35 Northcott Drive, Kotara NSW 2289

Kotara

35 Northcott Drive

  • Auction

5 year renewed Lease to Officeworks - Adjacent to Westfield and Bunnings

Auction Tuesday 14 December 2021 at 11am at Yallamundi Rooms | Sydney Opera House

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

- Freehold site 5,171sqm*
- Building GBA circa 1,817sqm*
- Zoned B2 Local Centre
- Main road exposure and profile
- Officeworks renewed 5 year lease + options to 2036
- Fins Swim School new 7 year lease + options to 2048
- Combined net income $664,710* 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.

*Approximately and outline indicative only

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