Free-Standing Building in Surry Hills with Strong Capital Growth!
This location has undergone a huge transformation in recent times with most of the older properties being upgraded or converted into commercial, retail and residential uses.
The property is conveniently situated on the western side of Elizabeth Street, just up from Devonshire Street. It is approximately 3 blocks from Central Station, moments to Chalmers Street bus services and approximately 15 minutes from the airport.
The new Light Rail is driving new developments around this property. This additional amenity and strong growth is only going to make it a more desirable lifestyle and business location.
The CBD is a comfortable 15 minutes walk. For those people visiting the building by car, parking is available on Elizabeth and surrounding streets. The area is well serviced by boutique eateries, cafes and fine restaurants, as well as Strawberry Hills Hotel, and this is only improving.
Furthermore, the building is located near Prince Alfred Park, which offers public tennis courts, basketball courts, swimming pools and local Schools.
This 5 level building is comprised of a high level ground floor showroom with a mezzanine office over part of the car parking area.
It has three upper floors of commercial space and a luxurious penthouse of the top that could be converted to further office space.
It has a brick and concrete structure and flooring, with metal framed windows and roof skirting. The balcony terrace and lobby areas are tiles and each floor is serviced by a lift.
The building provides good natural light to each floor with windows facing Elizabeth Street and Little Buckingham Street which also provides rear access for 5 Secure Carparks via roller shutters.
The surrounding properties are all higher and the existing controls consider that the building could go up to 22 m or 7 storeys so there is real potential at some point in the future to seek council approval for additional height and built form.
Each floor is fully carpeted with the internal fit outs all being good quality. Fully self-contained with individual hot water systems, separately metered dual air conditioning systems (driven by roof based aircon system), toilets (with showers), tea rooms, kitchenettes with built in cupboards and sinks. Apart from some selected updating the property is ready to move in.
The penthouse occupies the entire top floor and is designed for personal or corporate use and entertainment. Double entry doors open to a vast living and dining area. Both areas are surrounded by floor to ceiling glass windows with extensive city views and open onto a quiet private terrace. The large master bedroom has walk in robes, built in drawers, shelving plenty of hanging space. The large ensuite is tiled floor to ceiling with tiles and includes a generous shower recess.
A solid building; scope to grow; a great location; and guaranteed strong capital growth as the City expands in this in this direction.