Iconic Post Office, Newcastle, NSW.

 

96 - 100 Hunter Street

 

Project Realisation:  $4m+

Sale Process:            Auction

CMF Appointment:   Sales & Marketing Agent

 

CMF were appointed as sales and marketing agent for what turned out to be a very important sale of a “well-loved” former Post Office Building in Newcastle’s CBD.

This historic property had formerly been disposed of by the NSW State Government, sold to a private developer who, because of the historical significance of the building and a massive public lobby to restrict development on the site had failed to meet public expectations as to the use of the site leaving it derelict for many years.

Eventually the owner was able to secure a D.A for the property as a pub and restaurant before offering it for sale by Auction.

With every newspaper and television organisation from Newcastle turning up to the auction bidders were dissuaded from bidding, not wishing to reveal themselves. The property was passed in.

Following weeks of further negotiation the property and eventually sold back to the NSW State Government following sign-off from the Minister and Director General of the Land and Property Management Authority (LPMA).

Subsequent to the purchase of the property and entirely due to the way that we conducted negotiations with the State Government, CMF was commissioned to undertake a scoping study on behalf of the LPMA to determine the optimal use of the site moving forward.