Colliers International's Mark Yazbeck said Harvey Norman's new retail, industrial and commercial development at Taylors Beach is set to provide a significant amount of investment into the Port Stephens region.
Construction is set to begin on the "major development" at 60 Port Stephens Drive, Taylors Beach.
Harvey Norman bought the 10.22-hectare site in February and have obtained Development Application approval to build a new 11,500 square metre Homemaker Centre, additional retail and commercial premises, together with an industrial subdivision.
The centre caters for bulky goods showrooms, medical, childcare, indoor recreation and other retail tenancies, ranging from 150 square metres to 2500 square metres, which are now available for lease.
"Three of the larger tenancies already have pre-commitments from national retailers," Mr Yazbeck said.
"There is an approval for a service station and fast food outlet, which are also available for lease, and we're currently dealing with national brands in relation to both."
At the rear of the site is a 19-lot business park, which is to be developed. Block sizes will range from 1500 square metres to 2848 square metres, which are available for purchase. They are being marketed in conjunction with Alex Haxton from PRD Port Stephens and Mr Yazbeck said they were already dealing with a number of interested parties in relation to developing the business park lots.
Space, exposure and position provide the key appeal for a vacant two-storey building in Hamilton set for auction next Thursday with a guide of $1.55 million to $1.7 million. Street Property's Damon Sellis reported good interest for 86 Lawson Street from owner-occupiers looking to get out of the city as well as investors.
The building features 410 square metres of space and on-site parking.