Rare offering to live and work from home in Redfern
Live, work and play in this sprawling mixed-use Redfern residence that combines a house and home office space all in one.
The freehold property at 685-687 South Dowling Street, Redfern, spans approximately 470 sqm across four levels and encompasses eight bedrooms, two kitchens and six bathrooms.
The premium abode, which is within three kilometres of the Sydney CBD, is on the market for $4,849,000.
In its heyday it was an upmarket restaurant, and it has two street frontages and rear lane access.
Agent Michael Xanthoudakis of Richardson & Wrench Newtown – Newtown who is handling the sale along with Augusto Gerocarni and Phoenix Tysonn of Ray White – Woollahra said the property was a unique offering for Redfern.
“You have mostly got the typical retail shopping residence but something like this, a boutique style, is very rare,” he said.
“It’s got the two lots and it can be subdivided, and you’ve also got the mixed use for it. It is a flexible mixed use, suitable for commercial or residential. It is perfect to work and live – that’s what I like about it.”
The boutique style building is rare given it is mixed use zoning. Picture: realcommercial.com.au/for-sale
Mr Xanthoudakis said the property would suit a professional such as an architect who wished to set up an office at home as opposed to using the front of the property as a retail showroom.
He said both commercial and residential buyers had expressed interest in the property and the current vendors were moving on as they want a home with a pool for their three children.
The property features its original façade, restored heritage features and taking centre stage, is a large ballroom style showroom, or oversized living and dining room.
Buyers advocate and propertybuyer.com.au chief executive officer Rich Harvey said properties of this kind were currently very attractive to buyers.
“People absolutely love this kind of thing. The reason being that on this one you could literally have your work area upstairs, then your living area downstairs. Or vice versa,” he said.
“People love that separation of work and home even within the same building and you can easily achieve that in this kind of property.”
How Covid has changed buyers’ needs and wants
Since the pandemic, Mr Harvey said amenity and a home office had become highly ranked ‘must haves’ for buyers.
The property features two kitchens. Picture: realcommercail.com.au/for-sale
“What we see on the wishlist, or the buyer’s brief from our clients, the home office has risen in prominence dramatically from sort of like eighth position to first or second position,” he said.
“Also the other thing on the list is more amenity. Everybody wants the ‘lifestyle now’ factor. I think before Covid people would go, ‘I’ll get what I can afford.’
“But I think when Covid hit and people went, ‘You know what, I want everything now. I want the resort at home. I am not travelling therefore I want to have a really beautiful home environment. If I am going to be stuck here in lockdown for six weeks, or eight weeks or more I want it to be really nice,’ and that’s why everybody upgraded their digs.”
Working from home boom
PropTrack senior economist Eleanor Creagh said the pandemic fuelled a boom in remote working and has had a lasting impact on many professionals who continued to work remotely, or engage in hybrid working arrangements.
Upstairs there is another large living and dining space that opens out to a terrace. Picture: realcommercial.com.au/for-sale
“As a result, there has been continued interest in dwellings with space to work from home, but also an increase in businesses looking for more lifestyle oriented workspaces to entice employees back to the office,” she said.
“Mixed use zoning, suitable for both commercial and residential purposes, could provide opportunity for those looking for a vibey work-from-home set-up or a business looking to acquire a more boutique commercial space and home in one.
