ONE of inner city Newcastle's landmark buildings is on the market.
The five-level property on the corner of 102 Hunter Street and Bolton Street is listed for sale via expressions of interest with Lee Follington at Ray White Newcastle.
The property's tenants include gastropub The Ship Inn on the ground floor which, in recent years, had previously operated as the popular Reserve Wine Bar and the ANZ Bank.
"It is a bit of a landmark in the CBD," Mr Follington said.
"It was originally built as a bank building and I think that is part of its appeal because it is a much-loved building for the current owners."
The sandstone building dates back to the 1920s, however, the site originally served as a hotel from 1848, also known as The Ship Inn, whose licensee was Newcastle's first mayor, James Hannell.
Over time the site evolved from a hospitality establishment into a purpose-built banking facility in a classical Inter-War Palazzo style.
The building includes the bank's original vault on the basement level which is now utilised as a cool room for the pub, according to the agent.
All of the office spaces on the upper levels are fully leased.
CoreLogic records show that the property was last sold in 2008 for $1.9 million.
Mr Follington said the listing had drawn a strong level of enquiry since hitting the market, with interest coming from investors in Newcastle, interstate and Sydney.
"A lot of those are looking at it for investment uses," he said.
"Others are exploring changes and upside potential, and a lot of them are just looking at retaining it as its existing use and considering upgrading the refitting some of the internal spaces down the track."
A price guide was not available.
"We are really being guided by the market for the pricing on this one," the agent said.
The property includes a lettable area of 900 square metres and has a net annual income of $197,000.
Expressions of interest will close on October 17 at 3pm.
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