Full-time For Publican Fulmer

Newcastle Herald

Saturday April 5, 2008

By SARAH-KATE SCICLUNA

FORMER Newcastle Knights half-back Steve Fulmer has listed his Abermain pub for sale for offers around $1.5 million through Darcy Real Estate's Rob Darcy.

The two-storey 1911-built Hotel Denman at 141 Cessnock Road, bought by Mr Fulmer three years ago, has eight poker machines, two bars, a beer garden and commercial kitchen with bistro. The upstairs level has seven rooms, ranging in size from one-bedders through to a family room.

There are also two guest bathrooms.

A private residence is also on the upper level and it has two bedrooms, a study, family room, kitchen and bathroom.

The current weekly turnover is just over $12,000 excluding accommodation and the bistro.

Mr Darcy said the pub was ideal for someone wanting to get into the industry.

"It's on one of the main roads leading into the vineyards. The poker machine entitlements are worth in excess of $1 million alone," he said.

Mr Fulmer said the pub used to be three storeys, but the top level was removed some time ago and turned into the facade of a house at Kurri Kurri.

He said he was selling because he wanted to spend more time on his Floraville acreage with his wife Donna and three children.

Centre for sale

BIDDING from $2 million is expected when the Telarah Shopping Centre goes to auction next month through Colliers International Newcastle's Adam Leacy.

Fully leased, 26-34 South Street is anchored by an IGA supermarket, hairdressing salon, bottle shop and takeaway store, combining to provide a rental income of $209,350 a year.

The bottle shop is on a five-year lease ending in November, 2011; the hairdresser a one-year lease ending in September, and the takeaway shop is on a three-year lease ending in June next year. IGA is on a five-year lease ending in October, 2011.

The four tenancies occupy about 1027 square metres.

The brick and iron building was constructed in the 1960s and extended and renovated in the early 1980s.

Being sold by a Melbourne investor, the shopping centre shares a common car park with a commercial suite occupied by a pharmacy and doctor's surgery.

The centre will be auctioned on Friday, May 9, at the Butler's Function Room, Newcastle.

Options aplenty

A FORMER Department of Housing residential site at Singleton has been listed for sale by tender through Ray White Commercial Newcastle's George Serghis.

Adjacent to McDonald's, the now-vacant 2-10 New England Highway 3378-square-metre site is zoned 2 urban residential. Mr Serghis said the zoning allowed the site to be redeveloped into a school, public utility, professional chambers or church.

He said a Singleton businessman was selling the site to offload assets.

Despite marketing not having officially begun, interest had been strong from fast-food outlets, land valuers and developers from the Hunter, Sydney and Moree, Mr Serghis said.

Tenders close on May 9.

Warehouse snapped up

A NEWCASTLE investor paid $550,000 for a brick warehouse at Wickham the day before its scheduled auction last Friday.

The Torrens-titled dual-tenanted 538-square-metre building returns $33,000 a year, a yield of 6 per cent, Colliers International Newcastle selling agent Byrne Tran said.

Zoned 3(d) commercial mixed use, it is occupied by graffiti removal business Graffiti X and creative design business Associatives Pty Ltd.

© 2008 Newcastle Herald

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