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Versatile Investment with significant development upside!
Belle Property Commercial are pleased to offer this rare opportunity to acquire this versatile investment within the highly prized and affluent North Newtown Market. This free-standing building with an R1 zoning is currently being utilised as creative office space (existing use rights).
The opportunity allows for the redevelopment of the property into either a Boarding House, with the purchaser receiving a concept scheme for 15 Self Contained Studios, or developed into a substantial home in one of the most prized streets in Newtown.
Sitting within MacDonald town, Newtown and Erskineville stations and within walking distance to institutions that include the University of Sydney, Royal Price Alfred Hospital, UTS, Moore Theological College and the vibrant King Street Retail precinct, this is an opportunity to acquire a property that provides holding income, while planning and approvals are received for the future re-development and re-positioning.
1. Land Area – 243.8sqm (approx.) 2. Floor Area – 230.0sqm (approx.) 3. $73,560.99 + GST P/A Gross 4. CPI Annual Increases 5. 3 x 3 Year Lease 6. Concept Plans for Boarding House 7. Personal Guarantee From Tenant 8. Solar Power 9. High Timber Ceiling and Exposed Beams Throughout
The Auction will be held on Tuesday 9th November 2021 at 10:30am at Auctionworks - 50 Margaret Street, Sydney NSW 2000
Tuesday, 9 November 2021 -
10:30 AMAustralia/SydneyAuction for 91 Watkin Street, NEWTOWN NSW 2042 - Belle Property91 Watkin Street, NEWTOWN NSW 2042Belle PropertyfalseDD/MM/YYYY