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SOLD

12 Albert Street, ERSKINEVILLE, NSW 2043

Properties / Sold / New South Wales / Erskineville

Development Approved

1. Property Summary

Property Type

Residential

Land Area

449 m² (*approx)

Selling Method

Auction: via Public Auction at 10.30am, Tue 24 Apr'18

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2. Property Highlights

DA Approved Boarding House

Savills are excited to offer 12 Albert Street, Erskineville to the market by way of auction.

This superby located development site provides a golden opportunity for developers, builders and savvy investors to take advantage of this rare DA approved boarding house, with an existing 5 bedroom house.

This unique development site creates an outstanding opportunity for the following reasons:

- DA Approved for 18 large boarding house rooms

- 3 train stations within 400m

- Existing well-presented 5 bedroom house with rental income

- Potential to modify current DA approval to increase number of rooms** (FSR 1.14 vs maximum allowable 1.5:1 after bonus 0.5 for boarding house)

- Cheap build - add-on and additions / no basement or lift

Construction certificate imminent

- Potential income once built: $400,000pa*

- Depreciation allowance once built: $62,500pa*

- Highly sought after suburb showing low vacancy rates and strong rental returns

- Easy walking distance to King Street shops, cafes & eateries

- Perfectly situated next door to Green Bans Park in a leafy pocket of Erskineville village

- Close proximity to RPA Hospital, Sydney University, UTS, Sydney Airport & CBD

*Approx.

** STCA

The property will be sold via public auction on Tuesday 24 April 2018 at 10:30am at:

Auction Works

Mezzanine Level

50 Margaret Street

Sydney NSW 2000

Please contact the exclusive selling agents for more information.

Remember to mention you found this property on DevelopmentReady

Development Approved

1. Property Summary

Property Type

Residential

Land Area

449 m² (*approx)

Selling method

Auction: via Public Auction at 10.30am, Tue 24 Apr'18

2. Property Highlights

DA Approved Boarding House

Savills are excited to offer 12 Albert Street, Erskineville to the market by way of auction.

This unique development site creates an outstanding opportunity for the following reasons:

- DA Approved for 18 large boarding house rooms

- 3 train stations within 400m

- Existing well-presented 5 bedroom house with rental income

- Potential to modify current DA approval to increase number of rooms** (FSR 1.14 vs maximum allowable 1.5:1 after bonus 0.5 for boarding house)

- Cheap build - add-on and additions / no basement or lift

Construction certificate imminent

- Potential income once built: $400,000pa*

- Depreciation allowance once built: $62,500pa*

- Highly sought after suburb showing low vacancy rates and strong rental returns

- Easy walking distance to King Street shops, cafes & eateries

- Perfectly situated next door to Green Bans Park in a leafy pocket of Erskineville village

- Close proximity to RPA Hospital, Sydney University, UTS, Sydney Airport & CBD

*Approx.

** STCA

The property will be sold via public auction on Tuesday 24 April 2018 at 10:30am at:

Auction Works

Mezzanine Level

50 Margaret Street

Sydney NSW 2000

Please contact the exclusive selling agents for more information.

Remember to mention you found this property on DevelopmentReady

12 Albert Street, ERSKINEVILLE, NSW 2043 Erskineville

Savills NSW

Level 25, Governor Phillip Tower 1 Farrer Place Sydney, NSW 2000

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Residential

Commercial

Child/Healthcare

Industrial

Agriculture/Rural

Mixed Use

12 Albert Street, ERSKINEVILLE, NSW 2043