Redevelopment Opportunity Corner Location
Located on the corner of Hunter and Union Streets, Newcastle West. The building enjoys an excellent inner city location and will benefit from Newcastle Urban Revitalization Strategy, Newcastle University NewSpace, the New Newcastle Courthouse and improved access across the heavy rail line. Currently used as office space. But has huge redevelopment potential. There is the opportunity for four separate commercial tenancies.
Zoning : B3 Commercial Core
Potential uses (STCA)
Commercial Offices
Residential... [More]
Redevelopment Opportunity Corner Location
Located on the corner of Hunter and Union Streets, Newcastle West. The building enjoys an excellent inner city location and will benefit from Newcastle Urban Revitalization Strategy, Newcastle University NewSpace, the New Newcastle Courthouse and improved access across the heavy rail line. Currently used as office space. But has huge redevelopment potential. There is the opportunity for four separate commercial tenancies.
Zoning : B3 Commercial Core
Potential uses (STCA)
Commercial Offices
Residential Accommodation
Student Accommodation
Entertainment
Education facilities
Hotel or Motel
The property is two separate buildings. 535 & 537 Hunter Street & the second known as 2 Union Street, Newcastle both with excellent street frontage and exposure.
535-537 Hunter Street, is a two storey commercial brick building, partitioned into separate offices, larger meeting rooms with large reception. It is air conditioned with separate amenities facilities on the ground and first floor. Building area of 329 sqm (approx). Currently leased until October 2015 plus option, to Diabetes Australia.
The adjoining property to the South, is known as 2 Union Street, is a single storey brick building with approximately 120 sqm. It has its own separate amenities and is air conditioned. The building is partitioned into separate offices and reception area. The property is currently vacant.
Potential Net Income $47,000 pa approx. Currently 73% Leased,
Please note : the Awning requires immediate repairs.
Please contact us to obtain a detailed property report.
(We have obtained all information in this document from sources we believe to be reliable; however, we cannot guarantee its accuracy. Prospective purchasers are advised to carry out their own investigations.) [Less]
