A prime-located site in Adamstown has just hit the market through Laing+Simmons Newcastle Central, presenting one of the first major opportunities for developers to take advantage of the coming revitalisation of Brunker Road and its surrounds.
The site encompasses 53, 55 and 57 Date Street, just metres from Brunker Road and immediately adjacent to the Adamstown Renewal Corridor, an area ripe for economic growth and housing renewal as designated by the Lower Hunter Regional Strategy.
Laing+Simmons Projects, the project marketing division of the Laing+Simmons network, collaborated with the Newcastle Central office to amalgamate three residential sites and create a new blank canvas opportunity for developers to realise their creative vision.
Laing+Simmons Newcastle Central Director, Michael Barber, said that the site offers great economic potential for developers and investors who want to see a return on investment.
“It’s an exciting time for the Brunker Road corridor with urban revitalisation on its way. This site is an opportunity for a savvy developer or investor to become involved from the outset, to help shape the future of the area and tap into the full capital upside potential,” Michael said.
“The Adamstown Renewal Corridor will more seamlessly link the commercial centres of the Nineways Broadmeadow with the Adamstown town centre, unlocking new economic and housing opportunities to meet our growing population needs.
“This site is ideally positioned to benefit from the investment in urban renewal, while already enjoying convenient existing links to schools, shops and public transport, including regular buses and the train station.
The total site area is 1,490sqm and it is zoned R4 High Density Residential. It could yield up to approximately 30 apartments, depending on size, design and mix.
Michael expects it to fetch $2.5 million-plus as part of a wide-reaching Expressions of Interest campaign.
“Being able to collaborate with Laing+Simmons Projects to bring opportunities like this to market has been a real benefit to us in joining the Laing+Simmons family,” he said.
“As a region, Newcastle is in the early stages of a long-term growth phase which will increasingly see new development opportunities and urban renewal projects become available.
“Being able to access the acquisition, planning, design and project marketing expertise of Laing+Simmons Projects provides a major advantage for our investor and development customers wanting to be part of the changing landscape in Newcastle.”
IMAGE | Laing+Simmons Adamstown site set to be a minefield for investors.
