Rare dual-tenanted investment on the fringe of Newcastle CBD
Maryville, NSW, October 2024 – A rare opportunity to secure a dual-tenanted commercial property with a strong income stream and high exposure is set for auction at 202-204 Hannell Street, Maryville. This fully leased investment, offering immediate returns and long-term growth potential, will be auctioned on Wednesday, 30th of October 2024, at 11:00 AM at the Commercial Collective’s head office.
Located on corner of Downie Street and Hannell Street and just minutes from Newcastle’s CBD, this high-profile property spans 635sqm* across two modern office spaces, each featuring premium fitouts, including boardrooms, private offices, and open-plan areas. Both spaces are leased to established tenants, providing investors with an annual net rental income of approximately $177,554.93 + GST.
The property’s tenants, boutique marketing agency One Fifty and Co and national recruitment firm Beilby Downing Teal, add significant value. With One Fifty and Co’s lease extending to 2025 and Beilby Downing Teal operating under a lease until March 2025, the property offers investors a stable and diversified income stream, with future rental growth potential as leases come up for renewal.
“Properties of this calibre and location is rare in the market, especially with such secure income and premium exposure,” said Benjamin Morello, Industrial Senior Executive at Commercial Collective. “The dual tenancy not only provides strong returns now but also presents significant upside as Newcastle’s fringe areas continue to experience growth and gentrification.”
Known for its eye-catching mural, this unique property features four undercover car parking spaces and benefits from highly sought-after E4 General Industrial zoning. Spanning 537sqm*, the site offers flexibility for future commercial uses and is situated in a thriving area undergoing growth and redevelopment. With convenient access to key transport routes, this property presents an ideal opportunity for both local and national investors.
“202-204 Hannell Street is positioned in a high-demand area where E4 General Industrial zoned properties are increasingly sought after,” said Jared Harris, Director of Commercial at Commercial Collective. “The combination of established tenants, quality fitouts, and future growth opportunities make this a unique offering that should not be missed.”
