eBrochure

632-634 Bourke Street

Introduction

INTRODUCTION

McGrath is pleased to present to the market 632-634 Bourke Street, Surry Hills for sale by way of Public Auction – November 17th onsite at 12.00pm.

An award-winning masterpiece and city fringe architectural landmark, 632-634 Bourke Street, Surry Hills The HQ of architectural firm Smart Design Studio and home of William Smart is a multilayered mixed-use adaptation of two meticulously restored historic buildings.

Offering exceptional versatility and a multitude of possible configurations, the unique commercial and residential development comprises of flexible and functional office interiors, as well as a sublime two-bedroom rooftop penthouse.

It has a rare three street frontage with independent access to Bourke and Ridge Streets, and occupies a prominent corner position in the heart of Surry Hills.

The north-facing building consists of a basement, two levels of design studio and a rooftop apartment and heritage stables at the rear. It’s rare to find a property of

this calibre in this location, which is about to be transformed by the new light rail that will be operational early 2019.

Having outgrown the space, Smart Design Studio will soon be moving to its new home and now the opportunity awaits for a lucky owner occupier or investor to call 632 Bourke home.

The property provides an array of configurations such as a full commercial HQ or a mixture of commercial and multi residential apartments or one extremely generous home.

The investment is a fully leased asset which generates a net income of $411,120 pa + GST.

Executive Summary

EXECUTIVE SUMMARY

Address

632-634 Bourke Street, Surry Hills

Property Type

Commercial HQ and Dwelling

Local Government Authority

City of Sydney

Zoning

Residential Sydney Local Environmental Plan 2012

Land Area

266sqm

Internal area

500sqm

External area

80sqm

Leased Income Studio $348,720pa + GST + Outgoings

Apartment $62,400pa Sales Process

Auction: 12pm 17th November onsite

Inspections

Wed & Sat 11.00-12.00pm By appointmnt only

Property Description

PROPERTY DESCRIPTION

This landmark building celebrates the dynamic contrast between old and new In its current configuration 632-634 Bourke St comprises of two buildings being the main building and the Stables.

The building occupies a prominent corner position with loads of northern light. On the lower levels, the working environment has excellent cross-ventilation and natural light and is beautifully fitted out with modern, integrated joinery and terracotta floors. The sunny courtyard, between the office and rear stables is a great breakout area and visual relief.

The main building comprising of basement + 2 levels of high-quality commercial space with a sun filled penthouse apartment on the top floor.

The apartment’s floorplan is simple with the living and sleeping spaces separated by an island pod, featuring concealed service spaces including bathrooms, kitchen & bedroom storage.

The apartment is surprisingly private and green: with an abundance of glass looking over the mature trees of Bourke and Ridge Streets. The brightness and connection to the outdoors is one of the most remarkable features of this property; a building that has been the recipient of several Architecture and Interior Design awards.

Towards the rear of the property along Ridge Street features the Stables.

Current Plans BALCONY

BALCONY

ROBE

BALCONY

ROBE

TERRAC 4.7 x 4

BED 3 3.3 x 4.1m BED 2 4.8 x 6.8m

MASTER SUITE 4.8 x 6.4m

FP

LIVING 4 x 6.5m

WALK-IN ROBE

DININ 5.9 x 5

ROBE CUP'D

ENSUITE

LINEN

CUP'D

TV ROOM GUEST B 4.5 x 3.7

BATH

BED 4 4 x 4.2m

ROBE

ENSUITE ROBE

LAU ENSUITE

GROUND LEVEL

FIRS

ENTERTAINING DECK

POOL

DOUBLE GARAGE 4.4 x 5.7m

BED 5 4 x 4m

CASUAL LIVING / SELF-CONTAINED 9.1 x 5.8m

ROBE

BATH

KITCHEN

TERRACE

F

ROBE

STREET LEVEL

LOWER LEVEL

S c ale i n m e t re s . In d ic at iv e o n ly . A ll in f or m at i on c on t ai ne d h e re in is ob t ai ne d f ro m s ou rc e s we b e lie ve t o b e a cc u

All information contained herin is obtained from sources we believe to be accurate. We cannot guarantee its accuracy. Interested persons sh

CE 4m

KITCHEN 3.9 x 5.9m

F

BUTLER'S P'TRY

NG 5.3m

M/ BED 7m

ENTERTAINING DECK

POOL

GARDEN TERRACE

TERRACE

UNDRY

RESIDENCE

ST LEVEL

OFFICE 3.9 x 3.2m

VOID

ROBE

TERRACE CARPORT

FOYER 4.6 x 3.9m

VOID

CUP'D

Seaforth Crescent

N

TERRACE 4.4 x 4.9m

Internal 424sqm External 536sqm Land area 639sqm ENTRY LEVEL

u rat e . W e c an no t g u ara nt e e i ts a cc u rac y . I nt e re st e d p e rs o ns s ho u ld m a ke an d re l y on t he ir o w n e n q u irie s

hould make and rely on their own enquiries.

Meticulous restoration of two historic buildings has created a residential space with direct frontage onto Bourke Street.

PROPERTY DESCRIPTION

Site Overview

Property Features

The property is formed from two heritage listed buildings, originally constructed in 1860 and 1889 then fully refurbished in 2004. Conceived as a contemporary steel and glass insertion within an existing masonry shell, the building consists of two levels of studios and a rooftop apartment. With the existing shell of the building having been retained, large vertical apertures cut through to reveal a layer of glass louvres framed by deep stainless-steel casements.

-- Harmonious balance of old and new architecture -- Fully leased till September 2019 -- Commercial HQ or multi residential apartments -- 560m2 of internal space + 80m2 of external space -- Option to transform into one lavish residence, full commercial HQ or a multi tenanted investment -- Stone paved courtyard area features green wall, store walls and nature trees -- High end inclusions and superior finishes -- Secure electric sliding gate, car/bike parking -- Separate light rail and Devonshire Street redevelopment -- Crown and Cleveland Streets eateries and retail offerings -- New Surry Hills Shopping Centre development within walking distance -- Close to Centennial Parklands and Alfred Park and Pool

The building encapsulates its heritage with the raw treatment of the exterior faรงade with a smooth transition to a modern interior.

The rooftop addition connects the double-height banks of glass louvres with an articulated aluminium roof folding down as a screen to the back of the building. The invigorated building successfully incorporates flexible and functional office interiors and a twobedroom rooftop apartment.

Location Property Location Map The property is situated on the corner of Bourke & Ridge Street, Surry Hills towards Cleveland St. This part of Surry Hills will benefit from the upcoming Surry Hills Shopping Centre as well as the future light rail which would have massive appeal to any incoming purchaser investor or 1. 632-634 Bourkeboth Street owner occupier.

Some of the areas best 2. Surry Hills Shopping Centre restaurants and cafes are located within 3. Wimbo Park Development a short walk.

4. Clock Hotel

/

ChelseaBourke Street Park 1. 5. 632-634 Street 2. Surry Hills Shopping Centre 6. Bourke Street Bakery 3. Wimbo Park Development BrettHotel Whitely Studio 4. 7. Clock 5. Chelsea Street Park 8. Surry Hills Markets 6. Bourke Street Bakery 7. 9. Brett Studio SurryWhitely Hills Library 8. Surry Hills Markets 10. Belvoir Street Theatre 9. Surry Hills Library 10. 11.Belvoir Theatre Dove Street and Olive 11. Dove and Olive 12. Beresford Hotel 12. Beresford Hotel 13. 13.Dolphin Hotel Dolphin Hotel 14. Bills 14. Bills 15. 11 Baretto 16. 15.Crown Street Specialty Shops 11 Baretto 17. Prince Alfred Park Pool 16. Crown Street Specialty Shops 18. Entertainment Pool & Sports 17.Stadiums Prince Alfred Park Pool 19. Cleveland Street Food & Beverage 18. Entertainment Pool & Sports Stadiums offerings

19. Cleveland Street Food & Beverage offerings Light rail path L. Light rail stop

17

12

14

13

L

4 15 L

16

3

L 18

19 2

Suburb Profile

Surry Hills is famous for its thriving creative scene, high-density population and small-business community. A vibrant suburb on the edge of the city, Surry Hills is where head-turning fashion, gritty graffiti and street art are the norm. The suburb is known for its warm and friendly spirit, monthly market, local amenities, and annual Surry Hills Festival, all of which contribute to the community vibe.

The rapidly gentrifying area hosts numerous upmarket restaurants and bars along with creative industries and style conscious emerging retailers. It is primarily home to young, working professionals with high earnings and disposable incomes.

Laid back yet still bustling during the workweek, Surry Hills really ramps up at night and on the weekends.

CafĂŠ culture, gourmet food stores and alfresco dining share space with a large number of small businesses lining the narrow leafy streets, lanes, and back alleys.

Locals love a quick bike ride or walk to the city, and can access surrounding areas by tram, bus or train. The council continues to improve the quality of living, developing parks, playgrounds and bike lanes. An award-winning public library that sits opposite Shannon Reserve Park on Crown Street.

SUBURB PROFILE

Eat

Drink

Takeaway

With its high-end Thai dining, it’s warm and welcoming vibe, exotic mix of cocktails pared with it’s sweet, sour and spicy dishes, Longrain Restaurant always deserves a look in.

Hidden at the back of the Clock Hotel, the dimly-lit and mysterious Whisky Room serves more than 100 different varieties, plus a range of classic and inventive cocktails.

Traditional Hawaiian seafood dish packed with cut up pieces of raw fish like ahi tuna, salmon or prawns, garnished with a rice or noodle base & drizzled in tasty condiments.

Play

Shop

Longrain Restaurant 85 Commonwealth Street, Surry Hills

Exercise

Prince Alfred Park Pool 105 Chalmers Street, Surry Hills

The City’s first accessible heated outdoor pool, this family friendly pool complex features the latest filtration systems and water fixtures as well as a green roof to regulate temperatures.

Whisky Room 470 Crown Street, Surry Hills

Centennial Parklands Surry Hills

Covering 189 hectares, it features formal gardens, heritage buildings and sporting fields. It is used by walkers, joggers, and cyclists and contains a restaurant and an event space.

Fishbowl 298 Crown Street, Surry Hills

Collector Store 473 Crown Street, Surry Hills

A curated concept store dedicated to showcasing fashion and lifestyle goods made with care and purpose that have been both locally and globally sourced.

Financial Analaysis

EXECUTIVE SUMMARY

Premises

Studio + Stables

Leasee

Smart Design Studio

Lease Term

2 years

Lease Commencement

1st October 2017

Lease Expiry

30th September 2019

Net Rental

$348,720 per annum + GST

Outgoings

Council rates: $5,686.60pa Water rates: $2,331.08pa

Premises

Penthouse (level 2)

Leasee

12 months

Lease Term

1st September 2018

Lease Commencement

30th September 2019

Lease Expiry

$62,400

Total net income: $411,120pa + GST

William Manning williammanning@mcgrath.com.au 0409 385 815 02 9386 3768