Commercial Property: Level 3 of Hunter Mall Chambers open to sale or lease

BUY OR TENNANT: The third floor of the circa 1908 Hunter Mall Chambers has been put on the market but will also be considered as a leasing opportunity.
BUY OR TENNANT: The third floor of the circa 1908 Hunter Mall Chambers has been put on the market but will also be considered as a leasing opportunity.

Colliers International’s Peter Dodds has listed level three of the circa 1908 Hunter Mall Chambers for sale or lease.

The property at 175 Scott Street, Newcastle, has been vacated by Harris Wheeler Lawyers, which merged with national mid-tier firm Hall & Wilcox in June.

Mr Dodds said there was high demand for commercial properties in the Newcastle CBD at the moment due to revitalisation projects such as the upcoming redevelopment of the Hunter Street mall and closure of the rail line.

Three former directors of Harris Wheeler have put the property on the market for $2million or offers over but have not ruled out the option of leasing the property, which features a total lettable area of approximately 995sqm currently fitted as a corporate office. 

“It’s been vacated. It’s got a fit-out in place and it may suit someone to lease or it may suit someone to purchase it,” Mr Dodds said.

“It’s in a key position these days and the building has undergone a lot of work recently and is in really good shape.”

Mr Dodds sold level four of the Hunter Mall Chambers, which did not have an office fit-out, for $2million on August 2.

He said it includes reception and waiting area, numerous glassed offices with views of the harbour and city, boardroom, open plan area, lunchroom and breakout area, large file storage rooms and separate male and female amenities. 

$4.6m for Colliers

Colliers International’s Newcastle headquarters, the ground floor of 18 Honeysuckle Drive, was sold at auction to a local investor for $4.6million on September 21.

Selling agent Adam Leacy said there were five registered bidders for the property. Colliers has a 10-year lease on the property. 

Wickham Wows

An industrial shed built over four residential lots at 57-59 Robert Street, Wickham was sold for $1.325million through private treaty on September 22.

Selling agent Jason Morris, of Raine & Horne Commercial, said the property offers development opportunities and was purchased by a local buyer.

It offers dual street frontage to Annie and Robert Streets and is zoned R2 Low Density Residential.