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Glebe
The Abbey
156-158 Bridge Road
4 
4 
2 
Contact:
Mark Tooth
- Mobile
- 0417 696 699
- Direct
- 02 8093 5222
- Links
- Contact agent | Profile
Property ID: 7P0247
Belle Property Glebe & CBRE are pleased to offer the opportunity to acquire arguably Glebe's last iconic development opportunity "The Abbey Site".
Accommodation - This property represents a truly flexible investment with development upside. The new owners will benefit from a unique development opportunity comprising of the iconic heritage building known as "The Abbey" and D.A approval site for 7 x 3 bedroom luxury townhouses and an executive residence, "Hamilton" plus 29 underground carspaces.
Flexible Investment - The Abbey could be occupied as retail/commercial premises, whilst the balance of the land could be developed. The Abbey building could be leased providing a rental income that may help cash flow construction.
D.A Approval - The existing D.A. has substantially de-risked the project providing a clear pathway to profit.
Pre Paid Financial Contributions - The vendors have paid section 94 contributions of $227,997, providing a direct saving to the new owners.
Further Planning Improvements - The sale is subject to a section 96 amendment for the deletion of the basement level under the Abbey savings significant construction costs.
Design Elements - Leading architects MAYOH have designed residences to maximise gross realisation.
Strong Local Market - Glebe is a highly sought after real estate market from both owner occupiers & investors.
Further Upside - Subject to council & other approvals The Abbey could be developed into commercial strata retail/offices or residential units.
Co-Agent:
CBRE
Gavin Lloyd
9333 3343 or 0407 995 450
gavin.lloyd@cbre.com.au
