8 Tideswell Street, 124 & 126 Parramatta Road Ashfield, NSW 2131

Ray White Commercial is proud to present to market this substantial development opportunity in the heart of Sydney's Inner West. The agents are appointed under instructions from Costa Nicodemou as the Receiver and Manager of Newpoint Advisory.

The development opportunity benefits from a combined site area of 2,250sqm* across three (3) separate titles. Additional attributes include a 30m* frontage to Parramatta Road, rear access from Tideswell Street and a partial DA approval on the site for 41 serviced apartments with a GFA of 3,716sqm*. The DA does not include 8 Tideswell Street which provides scope for future uplift.^ The property is currently fully leased returning an approximate gross income of $140,000 per annum.

The site is zoned part E3 'Productivity Support' (previously zoned B6) and part R3 offering a wide range of development opportunities including serviced apartments, boarding houses, childcare centres, multi-dwelling housing, seniors housing, light industrial facilities, hotels, office premises, takeaway food establishments, and mechanical premises, among others.^

The Site is positioned 800m* from Summer Hill Train Station and 1.3km* from the major shopping centre, Ashfield Mall.

Additional highlights of the asset include:

• Site area of 2,250sqm*
• 3 separate lots offered in one-line
• Fully leased holding income of $140,000* per annum
• 30m* frontage to Parramatta Road
• Rear lane access from Tideswell Street
• Improvements include: 1 x Unit Block (8 Tideswell Street), 1 x block of flats (124 Parramatta Road), 1 x commercial tenancy (126 Parramatta Road); 26 bedrooms in total
• Zoned E3 Productivity Support & R3 Medium Density Residential
• FSR 2 : 1 (E3) & FSR 0.7 : 1 (R3)
• Current DA approval at 124-126 Parramatta Road for 41 serviced apartments with 3,716sqm* of approved gross floor area. Additional GFA could be achieved by incorporating 8 Tideswell St (S.T.C.A)
• 800m* to Summer Hill Train Station / 4.5km* to Sydney University & RPA
• Receivers and Managers Appointed

The property is offered for sale by negotiation.

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

* Approximately
^STCA