228 Union Street, Merewether NSW 2291

Offers over $2,950,000

Building Area 650 m²

Site Area 695 m²

Anchor tenant Lingard

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Fully-leased multi-tenanted asset with diversified healthcare and retail income

Positioned within one of Newcastle's most established coastal suburbs, this commercial property offers a fully-tenanted holding for investors, with the building configured into four leased commercial suites, together with additional storage and site office space. All four principal tenancies are secured on leases, spanning two established allied health and healthcare operators alongside two newly-signed tenants, reinforcing the property's suitability for healthcare, service-based and light commercial users.

The property currently returns $149,303 net plus GST per annum, with further income potential from the remaining vacant storage and mezzanine space. 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, with the recent leasing activity demonstrating strong underlying demand across a range of occupier types.

Highlights

- Fully leased across all four principal suites - Aviano Remedial Massage, Healthe Care Lingard (Units 2& 3 ), and Ben The Bike Tech (Unit 4)
- Current net income of $149,303 plus GST per annum from signed leases
- Additional upside from the remaining vacant storage/mezzanine space (Unit 5, 265sqm*), estimated at a further $13,250 p.a.
- Diversified tenant base spanning healthcare, allied health and retail/service occupiers, reducing reliance on any single sector
- Weighted average lease expiry profile extending to 2029, supporting income security
621sqm* of leased commercial accommodation, plus additional storage and site office space
- Functional layout suited to office, allied health, retail and service-based users
- Close to retail, medical and residential amenity
- Flexible E3 Productivity Support zoning
- Shared on-site parking

For Sale by Private Treaty

Significant holding in Merewether
On-site shared parking

Sarah Willcox

Isaac Reville

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