Former Salem House, Glebe, sold
The historic former Salem House in Glebe, now a multi-purpose investment with four shops, three apartments, 233 square metres of offices and 22 basement car parks, has sold after over 30 years.
At 335-341 Glebe Point Road, on the corner of Ferry, the property found favour with a local for $8.7 million – a 5.2 per cent passing yield.
Two upstairs dwellings each have 74 sqm balconies.
The ground floor unit has a 193 sqm terrace.
The rooftop could be activated.
Alternatively, on 617 sqm zoned Mixed Use, with the potential for it to be rezoned for greater density as part of local urban renewal plans – it could be considered for an extension or replacement.
Stone Real Estate’s Dean Haustead and George Karafotias were the agents.
According to Glebe Society records published by the City of Sydney, the property has also previously been known as Lynwood, Gardener’s Cottage, Matyvile and Glebe Heights.
Also today we are reporting a terrace style mixed-use investment in Woollahra’s Queen Street shopping strip sold for $7m.
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