Streets of gold: Sydney's inner west sees new $1.45 million plus townhouse offerings

Streets of gold: Sydney's inner west sees new $1.45 million plus townhouse offerings
Streets of gold: Sydney's inner west sees new $1.45 million plus townhouse offerings

Located at 5a-9a Silver Street, St Peters, five newly developed townhouses are available for purchase from $1.45 million upwards.

The properties, of which three-bedroom homes are available from $1.45 million, and four bedrooms from $1.6 million, have been developed by PNC and each come with 2.5 bathrooms.

The Torrens title terrace homes have a northerly aspect, and are said to be designed to maximise sunlight.

Blocks range from 201 to 294 square metres, with storage, gas cooking, SMEG appliances and open designs. Each also has a garden, air conditioning, security alarms, video intercoms and double security garaging.

Joint managing director NSW project marketing for Knight Frank, and exclusive marketing and sales agent, Noel Lucas-Martinez, said that the development is indicative of the gentrification and evolution of the area.

“Located only six kilometres to the CBD and in close proximity to parks, universities and train stations, the luxurious boutique development boasts flexible floor plans to provide for additional multipurpose rooms which are perfect for today’s varied living,” said Lucas-Martinez.

Local purchasers, downsizers, empty nesters, international investors and expats are all expected to show interest in the properties.

Internal size areas range from 159 to 245 square metres, with external areas of 119 to 184 square metres.

The site is located close to bus links, the Princes Highway and shops, including fast food outlets.

There are open for inspections for the next three weeks, with the first at 11am tomorrow.

The median house price in St Peters is $860,000, with the median unit price at $529,750, with median weekly asking rent on a house at $625, and $475 for a unit. This equates to a 3.8% and 4.7% yield respectively.

It appears St Peters, and Silver Street in particular, is fast undergoing development. Recently, the owner of 68 Silver Street put in a planning application to Marrickville Council to demolish the existing house, subdivide the property into two and then build a two-storey house on each allotment. There have been a significant number of applications around this area in the past three years.

The last inner west project undertaken by PNC was three years ago with a 10 terrace home complex, located at 2 Douglas Street, Stanmore, which sold around the $1 million mark, according to 2011 records.

jduke@propertyobserver.com.au

                        

Jennifer Duke

Jennifer Duke

Jennifer Duke was a property writer at Property Observer

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