53 Glebe RoadThe Junction NSW 2291
Property Details for 53 Glebe Rd, The Junction
Last Listing description (March 2021)
Occupying pride of place in one of the cities most sought after and tightly held locations this offering represents a rare opportunity for any commercial business in Newcastle.
Previously a long-term family business of 40 years, 53 Glebe Road resides in a commercial hot spot and is moments away from a variety of well know dining and shopping destinations.
Suitable for hospitality uses. Freestanding with easy access and drive through driveway, this property is situated on a corner block (Glebe Road and Watkins St) and has the potential for heavy foot traffic. Featuring glass windows around the entire corner which contribute to an enhanced patron experience, the site also contains separate male and female amenities/bathrooms and a variety of rooms which are wet-floor prepared.
With a total of 5 rooms, 53 Glebe Road is now ready for occupation.
Owner is currently upgrading electrical and external painting of existing premises.
Estimate Outgoings:
Newcastle Council Rates: $6,561.00
Hunter Water: $975.00 plus usage
Insurance: $4930.00
Land Value for Land Tax: $840,000
Total Outgoings Estimate: $12,466.00
Property History for 53 Glebe Rd, The Junction, NSW 2291
- 15 Mar 2021Sold for $2,500,000
- 10 Feb 2021Listed for Rent $95,000 / year
- 06 Feb 2018Sold for $2,010,000
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0About The Junction 2291
The size of The Junction is approximately 0.3 square kilometres. It has 1 park covering nearly 4.4% of total area. The population of The Junction in 2011 was 1,495 people. By 2016 the population was 1,048 showing a population decline of 29.9% in the area during that time. The predominant age group in The Junction is 20-29 years. Households in The Junction are primarily couples with children and are likely to be repaying $3000 - $3999 per month on mortgage repayments. In general, people in The Junction work in a professional occupation. In 2011, 50.1% of the homes in The Junction were owner-occupied compared with 57.9% in 2016.
The Junction has 715 properties. Over the last 5 years, Houses in The Junction have seen a 70.21% increase in median value, while Units have seen a 52.02% increase. As at 31 October 2024:
- The median value for Houses in The Junction is $1,876,291 while the median value for Units is $905,947.
- Houses have a median rent of $720 while Units have a median rent of $580.
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