Auction Location: The Arc, 45 Watt Street Newcastle. Just 700m from the lake foreshore and Belmont 16s sailing club, this bumper 3,117sqm under-capitalised block is packed with potential. Currently on site are two individual dwellings returning a combined $770 per week in rental income along with a disused tennis court and swimming pool. With an approximate 30.5m frontage and R2 Low Density Residential zoning, explore options to subdivide, rebuild or develop with a dual-occupancy or multiple dwellings, all subject to approval from Lake Macquarie Council. All around Belmont there are unlimited water activities including sailing and fishing, pristine uncrowded beaches and spectacular bushwalks as well as a myriad of clubs, bars and eateries in a vibrant day-night destination in which to live, relax and entertain. - Currently presents as a dual income investment - Front dwelling features three bedrooms and one bathroom returning $400 per week - Rear dwelling features four bedrooms and one bathroom returning $370 per week - 1500m from Belmont Public and Belmont High schools - 1.3km from shopping centre for everyday essentials, lakeside bars and dining - Stroll to the lake and 16ft sailing club - 30 minutes from Newcastle city centre, harbour and beaches This property is being sold under the revolutionary Friendly Auction System. An independent pest & building report is available on request at no charge to you. This is the type of report your solicitor would usually recommend purchasing before bidding at an auction or before making an unconditional offer prior to auction and are conducted by a panel of reputable companies. The companies have consented to friendly auction terms and will generally be happy to speak to you about your queries in reports and in most cases transfer the reports into your name if you are the successful buyer at auction or prior to auction: see each report for details. Flexible deposit and settlement conditions are also available by negotiation with the agent if required. Offers can also be made prior to auction and each offer will be assessed on its merits. In-rooms auction event scheduled at The Arc at Watt Street Commercial Centre (Cnr King and Watt St Newcastle). Bid and buy with confidence in this consumer driven, transparent auction system that was pioneered here in Newcastle but is now in use across Australia. We also have a downloadable guide available on our website. Outgoings: Council Rates: $2334.05 approx. per annum Water Rates: $753.35 approx. per annum Disclaimer: All information contained herein is gathered from sources we deem reliable. However, we cannot guarantee its accuracy and act as a messenger only in passing on the details. Interested parties should rely on their own enquiries. Some of our properties are marketed from time to time without price guide at the vendors request. This website may have filtered the property into a price bracket for website functionality purposes. Any personal information given to us during the course of the campaign will be kept on our database for follow up and to market other services and opportunities unless instructed in writing.