One of Balmain’s last waterfront development sites is for sale
One of the last remaining development opportunities in Balmain is on the market, with many buyers already having bold plans for the site.
An unrenovated waterfront Balmain property across the road from the ferry wharf is set to make way for a luxury strata development
Described as one of the Balmain’s last development opportunities, 40 Thames St is on a 309sqm block.
Sitting in a residential zone, the property comes with DA approved plans to build two luxurious new residences.
MORE: Living in Sydney is getting cheaper
Squatter wins rights to $1.7m home
Reno queen sells Birchgrove pad
The three-bedroom home is being auctioned off on June 27 with a $2.6 million guide through Cobden and Hayson Real Estate’s Rosemary Chen and Matt Hayson.
While it comes with a DA, Mr Hayson said the property is attracting a variety of buyers who have different plans for the site.
“There are those who love the location and want to tinker around with the property, while others will go ahead with the full DA,” he said.
“We’re even getting interest from those who want to use parts of the DA and convert it into one house,” he said.
Mr Hayson said the Thames Rd property was a great chance to buy an almost waterfront block.
“There are not many opportunities like this left in Balmain,” he said.
“If this block was right on the waterfront, it would probably have a guide for nearly $5 million.”
The three-bedroom home has 105sqm of internal living and is being offered for the first time in 20 years.
It features Harbour Bridge and water views, plus solar panels on the roof.
Mr Hayson said whoever buys the property will need to do some work to the home.
“The balcony has fallen off, but the home is not leaking and internally it is fine,” he said.
SIGN UP FOR THE LATEST NSW REAL ESTATE NEWSLETTER
Originally published as One of Balmain’s last waterfront development sites is for sale