32 x 1 Bedroom Units + Detached House
Strong Gross Income of $380,804pa*
5,615sq m* Site Area with Dev. Potential
The Savills Property Insolvency & Turnaround Services Team, in-conjunction with Street Property are pleased to present 60 Harriet Street, Waratah to the open market on behalf of the Receivers & Managers appointed, KordaMentha. The property will be offered for sale via an Expressions of Interest campaign, closing on Wednesday 21 October 2020 at 2pm.
Positioned in the growing Waratah precinct, this quality asset offers a versatile opportunity for investors, developers & owner occupiers. Boasting a large site area of 5,615sq m*, and with its favourable R3 Zoning, makes for one of the most desirable ‘value add’ acquisitions of 2020 for any astute purchaser
The property comprises two (2) separate buildings.
- Main building: 32 x one (1) bedroom self contained units
- Detached house: eight (8) bedroom house with common bathroom, dining & kitchen
- Hardstand car parking
- Strong gross passing income of $380,803pa*
- Zoning allowing for multiple development opportunities (STCA)
- Premier schools and education facilities in close proximity
- Going concern (no GST applicable)
There are limited competing development sites within the Newcastle pocket – Savills & Street Property invite all investors and developers to reach out to our team for further information on this highly desirable opportunity.
*Approx.
Significant land holding of over two acres of level land in Whitebridge adjacent to residential homes with three street frontages, Zoned B1 Neighbourhood Centre.
Close to Charlestown Square and local housing estates.
The property is located on Bulls Garden Road leading out of Whitebridge and entering Gateshead, being conveniently positioned close to Charlestown Square Shopping Centre and Bennetts Green where major retailers such as Harvey Norman, the new Bunnings Warehouse and another 42 bulky goods retailers are located.
The property is also close to the heart of Whitebridge and approx 20 minutes to Newcastle CBD.
It is perfectly positioned close to the Pacific Highway Gateshead and nearby Newcastle bypass allowing easy access by car and Government transport to routes such as the Pacific Highway, M1 Motorway and easy access to Sydney.
Expressions of Interest close 6th October 2020 at 2:00pm.
Contact Patrick Mitchell for the information memorandum.
DISCLAIMER
We have obtained all information provided here from sources we believe to be reliable; however, we cannot guarantee its accuracy. Prospective purchasers are advised to carry out their own investigations and satisfy themselves of all aspects of such information including without limitation, any income, rentals, dimensions, areas, zoning and permits.
This fantastic opportunity allows for a mixture of Commercial, Retail and Residential use allowing abundance of growth opportunities to develop the site to your specifications.
A north facing block benefits from favourable planning endorsement being situated in the B4 Mixed Use zone of the city and having flexible height and FSR allowances.
Located within a busy residential hub and within walking distance to shops, cafes, university and the harbourside restaurant precinct at Honeysuckle, Hamilton’s cosmopolitan Beaumont Street is also a short stroll away.
- ZONED B4 Mixed Use
- 248 sqm
- Maximum height 24 sqm
- Maximum FSR 4:1
Expressions of interest close Thursday 9th of July @ 2pm