Alistair Walsh | 12 November 2012

Former butcher shop-turned-office space listed in Sydney's inner west

Former butcher shop-turned-office space listed in Sydney's inner west

A former butcher shop now office boutique office space has been listed for sale in Sydney’s inner west.

The 1890s Petersham butcher shop now has five commercial offices and a two-bedroom home upstairs.

The corner building is currently home to The Back Room designer outlet.

The property comes with four separate entrances for the various functions.

It is being sold with tenants or vacant possession.

The upstairs residence has two bedrooms, one with a walk-in robe and ensuite. It has a large living area with timber floors and a separate dining area.

The office space opens to a rear veranda and private garden courtyard and the residence opens to an elevated barbecue terrace.

Agent Jennifer Aaron is selling the property with expectations of more than $1.4 million.

Half the property is currently occupied by The Back Room owner, who lives upstairs.

If the property were bought by an investor for $1.5 million the potential yield of the property would be 8.5%-9%.

The vendor has been renovating the property for some time.

Aaron says she has received significant interest from advertising agencies and marketing companies as well as from potential investors.

Aaron says there is scope to reconfigure the property into one residence or to divide into two single-level dwellings, subject to council approval.

The property, at 74 Palace Street, comes on 227 square metres. It goes to auction on November 24.

The vendor bought the property in 2000 for $550,000. Prior to this it sold for $360,000 in 1995 and $210,000 in 1988.

The property was an entrant in the 2010 Marrackville Medal award, which recognises conservation work in historically significant properties.

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