Jerry Schwartz to convert ex-Newcastle Post Office

The Newcastle Post Office, which has sat vacant for more than 10 years, will be repurposed into a hospitality centre and cultural venue following its recent sale to Jerry Schwartz for $3.5 million.

“You know what? I probably won’t (make any money from it)”, the Sydney developer told The Newcastle Herald.

“It’s a posterity thing that I would love to do because I have got quite a big foot-print in the Hunter,” he added.

“It’s just something I want to do, I think it would be a shame for the post office to be ruined and turned into some sort of money-making project”.

The basement level of the sandstone post office is now mooted to become an Aboriginal cultural centre.

The ground floor will be refitted as retail – to be targeted to wedding-focussed outlets (including a florist, photographers, and dress shop, suggested), while the top storey will be a function centre.

No application has been applied for .

Mr Schwartz missed out on buying the property in 2010 – his $3.3m offer not accepted, paving the way for the NSW government to acquire it (for $4.6m).

The Awabakal Land Council acquired it in 2014.

The vendor was represented by Colliers International’s Adam Leacy and Michael Chapman.

It was reported the asset was offered after the owner couldn’t raise the speculated $15m needed to restore it.

Nine months ago Mr Schwartz paid $65.25m for Phoenix Acres – the Vaucluse estate of Singapore- based businessman Chio Kiat Ow – a property built on what was years ago a park connected to a wharf and ferry service to Circular Quay.

The developer and cosmetic surgeon subsequently listed his outgoing family home, Loch Maree, also in the suburb, for $32m.

Mr Schwartz has for years been lobbying City of Sydney to convert a former monorail station outside his Rydges World Square in the city’s Liverpool Street as a boardroom and office.

Decommissioned five years ago, there are five vacant monorail stations in Sydney’s CBD.

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Marc Pallisco

A freelance property writer and experienced analyst, Marc is the co-founder of