$5m price tag for historic former Redfern Post Office

Cashed-up investors and owner-occupiers are expected to compete for the former Redfern Post Office building, which has hit the market with price expectations of around $5 million. 

Located on the corner of Redfern St and George St, the currently vacant heritage-listed building was built in 1882 in the Victorian Italianate style and consists of 330sqm of commercial space across two levels.

Listing agent Trent Gallagher of Colliers International says he expects to see interest come from both domestic and international buyers due to the unique nature of the site.

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“It has a 140-year history, is heritage-listed on a corner block and has a clock tower so it’s a pretty special offering,” he says.

With zoning of B2 local centre, the building could potentially be transformed into a home, Mr Gallagher added.

The former Redfern Post Office was built in 1882.

The building was designed by James Barnet of the Colonial Architect’s Office, with the most prominent feature the four-storey clock tower.

Architectural firm DKO, who recently refurbished the interiors, is selling the property, having used the building as an office.

It was formerly owned by prominent publicist Max Markson, who used it as the base for his business Markson Sparks for five years.

Commercial property has largely bucked the trend seen in the residential market, still recording solid growth prospects and strong sales.

The interiors of the former Redfern Post Office have been renovated.

Nick Tuxworth of Savills Sydney says the commercial market has not seen the downturn that residential property is experiencing.

“Everything is really strong,” he says. “We are getting good numbers through inspections and inquiry levels are high.”

Just last week a prime residential site on Marrickville Rd in Dulwich Hill sold at auction for $3.735 million through Nicholas Smith of Raine and Horne Commercial.

There were five bidders at auction, with 13 contracts issued.

This article from The Daily Telegraph originally appeared as “Former Redfern post office up for sale with guide of around $5m”.