Location and a freestanding 38-lot car park are expected to provide the appeal for a Newcastle building which has been the home of Cutcher & Neale for the past 40 years.
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Adam Leacy, of Commercial Collective, is marketing the "unique" property at 25 Bolton Street through expressions of interest, closing October 6. A price guide has not been disclosed.
The building has five levels and in its current form a seven-lot strata.
"The opportunity is two-fold; either an owner-occupier could take on the building in its existing form or a developer/owner-occupier might look at purchasing it and selling off the strata lots, for example," Mr Leacy said.
"It's biggest appeal is certainly its location and, secondly, the 38-lot freestanding car park at the back of building which was built within the last 10 years."
It has a net income or around $546,768 per annum. Cutcher & Neale have a lease in place until June next year. The accounting and financial services firm are reportedly building a new facility in Parry Street, Newcastle West.
Vacant land
Peter Dodds, of Colliers International, said the majority of interest has come from buyers looking to build a single dwelling on around 5.5 acres of land he is marketing through expressions of interest at 77 Dangerfield Drive in Elermore Vale. Expectations are over $500,000 for the property within Silver Stream Estate.
What's Selling
A Newcastle businessman is believed to have paid over $1 million for a 28.24-hectare piece of land in Fullerton Cove.
Darren Penn, of Ray White Newcastle Lake Macquarie, marketed at 118 Fullerton Cove Road through an expressions of interest and said 30 parties inspected the property with over 200 enquiries made and 10 submissions.
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