Mortlake warehouse offers 24-apartment plans
Further apartment development is set to come to one waterfront inner west suburb that has seen a stunning transformation over the past decade.
A large 1214sqm site in Mortlake has hit the market with an approved DA for the construction of a boutique block.
The site at 15 Herbert St currently consists of a two-storey warehouse and is across the road from the booming Breakfast Point community.
Listed with LJ Hooker Commercial’s Michael Binskin and Marcus Schraag, Binskin says the property has no formal price guide at this early stage in the campaign.
Artist impression on how the site might look.
“It is still early days and in the current market we are just seeing where the interest is,” he says.
The listing follows a similar 1998sqm property at 118-128 Tennyson Rd in Mortlake with a DA for 36 apartments selling in February for close to $10 million.
The Herbert St landholding has dual frontage and a DA for 24 apartments and 44 parking spaces in a basement. Artist impressions reveal that ground floor residences will have outdoor terraces, while those on higher floors have balconies.
The Herbert St property has a warehouse and office building.
The DA also makes allowances for the complex to have a possible rooftop garden.
Binskin says the landholding presents buyers the chance to snap up one of the last remaining development opportunities of this size.
“There are not many blocks in the area that offer the opportunity to construct an apartment block in a good location,” Binskin says.
It is located across the road from the Breakfast Point community.
The property is expected to attract interest from a mixture of locals who will opt to take advantage of the DA and others who will look to use the site in its current capacity.
“The size and scale of project will ideally suit locals over an interstate investor,” he says.
“The area is really taking off at the moment and commercial buyers find it a highly desirable location due to growth opportunities.”
Mortlake is on the Parramatta River.
Besides the high clearance warehouse on site, there is also basement storage/ parking, office facilities and direct access to public transport.
It has R1 General Residential zoning, which permits for multiple business and residential uses.
Expressions of interest are open until April 16.
This article from The Herald Sun originally appeared as “Mortlake warehouse to make way for 24 apartments in popular inner west suburb”.
