Comprising two separate residences, this sprawling double block offers an idyllic setting within a tightly held cul-de-sac alongside Trumper Park. The adjoining properties are located within the established suburb of Paddington, just 4km east of Sydney CBD and in close proximity to the services, facilities and amenities of the Oxford Street retail precinct.
Designed by leading architects Zoltan Kovacs Architect, this development will convert the Sutherland Avenue warehouse into a unique three-bedroom, four-bathroom home with a secure double garage and alfresco terrace. The Harris Street dwelling will be adapted to a four-bedroom, four-bathroom terrace residence with a secure single car port with automated gate and veranda.
Both residences will reflect high-quality contemporary design and will likely incorporate polished timber, natural stone benchtops, premium wool carpets and high-end appliances. Each residence will also feature a video security intercom, alarm systems, ducted reverse cycle air conditioning along with home automation and extensive custom joinery.
This syndicate loan has been established to assist with the refinance of an existing loan from another lender and to finance the renovation and refurbishment of existing residences located at 14 Sutherland Avenue and 49 Harris Street, Paddington. The loan to value ratio of 65.70% has been calculated using the valuation completed by Pontons Valuations dated 9 October 2019 of $11,400,000 free of GST. A loan term of 18 months is required in order for the borrower to engage a contract builder and finalise construction documentation.
Estimated development progress as at 12 November 2020