Historic Newcastle building sold for $3.5 million
Mayfield West property sold for $1 million
Sale / lease back for Tighes Hill property
Lot 1, 106 Elizabeth Street, Tighes Hill is a freestanding showroom, office and workshop/warehouse with a building area of 800 sqm. It was offered for sale on a lease back basis through McNamara Adams and achieved a sales price of $950,000, with rental of $85,000 pa + outgoings + GST. The lease term was 4 years. The building, constructed of concrete panel in the early 2000’s, received strong interest from investors seeking a property with functional improvements proximate to Newcastle Port showing market based fundamentals.
CBD building fetches over $2 million
A two storey heritage building located on the corner of Hunter and Wolfe Streets in the Newcastle CBD has been sold for $2.025 million + GST. The approximately 1500 sqm building adjoins the Urban Growth / GPT development site. The sale was negotiated through Jason Morris of Raine & Horne Commercial
Tomago workshop sold
Rutherford industrial facility leased
A major industrial facility located at 139 Racecourse Road, Rutherford has been leased for $190,000 + OGS + GST. The facility of approximately 2,550 sqm has a separate office block, workshop with amenities, overhead cranes, huge compacted gravel hardstand area and is security gated with dual driveway access. The lease was negotiated through Paul Tilden at Raine & Horne Commercial.