74 McEvoy Street, Alexandria NSW 2015

An outstanding & conveniently located property on McEvoy Street, 600 metres from Green Square Station, this precinct is undergoing substantial urban renewal with many substantial key sites set for redevelopment into striking residential and commercial buildings.

This four storey building is currently tenanted with arguably under market rentals, there is further scope to add additional floor space (subject to council approval) and further capitalise via refurbishment on this commercial precinct. Ideal residential or hospitality/accommodation within 4 kilometres to Sydney airport.

Set over 990sqm approx of lettable area and on 307sqm approx of land, the property benefits from 10 carparking easements on adjoining land. Partially tenanted with leases expiring in the next 24 months with no further options, the building has a projected income with refurbishment of circa $400,000 per year.

Boasting a substantial frontage onto McEvoy Street and Hiles Lane and great natural light via a northerly disposition and windows along the eastern side also, this great building would be well suited to an owner occupier or investor who is prepared to add value via additional floorspace (subject to council approval) and cosmetic upgrades.

With a relatively clear span floor-plan, this building lends itself to a creative office user who wants to capitalise on the proximity to transport and this sensational emerging precinct which is largely undeveloped and only 4 kilometres to Sydney’s CBD.

There is further scope to convert the property which is in City of Sydney’s Green Square’s Investigation precinct (request copy of guideline document) into short stay accommodation, further adding value to this site.

RESULT: Sold in July 2016 to a partial owner occupier who refurbished the building and capitalised on the location and revised rents.