A premium opportunity has arisen for Mercer Property to bring Unit 2/1 Greenknowe Avenue (also known as 48 Macleay Street), Potts Point to market via public Auction.

On the ground floor of the stately Kingsclere building, upon one of the busiest intersections of Potts Point, this heritage site benefits from high foot traffic and a prominent position in a dynamic inner Sydney neighbourhood.

Potts Point is in its prime, establishing itself as a favourite city fringe neighbourhood popular with both long-term locals and regular visitors. It's a hub of cosmopolitan culture where bustling cafes, popular restaurants, busy boutiques and weekend farmers' markets exist alongside a thriving residential community.

For more than 60 years, Unit 2/1 Greenknowe Avenue has been occupied by a medical practice. Currently leased to Macleay Street Medical Practice, the well-frequented clinic is operated by a dedicated collective of trusted health professionals including four general practitioners, a psychologist, a registered nurse and pathology services.

Kingsclere features a charming red brick facade, reminiscent of an Art Deco New York apartment building. Designed by architects Halligan & Wilton and built in 1912, the historic site is heralded as the original "high rise" residential building in Sydney and the first constructed in the Federation Free Style popularised in the United States but rarely seen in Australia.

Key features include;

- Strata titled suite with 224sqm of internal space
- Established tenant with a long history as a medical practice
- Long lease expiring in November 2027
- Net annual income of about $212,788.13 + GST
- Corner location on one of Potts Point's busiest intersections
- Surrounded by prominent eateries
- 500m from Kings Cross Station
- Tightly held investment in a landmark Art Deco building

Auction details:
The auction will be held on Tuesday, April 30, 2024, at 10.30am (AEDT).
Conducted by Auction Works, the auction will be held on the mezzanine level, 50 Margaret Street, Sydney.

Inspections:
By appointment only

To discover more about this iconic listing, or to arrange a time to inspect the property, please reach out to the Mercer Property team for more information.