Commercial Property: King Street building has DA approval for medical centre

OPPORTUNITY: This two-level building in King Street has development application approval for a medical centre and is being marketed for offers over $1.6 million.
OPPORTUNITY: This two-level building in King Street has development application approval for a medical centre and is being marketed for offers over $1.6 million.

A building on King Street with development application approval for a medical centre is on the market with offers over $1.6 million being considered.

Nick Christensen of Colliers International is marketing the property at 368 King Street, Newcastle which has a medical fit-out.

It was listed for sale this month and has had good interest from owner-occupiers.

“It’s got a 45-metre height limit and 5:1 FSR but it’s only 200 square metres of land,” he said.

“It could probably go another floor or two but there is definitely value add there.

“It’s a great location. It’s got a parking station across the road and is right in the middle of the CBD.”

The property is a two-storey commercial building and has separate entries to both levels.

The ground floor comprises reception, waiting room, five consultation rooms, kitchenette, male and female amenities and storage room.

The first floor comprises of reception, waiting room, four consulting rooms and procedures room plus a small outdoor area.

VACANT LAND IN CHARLESTOWN 

Two side-by-side blocks of land being sold on behalf of a government vendor at 55-57 Smith Street in Charlestown has attracted strong interest with developers, according to Creer Property’s Alicia Taylor.

The site totals 1985.8 square metres and is zoned R3 medium density residential.

The properties will be taken to auction on February 10.

GWH Build development Highpoint, set to be 15 storeys high, is set for construction in close proximity and Eastside Apartment complex has been built on the corner of Smith and Charles Street.

Another greenfield holding of nearly 3000 square metres, comprising the three blocks of 4 and 6 Dudley Road and 4 Charles Street, is being marketed through Colliers International.

FIT-OUT: There are reception areas on both levels and separate entry points in the building for sale at 368 King Street.

FIT-OUT: There are reception areas on both levels and separate entry points in the building for sale at 368 King Street.

POTENTIAL: A site at 55-57 Smith Street in Charlestown is on the market and has attracted interest from developers.

POTENTIAL: A site at 55-57 Smith Street in Charlestown is on the market and has attracted interest from developers.