A local investor has purchased a 116sq m mixed use freehold asset in Balmain, NSW with breathtaking views of the Sydney CBD skyline for $1,400,000.
Located at 205 Darling Street, Balmain, the property sits on a 102sq m site and has a diversified income stream, with the ground floor being let to an Art School and Residential tenant occupying the upstairs space. The yield achieved was 4.2%.
The deal was negotiated by Nick Lower, Selin Ince and Oliver Ridley of Savills Metropolitan & Regional Sales who said this sale is yet another indicator of confidence etching back into the market.
“With retail trading at sub 5%, it is clear consumer sentiment is on the rise, and investors are taking advantage of current market conditions in order to secure premium property.”