Situated in a prime location, in the hub of the revitalised central suburb of Redfern and adjacent to Redfern train station, this sensational offering is sure to appeal to investors and developers with development approval currently in place for a six storey development being a mixed use 24 room boarding house / student accommodation, restaurant, retail space, loading dock / parking with basement level. The market for student accommodation in Sydney is currently undersupplied with a high level of unmet demand, so this property is hence superbly located close to a number of higher education facilities and the CBD. Further attributes include: * Site currently comprises a dilapidated former two storey hotel * The site has three street frontages in the commercial / retail hub of Redfern * Site area is 232.6m2 (approx) * Zoning is B4 Mixed Use which allows for a variety of alternative uses such as commercial premises, boarding houses, child care centres, educational establishments, hotel / motel accommodation, shop top housing STCA * It is estimated that each boarding room will rent for approx $410/week realising gross income of $500,000 approx p.a * It is estimated that the rental income from the two retail suites will be $90,000 approx p.a For further information, please contact Todd Owsnett, Dean Owsnett or Alex Fu