14 Sunderland Street Mayfield, NSW 2304

Positioned in one of Newcastle's fastest-growing suburbs, this exceptional Mayfield site presents a rare DA-approved development opportunity tailored for immediate action and strong future returns. Zoned R3 - medium density residential & situated on approximately 1,033m2 of land with rear lane access for additional convenience. The site currently contains a vacant, uninhabitable building along with an oversized double garage.

With development consent already secured for a 26 room Co-living building, the groundwork has been done - allowing savvy developers and investors to bypass lengthy approval timeframes and move straight to delivery.

The approved scheme capitalises on favourable planning provisions under the NSW Housing SEPP, which encourages well-located, higher-density accommodation close to transport and amenities, often with flexible design standards and reduced parking requirements. This makes Mayfield- just minutes to the CBD, university, and transport corridors - an ideal setting for this style of development. The policy permits up to 4 storeys which could allow for 45 co-living units - subject to council approval.

Set on a strategically located parcel within a thriving urban renewal pocket, the property offers the perfect blend of accessibility, lifestyle amenity, and investment fundamentals. With increasing demand for affordable and co-living accommodation, this project is poised to deliver strong rental yields and long-term growth potential.

Whether you're an experienced developer or investor looking to enter the co-living sector, or wanting to explore an alternate project for this block, this is an opportunity to secure a high-demand asset in a suburb on the rise.

Located just a 10 minute drive to Newcastle CBD, a short walk to Waratah train station and Mayfield shopping villages. Close proximity to great schools, Newcastle University, Newcastle TAFE and major hospitals.

Additional benefits of a co-living investment;

• Appeals to students, workers on short term stay, those seeking affordable housing.
• Multiple tenants - potential to generate more rent than a standard lease.
• Individual estimated rental return for a co-living studio is estimated $360 - $430 per week - dependent on car space or not.
• Potential returns up to $537,680 per annum *

Contact us to organise an inspection and for a copy of the information memorandum.

Tenders close 2pm Thursday 21st May 2026.

* Based off an estimated rental return in the current market, all rooms leased.

Disclaimer: We have obtained this property information from sources we believe to be reliable; however, we cannot guarantee its accuracy. Prospective buyers are advised to carry out their own investigations.