228 Union Street, Merewether NSW 2291

Multi-tenanted commercial asset with leasing upside

Positioned within one of Newcastle's most established coastal suburbs, this commercial property offers a flexible opportunity for investors and owner-occupiers seeking adaptable accommodation with existing income. The building is configured into four separate commercial tenancies, together with additional storage and site office space, supporting diversified occupation and future flexibility. Two suites are currently leased to Aviano Remedial Massage and Healthe Care Lingard, providing holding income and reinforcing the property's suitability for healthcare and service-based users.

The property currently returns $85,407 net plus GST per annum from the existing tenancies, while the remaining vacant accommodation provides scope for additional leasing, owner-occupation or repositioning. E3 Productivity Support zoning supports a broad range of commercial uses, including business premises, office accommodation, retail-style services and certain light industrial activities, supporting long-term adaptability. The building provides practical, functional accommodation in its current form, while also offering scope to improve tenancy presentation over time.

Key Features
- Leased to Aviano Remedial Massage and Health Care Lingard.
- Current net income of $85,407 plus GST per annum
- Vacant accommodation providing future leasing upside.
- Potential for part owner-occupation with the retained rental income.
- Value-add opportunity through refurbishment and repositioning.
- Flexible commercial building in an established Merewether location.
- 365.7sqm* of commercial accommodation with additional storage and site office space.
- Functional layout suited to office, allied health and service-based users.
- Close to retails, medical and residential amenity.
- Flexible E3 Productivity support zoning.
- Shared on-site parking.