Warehouse conversion secured for executive young buyer

INNER CITY / EAST | BUDGET $2M

1 July

Written By Billy Gleeson – Founder & Director

▉ REGION: INNER CITY & EAST
▉ CLIENT: EXECUTIVE YOUNG PROFESSIONAL
▉ BUDGET: $2M

Securing a high-end warehouse conversion in Darlinghurst for executive young professional.

Background

Our client was seeking a premium warehouse conversion in an inner-city location, with a strong preference for character, volume, and architectural integrity. Their brief focused on securing a unique, low-density property that offered a genuine warehouse feel rather than a standard apartment layout.
Darlinghurst was identified early as a key target suburb due to its lifestyle appeal, walkability, and limited supply of true warehouse-style residences.

Strategy

We concentrated our search on tightly held warehouse conversions with strong owner-occupier appeal, prioritising properties with high ceilings, natural light, and authentic industrial features. Given the scarcity of this asset type, our strategy was to move decisively when a suitable opportunity emerged, while remaining disciplined on value.

For 3/1 Printers Lane, we undertook a detailed assessment of comparable warehouse sales, building quality, and long-term desirability. This allowed us to establish a realistic value range and position our client strongly during negotiations.

Challenges

Premium warehouse conversions in Darlinghurst are rare, and buyer demand for high-quality stock is consistently strong. Many comparable properties transact quietly or off-market, making transparent pricing difficult. The challenge was to secure a standout property without being drawn into emotional bidding or paying a scarcity premium beyond fair market value.

Outcome

Through a controlled negotiation process and clear alignment with the selling agent, we secured the property for circa $2 million. The purchase reflected strong underlying value for a premium warehouse conversion in a tightly held Darlinghurst pocket.

Our client secured a distinctive inner-city home with enduring appeal, confidence in the acquisition price, and the reassurance that the property met both lifestyle and long-term quality benchmarks.

Inner East

Billy Gleeson – Founder & Director

A Lower North Shore resident of over 20 years, Billy Gleeson is considered one of the North Shore’s pre-eminent and most respected buyers agents, bringing a passion and energy for real estate to Webb & Gleeson Buyers Agency.

With more than 5 years experience in the North Shore real estate market, Billy has facilitated the purchase of some of the region’s most prestigious homes, including a $20m estate in the Lower North Shore and $17.4m architectural residence in Mosman.