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94-98 Addison Road Marrickville NSW 2204

  • Development / Land
  • 797 m²
  • Commercial Auction

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 x 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

    Auction date and time30/03/2021 10:30
    Auction locationAuction Works, Mezzanine Level, 50 Margaret Street Sydney 2000
    Map for 94-98 Addison Road Marrickville NSW 2204
    Map for 94-98 Addison Road Marrickville NSW 220494-98 Addison Road Marrickville NSW 2204
    Raine & Horne Commercial Inner West/South Sydney
    4-8 Gladstone Street Marrickville NSW 2204

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