Site of popular Paddington baker Organic Bread Bar on South Dowling St piques commercial buyer interest
A popular commercial holding with potential to further develop has arrived for sale via private treaty this week.
The three-storey commercial site at 356 South Dowling St, Paddington has been occupied by a local bakery, the Organic Bread Bar, for the last decade.
The 161 sqm site has the potential to be transformed into 320 sqm of office accommodation, with the top floor of the complex currently being used as a two bedroom and two bathroom apartment.
Listed via The Rubenstein Group’s commercial director Jake Fahd, the building works as a passive investment with a potential income of $380,000 per annum.
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“We’ve had about 50 calls in the limited time that it’s been available on the market, so we’re very happy with the interest we’ve received so far.
“The owner is looking to move to Adelaide, this property is likely to appeal to investors seeking a great location and good yields too.”
Investors have the opportunity to capitalise on the location via an additional floor and rooftop terrace STCA.
Features of the building include its low maintenance and passive investment structure, the large, open-plan floor plate with high ceilings and bathroom amenities, ducted air-conditioning, security systems and double glazing.
“Commercial buyers also have the opportunity to occupy the top floor as a primary residence, which is particularly attractive given the location of the site.”
The bakery has a sister site at 354 Liverpool St in Darlinghurst, which also includes a dine-in cafe experience.