Development site in NSW's Hunter Valley sells for $5,225,000

A development site spanning nearly 80,000 sqm in the Hunter Valley region of New South Wales has been sold by Ray White Commercial for $5,225,000.

The property at 6 Wine Country Drive and 16 Dover Street, Nulkaba, near Cessnock has development approval for 178 individual retirement villas, a community centre and recreation areas but the new owner has other plans for the property, which selling agents Kristian Morris and Scott Timbrell didn’t disclose.

The site was sold on behalf of Sydney-based property developer Neil Wallace.

“I am delighted that it’s going to be an exciting development for the Cessnock LGA and I am looking forward to seeing it developed,” he said.

Timbrell said the newly built Hunter Expressway has significantly reduced travel time between Cessnock and Newcastle.

“The Nulkaba property benefits from both an established residential catchment area… It is also close to aged care communities, golf courses, wineries, restaurants as well as hospitals,” said Timbrell.