Ray White Commercial (SC) is pleased to present this boutique freehold building, currently used as a creative studio and located in the most sought-after suburb in Sydney's city fringe. This asset has been owned by the same family for over 50 years, and now it is offered for sale via Auction on Tuesday, 7th March 2023.

Situated in the heart of Surry Hills, moments from Central Station and the CBD, this property will be sold as a going concern. The current improvements comprise a single level dwelling, with a fully open internal space, providing a blank canvas for future reconfiguration or redevelopment.

The site has a flexible R1 zoning, which allows a wide range of uses for future redevelopment, such as dwelling houses, food & drink premises, neighbourhood shops and shop-top housing^.

Surry Hills is one of Sydney's most desirable and exciting growth corridors, and has been voted by Time Out magazine as the 'coolest' suburb in Sydney and ranked in the top 20 in the world. The property provides a great opportunity for investors, owner occupiers or developers looking to maximise the FSR in this coveted location.

Additional highlights of the asset include:

• Zoned R1
• Site area - 79 sqm*
• FSR - 1.5 : 1
• Height limit - 9m
• Current rental income of $45,000 + GST per annum**
• 500m* to Central Station
• 800m* to Sydney CBD
• 1.2km* to the 'tech precinct'
• Future redevelopment potential^

The property is offered for sale via Auction on Tuesday, 7th March 2023 at 10:30am (AEDT). The Auction will be held at AuctionWorks, Mezzanine Level, 50 Margaret Street, Sydney.

For further information, please contact the exclusive selling agents below.

^ Subject to Council Approval
* Approximately
** Estimated rental income is subject to market conditions at the time of leasing