Developers eye popular Leichhardt antiques warehouse that is currently for sale
Developers are eyeing the opportunity to purchase a rambling warehouse in Leichhardt that has been home to an established antique and salvage business for the last 25 years.
The prime 875sqm site is located across the road from Leichhardt North light rail station and has R1 General Residential Zoning with existing commercial use rights.
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Scheduled to go to auction on August 27, “Elements I Love” owners Brooke Crowle and Tim McGuigan are selling 124 James Stto relocate the business to Byron Bay.
Currently surrounded by three street fronts and freestanding houses, the property’s zoning permits the construction of a house, but also the ability to build apartments, multi-dwelling housing, semi-detached dwellings and shop top housing up to 14m high if granted council approval. It is currently surrounded by three street fronts and houses.
Listed with Ray White Commercial NSW — Sydney City Fringe Principal Kristian Morris and associate Lachlan Palm.
Mr Palm said the developer knock down/rebuild option has been the most popular option among buyers so far, but there has been interest from artist types and architects.
“The potential of creating one very large or multiple warehouse spaces using the space and the bones of the building’s industrial aesthetic is an exciting prospect,” he said.
“The ground floor offers plenty of scope for off-street parking, garaging work vehicles or high bay storage, as well as offices or commercial spaces.
The current building features a big warehouse, showroom and home office. The second level has old floorboards, exposed metal roof trusses and original iron windows where the northern light floods in, which Mr Palm said would make a great open-plan living space should someone wish to keep the building.
There’s also a third-storey mezzanine level, accessed by a funky open staircase with windows offering wide district views.”
Mr McGuigan said the property would be perfect for someone looking to work and live in the same place.
“The dream of creating a space where you can live and work is a really attractive prospect to people like us,” he said.
“We’d love to see it retained as an art-based small business site, and they’re becoming very rare in the inner city of Sydney.”
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