HUNTER Street’s iconic The Store building is up for sale, just days after the NSW government announced new design plans for the Wickham Transport interchange next door.
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Colliers International Newcastle has been appointed to sell the almost 12,000 square metre site, with the campaign starting last Monday in Australia and Asia.
The sale also includes the adjoining multi-storey car park.
The Store space has potential to be part of the state government’s interchange, providing potential space for off-street bus stops and car parking.
The building was previously owned by Con Constantine, who relinquished control to a mortgagee.
A Valuer-General’s assessment in July last year estimated the building to be worth $4.2million (for taxation purposes), while property experts value it closer to $12million.
Potential buyers have until September 11 to lodge initial expressions of interest.
Once the initial process is completed, Colliers plans to sit down with the top four or five bidders and go through a tender process.
