653 and 7/850 Hunter Street offices for sale from $500,000

Altim Property submitted its development application for the Swift on Hunter project at 653 Hunter Street earlier this year, with final approval expected this month.

Pending approval, the multi-storey strata development will begin construction early next year, and be completed in the third quarter of 2023.

Suites range from 51 square metres to 196 square metres and come with allocated parking.

A quarter of the 31 suites have already sold, including a recent sale of $2,325,000 to a local buyer.

RELATED: Mayfield becomes certified member of $1 million club

The tiny Newcastle town where houses sell for $1 million-plus

Hamilton Christmas lights home sells for record price

Commercial Collective's Matt Kearney said the project offered a uniquely affordable investment.

"It's a great alternative to residential investment because they're priced at $500,000," he said.

"That's very much an entry level price these days for real estate of any description - a lot of blocks of land are heading towards that price tag.

"The location is key because you sit between Honeysuckle and Marketown."

Two kilometres up the road, Movable's Steve Dick is marketing a 138 square metre office space at 7/850 Hunter Street.

Much has changed since the property last sold in 2014.

A glass tower of government offices now sits behind, while the $200 million Store Residences development at 854 Hunter Street is set to transform the area even further.

Offers are expected to start at $600,000 for a corner block property Mr Dick labelled as "a beauty".

"It was a derelict laneway next to the derelict Store building that was in front of a condemned car park," Mr Dick said.

"Now you see [pictures of] The Store apartments and you see this little strata suite in the bottom corner there right underneath.

"You've got the government office building, transport interchange, a major carpark and they're going to have these huge residential towers beside them."

Mr Dick said the space lended itself to a small consultancy or a business servicing government departments.

IN THE NEWS