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Property Agents, Managers and Valuers<br />
INTRODUCTION<br />
On Behalf of the executor of the Estate of Late Pearl Elizabeth Pyne, Tower & London are privileged to offer<br />
for sale by Public Tender 245-247 Rocky Point Road, Ramsgate.<br />
This is an iconic site on the edge of the shopping strip in Ramsgate, with its famous reception hall, Torwood<br />
Lounge and other specialty shops, the property if developed, lends itself ideally for a mixed retail, commercial<br />
space and 6 floors of residential apartments, upper levels potentially with water views, subject to council<br />
approval.<br />
The site comprises two titles, one being a row of shops, offices above and the reception hall, the other a<br />
freestanding house; many of the shops and commercial premises are under expired leases; giving the purchasers<br />
income while obtaining planning permission.<br />
This report will delve further into the highest-and-best-use of the property; and although the area is suitable for a<br />
good size development, it might be possible to amalgamate with adjoining property; we look forward to your<br />
interest and to provide you with sufficient information to make a valued decision.<br />
Tenders close on Thursday 11 th April 2019 at 3.00pm.<br />
Yours Sincerely,<br />
Tower & London<br />
John Y Tower<br />
Licensed Real Estate Agent<br />
NSW Registered Valuer No. 3227<br />
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