Seven residential warehouse offerings in Sydney
An 1870s Surry Hills residential warehouse – last traded in 2005 – has been listed for November 19 auction.
It was once a stable and coachworks and of recent times has had an interesting group of owners.
It’s been listed by the Domabyl family, who paid $3.2 million in 2005.
Its joins the recent production line of bulky inner-city warehouse conversions that have been offered for sale.
Many appear stuck on the market for lengthy periods of time. Several of the warehouse conversions have asking prices either going stale or being slashed.
They have traditionally been considered hot property, but the industrial conversions appeal to entrepreneurial types who don’t seem to have the same deep pockets as in the past.
Bresic Whitney listing agent Shannan Whitney expects more than $4 million for the three-bedroom Little Bourke Street, Surry Hills warehouse (pictured above) that has room for seven cars and includes a photography studio. His pricing is based on a recent nearby $4 million plus sale.
The Little Bourke Street warehouse listing fetched $1.105 million in 1989 when bought by the antique dealer Joan Bowers from Kings Cross identity Catherine O'Malley.
Bowers’ purchase was reportedly backed by Lord Alistair McAlpine whose then wife, Romilly, was in business with Bowers.
Bowers sold to Jennette Miller of Wahroonga for $1 million in 1993 through estate agent Margaret Blok. It next sold to the Domabyl family, who’ve put it on the market this month through Bresic Whitney.
Across town in Newtown, the 1920s O'Connell Street warehouse (pictured above) best known for its prior ownership by broadcaster Alan Jones remains listed for sale. The five-bedroom former Champion Textiles warehouse passed in at a May auction on a $3.7 million vendor’s bid. It’s still listed through Michael Harris at Raine and Horne Newtown.
Jones sold it in 2003 for $2.9 million to the current vendors, hotelier and former Newtown rugby league player Steve Bowden. The five-bedroom home came with space for a boxing ring used by boxer Danny Green. It’s also been a studio of the fashion designer Dion Lee.
Still in Newtown there’s a Sloane Street warehouse listing (pictured above). It was last sold in 1996 for $520,000 by ABC 7 o’clock news anchor Richard Morecroft, who converted the property. Film producer Matt Carroll is the current owner, and he’s had it on the market with an asking price of $2.35 million. It’s a two-level, 218-square-metre space listed through Eric Lundberg from DB Property in Surry Hills. The similar adjoining property with 259 square metres of space went for $2.25 million in 2008.
A few doors up is another Sloane Street property (pictured above) that has been on the market since May. The last reported sale of the unrenovated property was in 1984, when it sold for $115,000. It’s listed through Ian McPhee from Belle Property.
At Camperdown a Probert Street warehouse (pictured above) with a commercial occupancy has been on the market since late 2007 through three real estate companies. It comes with an asking price of $2.6 million. It last changed hands in 1997 for $645,000. It’s set up as a live-in showroom but can be used as a two-bedroom abode. It’s listed through Joseph Gambino from The Edge Property Agency in Darlinghurst.
There is a Paddington conversion (pictured above) listed that last sold in February 2010 for $1.341 million and has been on the market since then. Before that the McLaughlan Place property sold for $1.25 million in 2008 when Aboriginal art dealers Hogarth Galleries sold up and moved out. Hogarth originally bought it in 1993 for $265,000. It’s listed through Darren Pearce from Bresic Whitney.
The owners of a Chippendale unrenovated warehouse (pictured above) have been trying to lease their property since May this year. The Abercrombie Street property has five bedrooms and just the one bathroom. It’s currently being listed for sale through Adam Bodon from Deans Property in Broadway.
For warehouse conversions in Melbourne, click here.
