Leichhardt

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An investor negotiated post-auction to pay $4,375,000 for a prime mixed-use Leichhardt building.
The property at <a href="https://www.commercialrealestate.com.au/property/122-128-marion-street-leichhardt-nsw-2040-2015767751" target="_blank">122-128 Marion Street</a>, offered for the first time in nearly four decades, is located 50 metres from the entrance to Leichhardt Market Place.
It is fully leased to five separate tenants with an annual net passing income of $223,678.
Italian restaurant Frattini, Bar Passalacqua, Jump! Swim School and Trassit Hair Studio occupy the building.
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The 505 sqm site, with 605 sqm of net lettable area, was marketed as having future development upside.
Ray White Commercial NSW agents Kristian Morris and Lachlan Palm secured the sale.
Morris said it was rare for a tightly-held Inner City freehold investment to come available and it also offered excellent positioning, being just six kilometres west of the Sydney CBD.
“We had five registered bidders battling it out on the day, with the property selling for more than $800,000 over the opening bid,” Morris said.   “The two-storey mixed-use building also offered the opportunity to redevelop with holding income and has a net $223,678.51* of passing income.   “The property by itself represents a corner site both for value-add, as well as potential redevelopment, subject to council approval.   “The asset's address and title identify a frontage facing Marion Street, however the property's exposure extends around the corner to Edith Street with rear access, parking and loading. 
“It's surrounded by public transport with buses and light rail, with direct access to Parramatta Road and walking distance to Leichhardt marketplace, anchored by major retailers such as Woolworths and Aldi.”
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Investor pays $4,375,000 for a mixed-use Leichhardt retail premises

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A part of the historic Cyclops toy factory in Sydney inner west is up for sale. 
The warehouse at 40-76 William Street in Leichhardt is being marketed by Knight Frank agent Demi Carigliano.
The 6,931sqm property consists of a 10,060sqm commercial building spanning four levels that is rented to a self-storage facility.
It is the last part of the original warehouse, with the remainder having been converted into apartments.
The remaining part of the old toy factory will be offered to the market for the first time in 30 years.
“Investors can either keep it in its current use as a self-storage building, reposition or re-adapt the existing building into a commercial or food and beverage hub or undertake a residential or commercial redevelopment of the site, subject to council approval," Demi Carigliano said.
He suggested the site has the potential to become a precinct similar to The Grounds of Alexandria, Tramsheds in Glebe or the Cannery in Rosebery.
There are no heritage restrictions on the property to prohibit or restrict development.
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“This is one of the largest freestanding buildings in this area.
“The property has a three-street frontage, including 88 metres on William Street.
It’s also in close proximity to the Leichhardt light rail station.
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Historic Cyclops, Leichhardt toy factory listed with development potential 

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A two story Leichardt warehouse with zoning and development potential is set for auction later this August.
The "Elements I Love” owners Brooke Crowle and Tim McGuigan are selling <a href="https://www.realcommercial.com.au/property-land+development-nsw-leichhardt-503276198" target="_blank" rel="noopener noreferrer">124 James Street</a>. They plan to relocate the business to Byron Bay. 
Currently surrounded by three street fronts and freestanding houses, the property’s zoning permits the construction of a house, but also the ability to build apartments, multi-dwelling housing, semi-detached dwellings and shop top housing up to 14m high if granted council approval.
It is currently surrounded by three street fronts and houses. 
Sydney City Fringe Principal Kristian Morris and associate Lachlan Palm of Ray White Commercial NSW hold the listing.
Set on an 875 site, the holding is located close to the intersection of the City West Link Rd, James Street and Darley Rd, just 5kms to Sydney CBD and a 2 minute walk to the Light Rail stop. 
Last sold in 1998, the property transacted for $500,000.
The building was also listed in August 2018 but following an unsuccessful expressions of interest campaign it was taken off the market in January 2019
The auction is scheduled for August 24.
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Leichhardt warehouse with residential development potential listed

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A two story Leichardt warehouse with rezoning development potential has been sold for $3.335 million.
The "Elements I Love” owners Brooke Crowle and Tim McGuigan who sold <a href="https://www.realcommercial.com.au/property-land+development-nsw-leichhardt-503276198" target="_blank" rel="noopener noreferrer">124 James Street</a> plan to relocate the business to Byron Bay. 
Currently surrounded by three street fronts and freestanding houses, the property’s zoning permits the construction of a house, but also the ability to build apartments, multi-dwelling housing, semi-detached dwellings and shop top housing up to 14m high if granted council approval.
It is currently surrounded by three street fronts and houses. 
Sydney City Fringe Principal Kristian Morris and Ray White Commercial NSW sold the listing after six of the 11 registered bidders participated in the auction.
Set on an 875 site, the holding is located close to the intersection of the City West Link Rd, James Street and Darley Rd, just 5kms to Sydney CBD and a 2 minute walk to the Light Rail stop. 
Last sold in 1998, the property transacted for $500,000.
The building was also listed in August 2018 but following an unsuccessful expressions of interest campaign it was taken off the market in January 2019.
It was bought by a local boutique developer.
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Leichhardt warehouse with residential development potential sold for $3.335 million

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The property group GPT has sold Norton Plaza, a neighbourhood shopping centre in Sydney's Leichhardt.
It sold to a private local investor for $153.2 million.
Norton Plaza comprises 11,800 square metres with a Coles supermarket and 50 retailers.
It also includes a large-format Harris Farm Market.
Nine Entertainment speculated the deal was struck on a core cap rate of 5.5% with the asset selling above its book value.
The Australian Financial Review had advised the move to offload Norton Plaza was part of the wholesale fund’s broader effort of focusing its portfolio on super-regional malls as a bulwark against headwinds in the retail sector.
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GPT sells Norton Plaza for $153 million

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A brand new Leichhardt warehouse designed by architect Petar Danicic has been listed for sale. 
The property at <a href="https://www.realestate.com.au/property-studio-nsw-leichhardt-130771502" target="_blank">33 Whites Creek Lane</a> was built around an open-air atrium after the property, which was a modest cottage on 350 sqm, traded for $1.12 million in 2007.
Now stands a warehouse with 430 sqm of living space.
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It features recycled ironwood timbers and floors, stainless steel kitchen, wine cellar, adjustable roof and mosaic-tiled baths.
Other features include an oversized walk-in wardrobe, internal-entry garage and a self-contained studio/office with courtyard.
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Chris Nunn and Nick Playfair from Bresic Whitney Estate Agents Glebe.
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Petar Danicic-designed Leichhardt warehouse listed

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Seachange foodies Jennifer Anderson and Jeremy Shipley secured the $1.3 million pre-auction sale of their Leichhardt semi.
They have owned the freestanding Flood Street home for 12 years and are off to Queensland with their daughter, Pearl.
<a href="https://www.realestate.com.au/sold/property-house-nsw-leichhardt-128889670" target="_blank">The 1900 home</a> cost $600,000 in 2006.
Jeremy is the Group Beverage Manager for the hospitality company, Solotel, and Jennifer is the QLD/NSW Key Account Manager for boutique wine distribution company, Déjà Vu Wine &amp; Sake.
They installed the wet bar, barbecue deck and open plan living at the property sold by Simone Azzi of Belle Property Annandale who had a price guide of $1.25 million to $1.3 million.
It has off-street parking on its 264 square metres. 
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Foodie couple complete seachange move with Leichhardt sale

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Accomplished actor Aimèe Horne, best known for portrayal as Polly in the Australian tour of British comedy Fawlty Towers Live, has bought her first Sydney home.
She has snapped up a freestanding Leichhardt home (pictured above) for $980,000 before its scheduled auction.
It looks to be a savvy purchase with the home having traded for $960,000 three years ago.
The 1890s cottage has two bedrooms, attic storeroom, and separate living and dining areas with polished floors.
There's a renovated kitchen complete with cafe-style alfresco breakfast bar in the rear private outdoor entertaining area.
Hudson McHugh Leichhardt agent James Price sold the home.
The Adelaide-born actor has starred in productions for the Sydney Theatre Company, Company B and Griffin Theatre, was praised by the British funny man John Cleese in 2016.
This article first appeared in The Daily Telegraph. 
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Actor Aimèe Horne buys in Leichhardt

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A three bedroom house in Leichhardt, the Italian suburb in the inner city of Sydney, has been listed for sale with $2.89 million hopes.
It presents superbly as an artistic retreat and entices lavish entertaining, the agent Rocco Colosi from Pilcher Residential said.
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<a href="https://www.realestate.com.au/property-house-nsw-leichhardt-127603758" target="_blank">Located at 15 Cromwell Street</a>, it features frontage is equal to three terraces in width, three bedrooms, a central courtyard, gourmet gas kitchen with Smeg/Asko appliances.
Other features include double lock-up garage, limestone tiling, underfloor heating and designer lighting.
The building size is approximately 298 square metres.
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Warehouse-style residential Leichhardt trophy listing

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A retail terrace in Sydney’s Leichhardt is on the market. 
The <a href="https://www.propertyobserver.com.au/https://leichhardt.randw.com.au/residential-for-sale/0000348222" target="_blank">46 Norton Street</a> terrace is ready to occupy and trade immediately. It has development approval for multiple tenancies.
The property was expected to fetch around $1,350,000 - $1,450,000 when listed earlier this month for auction.
It last changed hands for $1,050,000 in 2014, according to CoreLogic RP Data.
Zoned B2, the property can be occupied, leased or developed as it is within Leichhardt's sought after retail and commercial precinct. 
According to the description, the property is well suited for for professional businesses such as accounting, architecture, consulting, education, finance, IT and various others.
The land area is about 170 sqm while the building size is about 120 sqm.
The listing agents are R&amp;W Leichhardt’s Santos Sulfaro and Frank Sulfaro.
 
 
 
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