Converted warehouse in Balmain has city views, CBD convenience

Balmain has a touch of the Hotel California about it: once people check in, they don’t seem to be able to leave.

“A high percentage of our sales are to people who already live in the area,” says Danny Cobden, who has been selling property in Balmain for 20 years. “They’re upscalers, they’re downsizers. Once you’ve been bitten by the Balmain bug, you simply don’t leave.”

The vendor of this well-located unit is a case in point. “I’m not leaving the village,” she says. “I’m just moving around the corner.”

“Balmain really is a little village,” says Cobden, “and its geographical boundaries, the fact that it’s a peninsula, make it a special sort of environment. The people who live here really care about the area and are happy here.”

A lot of Balmain residents are professionals who work in the CBD. “You are one set of traffic lights from the city,” says Cobden.

The suburb is also becoming a popular target for a new breed of empty nesters. They’re typically from the upper north shore or Hunters Hill, he says and, rather than opting for a tree- or sea-change, they’re keen to move closer to the action.

“They don’t need lots of land and a big home any more. They want the restaurants, the pubs, the whole [close-to-the-city] lifestyle,” Cobden says. “And they can buy a little property here in Balmain that is lock up and leave, and go travelling.”

The building in which this handsome unit is located harks back to Balmain’s blue collar/industrial past. It was once a timber mill. Now it’s a boutique block of executive-style units. Its industrial past, however, has not been overwritten completely. Some of its original features, including exposed timber beams and sections of steel, have been cleverly retained, to fine effect.

Unit 1 is laid out over three levels, including an appealing little loft, currently used as a study.

The second level – which houses the living/dining/kitchen area, two of the bedrooms, a generous bathroom and the balcony – is particularly alluring. Its proportions and styling are elegant, and its floor-to-ceiling glass doors and louvres look out across the CBD skyline. It’s a light, open and hospitable space with beautiful timber floorboards; a place to stop a while.

The double garage, which can be accessed internally, is notably large, with a high ceiling.

The owner says: “Nothing beats the village: bus at my door, pubs on every corner and great shops up the hill. And when that’s all too much I just stop, sit and look at the view.”

Room for improvement: The timber floorboards could do with a fresh coat of varnish.

1/26 Mullens Street, Balmain
$1.75 million +
3 bedrooms, 2 bathrooms, 2 parking spaces
Built 2002
Size 205 square metres
Strata levy $500 a quarter
Inspect Sat, 10.30am-11am; Wed, 6pm-6.30pm
Auction November 21
​Agent Cobden & Hayson, 0408 266 508

Need to know:
Last traded $1.16 million in 2006
Highest recorded apartment price in Balmain (past 12 months) $4,225,000 for C505/23 Colgate Avenue in July
Median price for units in Balmain $823,000

Recent sales:
1. $2,675,000 for 2/8 Gow Street in December
2. $1.6 million for 48-64 Waterview Street in May
3. $1.37 million for 106/3 Hyam Street in August
Source: Domain Group

Surrounding area:
Balmain has got it all going on: great boutiques, cafes and amenities, proximity to the CBD, green space, and attractive architecture, streetscapes and views. Locals prize its village vibe. It also has more than its fair share of charming pubs. Homes in the suburb are packed in tight, however, and property prices are far from modest.
Serviced by buses
Close to Balmain’s well-provisioned high street, St Andrews Church, which hosts the suburb’s Saturday market, and express bus routes to the CBD. The Balmain Rowing Club, Elkington Park and the Dawn Fraser Baths are 15 minutes away on foot.