A local investor has paid $3.623 million at auction for a chunk of the Rathmines shopping centre.
A block of 11 shops at 2/6 Fishing Point Road, fully leased between nine tenants, went to auction with a guide in the early $3 millions.
The property, which sits close to waterfront on Lake Macquarie, brings in a combined $184,511 per annum.
"Investors were drawn to the fully leased nature of the asset coupled with the prominent lakeside location," Colliers Newcastle's Nick Christensen said.
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Meanwhile, a Taylors Beach site with an approved development application for 35 industrial units is expected to attract interest from local and Sydney developers.
The 1.1 hectare, B5-zoned property at 15 Kara Crescent is being marketed by Knight Frank Newcastle's Dan Barry with a guide of around $3 million.
"I believe Taylors Beach has strong demand for smaller factory units suited to storage and small businesses," Mr Barry said.
Expressions of interest close November 4.