A LARGE development site in the Newcastle CBD has hit the international market.
The addresses on King and Hunter streets, known as the 'City Exchange', could be transformed into office spaces, built-to-rent properties, medical facilities, hotels, units, and retail establishments.
Firms JLL and Commercial Collective have been appointed to sell the site, made up of 426 King Street and 591-615 Hunter Street, through an international expression of interest campaign.
"The consolidation of the five sites by the current owner presents a scarce offering of scale," JLL's Mitch Noonan said.
"In fact, this offering marks only the third time in the past decade that a CBD site of this scale with redevelopment potential has become available on the market."
The consolidated site in the "centre of Newcastle" includes the former Hunter Water building, which was refurbished and sub-divided into a Community Title Scheme in 2010 by the McCloy Group.
Current owners Eagle Property Group saw a vision for reconsolidating the scheme and creating a site for future re-development.
The City Exchange spans five individual buildings, including the former Hunter Water site, adding up to 7000 square metres.
"The City Exchange site is poised to become a vibrant precinct and contribute to the city's continued development," Commercial Collective's Matt Kearney said.
International expressions of interest for the City Exchange site close at 3pm on July 20.
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