A piece of the Hunter’s media history is up for grabs with Fairfax hoping to find a buyer for its decommissioned printing facility by early October.
Real estate agents say the strategic position of the Beresfield facility is likely to have a major influence on the building’s future purpose.
“The interest we’ve gotten has mainly been from local distribution businesses,” Byrne Tran director of industry at Colliers International Newcastle said.
“The location of the Beresfield warehouse is a pretty strategic location for distribution businesses as it’s located at the northern end of the M1 and the junction of the New England Highway.
“Once Fairfax has decommissioned and removed the [printing] equipment it will bring it back to a good quality, high-clearance office and warehouse with a lot of truck access and parking, which is always highly desirable.”
Fairfax executives announced the closure of its only printing operation in the Hunter in July. The facility has been listed for sale by expressions of interest since the end of September.
Mr Tran said he was expecting the facility, which is located on a 9747-square metre lot, to fetch over $4 million.
“There’s been good interest in the first week of marketing, with two inspections so far and a number of enquiries from local and national businesses," he said.
“In recent times there haven’t been very many similar sales. We’d probably have to go back twelve months to find a similar property in terms of size.”
For this reason, Mr Tran said the warehouse would also make an “astute” purchase for investors “looking to value-add to the property.”
Comprising of an office, car park and warehouse, the facility was purpose-built by Fairfax in 1998. The Newcastle Herald was printed at the site for two decades.