Tighes Hill Commercial Centre for Sale
A substantial commercial building offering endless opportunities at Tighes Hill in Newcastle’s north-west is being offered for sale by the Ray White Newcastle Group.
The Tighes Hill Commercial Centre at 20 Elizabeth Street, Tighes Hill, is being marketed via Expressions of Interest by Ray White Commercial Newcastle’s John Parnham and Ray White Newcastle Lake Macquarie’s Barry Price.
John Parnham said the property is situated on a sizeable corner block of approximately 2,029 sqm with a large commercial building of approximately 1,568 sqm on three street frontage, while there is on-site parking for approximately 27 vehicles.
“This property represents an outstanding opportunity with a multitude of options including significant redevelopment potential,” he said.
“Once operating as a social club and function centre, the property has been recently approved for refurbishment and use as a corporate administrative office.”
“The building comprises approximately 12 offices/meeting rooms, ample storage areas, multiple amenities and commercial kitchens and a large open function room.”
“It would suit a wide range of commercial and residential users including childcare centres, function centres, government organisations, professional offices/medical rooms, dance studios, recreational facilities, places of worship, student accommodation or boarding houses.”
Mr Price said the Tighes Hill Commercial Centre is opportunely situated with easy access to Industrial Drive and Maitland Road.
“The site is close to public transport and tertiary education facilities such as the University of Newcastle and Tighes Hill TAFE,” he said.
“It’s only approximately 10 minutes’ drive to the Newcastle CBD and major arterial roads.”
Mr Price said part of the building was leased by Coalfields Diakonia Grainery Care Incorporated, which offers training, counselling and care services as well as operating an ‘op shop’ on site.
“They have a two year lease which expires in April, 2016, with an option to renew for a further two years, and are currently paying $17,680 in gross annual rental,” he said.
Expressions of Interest close at 3pm on Wednesday, May 20, 2015, if not sold prior.