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Versatile Investment with significant development upside!

Auction

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.

Investment Highlights

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

Auction
Tuesday, 9 November 2021 - 10:30am 09/11/2021 10:30 AM Australia/Sydney Auction for 91 Watkin Street, NEWTOWN NSW 2042 - Belle Property 91 Watkin Street, NEWTOWN NSW 2042 Belle Property false DD/MM/YYYY
Tuesday 9 November 2021 - 10:30am
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186 Enmore Road, Enmore NSW 2042
Auction
Tuesday, 9 November 2021 10:30am 09/11/2021 10:30 AM Australia/Sydney Auction for 91 Watkin Street, NEWTOWN NSW 2042 - Belle Property 91 Watkin Street, NEWTOWN NSW 2042 Belle Property false DD/MM/YYYY
Tuesday, 9 November 2021 10:30am

Property information

Property ID
1814210
Property Type
Commercial
Type
For Sale
Category
Land/Development
Land Size
230.00m2
Building Size
244.00m2
Inspect
By Appointment
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Thank you for your interest in 91 Watkin Street, NEWTOWN NSW 2042.
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