NEWCASTLE DEVELOPMENT SITE

Sold under the hammer following a competitive marketing campaign, the exclusive agents are pleased to announce the sale of 125 Ridge Street, Merewether.

Offering an interim holding income the site is ideally situated near the beach and close to transport making it suitable for future residential development (S.T.C.A).

Key highlights include:
• Site area of 735 sqm*
• Leased to Telstra for four (4) years expiring 2022
• Proposed gross annual rental income of $28,100 excl GST
• Currently zoned R2 – Low Density Residential
• Situated in an affluent suburb of Newcastle
• Development potential (S.T.C.A)

Sales Analysis
Sale Price:$995,000
Sale Date:11 April 2018
Total Floor Area:281 m2*
Total Land Area:735 m2*
Proposed Rental Income:$28,100 + GST*
Zoning:R2 Low Density Residential
Outings:$37,145.13* p.a
$/m2 Land Rate:$1,353.74
Vendor:Confidential
Purchaser:Confidential
Sale Process:Public Auction