The heritage listed building, which sits waterfront at Honeysuckle, is owned by Hunter Development Corporation (HDC).

HDC chief executive Michael Cassel said the museum had an “important role to play in the community”. 

“The lease is due to expire in May. We are continuing to work with the Museum about this, but our shared focus is to ensure Newcastle’s proud seafaring past is not only retained but enhanced so that a greater number of people can access it, appreciate it and learn from it.”

Newcastle Maritime Museum president Ian Jones said the time was right to evaluate the future direction of the museum and its collection. It has more than 7000 items in its possession. 

“The significant volume of artifacts is our number one priority and we welcome this opportunity to work towards a secure future,” Mr Jones said. 

“We are a volunteer organisation and it’s a tough job to keep the museum open and available for the community, and from time to time we need some help.”

Newcastle City Council CEO Jeremy Bath said the council was working in good faith to ensure the collection remains in Newcastle and in public hands.

“Discussions are ongoing at the moment regarding how council can better enhance the Maritime Museum’s collection,” Mr Bath said. 

“Our focus is on understanding the current status; how things are positioned and where there may be opportunity for Newcastle City Council to ensure the preservation of the Maritime Museum’s collection moving forward.

“It’s important to note that any future direction or changes haven’t been established yet, and would require the support of the elected council.”

HDC did not respond directly to questions about whether future plans included relocating the museum. The collection tells the story of the port and the role seafarers have played in Newcastle since 1804.