La Gonda warehouse in Chippendale up for auction

La Gonda House, a two-storey warehouse in Sydney’s Chippendale is going on auction on November 12 through Colliers International.

Situated at 35-45 Myrtle Street, the warehouse offers strong income prospects.

The site consists of six individual tenancies, with the potential for a mix of uses.

“The building exudes charm and character - a great example of Inter War Art Deco design that is becoming rarer and rarer in the Chippendale Area,” said listing agent Michael Khouri of Colliers International.

La Gonda House will suit a range of investors looking to capitalise on inner city rental demand and high growth in the Chippendale area, added Colliers agent Matt Pontey.

The warehouse occupies a 663 square metre corner block, has three street frontages and is close to Sydney University, UTS and Notre Dame, and student accommodation facilities.

La Gonda generates strong income and will provide the new owner opportunities to value add, part-occupy or renegotiate the current leases, according to Colliers International.

The current net income is $182,554.84 excluding GST. 

The estimated fully leased net income is between $222,500 to $242,500. 

A Sam Hood photo from the 1930’s/40’s is on State Library of NSW records.