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12 Albert Street, ERSKINEVILLE, NSW 2043
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Property Highlights

DA Approved Boarding House

Savills are excited to offer 12 Albert Street, Erskineville to the market by way of auction.

This superby located development site provides a golden opportunity for developers, builders and savvy investors to take advantage of this rare DA approved boarding house, with an existing 5 bedroom house.

This unique development site creates an outstanding opportunity for the following reasons:

- DA Approved for 18 large boarding house rooms

- 3 train stations within 400m

- Existing well-presented 5 bedroom house with rental income

- Potential to modify current DA approval to increase number of rooms** (FSR 1.14 vs maximum allowable 1.5:1 after bonus 0.5 for boarding house)

- Cheap build - add-on and additions / no basement or lift

Construction certificate imminent

- Potential income once built: $400,000pa*

- Depreciation allowance once built: $62,500pa*

- Highly sought after suburb showing low vacancy rates and strong rental returns

- Easy walking distance to King Street shops, cafes & eateries

- Perfectly situated next door to Green Bans Park in a leafy pocket of Erskineville village

- Close proximity to RPA Hospital, Sydney University, UTS, Sydney Airport & CBD

*Approx.

** STCA

The property will be sold via public auction on Tuesday 24 April 2018 at 10:30am at:

Auction Works

Mezzanine Level

50 Margaret Street

Sydney NSW 2000

Please contact the exclusive selling agents for more information.

Remember to mention you found this property on DevelopmentReady.com.au

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