94-98 Addison Road, Marrickville, NSW 2204

  • 1393 sqm

Auctioned

Auctioned

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  

Open uri20191227 24299 1dt67z5.profile
Director - Licensed Real Estate Agent - Licensed Business Agent
Open uri20191227 24299 1f90az6.profile
Director - Licensed Real Estate Agent - Licensee in Charge

Got a property to sell? Contact us for a free Property Estimate

Property Info:
  • Property ID: L5673727
  • Property Type: Land/Development
  • Building / Floor Area: 1393 sqm
  • Land Area: 797.0 sqm