94-98 Addison Road, Marrickville, NSW 2204

  • 1393 sqm

Auction

FOR SALE BY AUCTION Tuesday 30th March 2021

PRIME INNER WEST DEVELOPMENT SITE

An ideal opportunity for the astute developer or investor to secure this prime site with DA approval to construct a 4 storey mixed use building within this popular & rapidly evolving part of Sydney.

> 797sqm site across Two titles

> 19.9mt Frontage, Rear lane access

> Holding income – presently returning $143,327.28 per annum from 5 tenancies

> DA Approval for a 400m2 Ground floor indoor recreation facility & upper level new generation boarding house consisting of 35 boutique self-contained studios

> Single Level Basement with 17 car spaces

> Pre-commitment to lease the ground floor as a gymnasium at a commencing rent of $145,000 per annum net + GST on a 5 × 5year lease to a Plus Fitness franchisee

> Strong anticipated yield in this popular high demand location

> Estimated return on the completed development of approximately $800,000 per annum net with scope for future upside

> An advantageous approval that would be difficult to replicate given changes to planning controls

> Potential to explore amendments to current approval or alternate redevelopment strategies  

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Auction:
  • Tue March 30 at 10:30AM
Property Info:
  • Property ID: L5673727
  • Property Type: Land/Development
  • Building / Floor Area: 1393 sqm
  • Land Area: 797.0 sqm