This article is from the Australian Property Journal archive
ANOTHER Sydney apartment block has changed hands, this time in the inner western suburb of Dulwich Hill, for $3.56 million under the hammer.
Raine & Horne Commercial’s Luke Smith marketed 28 Barnsbury Gv.
The 480 sqm block of eight units – evenly split between one and two-bedroom offerings – is on a 556 sqm site with five parking spaces and returns approximately $158,080 each year, averaging $380 for each unit per week.
Sydney apartment blocks have been in vogue, particularly ahead of May’s federal election, as investors looked to buy ahead of potential tax changes in the event of a change in government.
Recent significant deals included a private high net worth family from Dover Heights paying $5 million for a block of seven units in Rose Bay, and a North Bondi block of five units was picked up by a Hong Kong-based family for $5.75 million.
