Occupiers trade Newcastle office/warehouse
Not for profit employment and skill trainer Novaskill has sold its west Newcastle headquarters with a 12 month leaseback.
The $5.2 million result for 148-150 Lambton Road, Broadmeadow, reflect a 7.5 per cent net passing yield.
The buyer, in the medical sector, plans to occupy; the building contains 1148 square metres configured as 12 tenancies – one fit out as a workshop, others for medical training. The offices are considered A-grade.
There are kitchens and bathrooms on both levels too and an elevator for disability access.
On 1012 sqm the property also has 14 car parks.
Commercial Collective’s Isaac Reville and Sarah Willcox were the agents.
Novaskill paid $1.15m in 2003.
It operates from eight other addresses.
Broadmeadow is about five kilometres from the CBD.
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