A unique portfolio right in the heart of the Newcastle CBD has been placed on the market through Michael Chapman and Peter Macadam of Colliers Newcastle. The portfolio comprises four buildings at 133-151 King Street with a site area of over an acre! Their combined building areas total 7,115 sqm and includes a total of 85 car spaces.
Included is the heritage listed Central Hall, a single-storey brick building with a mezzanine level which was built in 1903. It is now home to the very swish tenants, Salon Society & Co and Bartholomew’s Cocktail Bar and it last traded at $300,000 in 1999. Next door at 149-151 King Street is the former Wool Exchange Building, also heritage listed it has since been converted to into 31 residential apartments with ground floor retail/commercial space. It was purchased in 1995 for $410,000.
Also available is 139 King Street, a two-storey arcade building with two shop fronts to King Street and offices above and 133-135 King Street, a four-storey office building with a two-level parking station to the rear with 81 parking bays. The former traded at $530,000 in November 1999 and the latter at $675,000 through two parcels between 2000 and 2001.
The buildings can be purchased individually or in one line and offer a combined passing net income of $839,560.
CoreLogic Australia