Six loft apartments with commercial upside
• Six loft-style apartments with strong tenant demand and scope for redevelopment
• Current residential gross income of $142,480 pa
• Ground floor commercial space, vacant and available for lease or also suited to owner occupation
• Dual street frontages to Cumberland and Vogel Streets
• Located within a thriving, evolving precinct
The building sits in the sought-after Warehouse Precinct, an area that has been transformed in recent years into a vibrant inner-city commercial and residential hub, with its Victorian architecture central to its appeal.
The property has two street frontages: Cumberland Street, which gives the building a prominent city address, and Vogel Street, a character-rich space that typifies the precinct's virtues.
The building comprises six residential apartments across the two upper levels and a ground-floor commercial space that includes a basement. The loft-style apartments are spacious, with rustic charm and plenty of character, and are consistently in demand with tenants.
The Warehouse Precinct continues to attract significant investment and redevelopment, and this property offers an opportunity for a vision-led purchaser to unlock further value. With the apartments well suited to refurbishment and the ground floor commercial space vacant and available for lease, a passionate developer or owner-investor can shape the building's next chapter while benefiting from existing residential income.
Two separate buildings on two lots, held in a single title.
Get in touch today to learn more about this unique opportunity.
Agent details;
Muir Gold
0274336989
• Current residential gross income of $142,480 pa
• Ground floor commercial space, vacant and available for lease or also suited to owner occupation
• Dual street frontages to Cumberland and Vogel Streets
• Located within a thriving, evolving precinct
The building sits in the sought-after Warehouse Precinct, an area that has been transformed in recent years into a vibrant inner-city commercial and residential hub, with its Victorian architecture central to its appeal.
The property has two street frontages: Cumberland Street, which gives the building a prominent city address, and Vogel Street, a character-rich space that typifies the precinct's virtues.
The building comprises six residential apartments across the two upper levels and a ground-floor commercial space that includes a basement. The loft-style apartments are spacious, with rustic charm and plenty of character, and are consistently in demand with tenants.
The Warehouse Precinct continues to attract significant investment and redevelopment, and this property offers an opportunity for a vision-led purchaser to unlock further value. With the apartments well suited to refurbishment and the ground floor commercial space vacant and available for lease, a passionate developer or owner-investor can shape the building's next chapter while benefiting from existing residential income.
Two separate buildings on two lots, held in a single title.
Get in touch today to learn more about this unique opportunity.
Agent details;
Muir Gold
0274336989
Key features
Add value
Ability to add further accommodation on the upper storey
Anchor tenants
Six handsome and ever-popular apartments with a gross income of $142,480 per annum
Character building
The apartments are very much New York style - spacious and character-filled, with rustic charm
Location
Highly sought-after Warehouse Precinct
Occupancy
Ground floor commercial space, vacant and available for lease
Parking
Undercover parking available
Prime frontage
On State Highway 1, with a high passing traffic count
