First time offered in over 50 years
This iconic development opportunity is on the market and available to be secured, and probably a once in a lifetime opportunity now to acquire such a site, as all other similar properties have already been developed. In response to buyer feedback, we proceeded with an investigation to ascertain the viability of an application for a lot reconfiguration, and this material is available to serious parties. This has been confirmed and now this property offers the best opportunity in quite some time, to purchase a corner double site with a 2 street frontage, and with the knowledge that council will approve the application to reverse the access from Hilton Terrace to the preferred Sydney St side, by virtue of a boundary re-alignment or lot re-configuration. Both lots can have river views, and the land is perfectly flat. We still have the original title deeds from 1961 with the size in perches! It has been in the same family for over 50 years and we believe the seller's asking price is realistic for two blocks in this tightly held river precinct. My advice, first in first served!
For those that live interstate or overseas, the process of gentrification that has arrived in Hilton Terrace is big-time, with a pattern of high value sales and offerings under-pinning what the locals had known for ages – and that this area had been overlooked. We all knew that Hilton Esplanade was a sleeping giant but had only been awoken some years ago, which slipped under the radar until last year. The proof is there to be seen in the sales data with recent sales above $1.6 million.
The existing cottage is very sound, and has had extensive work done over the years to keep it that way, with re-stumping and a new roof as well. It has years of life left in it and will continue to provide a holding income should you be taking a longer term view to realising the property’s full potential. The cottage has now become vacant, with the tenant recently having moved on, but we have no doubt we can keep it rented for you on a permanent lease should you prefer. The proximity to all that the riverfront precinct has to offer is obvious.
For scheduled open houses, we will be conducting them every Saturday until sold, or a private inspection at any time. Phone David . 0411 862 954.
Open for Inspections
