DA Approved Mixed Use Development Site with existing holding income

Details

I.B Property in conjunction with Colliers are proud to present 2C Gladstone Street, Newtown, available for sale via Expression of Interest.

This prime property, located on the corner of Gladstone Street and Phillip Lane, offers a generous land area of 1,320m2* and holds a valuable Development Approval with an FSR of 2.047:1 encompassing 12 apartments, 1,454m2* of commercial space designed by renowned architects PBD Architects, and 31 car spaces. With an E3 – Productivity Support zoning, approved FSR of 2.047:1 and a height limit of 14m, this property presents a versatile potential for its future development as the DA approval exceeds the FSR control. Generating a steady holding income of $220,617* per annum, its strategic position in the heart of Newtown, in close proximity to Newtown Train station, King St Precinct, and the Enmore Theatre, adds to its allure as a compelling investment opportunity.

Key Highlights:
1. Land area 1,320m2*
2. Located on the corner of Gladstone Street and Phillip Lane
3. Valuable DA Approval for 12 apartments, 1,454m2* of commercial space & 31 car spaces
4. Zoning – E3 – Productivity Support
5. Approved FSR of 2.047:1
6. Approved GFA of 2,702sqm*
7. Height limit 14m
8. Holding income of $220,617* per annum
9. Convenient location – located in the heart of Newtown close to the station and moments off King St and the Enmore Theatre.

2C Gladstone Street, Newtown is for sale via Expression of Interest closing Thursday, October 12th 2023 at 2:00pm.

Don’t miss out on this rare opportunity to secure a promising investment and contact the exclusive selling agents.