Rare Freehold Mechanic Workshop with Future Redevelopment Potential

Details

I.B Property is pleased to present a truly exceptional opportunity at 152 Boundary Street, Paddington.

Nestled in the vibrant heart of Paddington, this unique property stands as a robust freehold asset within the suburb’s expanding enclave. Beyond its present value, this property holds potential for future development, making it an appealing prospect for a diverse range of investors. The first level features a 1-bedroom, 1-bathroom warehouse-style apartment, distinguished by its soaring ceiling heights and abundant natural light pouring through large façade windows.

This asset opens up numerous avenues for the discerning purchaser, whether you’re an astute long-term investor, a forward-thinking developer, or someone with a vision to transform the property into a residential gem.

Key Highlights:

• Annual net income of $184,800 + GST (exclusive to the mechanic workshop)
• Projected net income of $221,000* per annum.
• Additional 1-bedroom apartment on level 1 (Vacant)
• 240sqm* Land Area with an approximate 320sqm* net lettable area
• Exceptional visibility and exposure, with potential for future residential warehouse conversion development (STCA)
• Conveniently located just moments away from Paddington’s finest dining establishments and boutique fashion outlets.
• Situated opposite the renowned St Vincent’s Private hospital

*approx.

Join us in anticipation as I.B Property proudly presents 152 Boundary Street, Paddington for Sale through a Public Auction scheduled for Saturday, November 11th at 9:45am on-site.