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Sold on 24 Apr 2018

12 Albert Street Erskineville NSW 2043

  • Development / Land
  • 449 m²
  • Sold

DA Approved Boarding House

  • -
  • -
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Savills are excited to offer 12 Albert Street, Erskineville to the market by way of auction.

This superby located development site provides a golden opportunity for developers, builders and savvy investors to take advantage of this rare DA approved boarding house, with an existing 5 bedroom house.

This unique development site creates an outstanding opportunity for the following reasons:

- DA Approved for 18 large boarding house rooms
- 3 train stations within 400m
- Existing well-presented 5 bedroom house with rental income
- Potential to modify current DA approval to increase number of rooms** (FSR 1.14 vs maximum allowable 1.5:1 after bonus 0.5 for boarding house)
- Cheap build - add-on and additions / no basement or lift
Construction certificate imminent
- Potential income once built: $400,000pa*
- Depreciation allowance once built: $62,500pa*
- Highly sought after suburb showing low vacancy rates and strong rental returns
- Easy walking distance to King Street shops, cafes & eateries
- Perfectly situated next door to Green Bans Park in a leafy pocket of Erskineville village
- Close proximity to RPA Hospital, Sydney University, UTS, Sydney Airport & CBD

*Approx.
** STCA

The property will be sold via public auction on Tuesday 24 April 2018 at 10:30am at:

Auction Works
Mezzanine Level
50 Margaret Street
Sydney NSW 2000

Please contact the exclusive selling agents for more information.

Nick Lower
Savills Sydney
Nick Lower
Savills Sydney

Property Highlights

Property ID2014253476
Date Sold24 Apr 2018
Floor AreaAsk Agent
Land Area449 m²
ParkingOn site parking available
Category
Last updated  12 Nov 2020
Map for 12 Albert Street Erskineville NSW 2043
Nick Lower
Savills Sydney
Nick Lower
Savills Sydney

Property Highlights

Property ID2014253476
Date Sold24 Apr 2018
Floor AreaAsk Agent
Land Area449 m²
ParkingOn site parking available
Category
Last updated  12 Nov 2020
Level 25/1 Farrer Place Sydney NSW 2000
Nick Lower
Nick Lower
Savills Sydney

Nick Lower

Savills Sydney

0414 *** ***
0414 259 494

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