Historic Newcastle Education Campus Listed for Sale in Rare Development Opportunity
A major inner-city education campus in Newcastle has been placed on the market, described by selling agents as a "rare and compelling" opportunity for developers and investors. The Laman Street site, which has served as the home for Alesco College for more than twenty years, is now available for purchase through an expressions of interest process managed by Colliers.
Prime Location and Development Potential
The property spans an impressive 3028 square metres and is dominated by a distinctive two-storey federation-style building. Additional features include a freestanding multi-purpose hall and parking facilities for approximately twenty-five vehicles. The land is zoned for mixed-use development and benefits from a 30-metre height limit, offering significant flexibility for future projects.
Colliers director of investment services, Luke Rutledge, emphasised the unique nature of this offering. "This is a truly unique opportunity to acquire a piece of Newcastle's history while unlocking future value," Mr Rutledge stated. Prospective buyers will receive comprehensive details regarding heritage assessments, site surveys, and the full development potential of the property.
Strategic Decision by College Administration
The decision to sell the campus forms part of a broader strategic roadmap for Atwea College, the not-for-profit parent organisation of Alesco College. Helga Smit, CEO of Atwea College, explained that the sale aligns with the evolving requirements of students and educational programs.
"Proceeds from the sale will be reinvested into enhancing existing campuses and exploring new locations that better fit with current student needs," Ms Smit said. "This move represents a new chapter for Atwea College as we continue to evolve our educational footprint across the region."
Market Process and Timing
The expressions of interest campaign is scheduled to commence this month, with the property expected to attract significant attention from developers seeking prime inner-city opportunities. The combination of heritage character, central location, and flexible zoning creates a highly desirable development proposition in Newcastle's property market.
This sale marks a significant transition for a property that has been an educational institution for generations, now poised to potentially become part of Newcastle's future urban development landscape.
