R2-3534971-Newcastle-2023-05-17-093716 FOR SALE
R2-3534971-Newcastle-2023-05-17-093716-1
R2-3534971-Newcastle-2023-05-17-093716 FOR SALE
R2-3534971-Newcastle-2023-05-17-093716-1 FOR SALE

426 King & 591-615 Hunter Street, Newcastle NSW 2300

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Area
  • Building Area is 7,056 m²
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    Commercial Collective in conjunction with JLL are pleased to present to the market the City Exchange site, situated in the heart of Newcastle, with dual frontages to Newcastle's two most prominent streets, Hunter Street and King Street.

    The asset presents a super-rare, consolidated land parcel of 6,483sqm* comprising five existing office buildings as well as an at-grade car park. The site which is centrally located
    in Newcastle CBD, between major retail amenity and the harbour foreshore, presents an existing value-add office investment opportunity with strong existing income and future development optionality afforded by the sites significant under-development relative to current planning controls.

    Based on surrounding uses, current planning controls and market demand, the site could accommodate multi-sector development, including office, medical, hotel or residential and associated retail uses.

    - Holding net passing income of $2,129,736* per annum
    - 1.96 year WALE by income
    - 6,483sqm* site area with dual frontages to two of Newcastle's most prominent streets
    - Flexible mixed use zoning with potential to develop up to 35,654sqm* of GFA
    - Comprising five stand-alone existing office buildings
    - Total 7,056sqm* NLA
    - Prime position connecting Honeysuckle precinct with Light Rail stop located within 70m*
    - 426 King Street: 2.5-star NABERS Energy rating
    - 615 Hunter Street: 5-star NABERS Energy rating

    *Approximately

    • Five stand-alone exisiting buildings
    • 1.96 year WALE by income
    • Holding net passing income $2,129,736 pa

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