NEWS

Record price expected for Newtown property

One of the largest residential home properties in Sydney’s inner west to hit the market.

Colliers International are selling 20-28 Munni Street, one of the largest residential homes in Newtown, which is expected to set a record price for the area.

Situated in a premium location within Sydney’s highly sought after inner west ring, the 622 sqm property is expected to sell for around $5 million, at a private auction on Saturday, August 19.

“We have seen a strong demand for residential development property in the Inner West, given recent price growth for medium and high density living in Newtown,” said Trent Gallagher, Director of Sales and Leasing at Colliers International.

“The individual attributes of the property provide for excellence in residential design, development and construction given the subject land. It is suitable for owners to live in its current form, or is perfectly located for being developed into a boarding house or terrace housing.”

The property on the site is a unique homestead with period features, four bedrooms and three bathrooms, open plan and flexible living areas, and plenty of space for entertaining or keeping the kids occupied with its large North facing backyard, deck and pool, established garden (and off street parking).

“The University of Sydney and the University of Technology Sydney are both located within proximity to the property via train, bus and car, creating unrivalled appeal for developers to purchase land that caters to both owner-occupiers and investors.”

Newtown has become an increasingly popular area to live, with quality food offerings, amenity and education right around the corner.

The property is close to the Newtown and Erskinville shopping hub and is walking distance to both Newtown Primary and Newtown High Schools as well as Enmore Park and Sydney Park.

Newtown

Munni Street is located less than 1km from the center of Newtown, approximately 650m from Newtown and Erskinville train station and 800m from St Peters station.

“The moderate scale of the offering will appeal to a wide buyer pool, and is of a comparable size to other properties which have traded at premium levels in the inner west,” said Andrew Graham, National Director of Consultancy at Colliers International. 

“We are expecting strong interest from a diverse buyer group including local and interstate developers, builders, specialist buyers and Asian first time entrant buyers coming into the market.”

20-28 Munni Street is located at an easy walking distance to the vibrant, cultural retail hub in Newtown with convenience to restaurants, schools, medical facilities and premium tertiary campuses.

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