The property comprises a 4.171 hectare* site with potential residential development upside, strategically located on a key intersection between the Lochinvar and Anambah Urban Release Areas.
The site is currently zoned RU2 Rural Landscape, however is within a future investigation area and identified in the Hunter Regional Plan 2041. The property is currently improved with a brick veneer home, sheds, garage, stables and equine arena.
The population of the city is forecast to grow by an additional 54,800* residents, with an average annual growth rate of 2.4%* to home over 144,550 residents by 2041 (DPE 2022). The annualised growth rate from 2016-2021 was 2.7%*, compared to 1.0% for the Newcastle LGA and 1.3%* for the Hunter Region.
There has been a spike in pricing within the Maitland LGA over 2022 and 2023 due to increased net migration to regional markets post Covid-19, with our research indicating that serviced residential land in the western corridor of the Maitland LGA had a compound annual growth rate (CAGR) of 10.15%* from 2015–2023.
The property is For Sale by Expressions of Interest closing Thursday 9 May 2024 at 4pm (AEST).
For more information, please contact Peter Macadam or Ben Robinson.
*Approximate.
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