Marrickville’s former Greek Macedonian Club offers development opportunity
A former Greek Macedonian club in the heart of Marrickville looks set to be redeveloped after coming up for sale to much fanfare.
The recently closed Greek Macedonian Club — Alexander the Great and four neighbouring houses occupy a combined 2624sqm parcel of land on Livingstone Rd.
Since coming up for sale last week, 160-174 Livingstone Rd in Marrickville has already seen strong buyer inquiry from local and interstate buyers.
Sydney Wide Property’s Aris Giotas says buyers are looking at the site with the potential for future development.
“This block is highly desirable for those interested parties because it is located right near the hub of Marrickville,” he says.
“We’re also finding landholdings in Marrickville are some of the most sought after in the inner west at the moment.”
CoreLogic reveals the club and the four houses have been owned by the Greek Brotherhood Trustees Pan Macedonian since at least the late 1980s.
The club and car park is currently zoned with RE2 zoning which allows for recreation facilities and the four houses fall under R2 low density residential zoning.
Giotas says buyers who want to explore options like a residential development will have to go through the process of getting the site rezoned.
“There is an endless amount of options on what you can do with the property,” he says.
While the clubhouse has been vacant since closing in 2018, the four houses are all tenanted and yield a rental return of $143,520 per annum.
Expressions of interest on purchasing the combined landholding or in individual lots are open until the end of the month.
This article from the Inner West Courier originally appeared as “Marrickville’s former Greek Macedonian Club is for sale amid possible redevelopment”.