Surry Hills apartment with fashion cred sold
Title TattleMarch 15, 2020
Weekend sales included an $855,000 Surry Hills apartment with some fashion cred.
The Crown Street offering was by the Wheels and Dollbaby fashion retailer, Melanie Greensmith who previously had her showroom premises just across the street.
The two-bedroom apartment attracted marketing notoriety since it was once the backdrop for one of Debbie Harry’s fashion shoots.
More than 80 groups came through the open homes, with it sold to an investor after the offering came with $825,000 Ray White price guidance.
"The market is looking pretty good," agent James Peach said.
The 67 sqm level one apartment had last traded at $320,000 in 2003.
Its last known rental asking price was $675 a week in late 2018, which was slightly lower than the $720 being sought on its 2016 offering.
Realestate.com.au put the Surry Hills median apartment price at $800,000, with annual rental yields of around 4 percent.
Based on five years of sales, Surry Hills has seen an annual compound growth rate just 1.5 percent for units.
This article was first published in the Saturday Daily Telegraph.
