Sydney Central Backpackers at Potts Point fetches $7 milliion

Sydney Central Backpackers at Potts Point fetches $7 milliion
Joel RobinsonJune 11, 2018

Potts Point's Sydney Central Backpackers has sold at auction for $7 million.

The 14-16 Orwell Street property, that last traded for $5.75 million in 2015, brought in over $865,000 gross revenue in 2017.

The purple block spans four levels and has 36 rooms, a mixture of dorms and private rooms.

There's common facilities and a rooftop terrace with skyline views and a kitchen.

Metro Commercial agent Allan Levy sold the property.

 

 

 

Joel Robinson

Joel Robinson is a property journalist based in Sydney. Joel has been writing about the residential real estate market for the last five years, specializing in market trends and the economics and finance behind buying and selling real estate.

Editor's Picks

Construction steaming ahead at iconic Sydney House mixed-use landmark
"A new benchmark for buyer protection" INCA takes out Resilience LDI at Ellis Residences, St Ives
Deicorp breaks ground on $1 billion Showground Pavilions in Castle Hill
Where to buy a new apartment on the Sunshine Coast in 2025
First look: Rose Bay's downsizer push continues