Boutique block of units for sale in tightly held Kensington precinct

A boutique block of units in Kensington is set to go under the hammer providing a rare opportunity for savvy investors.

Colliers’ Trent Gallagher and Angus Urquhart along with Dean Efrossynis and Nicholas Efrossynis of Laing & Simons Kingsford have been appointed to sell the 689sqm site located at 5 Salisbury Road, Kensington on behalf of Mr. Khamo. Agents expect the property to attract circa $8 million.

The property offers nine two-bedroom units, which all come with an allocated car space, storage area and balcony. This is a rare offering that provides any purchaser a stable, low risk asset with long standing tenants and a significant value add opportunity through internal and external renovations whilst improving the current passing rent.

“The market continues to be starved of stable investment opportunities with investors searching for buildings with strong fundamentals and value add angles,” Mr Urquhart said. “The rental unit market remains strong in Kensington with the most recent vacancy seeing more than 20 groups come through and being leased within the first week”.

“Buyers are looking for stable investments such as this, which will allow them to buy an asset in a blue chip location that will not go down in value. Due to limited supply we predict rents to rise and prices to hold through 2022 throughout most asset classes” Added Mr Gallagher.

5 Salisbury Road, Kensington is for sale via Auction on Thursday, 23rd June 2022 at 10:30am (AEST) at Dexus Place, Level 5, 1 Margaret Street, Sydney.

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