*EXCEPTIONAL* 2 level Building – High RETAIL Income PLUS 13Room GUEST HOUSE!
Other - Newtown NSW
Situated on a large parcel of land 379.4 sqm & recognized as the 3rd longest standing building on King Street it was constructed in 1830’s & still retains some of its original features Hand crafted staircase 2 log wood fireplaces featuring ‘one-off’ hand painted tiled surrounds & high ceilings. The building has been modernised with convertible automatic rooftop opening, exterior & interior fit-outs including DISABILITY ACCESS for clientele & enclosed front courtyard. There’s also rear lane access & common garden courtyard with optional parking.
The building currently houses a commercial tenant being a Modern café restaurant PLUS an Established 13 Room Guest House founded 1973 the LEP allows for further development opportunity to construct residential units – building height up-to 14metres – & subject to the approval of council.
Along with the staple rental INCOME of approx $86,000 you get from the commercial tenant, there’s lots of EXTRA income gained from the adjoining 13 ROOM ‘Guest House’ where rooms are repeatedly occupied
There’s also high Capital Growth in this inner Sydney neighbourhood renown for being a Prosperous music, theatre, design & food precinct.
For added value to your investment, consider a clever conversion TO SELF CONTAINED STUDIOS where you can LET & FORGET (PROPOSED Architectural PLANS AVAILABLE for 10 self-contained studio conversion & subject to the approval of council).
Located within walk distance to Newtown and St Peters station and a bus stop at your doorstep, its handy for sydney wide and country travelling.
For further details please contact Simon Viglino on 0404 525 373
*Property is being sold in conjunction with MasterSell Real Estate
- Land is 379.40 m²