A verifiably cool warehouse conversion in Surry Hills just hit the market with $3.5+ expectations. The property sits on a 240sqm block of land and features an open and airy warehouse fronting 11-13 Phelps Street coupled with a renovated terrace (or former electrical substation?) with frontage at 54 Arthur Street (that now also hosts a unique garage) to form a mini-compound that would make Dennis Hopper a happy man in heaven. From what the Radical Terrace can infer, the owners acquired the commercial warehouse to the Stamp Factory and Gallery in April 1991 for $270k. Whether or not this purchase was inclusive of the terrace/substation at 54 Arthur St is beyond us. What we do know from the agent’s description is that architects Mark Hurcum (now of Mark Hurcum Design Practice) and Nick Turner (now of Turner Studio) led the renovation efforts back in 1991 when they were but young bucks who had not yet made their architectural mark. It’s a revealing conversion for the architects, as its maintained its relevancy and high design these last two decades and still shows itself off as contemporary high design.
Warehouse conversions almost uniformly command Surry Hills’ priciest pads, due in part to their size. And within the Surry Hills market, the most desirable precinct is the quiet maze of streets between Crown and South Dowling Streets, a location which this featured property scores. A solid, albeit far larger, comp is the Radical Terrace-featured 5 Bennett Place conversion that scored $5.71m when it sold in February of this year. And will 11-13 Phelps Street score its $3.5m+ ambitions? The Radical Terrace thinks it highly likely. The flexible space, hyper-valuable car space, large and light-filled bedrooms with ensuites, plentiful outdoor space add value. But at the end of the day, it’s the live/work potential that brings this property to the forefront of the Surry Hills listings going into the summer season.
Richards Elliot agents Jerry Toller and Simon Hohnen have the listing: 11-13 Phelps Street, Surry Hills