For Sale by Expressions of Interest closing Thursday 26 June 2025 at 4pm (AEST)
Office asset with strong returns and approved penthouse DA
This five level commercial building presents a premium opportunity to secure a strategically located, multi-tenanted investment in Newcastle's rapidly evolving East End. With 2,717sqm* of modern office space, the asset is currently 84% leased and will generate a fully leased net income of $1,001,273 per annum plus GST. The property is tenanted by Sidcor, a reputable national accounting firm, and Newsure, a specialist insurance brokerage, both of which provide a solid and reliable income stream. These tenants contribute to a stable base, while the flexibility of the lease structure provides future potential for diversification across a range of sectors.
The property also holds strong potential to re-purpose for a residential conversion development utilising it's large floor plates and close proximity to surrounding beaches and amenities. The fifth floor suite remains vacant, presenting an immediate opportunity to increase rental income and add further value.
Additionally, the building holds Development Approval (DA) for the construction of a luxury four-bedroom penthouse apartment, providing future residential income potential and a long-term avenue for capital growth through diversification. Located within walking distance of Newcastle's transport interchange, harbourside precinct, Pacific Park and Newcastle Beach, the property benefits from excellent connectivity and proximity to local amenities, positioning it for future tenant demand across various sectors.
Investment highlights:
- Strong fully leased net income of $1,001,273 per annum plus GST
- 84% leased to Sidcor and Newsure
- 2,717sqm* of modern office accommodation across five levels
- DA approval^ for a premium four-bedroom penthouse apartment
- Immediate value-add opportunity through leasing and development
- East End location near key infrastructure, developments and public transport
- 5.5-Star NABERS Energy Rating
*Approximately
^ DA consent expires 12 Dec 2026
