Set on a 620m2 gently sloping block, Zoned B1/Neighbourhood Centre, this property provides excellent flexibility for future development opportunities (subject to council approval).
New development nearby comprises ground-level commercial and car parking with two levels of units above. Similar development on this site would make the land component very economical.
Boolaroo is arguably one of the fastest growing suburbs in Newcastle and Lake Macquarie. A huge Bunnings, Costco Store, approximately 500 new homes and apartments under construction and more planned, puts this Main Street site on the map in a big way. Recent sales suggest this property is well priced for the current market and well positioned for excellent growth in the near future.
The existing tenant is a newsagency and residence with annual combined rent of approx. $20,000 plus outgoings (approx. $6,000). You could also consider keeping the shop and residence leased until ready to redevelop.
Call 02 4958 8555 today to book an inspection.
COVID SAFE:
In compliance with current orders issued by the Department of Fair Trading and NSW Health, we are required to record contact details of all parties that attend inspections, and you will be asked to check in via QR code on entry. Only one person may enter the home at a time. You must adhere to the 1.5-metre social distancing rules and if you have recently visited a known "hotspot", are experiencing any of the COVID symptoms, have returned from overseas or travelled interstate in the past 14 days, we request that you rest at home, isolate, and do not attend our inspections.
NB: All information collected is securely stored and only used for the purpose of COVID-19 contact tracing.
Please refer to health.nsw.gov.au and fairtrading.nsw.gov.au for further information.
