CBD FRINGE - DA APPROVED BOARDING HOUSE SITE WITH MINIMAL EXCAVATION
Ray White Commercial is pleased to present to market 2 O'Reilly Street, Parramatta, a DA approved boarding house on the CBD Fringe. The property will be offered for sale via Auction on Wednesday, 11th December 2024 unless sold prior.
This site is DA approved for the construction of a five-storey 39-room boarding house, complete with at-grade parking. This development site offers an exceptional development opportunity for boutique developers and boarding house operators looking to capitalise on Parramatta's growth and proximity to the CBD, transport, and amenities.
Located on the Parramatta CBD fringe, 2 O'Reilly Street is only 600m* from Westfield Parramatta and enjoys convenient access to all that Greater Sydney's economic hub has to offer. With a current vacancy rate of just 1.5%** in the area, this DA approved boarding house site stands to benefit from strong rental demand.
Additional highlights of the asset include:
• Site area - 809sqm*
• Zoning - R4 High Density Residential
• FSR - 0.8 : 1
• Height Limit - 11m
• DA approved for 39-room self-contained boarding house over five storeys
• CC documents ready
• At-grade parking with minimal excavation
• Estimated fully leased rental income - $889,200 per annum*
• 650m* to Westfield Parramatta
• 1.2km* to Parramatta Station and Interchange
• 1.5km* to Western Sydney Parramatta Campus
• 2.2km* to Westmead Hospital
The property is offered for sale via Auction on Wednesday, 11th December 2024 at 10:00 (AEDT). The Auction will be held at Ray White Corporate office, Level 7, 44 Martin Place, Sydney NSW 2000.
For further information, please contact the exclusive selling agents below.
*Approximately
**SQM Research, residential vacancy rate for postcode 2150
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