Stunning Development Opportunity in the Growing West End
An opportunity not to be missed for the astute developer or investor, this address offers both native potential and a chance to build in the high growth precinct of Newcastle West. Already holding Development Approval for 15 residential apartments, this freehold mixed commercial and residential property presents a current income of $56,680 p.a. while an additional space currently owner occupied, would show a potential total of $77,316 p.a.
This address is conveniently located just 200 metres from the Newcastle Transport Interchange and within easy reach of Honeysuckle and the Newcastle Harbour as well as Marketown Shopping Centre, Newcastle TAFE and numerous quality restaurants and cafes. Showing promise for a range of commercial and residential tenants, this property is perfectly placed to take advantage of the evolving west-end.
Freehold mixed commercial and residential property details:
– Lots 1&2 DP 782087
– Site area 483m2
– Zoning B4 Mixed Use
– Floor Space Ratio 6:1
– Current income of $56,680 p.a. with commercial space currently owner occupied; potential total of $77,316 pa for the site
– Development Approved for 15 residential apartments determined 25th October 2019
Close proximity to:
– The Newcastle Transport Interchange
– Newcastle City Administration (Gateway Building)
– $200million redevelopment of The Store
– Honeysuckle precinct and Newcastle Harbour
– Newcastle TAFE and University Campus
– Marketown Shopping Centre
– Newcastle Cruising Yacht Club
– Easy access to Beaumont Street, Hamilton
– Just 3.2 kilometres to Newcastle Beach
***Health & Safety Measures are in Place for Open Homes & All Private Inspections
***All inspection attendees will have to answer a health and safety survey to qualify for the inspection of the property
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