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Sold on 18 Sep 2024 for $620,000

52/575 Hunter Street
Newcastle West NSW 2302

Bedrooms: 3
Bathrooms: 2
Car spaces: 1
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Property Details for 52/575 Hunter St, Newcastle West

52/575 Hunter St, Newcastle West is a 3 bedroom, 2 bathroom Apartment with 1 parking spaces. While the property is not currently for sale or for rent, it was last sold in September 2024. There are other 3 bedroom Apartment sold in Newcastle West in the last 12 months.

Building Type
Apartment

Last Listing description (September 2024)

Welcome to The Quest Apartments in Newcastle West – an iconic hub for business executives visiting the city.

This property offers an impressive annual return of $33,754.56 (or $2,812.88 per month) with a lease agreement in place until December 2027, including 3 x 5-year renewal options. As the owner, you only pay a portion of the outgoings, responsible for capital works fees and council rates, while the tenant covers admin fees, water rates, electricity, and gas.

Located on the 7th floor, the spacious apartment features a central lounge room with split system air conditioning and large windows. Building amenities include an indoor pool, spa, and gym on the ground floor.

The north-facing apartment is filled with natural light throughout. All 3 bedrooms are generously sized with floor-to-ceiling wardrobes, while the large main bedroom boasts a private ensuite and stunning city skyline views. The fully equipped kitchen features an electric cooktop, oven, and ample storage. Additionally, the apartment includes a proper laundry room, a rare find in modern apartments.

Don't miss this opportunity to invest in one of Newcastle's most sought-after locations.

Property Information:
- This property offers an attractive return of $33, 754.56 p/a (or $2,812.88 per month).
- 3% annual increases.
- Current lease in place from December 2022 - December 2027.
- 3 x 5-year options to renew.
- Council Rates: $1,508 p/a (Paid by the Owner).
- Water Rates: Approx. $650 p/a (Paid by The Quest).
- Admin fund of $1,283.33 p/q paid by The Quest.
- Capital Works of $748.18 p/q paid the Owner.

Disclaimer:
All information provided by Wilton Lemke Stewart in the marketing of a property for sale or lease has been sourced from various third-party outlets that we deem reliable. Nonetheless, Wilton Lemke Stewart cannot ensure its absolute accuracy, and we bear no responsibility and disclaim all liability for any errors, omissions, inaccuracies, or misstatements in the information provided. Prospective buyers and tenants are encouraged to conduct their own due diligence and rely on their own investigations. All images, measurements, diagrams, renderings, and data are indicative and for illustrative purposes only, subject to potential changes.

Property History for 52/575 Hunter St, Newcastle West, NSW 2302

A timeline of how this property has performed in the market
Last Sold
$620,000
18 Sep 2024
  • 18 Sep 2024
    Sold for $620,000
  • 30 Jul 2024
    Listed for Sale Guide $620,000 - $660,000
  • 20 Apr 2021
    Sold for $600,000
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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 1,819 properties. Over the last 5 years, Houses in Newcastle West have seen a 64.30% increase in median value, while Units have seen a 30.24% increase. As at 30 November 2024:

  • The median value for Houses in Newcastle West is $1,410,139 while the median value for Units is $738,458.
  • Houses have a median rent of $518 while Units have a median rent of $650.
There are currently 10 properties listed for sale, and 4 properties listed for rent in Newcastle west on OnTheHouse. According to CoreLogic's data, 73 properties were sold in the past 12 months in Newcastle west.

Suburb Insights for Newcastle West 2302

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Nick Stewart
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James English
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Disclaimer
Whilst all reasonable effort is made to ensure the information in this publication is current, CoreLogic does not warrant the accuracy or completeness of the data and information contained in this publication and to the full extent not prohibited by law excludes all for any loss or damage arising in connection with the data and information contained in this publication.