Rare opportunity arises to acquire heritage freehold property in highly sought-after Waterloo precinct

Featuring a building area of 91 sqm, strategically located within the booming Waterloo precinct

An unrivalled opportunity has arisen for owner-occupiers and investors looking to secure a boutique mixed-use space rich in character and historical significance in the heart of Waterloo.

Located in the vibrant and rapidly evolving City Fringe precinct, this heritage listed substation features flexible MU1 Mixed Use zoning, offering a wide range of potential future applications. This could include a boutique residential conversion or various commercial uses such as a restaurant, bar, or creative office, all subject to Development Council Approval.

Exclusively appointed for this listing are the Colliers team of Michael Crombie, Trent Gallagher, Sam Thomlinson and Justin Rosenberg.

“Heritage and character go hand in hand. It is very rare to have the opportunity to acquire such a unique property like this, in such a highly sought after location like Waterloo,” Mr Thomlinson said.

“Poised to directly benefit from the adjoining developments, this boutique character building is one not to miss,” Mr Rosenberg said.

“This original substation is perfect in every way. The flexible zoning allows both residential or commercial use as this beautiful historic freehold building is set amongst a new generation of brand new residential strata developments within the iconic Danks Street Waterloo precinct,” Mr Crombie said.

“This boutique asset is located in the booming Waterloo precinct only seconds from the hustle and bustle of Danks Street which features amazing amenity through cafes, restaurants, high end furniture showrooms plus much more,” Mr Gallagher said.

241 Young Street resides in the heart of the Waterloo Precinct set to evolve into a vibrant new suburb, with hundreds of new apartments soon to be developed, offering an abundance of retail, recreational, dining and transport amenities seconds away.

The property is positioned adjoining the DA approved mixed-use development of what is known as ‘Young Street Village’, which will consist of six mixed-use buildings comprising of a mixture of high-end residential and commercial accommodation.

This mixed-use freehold at 241 Young Street, Waterloo is for sale via an Onsite Auction, held at 10:30am (AEST) on Saturday 19^th October 2024.