Old church building converted to Boarding House plus additional one-bedroom residential home on around 739m2. Dual street frontage. Current gross income is around $153,660 pa. opportunity for other commercial business uses (STCA) or create your dream home.
Boarding House – Converted Church For Sale
Around ten years ago, the old “St Gabriels” Church was transformed into an eight-room DA approved boarding house. CST Properties is happy to announce that you now have an opportunity to be a proud owner of this unique property by placing this converted Church for sale by public (virtual) Auction on 28th October 2021 (unless sold beforehand).
The easily managed high yielding Newcastle Boarding House has a consistent record of drawing tenants attracted by its convenient Newcastle Harbourside location. It is minutes to all services, Hamilton/Newcastle interchange, attractive waterways, Shops, personal services, entertainment, sporting facilities, local bus public transport near the front door, park across the road, easy access to airport, spacious indoor shared outdoor areas. The current gross income is around $153,660 pa.
What the boarding house development offers
The size and design of each of the accommodation areas vary. All boarding rooms have their private facilities, and several have separate bedroom areas. Sizes range from around 17m2 to 24m2, well above the minimum requirements. In addition, there is a large community kitchen, laundry and extensive lounge, study areas, plus several covered and open outside recreation areas.
Possible commercial redevelopment opportunities
The Old church property has dual street frontage and sits on an impressive site area of around 739m2. More than double the land size of many of the homes in the surrounding area. This presents an opportunity to either upgrade or reposition the current multi-room boarding house and current structures.
The current R2 zoning allows for several other uses for the real estate subject to council approved development application. Possible uses include community facilities, education, childcare, medical and tourist/visitor accommodation.
The additional residential property included
There is also a second residential property built fronting Albert St. This is an open plan one-bedroom home with around 65m2 of internal space, including separate dining and lounge areas. In addition, there is a large covered outdoor entertainment area plus a storage shed which more than doubles the living areas of the residence. The property has onsite parking for three cars.
Possible Residential Family Home
There is also the option of taking advantage of the attractive architecture of the old historic church building. The high vaulted ceilings and the emotional sensation of an abundance of space, bright ambience and large 234m2 footprint present an opportunity to convert the current boarding home into your residential family masterpiece.
Boarding House Property Investment Summary
Some of the reasons this property may be for you;
Consistent revenue history
Low maintenance, easily managed investment with a long history of high occupancy and growing rental income.
Close to transport
With many transport options close to the property, you rarely need to use your car—bus near the front door with Hamilton and Newcastle Interchange a short walk away.
Easy access to Newcastle Airport
Around 24 minutes drive and regular bus services to the airport which serves several major Australian & New Zealand tourist & business destinations.
Short drive to take the children to school.
It is surrounded by several local public and private schools.
Minutes to all services
Short distance to Newcastle CBD, shopping, business/personal/medical services, and major shopping, entertainment, university, TAFE and other tertiary establishments.
Plenty of adventure and places to discover close by
Newcastle is the gateway to the Hunter Valley and other popular tourist destinations
Easy access to waterways.
Close to the attractive harbour waterways, bike & pedestrian walks, crystal clear Newcastle beaches, Marina, and Yacht club
Plenty of green space
It is surrounded by plenty of open spaces, including a large park across the road.
Possible redevelopment opportunities
The unique features of the old church building, the well above average land size, two street frontages with a possibility of future subdivision or redevelopment in the future (STCA)
Separate Private Home
Option to use the existing separate house as either your own/managers residence with an income in your back yard or to keep it leased out as an investment.
Electricity can be a significant expense in any property investment. The old church building has solar power installed for energy savings.
A feeling of open space and imagination
The original church buildings high ceilings and attractive architecture create a unique opportunity to enhance further and unlock even higher returns on your investment.
Create a residential home that others would envy.
Redundant churches have made some classic residential homes around the world. Are you ready to enhance the buildings unique features and unlock your creativity to craft your residential masterpiece?
Plenty of outdoor space
Large covered and open low maintenance outdoor private entertainment areas. More room for the kids to play, bbq areas, pool…..?
Relaxing, bright and spacious indoor areas
Open areas with good natural light and spiralling ceilings creating a relaxed feeling of freedom and spaciousness.
Easy access to Sydney
Australias largest city is less than 2 hours away by road and around 2 1/2 hours by rail, with two stations a short walk away.
Regional Country Lifestyle – major city convenience
As you already know, if you live in Newcastle is regarded as one of the most livable cities in Australia
Boarding Houses have become popular real estate and business investments over the last 10 years or so. Properties with the quality, character and features of St Gabriel’s church along with several business and lifestyle options in convenient locations do not come around very often.
The property is due to go to public auction on Thursday 28th October 2021 (unless sold before) Are you interested in becoming the next proud owner? Contact Con Tastzidis at CST Properties on 9882 2221 or 0403 118830 before this one gets away again.