42 Mitchell Street

For Sale $2,500,000


Property Features

Property ID: 3390049

Council Rates
$1888 per year
Water Rates
$3096 per year
Land Size
354.00 m2

STOCKTON LODGE Outstanding Coastal Lifestyle or Investment Opportunity

Located in the quiet coastal town of Stockton, this ultra modern new guest house presents an outstanding lifestyle opportunity for owner occupiers or delivers a sound return for investors with great cash flow and solid depreciation benefits. Showcasing nine guest rooms with private ensuites, a top floor managers residence and a commercial sized kitchen merging seamlessly with a rooftop alfresco terrace, this development has been faultlessly finished with no expense spared. Currently used as short term accommodation with a minimum 3 month stay, it could easily be utilised as a hotel/Airbnb with Council approval, as it has the correct zoning. Adding further weight is the inclusion of a buzzing ground level coffee shop, 5 undercover carparks and an internal lift. Positioned in the popular main Street amongst retail stores, pubs and the local IGA, it's also an approx 5 minute walk to the Ferry Wharf that takes you to the heart of Newcastle's CBD.

* New three storey accommodation house finished to an impeccable standard.
* Nine studio's with ensuites, all modernly appointed and with slightly varying layouts.
* One bedroom manager's residence with full kitchen, bathroom, office space and balcony
* Well equipped guest kitchen with individual fridges and cupboards plus full use of premium appliances.
* Stunning rooftop terrace catching a full sweep of district views and glimpses of the Pacific Ocean.
* Internal lift plus five covered car parks located on the ground floor, great for extra revenue.
* Shared laundry facilities with a coin operated washing machine and clothes dryer.
* Includes a thriving coffee shop that's popular with locals and visitors, currently leased.
* Walk to uncrowded beaches, the Ferry Wharf, local shops, corner pubs and supermarket.

Council Rates: $1,888 PA approx
Water Rates: $3,096 + Usage PA approx

Property Tools