A ‘set and forget’ in Merewether

Published on: 04/12/2021

A four-tenancy property in Merewether is being marketed as a “set-and-forget” opportunity.

Bringing in about $550,000 per annum, 25 Llewellyn Street is attracting local and national interest ahead of its December 14 auction at Sydney Opera House.

The 1226 square metre property is on the ground floor of the Ocean’s Reach building and is fully tenanted to Go Kindy, Merewether Pharmacy, Hunter Children’s Clinic and Merewether Veterinary Hospital.

Commercial Collective’s Adam Leacy, who is marketing the investment with Burgess Rawson, said the property’s 15-year weighted average lease expiry made it a safe bet for investors.

“This investment is a set-and-forget, this is a pure, passive, safe investment play,” Mr Leacy said.

“It has an extremely strong covenant in terms of childcare, medical, veterinary …. you put those together and it’s a stable income property.

“Notwithstanding the fact that it is in Merewether, one of the most desirable locations in Newcastle and an affluent beachside suburb.

“It’s an opportunity for a sophisticated investor as they will recognise the importance of the tenancy profile, especially during COVID.”

The property also has the potential to be subdivided.


Commercial Collective is also marketing the Jesmond Fruit Barn at 23 Blue Gum Road. The 1613 square metre site has development application approval for 27 residential apartments and a commercial suite.

It is for sale via an expressions of interest campaign that ends on December 16.

Hamish Geale, Newcastle Herald


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