A unique Redfern warehouse is set to go under the hammer later this month, presenting buyers a rare chance to transform what used to be space for some stables into a stylish mixed-use space.
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The vacant warehouse at 73-75 Wells Street will be auctioned on 31 August 2023 on site, at 5:00 p.m. The raw, undeveloped warehouse offers approximately 465 sqm of flexible space over two levels for $2.5 million.
With vacant possession, the expansive concrete floors and soaring ceilings are a blank canvas ready to be brought to life.
The property’s commercial and residential zoning provides ample options for the site. Potential buyers could capitalise on the demand for urban living by converting it into modern apartments or a boutique hotel. Its large floorplate is also well-suited to a creative office or retail complex.
According to agents at BresicWhitney, the Redfern warehouse presents “significant development upside” given its prime location. The area has become one of Sydney’s most popular urban renewal hotspots, with its eclectic mix of Victorian terraces, industrial buildings and contemporary apartments.
As Domain reports, warehouses are highly sought-after by modern buyers for their adaptable open spaces. Exposed brickwork, concrete floors, and soaring ceilings provide a blank canvas for new owners to make their mark. The large floorplate allows for creative layouts – either embracing an open-plan style or using smart acoustic design to carve out zones without compromising the industrial chic vibe.
For developers or homeowners with vision, this raw, untouched warehouse represents an exciting opportunity to transform an old building into a unique living or working space that celebrates its storied past.
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With Redfern’s popularity on the rise, this unique warehouse represents one of the suburb’s last remaining development opportunities. The auction later this month will determine who can turn the charming heritage building into Redfern’s next must-visit address.
Published 16-August-2023
