87-89 Hunter Street, Newcastle NSW 2300

Auction Date: May 22, 2024

Auction Location: 10 Newcomen Street, Newcastle NSW 2300

For Sale by Auction 22 May 2024 at 11am via online portal Auction Live and in room

Irreplaceable mixed-use investment opportunity in the East End of Newcastle. The property generates a significant net passing income of $129,514* per annum which is split between three tenancies.

On the ground floor is Humbug, a recently awarded hatted restaurant in the SMH good food guide 2024. One of only two restaurants in Newcastle with such an award, the five other restaurants with “hats” being in the coveted Hunter Valley wine and food region. Humbug has recently extended their lease until 30 September 2029.

On the floors above are two large 4-bedroom, 2-bathroom, split level atrium style apartments. Both with separate access, the apartments are leased until October & December 2024 respectively.

This fantastic opportunity presents the incoming purchaser the ability to have multiple income streams as well as having the flexibility to live in an inner city pad or capitalise on holiday accommodation income given the proximity to the beach and harbour.

Key Features:
- Passing net income of $129,514* per annum plus GST
- Two large 4 bed, 2 bath apartments
- 'Humbug' hatted restaurant on the ground floor
- Diversified mixed-use investment
- Iconic East End location

*Approximately