A-GRADE OFFICE SPACE: The former Newcastle Herald building on Bolton Street has undergone an internal overhaul and the ground floor and first level are up for commercial lease.The well-known Newcastle Herald building in Newcastle East’s Bolton Street has had a major refurbishment and its bottom two floors have been listed for commercial lease.
Michael Chapman, of Colliers International, said the ground floor and level one of the historic building at 28-30 Bolton Street presented the opportunity for businesses to lease brand new A-grade office space.
Areas available range from 243 to 530 square metres. There will be 10 on-site car spaces anda new entrance has full accessibility and a lift servicesboth floors.
Related content: Latest local property news
“Last year we took to the market three commercial floors in the existing Herald building and sold them off the plan individually,” Mr Chapman said.
“Thedevelopment is nearing completion now and we have started marketing ground floor and level one.
“In essence, it has been a complete rebirth of the Herald building. The major heritage facade and features havebeen retained but internally will be new A-grade office space.
“We’ve had a bit of enquiry so far, only one week into the campaign, just based on the nature of the building and the history around it.”
The building adjoins a new residential development of 119 luxury apartments and is located within close proximity to transport, the harbour and amenity.
Mr Chapman is also marketing “a premium investment” at199-201 Hunter Street in Newcastle.
It is a modern three-storey building with a net income of $172,294.76 per annumplus GST leased to national superannuation fund and located close tothe Hunter Street Mall redevelopment site.
It is set for auction on November 8with bidding expected around $2.85 million.
“Interest has been pretty strong,” Mr Chapman said. “The location is fantastic as well. You’ve got everything happening with the East End development and light rail opening up.”