Offered to the market for the first time in more than 50 years, the home of a celebrity dry cleaners in Rozelle has seen the changing face of the suburb and presents a unique opportunity to secure a large corner block in the much sought after area.
Gunning Real Estate Sales Agent Robert Maher said the current owners purchased the property in 1964 as a dry cleaning business. “The shop was a hardware store for many years before the mid '50s when the dry cleaners was established which has been running ever since,” Mr Maher explained.
“The current owners cared for the changing fashions through the 60s, 70s & 80s, until they sold it in 1983 to the current operators.
“The dry cleaning business has served many celebrities over the years including Nicole Kidman to Joe Hasham. They cleaned the local mayors and the priests robes as well as theatrical and performance costumes,” he added. Director of Gunning Real Estate, Tom Speakman said the shop has seen the suburb evolve from servicing wharfies to the affluent café culture it is today.
“The very tightly held location in Darling Street is again experiencing a rejuvenation and purchasers will benefit from the improving infrastructure and local amenity with the introduction of the WestConnex, the proposed Metro West Rail line and gentrification of Rozelle Park.
“Long term capital growth as a result of these improvements as well as its close proximity to the proposed new Balmain Leagues Club entrance and the foreshore redevelopment make this an attractive property.
“There is an excellent opportunity to value add and reposition the asset in order to unlock additional floor space and rental income. Being on a corner position, with 48 meters of street frontage there are a myriad of potential redevelopment options for the 381sqm site,” Mr Speakman added.
The property at 714-716 Darling Street, Rozelle goes to auction on 15 August 2017 at 10.30am at AuctionWORKS, 50 Margaret Street, Sydney unless sold prior.
A Two storey restaurant and office located at number 85 on St Kilda's iconic Acland Street, will be auctioned on-site by Beller Commercial on the 17th of August at 12pm.
Currently leased by well established restaurant Rococo and occupying a prime position on one of Melbourne’s most eclectic and successful precincts, the property has a land area of approx 191 sqm, building area of approx 217 sqm and currently returns $135,200 in rental per annum.
Acland Street is a popular hot spot along the famous St Kilda precinct, comprising many cafés, restaurants, bars, hospitality venues, fashion and footwear stores with thousands of visitors hitting the strip each year.