Investor buys Art Deco apartment block
Historic Hunter Lodge, in beach side Tamarama, has sold on a second attempt.
The vendor had to accept a discount – $6.9 million – for the Art Deco apartment complex, with six apartments, at 11A Fletcher Street.
It was secured off-market by a buyers agent on behalf of a local investor.
The price is against a $10m-$11m guide when it was listed for sale last November.
The vendor paid $5.9m in November, 2022.
It also traded in August, 2020, for $5.83m.
Also today we are reporting a boarding house in inner-west Ashfield is trading for $10m – a circa six per cent yield.
Hunter Lodge
On 474 square metres zoned Medium Residential, Hunter Lodge contains four one bedroom apartments, the balance configured with two (story continues below).
Some units open to courtyards.
The complex is also surrounded by established gardens.
There are also two lock up garages separate to the main building.
PRD Real Estate’ss Alexander Phillips and Vince Licarto marketed Hunter Lodge, on a tree-lined street 200 metres from Marks Park.
Tamarama is eight kilometres east of Sydney’s CBD.
Costi Cohen’s Simon Cohen acted for the buyer.
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