1920s former Sydney chocolate factory a $3m mixed bag

An iconic 1920s confectionary warehouse in Newtown is on the market for the first time in 40 years.

The former Sydney Confectionary Company site at 10-12 Egan St in Newtown has a $3 million price guide and is due to go to auction next month with Savills’ David Hickey, Tom Tuxworth and Nick Tuxworth.

The property was the scene of many of sweet creations and dates back to Newtown’s industrial roots.

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Sydney Confectionary Company produced an array of confectionary items including their famous ice cream cones at the site until Scoton Press used the facility in the 1950s.

Under the same the ownership for the past 40 years, the Egan St site has been used as a live theatre painting studio.

The warehouse is on the market for the first time in 40 years.

Savills Australia senior executive David Hickey says exposed brickwork of these unique warehouse buildings provides evidence of the major change that has occurred over the course of last 100 years.

“Factories and old industrial warehouse buildings like this attract tenants, occupier and investors who are drawn to buildings that offer level of character and nostalgia that new buildings cannot offer,” he says.

A blank canvas.

Since coming to market in the past week, Savills has received more than 150 inquires on the property from a mixed bag of local and offshore buyers, including investors, owner-occupiers, developers and residential buyers after a blank canvas close to the city.

“They’re interested as there are not many properties like it available at the moment, especially on a block of this size in Newtown,” Savills’s Nick Tuxworth says.

The property can be zoned for numerous configurations including multi-level office, retail, residential or even student accommodation.

The property is getting a mixed bag of interest.

Spanning over two floors, the building has nearly 600sqm of internal space, two separate entrances with rear lane access and a roller door, as well as an outdoor terrace.

It is also in proximity to public transport including both Macdonaldtown and Newtown train services, inner west bus services and the bustling King St retail and dining precinct.

This article from the Inner West Courier originally appeared as “Former Sydney Confectionary Company warehouse in Newtown is on the market”.