He and Byrne Tran are marketing the vacant land at 16 Merewether Street which is around 1364 square metres in size and believed to be owned by Ausgrid.

The vacant allotment comprises an irregular-shaped allotment with frontages to both Merewether Street and Mitchell Street. It also adjoins the Lingard Hospital expansion and is positioned amongst a tightly held and highly sought-after small collection of properties zoned for business.

It has a B5 Business Development zoning, which Mr Kearney says will allow for many uses, including child care, commercial premises, industrial retail, garden centres, light industry, specialised retail, veterinary hospitals and warehousing, subject to council approval.

"Vacant business-zoned land in Merewether is impossible to find," Mr Kearney said. "That's the biggest drawcard. It's a blank canvas to develop something and an incredibly rare opportunity."

The property is being sold through expressions of interest closing June 11 with expectations over $1.2 million.

Colliers International's Michael Chapman has reported the $835,000 plus GST sale of Lot 1, 239 King Street in Newcastle to an owner-occupier who had been leasing elsewhere. The property was on the ground floor of a boutique strata development and also had on-site parking for four vehicles.

Meanwhile, the old Wridgeways transport and storage warehouse situated at 3 Laverick Avenue and on the Tomago roundabout has been listed for sale by Steven Dick, of Raine & Horne Commercial. Set on 11,000 square metres of land with drive-around access, it has office space and a 2300 square metre transport facility. It is being sold for $2.9 million plus GST.