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Overview
Situated in Newcastle's evolving inner-west suburb of Islington, 1B Islington Street is a development-approved site offering a strategic opportunity for investors and developers. With an approximate land area of 590.7 square meters, this site is part of the Islington Renewal Corridor which fosters urban growth and connectivity.
The approval granted by Newcastle City Council on 17 August 2023 permits the demolition of existing structures to make way for a contemporary three-story residential flat building. The development plan emphasizes inclusivity by accommodating six fully accessible Specialist Disability Accommodation (SDA) units, each thoughtfully designed to cater to two residents with high physical support needs.
This location benefits from proximity to Islington Park, offering a leafy outlook and access to vibrant retail and transport hubs, which enhance convenience and lifestyle options. The maximum building height is approved up to 8.5 meters, allowing for a three-story structure tailored to modern residential needs within a gentrified city fringe setting.
This property will appeal primarily to developers focusing on health/medical residential projects, disability accommodation providers, or investors looking to participate in a niche market within a rapidly evolving urban precinct. The site's connectivity and location within a council-designated renewal corridor position it well for potential growth and sustainable urban development.
Offered for sale by private treaty at $1,250,000 plus GST, this site represents a rare chance to engage in Newcastle’s dynamic property market with council-approved plans already in place, reducing the typical development risks associated with new projects.
Local Market Insights
In Newcastle And Lake Macquarie, Quiet Listings observed 33 new parcels of land entering the market over the last 30 days, down from 37 during the previous 30-day period, with an average advertised asking price of $1,803,724. The property type mix of listed properties is predominantly Houses at 68%, followed by apartments (8%), and land (6%). Ray White was the most active agency in this area, representing 24.1% 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.
Change History
| Headline | When |
|---|---|
| EOI | |
| For Sale By Private Treaty | $1,250,000 (plus GST) |
Location
Islington NSW 2296
