A double storey medical centre and two smaller shops covering a prominent 600 square metre corner, at Rozelle, have sold for $8.2 million.
The buyer, an Asia based investor, is intending to repurpose and extend the buildings – 670-672 Darling Street – as a major healthcare asset with a ground floor pharmacy.
Part of the redevelopment fronting Victoria Road will make way for a mural with footballers, Benji Marshall, Blocker Roach and Wayne Peace, actors Brian Brown and Rachel Ward and potentially, a politician (ex-mayor Darcy Byrne).
Colliers’ James Cowan represented the vendor, the Isaac family, which has held the properties since 1999.
About 47 per cent of the lettable area is vacant (story continues below).
In the area, the ex-Balmain Leagues Club was recently approved for a c28,000 sqm mixed-use complex with 167 dwellings, shops, offices and a town square.
“Rozelle has seen further enhancement with Liquorland, Gabriel Motors, Wynstan Blinds and the famous rug store at #32 Victoria Rd, with its perpetual ‘closing down soon’ banners, demolished and replaced with widened roads and footpaths,” Mr Cowan added.
Earlier this month we reported Peninsula Hospitality Group spent a speculated $7.5m on the historic Dry Dock Hotel, in the neighbouring suburb of Balmain.
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