Location key selling point for Newcastle Leagues Club

DEVELOPMENT OPPORTUNITY: The site of Newcastle Leagues Club has the potential to be transformed into residential apartments, according to Matt Kearney of Colliers International. Picture: Supplied
DEVELOPMENT OPPORTUNITY: The site of Newcastle Leagues Club has the potential to be transformed into residential apartments, according to Matt Kearney of Colliers International. Picture: Supplied

Interest in Newcastle Leagues Club has been “good but not outstanding”, according to Colliers International’s Matt Kearney.

Mr Kearney has listed the club on behalf of Newcastle Rugby League, which has decided to put the venue on the market after nearly 60 years.

The property at 17 National Park Street, Newcastle West, went on the market this month and is being sold through expressions of interest closing on October 12.

“It is ideal for developers or builders looking to secure a small infill development site,” Mr Kearney said.

“It’s a project that people will be able to get in and out of in a relatively quick time compared to some of the other projects around town.”

He said the location was a key selling point and said the site lended itself to be redeveloped into residential apartments.

The property is positioned within walking distance to the harbour foreshore, the University of Newcastle, cycleways, cafés, restaurants, bars, shopping, public transport and the Newcastle CBD.

The property features a 27-metre frontage to National Park Street and the total site area is approximately 923sqm. It has a maximum FSR of 6:1 and a maximum height of 60 metres.

The ground floor is being used as Newcastle Rugby League headquarters and also includes a main trading bar, full commercial kitchen, amenities and gaming lounge.

SUPER AUCTION BIG HIT

A private Sydney developer paying $1.75 million for a 2000sqm site in the heart of Nelson Bay was a highlight of Raine & Horne Commercial Newcastle’s Super Action held on September 14 at Fort Scratchley.

Auction coordinator Steve Dick, director of Raine & Horne Commercial, said six of the nine commercial properties on offer sold under the hammer and the event attracted more than 60 interested parties and 22 registered bidders, including several “big guns” from Sydney and Newcastle.

“Six of the properties sold under the hammer, a result that confirms the health of commercial real estate markets in Newcastle and the Hunter region,” said Mr Dick.

He said the market’s vigour was exemplified by the auction of a small shop at 207 Cessnock Road, Abermain, which sold for $335,000 to a Sydney investor.