Location is expected to provide the appeal for new A grade office space being marketed off the plan for sale or for lease in Newcastle's East End.
Commercial Collective's Adam Leacy is marketing the project at 25 Bolton Street. It has been the home of Cutcher & Neale accountants, who are relocating to a new commercial building in Newcastle West.
The Bolton Street property has been bought by GWH and the Hunter-based property developers are transforming the building from C grade office space to A grade.
"They are repositioning it to A grade office space on the basis that they've identified a gap in the market at the moment, which is to be able to purchase office space because of low interest rates," Mr Leacy said.
"So, ultimately, they are going to refurbish the building and provide A grade office space. It's for sale or for lease and we can dictate the areas from around 100 square metres to as much as 1800 square metres.
"They will commence work on the building within the next three to four months with completion due in the second quarter next year. The appeal is also the East End location. It's close to the beach, it will have end-of-trip facilities and it's got it's own dedicated car park."
Charlestown cottage in medical precinct
Colliers International's Luke Rutledge expects location to also prove key for a Charlestown property that has a medical fit-out.
Mr Rutledge and Michael Chapman are marketing 54 Smith Street with a guide of $900,000 plus GST. It is set for auction on July 15. The property comprises a residentially zoned cottage located in Charlestown's medical precinct.
It has a medical fit-out featuring reception area, consultation rooms, amenities and a staff break-out area.
There are five secure on-site car parks and the property is located within walking distance of other medical-related businesses, GPT's Charlestown Square and the proposed 11-storey Charlestown Private Hospital.
"The appeal is for owner-occupiers, probably medical professionals," Mr Rutledge said.
"It's hard to get into that little patch there and when a little cottage pops up it seems to get snapped up pretty quickly, so it's a little bit unique in that regard."
Our journalists work hard to provide local, up-to-date news to the community. This is how you can continue to access our trusted content: