292 Lyons RoadRussell Lea NSW 2046
Property Details for 292 Lyons Rd, Russell Lea
Last Listing description (February 2026)
Invest in growth capacity and development potential in a high profile main road location in this established Inner West residential precinct. This row of three traditional two-storey commercial terraces with upper level apartments are set on an 847sqm site with side driveway to rear parking for at least 16 vehicles. In a local retail strip on the major arterial road between Drummoyne and Five Dock town centres, the property is Zoned E1 Local Centre under the Canada Bay LEP 2013 with no heritage or conservation restrictions. Currently only utilising under 60 per cent of the possible FSR, the property returns solid yields with scope for rental increases to market, space to expand the current lettable area (STCA), redevelop or land bank for a larger development site. Think outside the square to maximise the best & highest use of this substantial site in a key Inner West location with easy access to the M4, West Connex, M8 and 9km to the City.
Key Highlights
+ Approx 847sqm site Zoned E1 Local Centre under Canada Bay LEP 2013
+ 3 adjoining two-storey traditional brick commercial & residential terraces
+ 23 m approx. frontage to Lyons Road, shared driveway to rear parking & storage
+ 290 & 292 adjoining commercial premises with total floor area of 192sqm
+ Leased to established veterinary clinic to 2027, reviews to CPI, 3 year option
+ Current set up as offices with kitchen & 4 WCs. Easy reversion to 2 properties
+ Shop 294 with 82sqm internal area, operating as a food service premises
+ 2 upper level 2-bedroom apartments plus 1-bedroom unit with car spaces
+ Residential units leased until 2026 returning approx. $88,000 per annum
+ Potential gross annual income for all properties well in excess of $300,000
+ Local retail strip with popular food shops, takeaways & professional services
+ Established residential area close to waterfront Bay Run, schools & City bus
+ 1.5km to Five Dock town centre, health & beauty, food shops, cafes & dining
Property History for 292 Lyons Rd, Russell Lea, NSW 2046
- 11 Feb 2026Listed for Sale Contact John Lagounaris
- 18 May 2022Sold
- 25 Oct 2016Listed for Rent $450 / week
Recent sales nearby
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0About Russell Lea 2046
The size of Russell Lea is approximately 1.0 square kilometres. There are 6 parks, covering nearly 1.0% of the total area. The population of Russell Lea in 2016 was 5001 people. By 2021 the population was 4920 showing a population decline of 1.6% in the area during that time. The predominant age group in Russell Lea is 40-49 years. Households in Russell Lea are primarily couples with children and are likely to be repaying over $4000 per month on mortgage repayments. In general, people in Russell Lea work in a professional occupation.In 2021, 72.60% of the homes in Russell Lea were owner-occupied compared with 72.20% in 2016.
Russell Lea has 2,186 properties. Over the last 5 years, Houses in Russell Lea have seen a 15.35% increase in median value, while Units have seen a 7.52% increase. As at 30 June 2026:
- The median value for Houses in Russell Lea is $3,042,489 while the median value for Units is $1,165,293.
- Houses have a median rent of $1,300 while Units have a median rent of $740.
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