Images and floorplans are provided for illustrative purposes and remain the property of their respective copyright owners.
Overview
This unique property at 7-9 Notley Street in North Lambton presents both an immediate residential income opportunity and a ready-to-develop parcel in a consistently sought-after area of Newcastle. Featuring an existing four-bedroom timber cottage at the front of the site, the home is currently tenanted, providing ongoing holding income for prospective buyers.
Beyond the existing residence, the site benefits from development approval for four contemporary townhouses at the rear. These townhouses have been thoughtfully envisioned with practical, modern living in mind, each offering three bedrooms, two bathrooms, a single garage, and ample private yard space. The design combines classic weatherboard and brick finishes with contemporary styling, making it appealing to first home buyers, growing families, and investors alike.
A particularly valuable aspect of the property is the flexibility it offers. Once the approved driveway access is constructed, the front residence at No.7 can be subdivided and sold independently, allowing developers or investors to maximize value through staged sales. Buyers should note responsibility for obtaining construction certificate approvals and associated subdivision expenses.
Situated on a quiet dead-end street within an established residential neighborhood, the location boasts convenient proximity to key local amenities, including the University of Newcastle, John Hunter Hospital, schools, shopping destinations, and major transport links. This fusion of steady rental income, promising development potential, and location strength makes this a rare opportunity in the North Lambton market.
- Offers immediate income with a tenanted four-bedroom timber cottage
- DA approval for four modern townhouses designed for everyday living
- Generous private yards and single garages for the townhouse designs
- Potential to subdivide and sell the front residence separately
- Quiet dead-end street location within an established community
- Close to major educational, health, shopping, and transport hubs
The property is suited for developers looking to capitalize on a ready-to-progress project, investors seeking rental yield combined with future capital growth, as well as first home buyers or families aiming for brand new townhouse living in a desirable locale. With such flexible options and development scope, it represents a compelling investment in a stable and accessible Newcastle suburb.
Local Market Insights
In North Lambton, Quiet Listings observed 8 new houses entering the market over the last 30 days, up from 7 during the previous 30-day period, with an average advertised asking price of $1,378,125. The property type mix of listed properties is predominantly Houses at 53%, followed by units (40%), and villas (7%). Elders Real Estate was the most active agency in this area, representing 26.7% of all new listings in the last 30 days. These insights are based on agencies currently monitored by Quiet Listings and are updated as the local market changes.
While every effort is made to ensure the accuracy and completeness of the property information provided, no guarantee is given. Buyers should independently verify all details, inclusions, availability, pricing, and other relevant information directly with the listing agent before relying on this information.
Location
North Lambton NSW 2299
Market Insights for North Lambton NSW 2299
Other properties in this postcode
