2 O'Reilly StreetParramatta NSW 2150
Property Details for 2 O'Reilly St, Parramatta
Last Listing description (December 2024)
Ray White Commercial is pleased to present to market 2 O'Reilly Street, Parramatta, a DA approved boarding house on the CBD Fringe. The property will be offered for sale via Auction on Wednesday, 11th December 2024 unless sold prior.
This site is DA approved for the construction of a five-storey 39-room boarding house, complete with at-grade parking. This development site offers an exceptional development opportunity for boutique developers and boarding house operators looking to capitalise on Parramatta's growth and proximity to the CBD, transport, and amenities.
Located on the Parramatta CBD fringe, 2 O'Reilly Street is only 600m* from Westfield Parramatta and enjoys convenient access to all that Greater Sydney's economic hub has to offer. With a current vacancy rate of just 1.5%** in the area, this DA approved boarding house site stands to benefit from strong rental demand.
Additional highlights of the asset include:
• Site area - 809sqm*
• Zoning - R4 High Density Residential
• FSR - 0.8 : 1
• Height Limit - 11m
• DA approved for 39-room self-contained boarding house over five storeys
• CC documents ready
• At-grade parking with minimal excavation
• Estimated fully leased rental income - $889,200 per annum*
• 650m* to Westfield Parramatta
• 1.2km* to Parramatta Station and Interchange
• 1.5km* to Western Sydney Parramatta Campus
• 2.2km* to Westmead Hospital
The property is offered for sale via Auction on Wednesday, 11th December 2024 at 10:00 (AEDT). The Auction will be held at Ray White Corporate office, Level 7, 44 Martin Place, Sydney NSW 2000.
Property History for 2 O'Reilly St, Parramatta, NSW 2150
- 11 Dec 2024Sold - Price Undisclosed
- 08 Nov 2024Listed for Sale AUCTION
- 28 Apr 2018Sold for $2,600,000
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0About Parramatta 2150
The size of Parramatta is approximately 5.5 square kilometres. It has 29 parks covering nearly 23.8% of total area. The population of Parramatta in 2011 was 19,744 people. By 2016 the population was 25,788 showing a population growth of 30.6% in the area during that time. The predominant age group in Parramatta is 30-39 years. Households in Parramatta are primarily couples with children and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Parramatta work in a professional occupation. In 2011, 35.9% of the homes in Parramatta were owner-occupied compared with 28.1% in 2016.
Parramatta has 19,453 properties. Over the last 5 years, Houses in Parramatta have seen a 49.85% increase in median value, while Units have seen a 7.30% increase. As at 30 November 2024:
- The median value for Houses in Parramatta is $1,701,579 while the median value for Units is $618,603.
- Houses have a median rent of $640 while Units have a median rent of $650.
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