A distinctive piece of Woonona's history has hit the market, presenting a rare chance to own a thriving commercial business alongside a luxurious residential space. The property at 359 Princes Highway, Woonona, a former bank building celebrating its centenary this year, is being offered as a unique mixed-use opportunity.
The forthcoming auction, managed by LJ Hooker Wollongong agent Chris Tudzarov, will see the sale of a fully operational restaurant and bar on the ground floor, coupled with an immaculate three-bedroom apartment above. The first public inspection is scheduled for Saturday, January 17, from 11:00 am to 11:30 am.
Heritage Charm Meets Modern Function
This property stands out by seamlessly blending its rich past with contemporary versatility. Originally constructed as a bank, the building retains significant vintage character. The most striking feature is the repurposed bank vault, which now serves as the atmospheric bar and wine storage area for the ground-floor restaurant.
The commercial kitchen is ready for operation, complete with a cool room, storeroom, and customer bathrooms. The space benefits from high visibility in a prime position directly opposite McDonald's, acting as a gateway to Woonona from the northern end.
A Premium Residence Above the Hustle
While the ground floor offers business potential, the true gem of this offering is the private, three-bedroom apartment on the upper level. Designed for comfort and style, it provides a serene escape from the commercial activity below.
The apartment features a premium-grade kitchen, a separate sitting room, a sunroom, and a formal dining room. Zoned ducted air-conditioning and pressed metal ceilings are found throughout, adding to the quality and charm. This setup delivers a lifestyle where one can live privately above a potentially lucrative business.
Ideal for Owner-Occupiers or Investors
This unique asset caters to two distinct buyer profiles. For an owner-occupier, it represents a standout residence with a built-in commercial component, offering the potential to run a business from home or derive rental income.
For the investor, the property promises flexibility through multiple income streams. The restaurant can operate as a going concern, while the apartment can be leased separately, creating a dual-revenue model from a single, high-profile asset.
The property's combination of heritage significance, prime location, and dual functionality makes it a standout offering in the Illawarra region. Interested parties are directed to contact selling agent Chris Tudzarov on 0451 714 441 for further details ahead of the auction.
