To offer arguably one of the finest boutique development opportunities the Sydney property market has seen in years has been listed with acclaimed specialists Roger Mickhail Property appointed to oversee the campaign currently being marketed to both domestic and international buyers.
The 588 square metre Development approval enables the demolition of the existing structure in place and construction of a seven-story mixed use development with two levels of basement parking.
Eminently positioned within the uber-popular Waterloo precinct, one of Sydney’s most popular lifestyle destinations and one of the centrepiece regions included within the New South Wales Government’s much renowned ‘Green Square’ urban renewal initiative, 857 to 865 South Dowling Street presents as an unprecedented mixed-use development within immediate proximity of Sydney’s bourgeoning CBD.
Listing agent Roger Mickhail acknowledges the sites’ unique features and says that it’s generating widespread exposure right across the board.
“As one of the last remaining development sites along this sought-after parkland corridor, just 4km from Sydney CBD, this permit approved site is attracting high levels of local and international interest as a fast track opportunity in this key location”.
The corner allotment boasts approx. twenty-one metres of prime South Dowling Street frontage, enabling the two ground floor retail / commercial premises to capitalise on the precincts exponential growth as it becomes the first town centre to be designed by the City of Sydney in over a century.
As well as the ground floor retail premises, there is a one-bedroom garden apartment at the rear of the complex. The upper levels contain seventeen spectacular apartments, with one and two bedroom offerings providing generous living arrangements of between 50 to 88.6sqm internally - with North facing balconies further complementing an already captivating façade.
A substantial three-bedroom, two-bathroom penthouse is also incorporated into the design highlighting a generous 119sqm of internal living space in addition to a wraparound balcony.
The development also has approval for a maximum of twenty-one off-street car parking spaces spread across two levels, comprising fifteen residential spaces, four visitor spaces, and two retail spaces all accessed via the Murray Street entrance.
Renderings highlight a sleek & contemporary design seamlessly combining a blend of premium aluminum cladding and brickwork with glass balustrades and decorative metal screens providing for a timeless design that offers an abundance of natural light and privacy to future residents.
Not only is the site incredibly unique for this region of Sydney, but its proximity to a suite of world class amenities is likely to be a hit with future residents & investors looking to make full use of the central position.
“As part of the Green Park urban renewal initiative, this Inner City precinct is fast developing into one of Sydney’s most vibrant lifestyle locations with its cafes, restaurants, leisure facilities and excellent road and transport links to the City, airport and beaches making it highly attractive for residents and investors alike” Roger said.
“Waterloo has seen strong price growth for units of around 8% per annum over the past five years, with further growth capacity as the area benefits from new transport infrastructure and the $540 million Green Square Town Centre community facilities being developed by the City of Sydney Council”.
A passive income stream is offered with its existing use headlining a two story Art Deco retail terrace with 4 shops and two upper level residential dwelling.
For further information, kindly follow the link and send your enquiry directly to the listing agents.