450 Parramatta Road, Petersham, NSW 2049

IB Property is pleased to present 450 Parramatta Road, Petersham — a rare corner freehold offering outstanding development potential and previous use rights as the renowned Clarence Hotel.

Set on a 487sqm* landholding and fully renovated throughout, the property boasts a total net saleable area of 721sqm*, Zoned E1 Local Centre with an FSR of 1.5:1 and a height limit of 14 metres, the site is primed for a variety of future uses including residential, co-living, student accommodation, commercial, or hotel (STCA).

Importantly, the property sits within a precinct flagged under Inner West Council’s broader push for increased housing density, supported by recent Transit-Oriented Development (TOD) planning proposals. The corner of Crystal Street and Parramatta Road — where this property sits — has been specifically referenced in media reports as a potential focus area for future uplift.

450 Parramatta Road presents an exceptional opportunity for developers, investors, or owner-occupiers to secure a versatile, high-profile asset with significant future upside in one of Sydney’s most vibrant inner-west locations.

Key Selling Highlights: 
- Valuable development upside, renovated.
- Building area: Basement 98sqm, Ground floor: 435sqm, level 1: 188sqm = TOTAL 721sqm
- Net saleable area 721sqm*
- Land area 487sqm*
- Favourable zoning – E1 Local Centre, FSR 1.5:1, Height 14m
- Convenient location – I.e close to retail strip/village, train stations, bus services to CBD, restaurants, cafes, amenities and any other major infrastructure 

For sale via public auction on Tuesday 24th June 2025 at 10.30am at AuctionWorks - Mezzanine Level, 50 Margaret Street. 

For more information, please contact the exclusive selling agents.