Historic Balmain Post Office to be sold for first time in 25 years
Buyers looking to snap up a unique piece of inner west history are sure to interested in the historic Balmain Post Office which just hit the market.
The two-storey Victorian building at 366B Darling St has a third floor clock tower and viewing deck and was designed by Colonial Architect James Barnet costing £15,470.
Since its construction in 1888 it has operated as a courthouse and police station, with Australia Post currently calling it home on a lease that expires in 2022.
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It has over 500sqm of internal gross floor space as well as outdoor areas. The property is one of the most recognisable in Sydney and has three floors that offer retail and commercial accommodation, while also having rear lane access.
The building was constructed in 1888.
It appears to be an attractive prospect for both overseas and local investors, according to selling agents James Cowan and Steam Leung of Colliers International.
“This building is a rare opportunity to acquire a community landmark in a tightly held location which meets the investment mandate of a very wide buyer pool” Mr Cowan says.
“The added benefit of this property, and what makes it unique, is the versatility in occupation and generous returns it offers. Interestingly, the current passing rental is considered to be below market parameters which invites generous rental reversion upon lease expiry.”
The Balmain Post Office has amazing views of the city.
The last time it changed hands was in 1993 when it sold for $1.05 million.
It isn’t the first inner city post office to sell in recent months, with the City of Sydney paying $5.3 million for the former Redfern Post Office.
The Redfern property will be transformed into an Aboriginal and Torres Strait Islander cultural hub.
This article from the Inner West Courier originally appeared as “Historic Balmain Post Office with clock tower hits the market”.
