Brendan Wong, 21 April 2016
LONG before he served as prime minister, John Howard was serving customers at his father’s petrol station at Dulwich Hill.
Now the iconic site at 271-275 Wardell Rd is up for sale along with the adjacent residence and shop facility at 269 Wardell Rd.
The two properties have a combined price guide of $3.8 million to $4.2 million.
The garage was owned and operated by Mr Howard’s father Lyall and his grandfather Walter in the 1930s to 1955.
As a teenager, Mr Howard and his older brothers Wal, Stan and Bob would work at the petrol station on weekends.
The property, which sits on the corner of Wardell Rd and Ewart St, currently operates as a workshop.
According to CoreLogic RP Data, the property last sold in December 2014 for $2.3 million.
Prior to that, it traded for $100,000 in 1985.
Director of Raine & Horne Commercial South Sydney/Marrickville Luke Smith said the properties had enormous capital growth potential and good holding income.
“The combined assets provide for a 455 square metre site and are producing a gross return of approximately $153,868 annually plus GST,” Mr Smith said.
“This auction represents a rare opportunity to purchase a site in Dulwich Hill, and the vendor, who is a private owner, is genuine about seeking a sale,” he added.
Mr Smith anticipates that the upcoming Federal election will attract strong attention.
“It’s not out of the question that a buyer or investor with an interest in owning a slice of Australian political history may line up on auction day.”
269 and 271-275 Wardell Rd, Dulwich Hill will be auctioned on Tuesday, May 24, at 50 Margaret St, Sydney.
Extracted in full from the Daily Telegraph.