hunter street property brochure

• Under the current Newcastle local environmental plan (L.E.P) the Property is centrally located in the—New Central Business District (C.B.D.) which permits development height of 90 metres. • There is an approved DA for this site to 9 Floors (however this D.A. is subject to

purchase of 764 Hunter Street which currently has a lapsed option associated) • The concept of Development to achieve the maximum height (90m) would

necessitate acquisition of other adjoining property to gain the footprint necessary.

DISCLAIMER: All information contained herein is gathered from sources we deem reliable. However we cannot guarantee its accuracy & act as a messenger only in passing on the details. Interested persons should rely on their own enquiries.

FOR SALE DEVELOPMENT SITE—D.A. APPROVED

507 Hunter St, Newcastle NSW 2300 Ph: (02) 4926 1566 Fax (02) 4929 7073 www.shedden.com.au [email protected]

507 Hunter St, Newcastle NSW 2300 Ph: (02) 4926 1566 Fax (02) 4929 7073 [email protected]

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766-778 Hunter St, NEWCASTLE WEST

776—778 Hunter Street, NEWCASTLE WEST

Dangar House Information 766 - 778 Hunter Street NEWCASTLE is a large commercial building that has seen a multitude of users over the years from Klosters Head Office to Radio Station NewFM to its current under utilised state in preparation for re-development. This represents an opportunity to secure a functional office block that has an after life due to the DA Approval for high rise development. Description: The property is located over (3) titles with (3) building components all interlinked occupying the majority of the land area over (2) levels. The eastern most site comprises of a single level brick building with fibrous cement roof, retail frontage and rear lane garaging. The middle building has a common facade with the western most building and occupies the entire site over (2) levels, the upper level currently used as a home by the owners. However, it has previously been used as office and recording studios for a radio station. The ground floor level of this building comprises (3) retail shop fronts with rear garaging and storage. The western most building is actually (2) buildings with a central light well, with the top level of each building previously used as offices. However, the front upper level has been converted to a flat with the rear upper level vacant. The ground floor has a single retail shop front.


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Title Details: Lot 12 - DP163482, Lot 11 - DP82319 and Lot 1 - DP83747 Zoning: 3(b) Commercial Core Council: Newcastle City Council www.ncc.nsw.gov.au Site Area: 1,239.3m2 approximately Building Area: 1,725m2 approximately Storage Area: 531m2 approximately - Car Parking: (12) approximately Sale Price: Two Million One Hundred Thousand Dollars (2.1M) negotiable. Rental: $57,468per annum + GST (Gross) Lease Terms: Expired Option: Nil Tenants: Costume Jewelry & Clothing Shop (766 Hunter) Kung Fu Studio Instruction Class Shop (768 Hunter) Foyer entry to first floor area apartment (770 Hunter) Raw Alchemy Coffee and Gallery (772-774 Hunter) Entry to first floor level apartment (774a Hunter) Newcastle Florist (776-778 Hunter) Warehouse (Rear of 766-778 Hunter)




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Council Rates $12,238.75

Water Rates & Usage $ 3,236.00

TOTAL $22,545.67

Insurance $ 4,554.92

Council Rates $ 1,412.00

Land Tax $ 1,104.00

DA Approval: The property was granted Development Approval on 31st of October, 2007 (which expires 31/10/2012) for a (9) storey mixed commercial and residential high rise building, consisting of (18) bed-sit style serviced apartments, (31) residential units and ground floor retail. This development was approved to include 764 Hunter Street Newcastle. (a property which was under option but has now lapsed). Any future desire to develop would require an amendment to the DA Approval or acquisition of 764 Hunter Street Newcastle The development consent is set to expire on 31st October 2012

• Approved DA Is for a (9) storey building • Including ground floor retail of 291 m2 • Including (2) levels of serviced apartments (totaling 18) • (6) levels of residential apartments, which included (8 x one bedroom)

(6 x two bedroom) and (15 x three bedroom) and (2) penthouses • Gross floor area of the project was to be 4,348m2 • On-site car parking totaling (61) spaces




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766-778 Hunter Street Newcastle is in its own right a sturdy, large commercial building with on-site parking and retail income. However it also has an afterlife due to the current owner obtaining a Development Consent for a (9) storey mixed use building. Situated on 1,239m2 of Commercial Core land is an existing building 1,725m2 of floor space and over 530m2 of car parking and storage, all within a short distance to a railway station, shopping centre and new Grand Mercure Apartments, making it a building that can be modified to occupy now and re-developed in the future when the market dictates. INSPECTING THE PROPERTY: The full features of the building are best observed during an inspection by appoint-ment with Marketing Agents Shedden Real Estate. This property report (the report) has been compiled for the information of the interested parties to assist them in deciding whether they are sufficiently interested in the property offered for sale to proceed with further investigation of the property. The information does not constitute all or any part of an offer or contract for sale, and is intended as a guide only.




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The information contained in The Report has been prepared in good faith. Interested parties should take note however; that any calculations contained in The Report are based on information provided by outside sources and have not been independently verified by the agent. Any projections contained in The Report, therefore, represent best estimates only and may be based on assumptions which, while reasonable, may not be correct. Interested parties should not rely on any material contained in a brochure or The Report as a statement or representation of fact but should satisfy themselves as to its correctness by such independent investigation as they or their legal or financial advisers see fit. To the extent that this document includes any statement as to a future matter, that statement is provided as an estimate and/or opinion based upon the information known at the date of preparing this document and assumptions which may be subsequently prove to be incorrect. The vendor does not warrant that such statements are (or will be) accurate or correct. This document is provided on the condition that, subject to any statutory limitation to do so, the agent disclaims liability under any cause of action including negligence for any loss arising from reliance upon this document. This report is provided on behalf of the vendor on a confidential basis to the recipient for the recipient’s sole use and is not to be re-supplied or distributed by the recipient to any other person without the prior written consent of the agent/vendor and the agent/vendor is not liable for any loss arising for such unauthorised use or reliance. GST The agent advises that the financial information provided by the vendor in this report relating to income, outgoings and the like are provided without reference to the impact of GST, if any. Purchasers must make their own assessment of the impact of GST on the investment, property, lease etc and the returns derived there from after obtaining independent expert advice.



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hunter street property brochure

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