Brent Sinclair, director at Knight Frank, said a property on Hunter Street presented "a prime development opportunity in the heart of Newcastle's CBD".
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Knight Frank are marketing 451-459 Hunter Street through expressions of interest, closing October 28.
The property comprises a two-level building with a mix of retail, restaurant and commercial tenancies providing holding income.
It has a site area of approximately 1072 square metres and a B4 mixed-use zoning.
"The property offers potential for high-rise development or value-add through refurbishment," Mr Sinclair said.
BLACK CANVAS
Knight Frank's Nick Lane is marketing brand new commercial space at 470 King Street in Newcastle.
Suite 102 is a level one space located conveniently to Marketown Shopping Centre.
The property has around 343 square metres of internal space with six secure car spaces, lift access, amenities and plenty of natural light.
It is set for auction on October 27 with a buyer enquiry range circa $1.5 million to $1.6 million.
Mr Lane said it presented a versatile blank canvas to suit a range of commercial office users or medical occupiers.
GROWTH AREA
Steven Dick, of Raine & Horne Commercial, is expecting good interest for a property in what he describes as the "next little boom suburb".
He is selling 60 Carrington Street in West Wallsend by way of an Openn Negotiation online auction with bidding expected around the mid-$900,000 range.
The property has a new five-year lease in place to the West Wallsend Medical Centre and is returning $60,000 net per annum and Mr Dick said it was a strong investment in a strong growth area.
"Not only will it form an excellent addition to an investment portfolio, but it has an afterlife as well," he said.
"It's set on 2205 square metres of B1 Neighbourhood centre land and over three titles, so it's a development site as well."
He said West Wallsend benefited from close proximity to the M1 Motorway and Hunter Expressway.