5 Year Renewed Lease to Officeworks – Adjacent to Westfield & Bunnings

Burgess Rawson and Commercial Collective are pleased to present this prime investment in the heart of Newcastle’s premier commercial and retail precinct at Kotara (Newcastle).

Freehold site 5,171 sqm
Building GBA circa 1,817 sqm*
B2 Local Centre zoning
Main road exposure & profile
Officeworks renewed 5-year lease + options to 2036
Fins Swim School new 7-year lease + options to 2048
Combined net income $644,710 per annum
61 car parking spaces
2 x 100kW solar energy systems
Entire new roof installed 2020

Kotara is known as one of Newcastle’s largest and most important retail destinations, covering a massive trade catchment encompassing the entire Hunter Region.

Unrivalled position adjacent to Westfield Shopping Centre, hosting 280 stores and Kotara Home World with major anchor tenants including JB Hi-Fi, Dan Murphy’s, Domayne, Aldi and Bunnings Warehouse. Historically nil vacancy rates of similar sites within the precinct.

35 Northcott Drive represents 12% of the balance of B2 land not held by the above centres, demonstrating the tightly held nature of a land holding of its size, zoning and position.

Outstanding opportunity to acquire a prime Wesfarmers anchored investment with long lease expiries and rich land content.

For Immediate Sale
Indicative Price $14,000,000 (circa 4.60%)