Over the past decade, the inner East Suburbs of Redfern and Waterloo have transformed into vibrant urban villages attracting demand from both young professionals and families. Steeped in history, culture and artistic expression, recent gentrification has brought a thriving dining and small bar scene. Warehouse and factory buildings are reborn as loft apartments and designer residences and the urban landscape is reminiscent of New York’s Upper West Side with galleries and studio spaces defining the urban landscape.

Christian West has listed a three-bedroom residence in a boutique warehouse conversion at 6/246 Chalmers Street, Redfern on the edge of the village and just 250m to Prince Alfred Park. Christian says, “We’ve only held one Saturday open for this terrace-like warehouse conversion but we’re seeing strong demand with buyers drawn to its New York loft feel, functional layout and whisper-quiet setting to the rear of the block of six. With a buyer’s guide of $1.55m, it offers an appealing alternative to a traditional terrace with the bonus of direct access to double garaging.”

Also in Redfern Nicholas Charles has just listed a two-bedroom apartment with parking at 13/252 Abercrombie Street, Redfern, a level stroll to Sydney University and 300m to the station. Nicholas says, “The boutique apartment makes a great investment with a sunny north aspect, wide district views and access to a common rooftop terrace which would attract strong rental demand.”

Neighbouring Waterloo is also morphing into one of Sydney’s city fringe hotspots. Last week, Thomas Heath sold B619/810-822 Elizabeth Street, Waterloo prior to auction after seven days on the market. Thomas says, “The Garden House penthouse was snapped up after two open homes with 52 groups inspecting the very special apartment. The combination of first-class design, lush green outlooks from every room and proximity to Green Square and East Village were huge drawcards.” 

Anthony Puntigam has just listed an affordable one-bedroom apartment just a few blocks away at 302/5 Potter Street, Waterloo. Anthony says, “The 66sqm apartment offers an outstanding return given the buyer’s guide is $500k and it generates a weekly rent of $500. Its set to the quiet rear of Aria Apartments which is one of the most sought-after buildings in the Crown Square precinct.”

Right on the cusp of Waterloo close to The Cannery’s gourmet foodie hub and The Grounds of Alexandria, Alexander Phillips has just listed 122 Victoria Street, Beaconsfield. The renovated freestanding terrace features three bedrooms, a lock-up garage and self-contained studio ideal as an income generator.

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