Paddington freehold offers turnkey investment opportunity
A tightly held Paddington property has hit the market for the first time in more than 60 years, offering investors a rare chance to secure a landmark address in one of Sydney’s most coveted inner-city suburbs.
Located at 57 Regent Street, the property is being marketed by BresicWhitney’s Anna Chen and Randall Kemp, in conjunction with CBRE’s Angus Windred and Luke Williams.
Currently configured as 12 apartments over three levels, the homes are all on individual strata titles, being sold in one line by a single owner. The potential fully leased market income is up to $442,000 gross per annum offering an enticing turnkey investment.
“The current owners and their family have held the property for over six decades and take real pride in it – it’s part of their family legacy,” Chen says.
“There’s scope for a new owner to refurbish and reposition the property for the future, given its flexible configuration and central location. In the short-term, it offers income stability and over the long-term, opportunity for capital growth.”
She adds that the property could become a trophy investment or intergenerational home for the eventual buyer and that the agents, including herself, were proud to represent the family in writing the next chapter for this exceptional property.
CBRE’s Angus Windred says the existing tenancies make the listing particularly appealing for investors.
“The apartments are currently leased, which strengthens the value offering for the purchaser with strong existing income,” Windred says.
“There’s also opportunity for the new owner to transform it into a unique intergenerational family home, which is a trend we are starting to see a bit more of.”
Chen says early market response has been strong with a diverse group of interested buyers.
“Enquiries from high-profile investors and developers, all recognising the limited supply in the area and the rarity of this opportunity.”
Windred adds that Paddington’s enduring popularity underpins the property’s long-term potential.
“Paddington is one of Sydney’s most sought-after suburbs,” he says. “Being just three kilometres from the CBD and with a diversity of housing types and sizes, it caters to families, couples, individuals, and downsizers. The suburb’s transport connectivity makes it easy to enjoy the best of what Sydney has to offer.”
The price guide sits at $9.5 million and the property will go to auction.
