Balmain

Sydney-based investment house Princeton has recently acquired one of the last remaining warehouse conversion sites in the Balmain Village Precinct, worth a combined value of $40 million.&nbsp;

The 960 sqm inner-west site at 73-75 Beattie Street will house just five three-bedroom terraces along with a one-of-a-kind New York loft-style four-bedroom penthouse, with views to the Sydney Harbour Bridge and city skyline.&nbsp;

Construction will kick off in the first quarter of next year as the new residences position themselves as welcome addition to the affluent suburb.&nbsp;

While Sydney property prices show signs of dropping, the latest CoreLogic figures show Balmain has experienced a steady increase over the last five years, with a growth rate of nearly 20 per cent over the last twelve months and a current median sales price of $2.7 million.&nbsp;

<img alt="Render of the proposed Beattie St development " data-entity-type="file" data-entity-uuid="fc40fe3e-2d77-4c14-9f93-f6e929967793" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/CGI%20-%20Llewelyn%20Street.png?VersionId=GHbYC3UB_mUR.3yDK47G0Led5Gaz8Ymx" /> 
Render of the proposed Beattie St. development.

Princeton founders, George Gadallah and Craig Anderson said the new addition provided the perfect step for their quick growing investment portfolio in Sydney’s inner-west.

“The acquisition of the Balmain site is an exciting leap forwards for Princeton in the highly competitive inner-west market,” said Gadallah.

“Balmain is one of Sydney’s most in demand suburbs and continues to outperform the wider market due to government infrastructure announcements such as WestConnex and Sydney Metro West, as well as its proximity to amenities in the CBD, strong demographic and lack of land supply.”

“This development will offer home buyers dynamic, terrace-style living with unparalleled views of Sydney’s world-famous harbour, with each terrace providing a separate home office or rumpus room above basement car parking.”

“It’s going to be exciting to see this project come to life over the coming months/years and cement itself as a crown jewel of the inner west,” Gadallah added.&nbsp;

The Balmain project will join an already strong portfolio from Princeton, including the underway Botany project, Baronet &amp; Banks, Serrata in Blakehurst, and luxury living development in Bondi Beach with Eurangi.

The 960 sqm inner-west site at 73-75 Beattie Street will house just five three-bedroom terraces along with a one-of-a-kind New York loft-style four-bedroom penthouse, with views to the Sydney Harbour Bridge and city skyline. 

alisonwarters@gmail.com

Princeton to build apartments in the heart of Balmain 

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Fitzy &amp; Wippa sidekick Sarah McGilvray and her husband, Thales Group director James Couche, pulled their Balmain terrace from its recent auction.
They were hoping to flip it after the couple paid $2,040,000 just last year.
The auctioneer turned up in the rain for the early evening onsite auction, but not the bidders.
Belle Property Balmain agents Lyndsey Kemp and Kristyn Brennan had a $2.1 million guide. It is now for sale at $2.18 million.
The home (above) has three bedrooms and one bathroom on its 135 square metre parcel.
The couple have been busy renovating, even while they had their first child, William, late last year. 
The new mother, who was in London with the team for the recent Royal Wedding, joined the Nova FM team in 2016 and produces Fitzy &amp; Wippa's breakfast show.
They're opting to be closer to the North Shore where much of their family live.
The inner west's auction success rate is running at around 55 percent, with Balmain leading the declining success rate.
Last weekend the long-time Balmain home of celebrity pâtissière Adriano Zumbo failed to sell at auction.
It now has a price tag of $1.7 million.
There were four contenders at the auction, although Paul Cooper at the Coopers Agency, who is marketing the home with his son Matt, said only one had finance approval.
"Finance approvals are presently taking so much longer than in the past," Paul said.
There has been an offer at $1.7 million but subject to forthcoming approval.
The dessert king, who crafted his trade in the inner-west paid $675,000 back in 2003 after returning from a year stint working in France.
The property sits 800 metres from his flagship Balmain store which he opened in 2007. He spent some time working at the also nearby Victorie Bakerie.
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Zumbo has opened seven stores throughout New South Wales and Victoria including a concept store at The Star Casino.
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Set on 340 sqm, the home has three bedrooms, one bathroom and of course a renovated kitchen.
Paul and Matt Cooper and Coopers Agency are marketing the home that is leased until July 2019, returning over $1,000 a week.
This article was first published in the Saturday Daily Telegraph.
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Balmain auctions leave vendors waiting

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A mix-used, freehold asset in Sydney’s Balmain has sold to a local investor.
Situated at 205 Darling Street, the 116sqm property offers views of the Sydney skyline and sold for $1.4 million.
The home was listed on the market for over 200 days, after being listed previously without sale in 2018.
Achieving a yield of 4.2 per cent, the site offers a diversified income stream with its ground-floor being let to an art school and a residential tenant occupying the upstairs space.
The one-bedroom apartment upstairs featured two balconies, a rooftop terrace, and private garden access via Queens Place.
Savills Australia’s Nick Lower, Selin Ince and Oliver Ridley negotiated the deal.
“With retail trading at sub 5 per cent, it is clear consumer sentiment is on the rise, and investors are taking advantage of current market conditions in order to secure premium property”, they said.
The property is located in close proximity to the Sydney CBD and is only moments to Darling Street’s retail precinct.
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Mixed-use freehold asset in Sydney's Balmain sells for $1.4 million

The Sydney Eastern City Planning Panel have approved the $135 million re-development of the former Balmain Leagues Club site.

Investment house and residential developer <a href="https://www.urban.com.au/developers/heworth-group">Heworth Holdings</a> will be in control of the 28,000 sqm mixed-used development on the corner of Victoria Road and Darling Street.

As well as 167 apartments, there will be commercial space, including 'live/work' units, and a new public town square with a supermarket, speciality retail and a community arts studio.

The lower levels of the complex will comprise the new Tigers Leagues Club.

<img alt="" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/9/11/Balmain%20Leagues.jpg" />

The whole project will create over 1,000 jobs, with over 417 jobs as part of the construction phase and nearly 600 direct and indirect operational roles with the new club, retail and commercial components of the development.&nbsp;

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Heworth’s head of property Christopher Walsh described the DA approval as a “significant milestone in the site’s history and great outcome for the inner-west community”.

“We’re delighted that the project has been given the green-light and we can start work on resurrecting the site and building a new Balmain Tigers Leagues Club, for the benefit of its loyal members and the wider community, who’ll enjoy the new amenities,” Mr Walsh said.

“Heworth has&nbsp;continued to engage with the local inner-west community throughout the three year planning process and we’d like to thank Mayor Darcy Byrne and the Inner-West Council for their ongoing support and interest in the project.

Heworth Holdings comprises Heworth Fund Management, Heworth Lendbuild and Heworth Construction.

[smartcode_project:default project_id=29140]
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Balmain Leagues Club site set for $135 million re-development

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A Balmain home, with views of the Harbour Bridge, has come onto the market with a $2.2 million price guide.
The two-story detached terrace, at 42 Campbell Street, features four bedrooms, two bathrooms, a balcony, and a small lawn.
It comprises a 219 square metre block, and has 150 square metres of internal floorspace.
It last traded in 2009, when it sold for $1.18 million.
Balmain’s median house price is $1.950 million.
Madeleine Russell and Monique Dower, from Belle Property Balmain, have the listing.
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Balmain home with harbour views listed for $2.2 million

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A $5.05 million Newtown record has allowed artist Tom Arthur and wife Sandra to downsize to Balmain.
Their home, the former Mas­onic Hall on Station St, was bought by WiseTech Global exec Brett Shearer and wife Bronwyn, who were upsizing from their $2.84 million Stanmore home.
The Arthurs have spent $2.8 million on a newly constructed Balmain terrace, one of just six in the Parkes Residence development, a project based around the conversion of a historic mansion on the fringe of Punch Park. The two level smart home spanning 210 sqm has three bedrooms all with ensuites.
It’s in the same development Hollywood actor Rebel Wilson paid $1.88 million for as an off the plan investment in 2015, getting a two-bedroom, two-level apartment spanning 15 0sqm.
The Arthurs spent more than three decades at the ­former Masonic Hall.
The 1930s property, which featured an artist’s studio on its basement level, cost $255,000 in 1987.
This article was first published in the Sunday Telegraph. 
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Artist Tom Arthur downsizes to Balmain after record $5.05 million Newtown sale

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The inner west home of recently departed GWS Giant Adam Tomlinson has quickly found its buyer and gone under contract.
The Melbourne­-bound utility had listed the Balmain home for auction next weekend, but sold midweek subject to its five-day cooling off period.
The sale terms were $1,825,000 after nine contracts were issued after 82 groups went through.
It sold to a couple from Balmain East.
It was listed just days before the AFL grand final, when Tomlinson started on the bench in the Giants’ big loss to Richmond.
Tomlinson recently signed a five-year deal with the Demons, with salary cap pressures from the Giants­ reportedly­ forcing the move.
“It’s just one of those things. You can only fit so many people into one room,” he recently told The Daily Telegraph.
The Melbourne sports press suggested his deal was for $500,000 a year.
Tomlinson, who was originally from Melbourne, recently said he loved living in Sydney.
He’s been at his Balmain home, known as Woodleigh, since 2015 when he paid $1.36 million for the two-level Victorian.
He had a guide of $1.6 million for its October 19 auction through Belle Property Balmain agents Monique Dower and Madeleine Russell.
The home has three bedrooms and two bathrooms. The lounge room has a gas fireplace while the kit­chen and dining areas open to a rear courtyard on the 120 square metre parcel.
“I’ve loved my time at the Giants ... and no doubt I’ll look back on this period of my career fondly in the years to come,” Giants­ foundation player Tomlinson said.
This article was first published in the Saturday Daily Telegraph.  
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New Melbourne AFL recruit Adam Tomlinson sells Sydney home

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Adam Tomlinson, the GWS grand final player, has listed his Sydney home.
The midfielder, who ­started on the bench on the weekend, has listed in Balmain.
Belle Property Balmain agents Monique Dower and Madeleine Russell have a $1.6 million guide for its October 19 auction.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/10/31/balmain%202.jpg" alt="">
Tomlinson, who is club foundation player with 140 games for the Giants since his 2012 debut, bought the home in 2015 for $1.36 million.  
He ranks fifth on the Giants’ all-time ­appearance list.
It’s been reported Tomlinson, who is out of contract at the end of the season, could be forced back to a Melbourne club due to GWS salary cap pressure, but he hopes to stay in ­orange.
“I’d love to (stay at GWS),” Tomlinson told The Daily Telegraph earlier in the week.
“It’s just one of those things. You can only fit so many people into one room.”
 <img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/10/31/balmain%203.jpg" alt="">
His Balmain home, Woodleigh, is a two-level Victorian terrace with three bedrooms and two bathrooms.
The lounge room has a gas fireplace while the kit­chen and dining areas open to a rear courtyard on the 120 square metre parcel.
This article was first published in The Sunday Telegraph.
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GWS Giants star Adam Tomlinson lists Sydney home

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Wylam, the renovated 1890s Balmain terrace, has been listed by Annick Perrin, former media sales director at Macquarie Media.
Still set behind its traditional Victorian facade, the contemporary home with terrazzo-style polished concrete floors spans three levels.
It has four bedrooms, two living areas and a whole floor parents' retreat with views of the Anzac Bridge and city skyline.
The ground level kitchen, living and dining space open to a rear alfresco deck with a plunge pool.
Monique Dower and Madeleine Russell at Belle Property Balmain have a $2.5 million guide.
Perrin, who was once managing director of media agency Starcom Sydney, paid $775,000 in 2004.
This article was first published in the Saturday Daily Telegraph.
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Wylam, the renovated 1890s Balmain terrace, listed by former media agency boss

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Cameron’s Marina, located on the Balmain Peninsula, has been listed for sale.
The 1880s marina is offered with $6 million-plus hopes with adjoining freehold waterfront land.
Its original boat shed burnt down in 1983 and was replaced in 1985.
The marina currently has between 12 and 20 fixed berths (depending on vessel size), a work berth, slipway and 21 swing moorings.
The berths and moorings are on a “wet lease” to the NSW Roads and Maritime Services until 2037.
The moorings generated a net profit of $159,844 in 2018.
Cameron’s Marina, <a href="https://www.commercialrealestate.com.au/property/5a-phoebe-street-balmain-nsw-2041-2015294243">located at 5a Phoebe Street, is being sold by expressions of interest which close on July 4.</a>
It was purchased in the early 1960s by Peter Cameron.
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