Sylvester Callaghan Brokers is sounding out overseas interest in land at Williamtown with DA approval for a motel and tavern.
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The 1.3 acre site comes with approval for a 50-room motel and a tavern with 21 poker machine entitlements, to be sold either together for $2.2 million or separately for $1.2 million per site.
Four other retail outlets - including a KFC, Gloria Jeans and Subway - are also in the pipeline for the site, which is next to the existing McDonalds restaurant on the corner of Nelson Bay Road and Lavis Lane.
"It's going to become a bit of a retail hub," Agent Ian Farrar said.
Mr Farrar said the closest tavern was in the neighbouring suburb of Medowie, while the major expansion of the airport meant a strong demand in the area for accommodation.
"We're playing on the growth of the airport, the fact the airport's going to become a fairly central location with overseas visitors coming to Newcastle," he said.
He did not expect the newly-developed Mercure Hotel to stifle demand.
"We've done some research and the Mercure is operating at a fairly high rate, we understand," Mr Farrar said.
"We're targeting a different sort of market. A 3-and-a-half star type market as opposed to the four star, more expensive type of offer the Mercure has made."
He said there had been substantial interest locally and the property had just been listed for sale overseas.
"Sylvester Callaghan Brokers are pleased to be associated with project developer David Gaddes on this exciting project," Mr Farrar said. "A stage three development will be released at a later date."
INDUSTRIAL ESTATE
Colliers International are offering up an opportunity to rent or buy in the popular Thornton Industrial Estate.
Located at 20 Sandringham Avenue the 1.081 hectare site offers a first class 1,665 square metre engineering workshop.
The property also offers an office area, a 10 tonne overhead crane with six metre height clearance and 18 on-site car parking spaces.
“This is a good industrial property of this size and quality,” agent Byrne Tran said.