248 Railway Pde 2,895 SF Retail Building Kogarah, NSW 2217 $4,161,275 ($1,437.16/SF)

248 Railway Parade presents a DA-approved development opportunity in the heart of Kogarah, offering a six-level new age boarding house with 42 fully self-contained rooms, each featuring a balcony. The approved plans include an 80 sqm ground-floor retail space and three levels of basement parking accommodating 24 cars, along with motorbike and bicycle spaces. The property occupies a prominent corner position at Blake Street and Railway Parade, ensuring strong visibility and accessibility.
Located just meters from St. George Hospital and within walking distance to both Kogarah and Carlton train stations, the site is ideally positioned to meet the growing demand for affordable, well-located accommodation for hospital staff, students, and interns. The property is also only 15 km from Sydney CBD and benefits from proximity to major arterial roads, retail amenities, and public transport.
Currently generating $46,800 per annum from a car mechanic workshop tenant, the site offers holding income while development plans progress. The DA approval remains valid until August 13, 2025, with the vendor advancing the Construction Certificate to ensure compliance. This is a rare opportunity to secure a fully approved project in a high-demand healthcare and education precinct.