Positioned in one of Newcastle's most tightly held and sought-after locations, this substantial 538m2; R3 Medium Density zoned parcel presents an outstanding opportunity to unlock the site's full potential.
Currently comprising four established one-bedroom units, the property provides an immediate and secure income stream of $1,960 per week, equating to $101,920 per annum, while offering significant scope for future development, subject to local council approval.
Whether your vision is to retain, enhance or completely redevelop the site, the flexibility of the R3 zoning creates an exciting range of possibilities.
Potential options, subject to council approval, include:
• Knock down and create a significant new residence
• Retain the existing improvements and undertake enhancements
• Unlock the site's development potential with townhouses or apartments
• Explore a combination of holding income and future redevelopment
With strong existing rental income, a generous landholding and a premium The Hill address, this is an opportunity to secure a property today while shaping its future to suit your own investment or development objectives.
Current Rental Income
• Unit 1: $470 per week - Exp. 26/04/27
• Unit 2: $490 per week - Exp. 17/05/27
• Unit 3: $500 per week - Exp. 31/01/27
• Unit 4: $500 per week - Exp. 10/05/27
Total: $1,960 per week
Annualised Rental Income: $101,920 p.a.
All development opportunities are subject to relevant approvals and consents.
To be sold by Expressions of Interest, closing Thursday 8 October 2026 at 12pm. Contact the exclusive selling agent for further information or to submit your interest.
Disclaimer: All information contained herein is gathered from sources we believe to be reliable. However, we cannot guarantee its accuracy and interested parties should rely on their own enquiries and independent advice.
