Leichhardt warehouse with residential development potential sold for $3.335 million

Leichhardt warehouse with residential development potential sold for $3.335 million
Leichhardt warehouse with residential development potential sold for $3.335 million

A two story Leichardt warehouse with rezoning development potential has been sold for $3.335 million.

The "Elements I Love” owners Brooke Crowle and Tim McGuigan who sold 124 James Street plan to relocate the business to Byron Bay. 

Currently surrounded by three street fronts and freestanding houses, the property’s zoning permits the construction of a house, but also the ability to build apartments, multi-dwelling housing, semi-detached dwellings and shop top housing up to 14m high if granted council approval.

It is currently surrounded by three street fronts and houses. 

Sydney City Fringe Principal Kristian Morris and Ray White Commercial NSW sold the listing after six of the 11 registered bidders participated in the auction.

Set on an 875 site, the holding is located close to the intersection of the City West Link Rd, James Street and Darley Rd, just 5kms to Sydney CBD and a 2 minute walk to the Light Rail stop. 

Last sold in 1998, the property transacted for $500,000.

The building was also listed in August 2018 but following an unsuccessful expressions of interest campaign it was taken off the market in January 2019.

It was bought by a local boutique developer.

Tags: 
Industrial Leichhardt

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