Interest is expected north of $15 million for a substantial site with development potential in the heart of Newcastle.
Street Property's Andrew Walker is marketing 6-8 Auckland Street, 431-435 Hunter Street and 14 Auckland Street through expressions of interest.
Located in the Civic Precinct, opposite Newcastle University city campus, it comprises a total land area of 2976.1 square metres with three street frontages. It is fully tenanted to a mix of Federal Government tenants with net income of around $943,000 per annum.
Mr Walker said a maximum height potential of 45 metres and FSR of 5: 1 presented future opportunity to deliver a significant landmark development.
"It's adjacent to the university campus and it's got fantastic development potential," Mr Walker said. "It's got height, three-street frontage, and it's got some mass in the area, nearly 3000 square metres."
Interest had come from investors and developers.
"For someone wanting to buy it then plan what they're going to develop there, there's really strong passing income, nearly $1 million net," he said. "The tenants are not under risk because they're the NDIS and Veterans Affairs, which are the two principal tenants.
"Investors see there's potential in the site that's not just linked to revenues and, from the development entities, they see that there's an opportunity there to put their foot on a development site and land bank it given you've got tenants. There's a lot of comfort in the offering."
Knight Frank have a modern showroom and display yard in one of Lake Macquarie's most active business and automotive precincts for sale or lease.
The property is located at 46-48 Macquarie Road, Cardiff and Brent Sinclair, director at Knight Frank, described it as "a great opportunity to own your business premises in this popular business and automotive sales precinct".
Positioned within the Cardiff Business Centre, the property features a showroom and a workshop on a site over 2000 square metres, with an approximate 41 metre frontage to Macquarie Road.