Around 80 hectares of Munibung Hill at 1A Raymond Street, Speers Point has been listed for sale

A Speers Point property of around 80 hectares of land at 1A Raymond Street is being marketed by Barry Price, Ray White Newcastle and Lake Macquarie, and John Parnham, of Ray White Commercial.

It has development application approval for 115 residential lots on a small part of the site, which is bordered by Boolaroo, Warners Bay and Macquarie Hills.

The landmark property has been held by its current owners for around 80 years and enjoys extensive views of Lake Macquarie and Mountt Sugarloaf.

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“It’s a very large piece of land and twice the size of most of the suburbs around it," Mr Price said. “It’s got some outstanding lake views from many many places and is 800 metres from the shores of Lake Macquarie."

It is being sold through a tender process closing April 12 with keen developer interest expected.

A price guide has not been disclosed due to its nature of being "such a big piece of land with so many different aspects to it".

Peter Macadam, of Colliers International, said there was "good scope" for a Denison Street property he is marketing in Newcastle West.

He is selling 27-29 Denison Street, which has a concept plan for 40 apartments. It is being sold through expressions of interest closing April 4 with interest expected around $1.25 million.

The property has a site area of around 668 square metres and a flexible B4 Mixed Use zoning. It includes a two-storey commercial building with showroom and office.

"It’s one of those sites that’s entry level to the CBD," Mr Macadam said. "You can operate your business from there or develop it or occupy your business there and hold and have the underlying fundamentals. I think with everything there - the interchange, development, the Property NSW office building, Gateway, council, the push to the west commercially - it has really good scope."

Colliers are also marketing a freestanding commercial building at Islington, leased to Countrytell Pty Limited until July 2022 with a five-year option, at 24 Maitland Road. It is set for auction on March 21 with a guide of around $1 million.