Motel ‘last sizeable site’ in the east

An aerial view of the Novocastrian Motor Inn, which is for sale.THE Novocastrian Motor Inn in Parnell Place has hit the market, having been described by agents as the last significant development opportunity in Newcastle East.
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Adam Leacy and Chris Chapman, of Colliers International Newcastle, have listed the 47-room motel with three street frontages for expressions of interest, which close on September 4.

The 1106-square-metre property at 21 Parnell Place has been a motel for more than 30 years and includes five levels of accommodation, three function rooms, a commercial kitchen and restaurant, secure basement parking and a three-bedroom penthouse manager’s residence commanding 360-degree ocean, city and harbour views.

Mr Leacy described the property’s location as “five star”.

“Standing on this property you have views in every direction,” Mr Leacy said.

“There are no large-scale sites available in the east end as it stands currently.

“It would be very rare that you could get seven or eight terrace owners to combine forces and go to the market to offer a 1000-square-metre footprint.”

Mr Leacy said he had already received strong interest from prospective buyers interested in the unique property, which he said offered a range of potential uses.

This includes as a redevelopment, boutique hotel and adaptive re-use as residential apartments.

The property’s annual outgoings are $39,476.44.

‘Affordable’ entry point

A WALLSEND property that has housed a real estate office for 81 years has been listed for sale.

The two-storey building at 103 Nelson Street was constructed in 1889 and has had a varied life, originally comprising a residence at the rear and upstairs and also operating as a book store.

It was home to estate agents and builders JT Bishop and Sons for 46 years, housed Reg Clarke Real Estate for 28 years and has been occupied by Street Real Estate since 2008.

Dane Crawford, of Colliers International Newcastle, has listed the 175-square-metre property as a going concern for offers over $340,000.

“This building is steeped in history and is a great investment option at an affordable entry point,” Mr Crawford said.

The property is centrally located in the heart of Wallsend’s commercial centre, close to shops, cafes, bus stops, banks and the post office.

It has five on-site car-parking spaces, two street frontages and is zoned B2 Local Centre. It attracts a net rental of about $31,393.80 per year.

Be part of Wallsend renewal

A WALLSEND development site overlooking parkland offers prospective buyers the chance to play a role in the suburb’s urban renewal.

Simon Boyle and Darren Bender, of Robinson Property, have listed the 4861-square-metre site at 2C John Street for $995,000.

The property is at the end of a cul-de-sac overlooking Federal Park and two-thirds of it is leased to Daracon on an ongoing basis.

Mr Boyle said the site was rezoned on June 26 from light industrial to a mix of E2 environmental conservation and R3 medium density residential.

“This property is ideal for buyers looking to secure a key site overlooking the park and develop now, taking advantage of the new zoning and position among a larger and connected area that has been rezoned,” Mr Boyle said.

“Wallsend is changing – the recent introduction of Bunnings and McDonalds; Wallsend Diggers is extending; a new Andrew Nash medical centre has opened in Cowper Street; and there are apartments planned for Council Street.”

Suite handy to TAFE

A GROUND-floor commercial suite in Islington just metres from the TAFE Tighes Hill campus is available for sale or lease.

John Parnham, of Ray White Commercial Newcastle, has listed the 93-square-metre property at 220 Maitland Road, opposite Islington Park, for $350,000 plus GST if applicable.

It is also available for lease for $24,000 per annum, plus outgoings and GST.

Mr Parnham said the property was underneath three levels of residential apartments and comprised 82 square metres of internal floor space and 11 square metres of store room space.

It has its own internal amenities and two undercover, off-street car spaces.

Mr Parnham said the property has never been occupied, but has waste and ventilation pipes and could accommodate a cafe, op shop, office or other retail space.

“The whole precinct has really changed,” Mr Parnham said.

“This is a very desirable place to be.

“It’s the main thoroughfare into the city and has plenty of street parking available.”

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