The former site of Charlestown's Commonwealth Bank must sell before Christmas.
The building at 216/218 Pacific Highway had housed a bank since 1950 until earlier this year when Commonwealth Bank relocated to a smaller shopfront in Charlestown Square.
Movable's Steven Dick said the move had resulted in mounting costs for the building's Sydney owners, who originally bought the site from Lake Macquarie City Council.
Mr Dick said the bank area had been left in a "dishevelled mess" and was in need of renovation.
The 1279 square metre property, which has one of its three tenancy sites occupied, could suit retail or medical specialists.
It is being advertised as an 'urgent distressed sale'.
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"To me it would suit the medical specialists in Charlestown because it's so close to the bus stop," Mr Dick said.
"All the medical professionals have put themselves in the back street behind the library and people without transport have got to walk all the way over from where the bus drops them ... some of them have to catch cabs over there."
The building is being sold by Openn Negotiation, meaning it can sell any time before its final bidding stage on December 7.
Bidding sat at $1,125,000 at time of print, and is expected to reach somewhere in the mid $2 millions.
"The site there can also go up 10 stories at the back, so it is a potential development site as well in the future," Mr Dick said.
"A bit can happen with it."
Mr Dick is also selling a small office space at 8/26 Oakdale Road, Gateshead that is expected to fetch a price in the vicinity of $200,000.
Meanwhile, the Metal Shop Technics business in Kurri Kurri has sold off-market for $8.2 million with Commercial Collective.
The business, located on a 4.05 hectare block at 19 Johnson Avenue, was bought by Rigby Jones, a subsidiary of Southern Steel Group.
The family owned and operated business was established in 1956.
Commercial Collective also completed the $3.81 million sale of an entire apartment block in Merewether.
Eleven registered bidders fought it out for the eight-apartment block at 46 Selwyn Street following a campaign that yielded 142 enquiries.
The property, which is believed to have been owned by a local family, had been expected to fetch a price in the mid $3 millions.
In Boolaroo, a $1.25 million price guide has been set for a retail strip at 63-71 Main Road.
Comprising six fully-leased tenancies across two buildings, the property brings in an annual net income of $69,000.
It will go to auction with Colliers on December 9.
