Newtown live music venue The Sandringham Hotel, affectionately known as ‘The Sando’, has been listed for auction on realestateview.com.au by the owners.
The listing reads:
Attention all astute investors, developers/builders, the best of both worlds awaits!
*Definite Sale Required *Wide 12 metre frontage *200 metres form Newtown Railway Station *Prominent position in King St. *Excellent Rear Street Access *Land area 430sqm approx *Massive retail floor area *Building floor area approximately 750sqm *NETT RENT $182,500 pa *Under Marrickville Council ‘Domain’ *Draft Zoning ‘Local Centre’ *Flexible Zoning *Draft FSR; 1.5:1 *Draft Building Height Limit 14m (4/5 Storey) *Possible Redevelopment Site (S.T.C.A.) *Loads of Potential *Current use Sandringham Hotel
This is a rare chance to secure a fully leased retail property with real redevelopment potential in this tightly held retail/resdential precinct on vibrant and thriving King Street Newtown.
The Auction will be held on November 17th, the venue is currently rented out for $182,000 per year. Let’s hope the new owners keep the music ..