Back to previous step
Auction Location: Commercial Collective - 10 Newcomen Street, Newcastle NSW 2300 | In-room and online
For Sale by Public Auction on Wednesday 22 October at 11am (in-room and online)
A significant opportunity to secure an income-producing asset with substantial future development upside (STCA). Set on a generous 1,438.42sqm MU1 Mixed Use zoned site, the property comprises a mix of ground floor retail shops including pharmacy, grocer, takeaway food, bakery and first-floor commercial suites, all occupied by long-standing tenants, mostly on flexible holdover arrangements.
As the only convenience-based centre in Caves Beach, it holds a dominant position within the local catchment and benefits from minimal competition. The property's neat and well-maintained condition ensures low short-term capital outlay, while the flexible zoning alloWs for a broad range of future uses including residential, retail, and commercial. With established income and strong underlying land value, the asset offers holding income today with immediate rental reversion upside, redevelopment potential and long-term growth.
- Total current gross income of $215,967.38* per annum plus GST
- Reversionary income potential of $265,000* net per annum plus GST (upon rent review or reletting)
- Anchored by SPAR Express, a local grocer
- Multiple ground-floor shops and first-floor commercial suites
- 1,438.42sqm* MU1 Mixed Use zoned site
- Generous off-street parking directly adjoining the centre
- 13-metre building height limit allowing for future redevelopment (STCA)
- Highly exposed corner location with high foot traffic
- Ideal for investors, developers or value-add buyers seeking future upside
*Approximately
Remember to mention you found this property on CommercialReady
Auction Location: Commercial Collective - 10 Newcomen Street, Newcastle NSW 2300 | In-room and online
For Sale by Public Auction on Wednesday 22 October at 11am (in-room and online)
A significant opportunity to secure an income-producing asset with substantial future development upside (STCA). Set on a generous 1,438.42sqm MU1 Mixed Use zoned site, the property comprises a mix of ground floor retail shops including pharmacy, grocer, takeaway food, bakery and first-floor commercial suites, all occupied by long-standing tenants, mostly on flexible holdover arrangements.
As the only convenience-based centre in Caves Beach, it holds a dominant position within the local catchment and benefits from minimal competition. The property's neat and well-maintained condition ensures low short-term capital outlay, while the flexible zoning alloWs for a broad range of future uses including residential, retail, and commercial. With established income and strong underlying land value, the asset offers holding income today with immediate rental reversion upside, redevelopment potential and long-term growth.
- Total current gross income of $215,967.38* per annum plus GST
- Reversionary income potential of $265,000* net per annum plus GST (upon rent review or reletting)
- Anchored by SPAR Express, a local grocer
- Multiple ground-floor shops and first-floor commercial suites
- 1,438.42sqm* MU1 Mixed Use zoned site
- Generous off-street parking directly adjoining the centre
- 13-metre building height limit allowing for future redevelopment (STCA)
- Highly exposed corner location with high foot traffic
- Ideal for investors, developers or value-add buyers seeking future upside
*Approximately
Remember to mention you found this property on CommercialReady
Yield Calculator
Yield Calculator
