255-257 High Street, Maitland NSW 2320

Auction Date: September 4, 2024

Fully leased commercial/residential premises with development upside

Auction Location: 10 Newcomen Street, Newcastle 2300

The premises consists of a ground floor commercial space currently leased by automotive mechanics, Euro Precision Automotive. Upstairs consists of a five bedroom residential apartment also fully leased. Combined the property produces a combined net income of $112,186.78* per annum plus GST.

Euro Precision Automotive offers financial stability with a new three year lease in place with a further three year period, whilst the residents upstairs are on flexible twelve month leases. The site also contains development uplift with a vacant unused building also on the title, allowing for further repurposing or re-development enhancing the properties value.

Key features:
- New three (3) year lease with options to renew to Euro Precision Automotive
- Upstairs five (5) bedroom apartment fully leased
- Steady income from dual tenants
- Potential development uplift
- High exposure on High Street, Maitland
- Total site area 1,442sqm*
- MU1 Mixed Use zoning

*Approximately