1405/174-186 Goulburn Street, Surry Hills NSW 2010

Sub-penthouse townhouse layout | 113m² above-average size | 400m to Hyde Park & rail | Strong rental growth trajectory This property presents a competitively rare configuration for Surry Hills, combining a townhouse-style, multi-level sub-penthouse layout with an internal area exceeding the typical apartment footprint. Its high-floor positioning and direct proximity to Hyde Park and major transport nodes cement its appeal to owner-occupiers seeking inner-city space and lifestyle, and to investors targeting a professional tenant demographic demonstrated by consistent rental appreciation. The unit’s above-average size and vertical separation of living areas create a scarcity value that standard flats in the precinct cannot match, serving buyers who prioritise spatial quality and architectural interest within a high-density suburb. The primary decision mechanism is balancing this spatial premium against the identified flood overlay risk, which imposes potential insurance costs and necessitates specific due diligence. The absence of recent, direct comparable sales for a sub-penthouse of this scale complicates price validation, placing greater emphasis on the rental demand signals, which show a clear upward trend. Given the strong location fundamentals and unique configuration, a strategic hold is justified; an investor should capitalise on the high-yield trajectory, while an owner-occupier secures a long-term positional advantage in a tightly held building typology. Proceed with a bid anchored to the upper quartile of standard apartment values in the area, attributing a measurable premium for the layout and size. Recent sales context for Surry Hills two-bedroom units is general, but the subject property’s last transaction provides a benchmark: it sold for approximately $1.1 million six years ago. The subsequent rental growth from $950 per week in 2022 to current estimates exceeding $1,200 per week underscores significant income appreciation, supporting a valuation well above its last sale price and aligning with the current guide.