Image: 32-34 Blenheim St Randwick- artist impression
A prominent hotel development site in the heart of Randwick is set to hit the market, offering a rare opportunity to capitalise on a DA-approved project in one of Sydney’s most tightly held Eastern Suburbs pockets.
The 980 sqm* parcel at 32-34 Blenheim Street has received development approval for a seven-storey project comprising 40 self-contained apartments, ground-floor retail, and basement parking. With a gross floor area (GFA) of 2,898 sqm* and a flexible R3 Medium Density Residential zoning, the site presents strong potential for a variety of end uses, including co-living, build-to-rent (BTR) or student accommodation.
Strategically positioned on a high-profile corner with triple street frontage to Blenheim Street, High Street and Clara Street, the property sits directly opposite key amenities and infrastructure including the Prince of Wales and Sydney Children’s Hospitals. It is also just moments from the UNSW biomedical precinct and Randwick Junction light rail station, enhancing its appeal for investors and developers looking to tap into Sydney’s education and health sectors.
The existing improvements include a freestanding medical office and a block of six apartments, offering interim income or the potential for adaptive re-use.
Miron Solomons and Matt Pontey of Cushman & Wakefield are managing the sale campaign on behalf of a private investor and expect interest from a wide range of buyer groups.
According to Mr Solomons,
“This is a unique opportunity for developers, institutional investors and operators to secure a prime site in a location underpinned by over $1.5 billion in surrounding infrastructure investment. We anticipate strong demand from groups looking to deliver alternative residential models that meet emerging needs in the area.”
Mr Pontey added,
“The site benefits from exceptional lifestyle, transport and shopping amenity on its doorstep, including immediate proximity to the Prince of Wales Hospital, Sydney Children’s Hospital, UNSW, and the Randwick light rail. These elements make it one of the most compelling offerings we’ve seen in the Eastern Suburbs in recent times.”
32-34 Blenheim Street, Randwick is for sale via Expressions of Interest closing Wednesday, 28 May at 2pm (AEST).
*Approx.
