4 Pitt Street, Mayfield, NSW 2304

Knight Frank is pleased to present The Res Student Accommodation, 4 Pitt Street, Mayfield to the market For Sale. 

This exceedingly rare investment opportunity comprises a refurbished 46 room boarding house situated on a substantial 1,348 sqm* corner site, zoned R3 Medium Density Residential, within one of Newcastle's most tightly held inner-city residential suburbs. 

The property is fully leased to a single head lease tenant, providing investors with secure, passive income complemented by attractive inflation linked rental growth.

Key Investment Highlights:

- Fully leased 46 room boarding house investment
- $270,000* net income plus GST per annum
- Three (3) years remaining on the current lease term, expiring in March 2029, plus a five (5) year option to March 2034
- Secure, landlord-friendly single head lease providing passive, low management income
- Tenant responsible for all standard operating expenses 
- Comprehensive lease structure including redecoration and repair commitments  
- Annual rental reviews at the greater of 3% or CPI, ensuring consistent rental growth
- Refurbished accommodation with established occupancy rates 
- Substantial 1,348 sqm* corner landholding zoned R3 Medium Density Residential
- Strategic Newcastle CBD fringe location, close to the University of Newcastle, Newcastle CBD, John Hunter Hospital and major employment hubs
- Rare opportunity to acquire a single tenanted residential accommodation investment in a tightly held market
- Newcastle: A major regional commercial hub with the population forecast to grow 17% to 205,445* residents by 2046.
- A thriving visitor economy attracting more than 5 million visitors annually, generating approximately $3.16* billion in tourism expenditure and supporting almost 5,000 jobs.

Positioned within close proximity to the University of Newcastle, Newcastle CBD, John Hunter Hospital and the Mayfield retail precinct, the property is ideally placed to benefit from sustained accommodation demand and the continued growth of the Newcastle market.

For further information or to arrange an inspection, please contact the exclusive Knight Frank selling agents.

*Approximate.