5/30 Nobbs Street, Surry Hills NSW 2010

Heritage overlay limits future renovation | flood zone adds insurance cost | strata density weakens control | 69sqm unit competes with larger one-bedders This unit carries two structural cost burdens. The heritage overlay restricts any significant changes which caps value uplift from renovations and the flood overlay raises insurance premiums and may narrow your buyer pool at resale. On the positive side the 69 square metres is generous for a one-bedroom in Surry Hills and the NBN Fibre to the Building supports remote workers. This is a hold-for-cash-flow play not a flip the rental yield at around 3.8 percent before costs is reasonable but capital growth will rely on the broader market not this unit’s specific attributes. What makes this property competitive is the functional size many one-bedders in this area are below 55 square metres so 69 metres with a car space gives genuine liveability for a professional couple or single tenant who works from home. The building has a 66 percent auction clearance rate which suggests decent buyer confidence and the 40 percent owner-occupier ratio helps keep common areas in better shape than high-renter blocks. The school catchment for both Sydney Boys High and Bourke Street Public adds family buyer appeal at resale. This suits an investor seeking stable weekly cash flow of around $740 in a premium postcode not a buyer hunting double-digit annual growth. To move forward you should focus on strata records for upcoming special levies and a flood risk report from your insurer before offering