94-98 Addison Road Marrickville NSW 2204

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