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100 Parry Street & 62 Union Street, Newcastle West, NSW 2302

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100 Parry Street & 62 Union Street, Newcastle West, NSW 2302

100 Parry Street & 62 Union Street, Newcastle West, NSW 2302

Properties / Sold / New South Wales / Newcastle West
Development Potential

1. Property Summary

Property Type
Commercial, Residential, Mixed Use
Sub Type
Land Site
Land Area
2,564 m² (*approx)
Zoning
R4 High Density Residential
Selling Method
EOI: Contact Agent
EOI Closing Date
26 Jun 2024 04:00PM
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2. Property Highlights

Prime CBD corner site with secure holding income
  • 2,564m²* site area
  • 7,692m²* potential GFA (STCA)
  • Zoned R4 High Density Residential

Comprising an expansive 2,564 square metre* site across two allotments, the opportunity offers a unique corner site in a prominent CBD fringe location. The properties benefit from substantial redevelopment opportunities, given the corner location, 24 metre maximum height limit and floor space ratio of 3.0:1.

The improvements offer a total lettable area of over 1,750 square metres* across three buildings, currently occupied by Petbarn until May 2027, and Lawrence Hanson until January 2025. The existing leases offer substantial holding income of $267,500* net per annum (plus GST), whilst the buildings also offer re-positioning or value-add prospects (STCA).

The site enjoys an array of surrounding amenity including Aldi, Marketown, Heal Urgent Care, Honeysuckle and is only a short stroll to Darby Street and a range of pubs and restaurants. Additionally, given the corner position once fully developed, the site will offer a unique perspective of Newcastle with park views spanning to Merewether.

For Sale by Expressions of Interest closing Wednesday 26 June 2024 at 4pm (AEST).

Ground Floor, 18 Honeysuckle Drive, Newcastle

*Approximate.

Remember to mention you found this property on DevelopmentReady

Read More

1. Property Summary

Property Type
Commercial, Residential, Mixed Use
Sub-type
Land Site
Land Area
2,564 m² (*approx)
R4 High Density Residential
Selling method
EOI: Contact Agent
EOI Closing Date
26 Jun 2024 04:00PM

2. Property Highlights

Prime CBD corner site with secure holding income
  • 2,564m²* site area
  • 7,692m²* potential GFA (STCA)
  • Zoned R4 High Density Residential

Comprising an expansive 2,564 square metre* site across two allotments, the opportunity offers a unique corner site in a prominent CBD fringe location. The properties benefit from substantial redevelopment opportunities, given the corner location, 24 metre maximum height limit and floor space ratio of 3.0:1.

The improvements offer a total lettable area of over 1,750 square metres* across three buildings, currently occupied by Petbarn until May 2027, and Lawrence Hanson until January 2025. The existing leases offer substantial holding income of $267,500* net per annum (plus GST), whilst the buildings also offer re-positioning or value-add prospects (STCA).

The site enjoys an array of surrounding amenity including Aldi, Marketown, Heal Urgent Care, Honeysuckle and is only a short stroll to Darby Street and a range of pubs and restaurants. Additionally, given the corner position once fully developed, the site will offer a unique perspective of Newcastle with park views spanning to Merewether.

For Sale by Expressions of Interest closing Wednesday 26 June 2024 at 4pm (AEST).

Ground Floor, 18 Honeysuckle Drive, Newcastle

*Approximate.

Remember to mention you found this property on DevelopmentReady

Read More
Development Potential

3. Property Location

100 Parry Street & 62 Union Street, Newcastle West, NSW 2302

Property Map

4. Due Diligence

Site Report Available

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Report Contains

Site Report Available

  • Site Summary
  • Development Pipeline
  • Recent Transactions
  • Surrounding Amenity
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100 Parry Street & 62 Union Street, Newcastle West, NSW 2302 Newcastle West