The property is suitable for investors looking to expand their property portfolio with a high cash flow business property. Alternately, it could suit educational, medical, health, religious or other institutional organisations.
The property could also suit groups looking for lower-cost private hotel type set up of residential accommodation (STCA) this hostel-housing option would offer.
Boarding House Newcastle NSW Investment
15 room da approved Boarding House for sale in Mayfield, Newcastle less than 2 hours from Sydney.
This property has sold. To see our newest listing follow this link.
Newcastle is Australia’s most 7th largest city in Australia. It currently has an estimated expanding population of over 450,000 people. This population is similar to Canberra and around three times the population size of Darwin and over twice the size of Hobart.
More importantly, from a property investment point of view a growing demand for cheaper residential housing.
Newcastle is easily accessible and around 160kms north of Sydney. It is located in the heart of the Hunter Region and bordered by a stunning coastline with beautiful beaches.
Who would be suited to invest in this Investment Property
The Boarding House could suit educational, medical, health, religious or other institutional organisations.
In addition, the property could also suit groups looking for lower-cost private hotel type set up of residential accommodation (STCA) this hostel-housing option would offer.
Convenient to major, educational, medical, entertainment, leisure and commercial facilities. Amazing 740 sqm level block size.
The corner level block represents a rare opportunity to purchase fully equipped business property with convenient rear access. Large 310 square metres floor area (approx).
The established boarding house consists of 13 single and two double boarding rooms with a maximum of 17 people, including a manager. There is also a generously sized commercial and separate smaller kitchen, dining room, shared bathrooms, lounge, laundry, visitors room, office and reading room. The spacious outside garden area consists of a terrace, BBQ and off-street car space. This investment property is in a quiet street with plenty of street parking car spaces.
Within 10 mins drive to Newcastle CBD, University, Newcastle Tafe, McDonald Jones Stadium, shops and train station. Short walk to local shopping centre and transport.
As well, it is around 2-3 mins drive (around 10 – minute walk) to several local Primary Schools and High School. Imagine the possibilities.
Boarding House Zoning
Fernlea Hostel was originally approved as aged care accommodation. The current owner converted the property to its current use and approval of authorised assisted boarding House in 1995. They are now looking to retire.
In summary, the current R2 low-density zoning allows (with consent) for approval and a development opportunity for various accommodation, health, education, institutional uses. This includes new generation boarding houses, centre-based childcare facilities, community facilities, educational establishments, emergency service facilities, group houses, hospitals, respite accommodation and tourist and visitor accommodation.
Discover more about about this Business Property – This property has been SOLD
Fearnlea Hostel presents an outstanding introduction to the popular boarding house investment market. Also, it offers an opportunity to acquire a good cash flow freehold commercial business with several options to improve your commercial property investment future earnings. The property is being offered for sale by Con Tastzidis of CST Properties via expressions of interest with a price guide of $1,250,000. For further details contact Con Tastzidis on 02 9882 2221 or via our contact page.