OFF MARKET

41/575 Hunter Street
Newcastle West NSW 2302

Bedrooms: 2
Bathrooms: 2
Car spaces: 1
Floor area: 82m2
Land area: 2740m2
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Property Details for 41/575 Hunter St, Newcastle West

41/575 Hunter St, Newcastle West is a 2 bedroom, 2 bathroom Unit with 1 parking spaces and was built in 2000. The property has a land size of 2740m2 and floor size of 82m2. While the property is not currently for sale or for rent, it was last sold in March 2018.

Building Type
Unit
Year Built
2000
Floor Size
82m2
Land Size
2740m2
Local Government
Newcastle
Lot/Plan
41/SP62883

Last Listing description (June 2024)

The Quest apartments are in the heart of the Newcastle West CBD. Known for the inherent location and the convenient facilities within the building, this apartment is the ideal inner-city investment with a long term lease agreement in place with The Quest.

The property is within walking distance to a selection of restaurants, cafes and bars. A short walk across the old rail corridor and you are at Honeysuckle which is host to several of Newcastle's favourite bars and restaurants. A couple of minutes' walk to the East is Newcastle University which is rapidly growing and will bring students and staff into the city to live.

Marketown Shopping Centre is a minute to the South as is Number One Sports complex with junior and senior fields. Public transport is at your front door and links you with the major shopping centres such as Westfield and Charlestown Square. The property is a short cycle from all of Newcastle's Beaches (Approx. 5 minutes). The location is a key feature.

The internal features include;

- Open plan kitchen, living and dining.
- Main bedroom with built in robe and ensuite bathroom.
- Second bedroom with built in robe.
- Main bathroom with shower, toilet and laundry.
- Well-appointed kitchen with oven-cooktop, range hood and dishwasher.
- North-facing balcony with views to the East.
- 136m2 floor plan.
- Split-system air conditioning.
- Common area includes pool, gym and spa facilities.
- Lease agreement in place with The Quest until June 2020 - $495 per week.
- 4% annual increase on rental income (On current lease)
- 2 x 5 year lease options remaining with The Quest (Options favouring The Quest)

Fantastic in both location and design, this apartment is an ideal inner-city investment.

Strata Rates: Approx. $916.05 p/q ($711.60 paid by The Quest - Admin Fund)($204.45 paid by the owner - Capital Works)
Council Rates: Approx. $284.00 p/q (Can claim 50% back from The Quest on the current lease agreement)

Currently leased to The Quest - Long Term Lease Agreement

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Property History for 41/575 Hunter St, Newcastle West, NSW 2302

A timeline of how this property has performed in the market
Last Sold
$520,000
05 Mar 2018
  • 28 Mar 2022
    Listed for Sale RECENT SALES
  • 05 Mar 2018
    Sold for $520,000
  • 16 Jan 2018
    Listed for Sale Not Disclosed
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About Newcastle West 2302

The size of Newcastle West is approximately 0.8 square kilometres. It has 5 parks covering nearly 31.8% of total area. The population of Newcastle West in 2011 was 593 people. By 2016 the population was 619 showing a population growth of 4.4% in the area during that time. The predominant age group in Newcastle West is 20-29 years. Households in Newcastle West are primarily childless couples and are likely to be repaying $1400 - $1799 per month on mortgage repayments. In general, people in Newcastle West work in a professional occupation. In 2011, 36% of the homes in Newcastle West were owner-occupied compared with 35.9% in 2016..

Newcastle West has 1,818 properties. Over the last 5 years, Houses in Newcastle West have seen a 61.50% increase in median value, while Units have seen a 36.94% increase. As at 31 July 2024:

  • The median value for Houses in Newcastle West is $1,371,360 while the median value for Units is $752,511.
  • Houses have a median rent of $475 while Units have a median rent of $620.
There are currently 17 properties listed for sale, and 1 property listed for rent in Newcastle west on OnTheHouse. According to CoreLogic's data, 74 properties were sold in the past 12 months in Newcastle west.

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