An exciting development prospect is set to further enhance an already successful commercial operation in one of the Inner Westâs most vibrant pockets. The current 550+ square metre site with an exceptionally wide 18m frontage is currently occupied by full-brick and tile registered boarding house in sound and well-maintained condition, with eight bedrooms, two bathrooms, large kitchen, lounge area and external deck, needing only minor updating.
• The neighbourhoodâs walking distance proximity to Sydney University, Royal Prince Alfred Hospital and UTS has made it a prime spot for student accommodation rental activity and significantly enhances this propertyâs potential to expand – while preserving the heritage-listed façade (STCA) – with an excellent increased income stream or a boutique bed and breakfast establishment.
• The area is a buzzy multicultural and bohemian hub with a wide range of eateries in Newtown and Enmore, good transport links and general lifestyle amenities.
• The site also has versatile appeal in its attractive leafy vibe, exceptionally wide 18m frontage and large open side space with room for the construction of a free-standing terrace house with off-street parking on a separate title (S.T.C.A). It is also handy to Stanmoreâs prestigious Newington College and Newtownâs Sydney Performing Arts High School.
For further details or inspections :
Contact: Joe Vigorito 0414 645 704
|R&H Suburb Summary||Houses|
|Number of sales||41|
|Median Rental Price||$830 p.w.|
|Change in Rental Rate (5yr)||19 %|
|R&H Suburb Summary||Units|
|Number of sales||16|
|Median Rental Price||$450 p.w.|
|Change in Rental Rate (5yr)||7 %|