Formerly the Newtown Post Office for over 100 years, this renowned corner has just been beautifully refurbished and offers a stunning mix of prime retail, creative office and six brand new residential apartments.

292 King Street offers three street frontages and sits on a land area of 436.8sqm, which has been developed to offer a total of 940sqm in total GFA approx. 

The Colliers team of Miron Solomons and Jack McGregor have the exclusive listing on behalf of Fivex.

“This property is one of the best examples of working with heritage fabric to unlock multiple and diverse income streams on the best corner in King Street. Growth thoughtout this area over the last decade has been increadible and is further underpinned by significant population growth. King St is one of the few major retail strips in Sydney to benefit from this level of daytime or nighttime activity,” Mr Solomons said. 

“In addition to the stunning refurbishment and brand new apartments, the asset is fully leased and ticks all the boxes on the wish lists we are seeing from investors at every level. The blend of residential, commercial and retail is unique to the area, especially of this calibre. Apartment blocks across Sydney are in hot demand and yields on recent transactions reflect this demand. Retail yeilds on King Street are also amomgst the sharpest in the country. The location, quality of building and lease tenure is likely to see this hotly contested,” Mr McGregor said. 

292 King Street, Newtown has a rich history that reflects the evolution of the area over the years. Originally constructed in the late 19th century, the site has served various commercial purposes, adapting to the changing needs of the community.

The site offers the astute developer the rare chance to add additional value to the building by converting the current level 1 of the heritage building to residential as well as adding an additional floor above the existing residential component. Furthermore, this unprecedented asset benefits from a stratum title, offering the investor the option of a strata sell down.

Throughout 2024 the Inner West market has demonstrated remarkable resilience and growth, positioning itself as a highly attractive area for both investors and businesses. The ongoing investment in transport infrastructure has delivered several significant projects to the Inner West.

Overall, the Inner Wests status remains as a thriving and resilient market, poised for sustained growth in the future. 

292 King St is for sale via Public Auction on Thursday, 29th August 2024 at 10:30am (AEST).

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