Unique Land Rich Holding with Immense Character
Address
40A-42 Maddox Street, ALEXANDRIA NSW 2015
Size
Total Area: 2480 m2
Details
IB Property in conjunction with Colliers are pleased to present to the market for sale 40A-42 Maddox Street, Alexandria, offering a unique opportunity to secure this freestanding building within the heart of Alexandria. The property is highly functional with immense heritage character, currently utilised as an art gallery/film studio.
The offering comprises a beautifully renovated 2,480m2 heritage listed industrial/office workspace positioned on a land rich 5,615m2 site within the northern Alexandria industrial precinct. The site benefits from the highly flexible E3 Productivity Support zoning, allowing for a potential GFA of 8,423m2 (STCA) and a building height control of 18 metres.
The property presents an exciting opportunity with either vacant possession or subject to a monthly lease, appealing to a large cross-section of potential purchasers, including owner occupiers, developers, core plus and value-add investors alike.
Key Property Highlights:
· Beautifully renovated 2,480m2 heritage listed industrial/office workspace
· Short-term holding income of $701,000 ($286.66/m2) per annum + Outgoings
· Assessed net market income of $1,420,000 ($572.58/m2) per annum, providing significant uplift from current levels
· Land rich opportunity of 5,615m2 with the ability to occupy in July 2024
· Extremely scarce abundance of car parking with 60 + spaces on-site
· Prime Northern Alexandria location beaming with new development
· Excellent access provided via three separate streets
· Highly flexible E3 Productivity Support zoning offering significant value-add and development potential with a 1.5:1 FSR and 18 metre height limit
· Strategically located within close proximity to Green Square train station, Sydney Airport, Port Botany and the Sydney CBD All figures are approximate.
This once in a lifetime opportunity is offered for sale via an Expressions of Interest campaign closing at 3:00 pm (AEST) Wednesday, 19th June 2024.
For further information, please contact Steffan Ippolito 0403 347 111.
