BY OLIVIA GOELDNER
Plans to turn the historic Cambridge Hotel in Newcastle West into a 19-storey student accommodation tower have been scrapped.
It is alleged financial pressures, alongside other competing student accommodation developments, pushed French-owned company LinkCity to forego the $110 million dollar plan.
The 12,000 square metre venue shut its doors in June last year, ending its 65 year long stint as a hub for live music in Newcastle.
Now listed on the market with a price guide upwards of $10 million dollars, there is hope it could be resurrected for use in hospitality.
Listing agent Adam Leacy, from Commercial Collective, says a new addition of poker machines to the venues licensing is making it more desirable than ever.
"It certainly brings that hospitality aspect back to the table, for a venue that size and the nature of the business, certainly gaming adds another level of security to the possibility of making it a sustainable business."
This is the third time Adam Leacy has marketed the property in five years.
