Location and size are expected to be the drawcards for a Beaumont Street property which has been listed for sale.
Jason Morris, of Raine and Horne Commercial, is marketing a two-storey building at 37 Beaumont Street in Hamilton which is currently being leased and used as Latino bar and restaurant Barcito.
The building is approximately 316 square metres in size with a large outdoor entertaining area including an external bar. The block is around 449 square metres.
The building has a net return of approximately $101,000 per annum.
“It’s Beaumont Street and a rare opportunity as buildings don’t come up that often there,” Mr Morris said.
“It also has potential for a residence upstairs. It is currently being used as an office but the next person along could turn it into a live-in business and live above it.
“That and the size of it are probably the two big things.”
The property is being sold through expressions of interest closing June 14.
Landmark hotel hits the market
One of Newcastle’s oldest hotels has hit the market for the first time in 30 years with The Grand Hotel on the corner of Church and Bolton streets being listed for sale.
Allan Kentwell, of PRDnationwide Newcastle, is marketing the property through an expressions of interest campaign.
Built in the 1890s, The Grand Hotel has been renovated in recent years, including the replacement of its filigree verandah. The building comprises two bars, a function room, bistro and boutique accommodation.
Council lists two assets
Newcastle City Council plan to sell or lease its City Administration Centre “round house” and the adjacent Fred Ash building through expressions of interest.