Liberal Prime Minister’s family petrol station to fuel commercial auction
Media release - 20th April, 2016
- A petrol station, where former Liberal PM John Howard worked as a boy, will go to auction on 24 May, 2016
- The petrol station, which is now a workshop, will be sold in one line with an adjacent shop and residence
- The combined site of 455 square metres is expect to fetch between $3.8 and 4.2 million
A former petrol station at 271-275 Wardell Road, Dulwich Hill, where ex-Australian Prime Minister John Howard cut his teeth in small business, will go under the hammer on 24 May.
The petrol station, which was owned by Mr Howard’s father Lyall and his grandfather Walter, now operates as a workshop. It has been reported that the former Liberal Prime Minister worked in the business as a boy.
The warehouse site is being auctioned alongside an adjacent residence and shop facility located at 269 Wardell Road. The two properties are being sold in one line and have a combined price guide of between $3.8 million and $4.2 million.
The properties offer enormous capital growth potential coupled with a good holding income, according to selling agent, Luke Smith, Director of Raine & Horne Commercial South Sydney/Marrickville.
“The combined assets provide for a 455 square metre site and are producing a gross return of approximately $153,868 annually plus GST,” said Mr Smith.
The site also has a 2.6:1 floor space ratio, which is set to tempt developers eager to land-bank for future opportunities.
“This auction represents a rare opportunity to purchase a site in Dulwich Hill, and the vendor, who is a private owner, is genuine about seeking a sale,” he added.
Wardell Road, Dulwich Hill is a popular location to live and work with the adjacent properties ideally located just 100 metres from Dulwich Hill train station and the light rail. The properties are close to excellent schools and some of Sydney’s biggest universities. It is only 20 minutes to the Sydney CBD from Wardell Road.
“Buyers can look forward to achieving strong re-sales as part of any future redevelopment thanks to the two properties’ strategic position on the cusp of Dulwich Hill and Marrickville, which are among the Inner West’s most popular suburbs,” said Mr Smith.
“Over the last couple of years, five projects have been completed within 100 metres of this site and all of them have been very well received.”
With a winter Federal Election looking probable, Mr Smith believes the property’s links to Australia’s 25th Prime Minister might attract some buying attention.
“It’s not out of the question that a buyer or investor with an interest in owning a slice of Australian political history may line up on auction day.”
269 and 271-275 Wardell Road, Dulwich Hill will go under the hammer on Tuesday 24th May in rooms at 50 Margaret Street, Sydney.
For more information about the sale of 269 and 271-275 Wardell Road, Dulwich Hill contact Raine & Horne Commercial South Sydney/Marrickville on (02) 9572 8855.
-ENDS-
For further media information contact:
Luke Smith, Principal, Raine & Horne Commercial South Sydney/Marrickville on 0416 281 577
Andrew Harrington, National Communications Manager, Raine & Horne on 02 9258 5400