Position amid retail super hubs and diversified income streams are expected to provide the appeal for substantial commercial listings in Charlestown and Kotara.
Colliers International are marketing 88 Park Avenue, Kotara and 160 Pacific Highway, Charlestown with auctions set down for both on March 25.
Agent Luke Rutledge said both properties had good exposure with a high volume of daily passing traffic.
The Kotara listing is located directly opposite Westfield Kotara and backing onto the Kotara Homemaker Centre. It has staggered lease profiles to well-known local and national businesses and includes 35 on-site car spaces.
It comprises a total net lettable area of around 1573.9 square metres and occupies a commanding site area of approximately 2412 square metres. The property has a net income of around $412,832 per annum.
"It's a 10-year-old development, so it's very modern," Mr Rutledge said. "There's a few tenants who have been there from inception, so it has some good long-term tenants.
"There's a couple of vacancies, so there's a bit of upside once you fill those gaps. But it provides good, secure cash flow and is underpinned by medical service-based [tenants] that perform strongly through disruptions such as COVID."
The Charlestown property has dual street frontage to the Pacific Highway and Pearson Street. It features a three-storey, Torrens Title commercial building that has undergone a full refurbishment.
It has 27 secure basement car spaces and two open air car parks. The property has a total net lettable area of around 1205 square metres and occupies a commanding site area of approximately 891.6 square metres. The property has a net income of around $342,694 per annum.
"It's a great location and will always rent well," Mr Rutledge said. "It has good cash flow underpinned by good lease covenants and interest has been a mix of local and from out of town."
Price guides have not been disclosed for either property.
Movable Newcastle's Jason Morris expects a property he is marketing in Charlestown to appeal to investors or owner-occupiers. He has listed 215 Pacific Highway (Lot 1) for $600,000 (sold as a going concern). The property has four car parks and good exposure and is returning $30,000 gross per annum.
"It is a fully fitted out and furnished cafe/restaurant with a tenant in it but would lend itself to other retail or office use," Mr Morris said.
Mr Morris is also marketing Lot 9, 710 Hunter Street in Newcastle West for $1.3 million. Castle Personnel are on a three-year lease until October and the property has a net income of $56,715 per annum.
It benefits from having five car parks and the building is modern. It is located close to Marketown Shopping Centre and within walking distance of the Newcastle Interchange.