Harry Seidler-designed International Lodge set to be recast as 21st century Elizabeth Bay SMSF investment pads

International Lodge, a 1970 block of 48 apartments sandwiched between Ashdown and Ashton on Elizabeth Bay Road, Elizabeth Bay has been sold in one line.

And they are set to become 21st century SMSF investment pads. Studio and one bedders.

It's one of many blocks designed by the noted architect Harry Seidler aroud the district which include Ithaca Gardens, Ithaca Road, Elizabeth Bay, Aquarius, 50 Roslyn Gardens, Rushcutters Bay, and Ercildoune Apartments, Elizabeth Bay Road, Elizabeth Bay. The design graphics are lodged at the State Library of NSW.

The Peter Blake book "Harry Seidler: Architecture for the New World" of 1973 has the project featured with Max Dupain photos.

The rumoured sale price of the aging modernism block was just under $19 million.

Apparently after a midnight battle between veteran strata title subdividers, McDonald Industries and Mike Lowry, the eventual winner from Pelican Properties.

The price equates to around $400,000 per apartment. Letting agents ENR declined to reveal the current rentals, but the last known advertised rental Property Observer is aware of was $395 for a one bedder with district views in August last year.

Its the eight storey high rise building (pictured below) within the complex which includes terraced apartments that were apparently not in the sale.

insights-sept-5-pic-one

Run Property's Paul Ephron has been seen showing over designers and the like over 100 Elizabeth Bay Road though he declined to comment on whether it was a prelude to getting the sales marketing campaign.

The individual apartments - which were originally serviced apartments on their early 1970 completion - are expected to come to market later this year with about half having a car space offering.

Down on the loop car spaces could add between $75,000 and $100,000 to the pad price.

Jonathan Chancellor

Jonathan Chancellor

Jonathan Chancellor is one of Australia's most respected property journalists, having been at the top of the game since the early 1980s. Jonathan co-founded the property industry website Property Observer and has written for national and international publications.

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