INVEST, OCCUPY OR REDEVELOP WITH INCOME
For Sale by Auction to be held on Thursday 28 June 2018 at 10:30am
Colliers International is pleased to offer an exciting opportunity to purchase 35-41 Addison Road and 53-55 Philpott Street, Marrickville.
Boasting premium corner exposure on the main road of the newly activated residential precinct of Sydney’s Inner West suburb, the properties strong potentials for retail showroom for an owner-occupier, investment and would make an ideal location for mixed-use residential redevelopment.
Main investment highlights are:
- Site area: 35-41 Addison Road: 1,471 m² and 53-55 Philpott Street: 858.3 m². Total land area: 2,329 m² approximately;
- 35-41 Addison Road is a 2 level commercial building currently being used by the owner and 53-55 Philpott Street is also a 2 level building of office and warehouse currently leased until 9 March 2019 plus a 5 year option;
- The properties has a 3 street frontage, located on the corner of Addison Road, Philpott Street and Stevens Lane in the built up residential area of Marrickville. Adjacent to the property is a mixed-use development at 31-33 Addison Street is about to complete for 24 apartments and a ground floor commercial of 400 m² and 29 car spaces over a basement parking;
- Town planning: The properties are zoned B5 Business Development under Marrickville Local Environmental Plan (LEP) 2011. Pursuant to Schedule 1 of the current LEP, the current zoning allows an additional permitted use which permits residential accommodation as part of a mixed-use development; and,
- A preliminary urban study has been prepared by A+ Design Group showing the subject site can yield up to 3,930 m² GFA or 31 residential apartments with 250 m² GFA retail (subject to Council approval).
35-41 Addison Road and 53-55 Philpott Street, Marrickville are for sale by Auction to be held on Thursday 28 June 2018 at 10:30am at level 5, 1 Margaret Street, Sydney NSW 2000.
For further due diligence information, inspection or a contract for sale, please contact;
Steam Leung
D: 02 9257 0269
M: 0412 236 138
E: steam.leung@colliers.com
Harry Bui
D: 02 9257 0367
M: 0410 477 888
E: harry.bui@colliers.com
Remember to mention you found this property on DevelopmentReady
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