An entire apartment complex in prized Merewether has been described as a rare opportunity to secure "a trophy asset in a trophy suburb" by Commercial Collective's Matt Kearney.
Mr Kearney and Isaac Reville have listed 46 Selwyn Street. They are believed to be guiding in the mid $3 millions range with an auction set down for October 27.
The property comprises eight units, being sold in one line. Six have two bedrooms and two are one-bedroom units, and all eight have off-street parking. The building is set on around 938 square metres of land with an R2 Residential zoning.
"It's a large block of land, being almost 1000 square metres in Merewether," Mr Kearney said.
"You're buying eight properties in one, which is always attractive. Whilst it's got good rental growth, it's always been a low vacancy and popular rented property.
"You've got the added benefit that there are several exit strategies you could use into the future - strata and sell the eight units, selling in one line again or completely redeveloping it."
Mr Kearney reported early enquiry had been predominantly from investors and developers, mostly local with some Sydney interest as well.
The property is believed to be owned by a local family.
East End position
A commercial property on the ground floor of the refurbished Colonial Mutual Life building in Newcastle's East End is expected to appeal to owner-occupiers.
Scott Walkom and Greg Handsaker, of Walkom Real Estate, are marketing the property at 2/108-112 Hunter Street with a guide of $850,000 to $900,000.
"It's a good strata suite in the CML building," Mr Walkom said.
"It's got multiple uses and will suit owner-occupiers ideally because of its price point. It could be good for a super fund purchase for someone in their own business.
"It's also a good area in the East End where food services are, there is office space, and it's a growth area because of the apartments going in around it."
The suite offers around 116 square metres of floor space and has a commanding corner location.
It is presently leased on a month-to-month basis with a gross income of $51,000 per annum plus GST, and there is the option of purchasing by negotiation the existing fit-out.
The CML building was completely refurbished into 28 apartments and two shopfronts in 2016.
For lease
Movable's Steve Dick is marketing for lease a large warehouse at 16 Heather Street, Heatherbrae that was previously used by Dulux 3D Paints. The building offers around 772 square metres of space and has second access off the Pacific Highway.
