SYDNEY'S COOLEST NEIGHBOURHOOD: - Consistently voted one of the coolest streets in Sydney, King Street is famous for its lively restaurants, bars, cafés & boutiques that stretch both sides for over 2km. THIS TWO LEVEL BUILDING SITUATED ON 379sqm OF LAND & PERMITTING TWO INCOME SOURCES IS CURRENTLY FOR SALE AND RIGHT NOW THE FRONT COMMERCIAL SPACE IS VACANT SO OPPORTUNITY TO RUN YOUR OWN BUSINESS (Saving on having to pay Rental income) WHILST YOU COLLECT INCOME FROM THE 13 ROOM GUEST HOUSE AT THE REAR. The building is the third oldest in King Street & set back is the original façade (c.1830s) that fits right in with home-grown design involving old materials & various dramatic spaces. . . FEATURES: - Transport: Newtown station on the Main Suburban line (300m); St Peters station on the Illawarra line (800m); or buses just outside | popular Enmore Theatre (550m) | Woolworths (500m) | Sydney CBD (just 5 km).
SIGNIFICANT COMMERCIAL SPACE AT THE FRONT: - Vacant & available For Lease. . . The present owner has revamped the front to display the early-Victorian façade in its former glory. The beautiful features make the entire courtyard with mezzanine floor an absolutely magical space. You may decide to lease this space out as a café, pizzeria or restaurant since it has a commercial kitchen with large store room, food preparation area & grease trap. It would also make a unique retail outlet, being ideal as an exclusive boutique, art gallery, florist, hairdressing studio, gift shop or combination of these. . . FEATURES: - Net lettable area of 124 m2 (ground floor: 100.8 m2; mezzanine: 18.8 m2; amenities 4.4 m2) | CONVERTIBLE ROOF OVER THE FRONT COURTYARD can be opened/closed at the press of a button to expose the suns rays for light & climate control | Accessible bathroom with a shower facility | Potential to extend a balcony from the mezzanine level to overlook King Street (subject to council approval) | Hand-painted tiles to the two original fireplaces (which can easily be reactivated) | Ornate wrought-iron spiral staircase | Mezzanine floor with decorative glass balustrading | Solid brick walls & paneled timber doors | Soaring decorative ceilings.
GUESTHOUSE BUSINESS AT THE REAR: - The licensed 13-room boarding house has been operating since the 1970s so it comes with significant goodwill. It already has short-term & long-term residents, so this is a second income stream that will be flowing from the beginning without further investment. The severe shortage of rentals makes this a particularly attractive investment. . . FEATURES: - Two bathrooms downstairs & two contemporary bathrooms with a separate toilet upstairs | Beautifully-crafted timber staircase | Shared laundry room & garden balcony | Opportunity to re-develop and build up one level (e.g. building seven 2-bedroom units above) | All furniture in the bedrooms included in the sale.
FANCY A 30-SECOND COMMUTE TO WORK? ... The current owner has been residing in two of the guesthouse rooms. You could do the same & lease out the other 11 rooms for the current very good income. Then you can enjoy the King Street lifestyle every day. Business financials for the 11 rooms are available for the interested buyer. If you decide to live elsewhere, you can lease out all 13 rooms for an even higher return. There is also the HUGE upstairs Attic which can convert to extra accommodation . . . FEATURES: - Building is on a large block of land (379 m²) | Rear-lane access | Off-street parking for owner's car in rear courtyard if desired | the LEP allows for further development to build up-to 14metres in height so future opportunity to construct residential units.
This retail property enjoys high exposure within one of Sydney's most popular dining & nightlife precincts. The location also brings short-term travelers to the guesthouse & the high demand for housing makes it easy to find long-term tenants. Contact Marya on 0425 275 555 to discuss your many options or to arrange an inspection.
