A mixed use, freehold property with two diversified income streams is set to hit the market in Balmain, one of Sydney’s fastest growing pockets for investment.
205 Darling Street comprises a two-story freehold building with a total Net Lettable Area (NLA) of 120sq m* on a 102sq m* site, with prominent Darling Street frontage, rear lane access and B2 Local Centre zoning.
For sale exclusively through Nick Lower, Selin Ince and Ollie Ridley of Savills Metropolitan & Regional Sales, the ground floor is currently leased to ‘East Village Art House’ on a one year lease, plus one year option, expiring in September 2020 and the upstairs residential space comprises one bedroom and one bathroom and is subject to an existing month to month tenancy.
According to Nick Lower, Director, Metropolitan & Regional Sales at Savills Australia, “This mixed use, fully let, commercial asset has a diversified income stream, boasting large amounts of rental reversion and a total passing rental of circa $60,020 pa making it a trophy asset in any portfolio.”
The property boasts 180-degree uninterrupted views of the Sydney CBD Skyline to Barangaroo and is located in the main thoroughfare of Darling Street; just a short walking distance to multiple public transport nodes, such as buses and the Balmain Ferry Wharf.
The property is exposed to high pedestrian and vehicular traffic from local residents, as well as those from Birchgrove, Rozelle, Drummoyne and Lilyfield.
“Situated in one of Sydney’s most highly desirable and tightly held pockets – Balmain is ranked as Sydney’s Inner West’s highest ‘liveable suburb’ said Selin Ince, Sales Executive, Metropolitan & Regional Sales at Savills Australia,
“With a historic and undeniable charm that exudes affluence, Balmain and its character offer an aura like no other” she continued.
According to Ollie Ridley, Sales Executive, Metropolitan & Regional Sales at Savills Australia, Commercial tenants within the direct precinct benefit from the affluent community with highly disposable incomes which contribute to strong trade.
“The median income of residents in Balmain is in excess of $127,712* (ABS 2016). Balmain is easily accessed by road, being within 6km* of the Sydney CBD” he said.
205 Darling Street is for sale exclusively through Savills Australia via an Expressions of Interest Campaign, closing on 2pm Thursday 11 June 2020.