Former Darlinghurst swingers club up for sale with approved DA for a boarding house
Two neighbouring inner city terraces, including one that was home to a popular swingers club, have hit the market with approved plans for a boarding house.
The Crown Street terraces at Darlinghurst have dual street frontage, eight bathrooms and 10 bedrooms with some unusual quirks.
The amalgamated site is on the market with a $4.5m guide ahead of a May 22 auction with Oxford Agency — Darlinghurst agents Matt Marano and Marcus Abraham.
The terrace at 93 Crown Street was home to swingers club, Our Secret Spot, until it recently moved to a new address in the inner west.
That property features everything you would not expect to find in a typical inner city terrace including a swing in one of the bedrooms, velvet furniture, large showers beside beds, a locker room and reception lounge.
A two-bedroom apartment was advertised for rent with a $400 per week asking price at the 95 Crown Street.
Mr Marano said the combined property is fully tenanted and is currently generating about $161,400 per annum in rental income for the sellers.
With B4 Mixed use zoning and a floor to space ratio of 3:1, the address can be used for a variety of commercial, retail and residential offerings.
Approved plans include a 22m building at the rear of the property, while the front of the historic terraces will be kept in tact. The site will have 16 self-contained rooms and about 210sqm of commercial space.
Mr Marano said the listing comes at a time when demand for short-term accommodation offerings has risen as Australia begins to slowly open in wake of the 2020 COVID-19 shutdowns.
“The market is bouncing back with a lot of buyers looking for short-term accommodation products,” he said.
“This site is the perfect opportunity for local developers who are looking to build now to capitalise when borders reopen.”