This is the perfect opportunity for those who would like to positive gear their investment, subsidise their mortgage by renting to a chosen neighbour or convert to one large single residence.
The benefits of the Medium Density R3 Zoning are huge (S.T.C.A) There is potential to add a further level within its 10 metre height limit or to substantially expand the building within the generous 0.9:1 Floor Space Ratio for this prime block of land.
Perched on the Hill in a fantastic historical location, 122 Hanbury Street Mayfield is located within 2 blocks of Mayfield's Renewal Corridor. Situated close to transport, Local schools and amenities, offering an easy 6.5klm drive to Newcastle CBD whilst also enroute to the M1 Pacific Motorway.
Superbly constructed Art Deco Period Cavity Brick property featuring high ceilings, ornate cornices and picture rails. Both units are generously proportioned with separate lounge & dining, renovated bathrooms and kitchens with plantation shutters and gas cooking in the top floor unit. The upper level rear deck takes in picturesque views from as far as Mount Sugarloaf, Charlestown and Merewether.
The Newcastle region has all the natural elements of wildlife and wilderness with beautiful coastlines, golden beaches, natural lakes, bays, inlets and pristine hinterland.
The home is sure to tick all the boxes with a Dual Occupancy being a great way to enjoy two income generating properties on a single title. Can be leased separately or together offering investors great opportunity for maximum rental return.
Both units are currently leased to responsible tenants willing to stay long term.
Investors are welcome to contact our office for rental return estimates.
Expressions of Interest Now Closed
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