Savills Australia has been appointed to market 44-50 Australia Street, a landmark building situated within Sydney's city fringe suburb of Camperdown, formerly known as the iconic Dairy Bell Ice Cream factory, with price expectations over $5.5 million.

The existing factory is situated on an 892sq m parcel of land extending across four titles.

The two storey brick and concrete industrial building is being offered to the market with vacant possession, possessing an existing internal floor area of approximately 1,262sq m, benefitting from a north-eastern rear frontage to Gibbens Lane and a south-western frontage to Australia Street.

Marketing agents Stuart Cox and Neil Cooke of Savills Residential Site Sales said that this is a rare chance to purchase an exceptionally well located building with residential development or conversion potential (STCA) situated within such close proximity to local Universities and the Sydney CBD.

"Having been the home of Dairy Bell for more than 40 years, this is a truly iconic art deco warehouse with great potential. We have received numerous enquiries from commercial/industrial owner occupiers, boarding house operators but mostly residential developers looking to convert the warehouse into boutique apartments or terraces" said Mr Cooke.

Camperdown is a highly regarded, and well established, city fringe suburb of Sydney. Situated just 4 kilometres west of the Sydney CBD, it benefits from close proximity to all major amenities, Royal Prince Alfred Hospital, Sydney's universities, public transport, major retail centres and local cafes.

The property is situated on the very prestigious Australia Street with panoramic views back towards the Sydney CBD achieved from the upper level.

The property is being offered for sale via auction, scheduled for Tuesday 11 August, 2015.

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