An unrivalled city fringe freehold gem with DA approval for additional floor space

21 May 2024

I.B Property is thrilled to offer the recently refurbished commercial freehold warehouse conversion located at 145-151 Cleveland St, Chippendale. ‘The Darling” is an inspiring space boasting city fringe elements such as exposed brickwork, expansive windows inviting natural light, and captivating art murals, setting the stage for a vibrant work environment.

Situated on a prime corner occupying 1,077sqm of land, this property offers unparalleled exposure with its unbeatable frontage to bustling Cleveland St. Surrounded by prestigious institutions including Sydney University, leading hospitals, Redfern station, and the burgeoning Tech Central precinct, the location offers visibility and convenience.

Spanning 1,194sqm of Net Lettable Area (NLA) with an additional 9 enviable onsite secure car spaces, this recently renovated commercial building features fitted-out bathrooms and end-of-trip amenities, prioritizing comfort and convenience for occupants.

The versatile open plan layout over 2 floors presents the opportunity for occupiers to design their HQ with minimal capital expenditure. The property boasts valuable Development Approval (DA) for further Gross Floor Area (GFA) expansion, meticulously crafted by renowned fringe architects SJB, unlocking significant development uplift.

The I.B Property team of Shane Blackett and Dimitrios Franze have the listing, on behalf of Addenbrook with expectations of circa $16 million. “The Sydney city fringe market has been the most resilient commercial market in the country, with Chippendale leading the way on the back of the multibillion-dollar Tech Central Precinct,” Mr. Blackett said.

Dimitrios Franze added, “Value add opportunities in the city fringe are such rare commodities, ‘The Darling’ provides the opportunity for an investor, occupier or developer to enter the market and utilise the current DA or capitalise on the strengthening rental market in the City Fringe corridor”.

I.B Property exclusively offer 145-151 Cleveland Street, Chippendale for sale via Expressions of Interest closing on Thursday, 20th June at 4.00pm.