Colliers Newcastle has sold a gateway retail development site at Fullerton Cove.
Selling agent Luke Rutledge said the property benefitted from a Gateway Determination to rezone the site to enable the creation of a neighbourhood supermarket and develop much-needed amenities for the Port Stephens community.
Mr Rutledge said the property was marketed through a competitive expressions of interest campaign that attracted local, interstate and national interest.
The buyer was a development group from Sydney that purchased the site for $5.4 million.
"This transaction adds to the huge level of growth in Port Stephens off the back of major project announcements including the Williamtown Aerospace Centre and the upgrade to the Newcastle Airport," he said.
