Colliers Newcastle's Peter Macadam and Michael Chapman expect position on a prominent corner site and repositioning potential to provide the appeal for an inner-city building they are selling through an expressions of interest campaign.
The property at 134 King Street is a freehold asset and comprises office accommodation over four levels with an enclosed rooftop function area and alfresco terrace.
It comprises around 1884.7 square metres of lettable area and 19 basement car spaces.
"We are anticipating interest around $7.5 million, which is certainly supported by recent sales transactions in the CBD," Mr Macadam said.
"There are a number of opportunities given the zoning and height controls, permitting a number of alternate uses or a refurbishment to provide excellent affordable commercial spaces with parking in the heart of the East End."
Mr Chapman reported "a strong response" in the first week of marketing. Expressions of interest close on August 26.
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