Julian Cress finally sells his dad's Annandale warehouse

As the scaffolding comes down from ST KILDA's Gatwick Hotel, the location of this year's series of The Block, its executive producer Julian Cress can focus all his attention on the nearing airing of the show.

He's finally found a buyer for his redundant Annandale warehouse which he inherited from his late father, the Archibald award-winning artist Fred Cress.

The property space failed to sell at its March McGrath auction when it had a guide of $4 million after being listed in February.

It then went up with a guide of $4.5 million, selling 77 days into its marketing campaign to a Potts Point couple.

Fred Cress had used the Johnstone Lane warehouse as his creative studio.

Julian commissioned architect Julian Brenchley and designer Darren Palmer to undertake the recent conversion which was recognised with the 2015 MBA's Excellence in Housing Award.

He and wife Sarah have been based in Albert Park after The Block became more permanently based in Melbourne.

Cress became critical of Sydney council approvals in his pursuit of development sites for the Channel 9 show.

He has been executive producer of the hit show since its first series in 2003 where they renovated a block of apartments in Bondi.

Set at the end of a laneway, the home has four bedrooms, three bathrooms and a ground floor gallery.

The warehouse features polished concrete, exposed brick and soaring ceilings, interlaced with exposed steel and timber trusses.

There's an open plan upper level integrated with a private rooftop terrace.

The prior to-price for a converted warehouse in Annandale sat with the $3.7 million paid last June by fellow artist Jonathan Newton, the son of Britain’s Gravity Media Group boss John Newton.