SOLD - Newcastle - Strategic CBD Freehold - Renewed 5 Year Lease

Cushman & Wakefield is pleased to present to the market 1 Union Street, Newcastle for Sale via Auction.

The property has the following key characteristics:

• Renewed 5 year lease to 2026 + options to 2031
• Ray White - One of Australia’s most recognised residential real estate brands with a national network of over 1,000 locations across Australia
• Strategic Newcastle CBD freehold, corner 328 sqm landholding improved by a two level office building
• Long term occupancy with over 20+ years as a real estate agency in the same location
• Net lease - Tenant responsible for 100% of outgoings as per the lease including Land Tax
• Premium CBD location within close proximity to The University of Newcastle, Train Station, Light Rail, Marketown Shopping Centre & Newcastle Beach
• Newcastle - Australia’s 7th largest city, 160 km from Sydney with a population of 498,015 people
• Favourable development controls with 5:1 FSR, B4: Mixed Use Zoning & a 45 metre building height limit providing significant value add potential (STCA)
• Fixed 2.5% annual rent increases
• Net Income $164,054 pa + GST

The property is for sale by way of Cushman & Wakefield Investment Auction on Thursday 25 November at 11am AEDT. The Auction will be held at Doltone House Hyde Park, located on Level 3/181 Elizabeth Street, Sydney.

Prospective purchasers & interested parties will have access to remote bidding facilities in both Brisbane & Melbourne as well as via our Live Stream & Online Bidding Platform, strictly via prior arrangement.

Please contact the exclusively appointed Cushman & Wakefield property professionals for more information.Edit Property Description