A Newcastle developer has lodged plans for a luxury apartment complex overlooking the harbour.
Insurance company founder Philip Duncan plans to demolish one of his two glass office buildings in Wharf Road and build a six-storey apartment development with 20 three-bedroom units.
Mr Duncan, who founded Underwriting Agencies of Australia in 1972, paid $14.8 million for 237 Wharf Road in 2014, having snapped up the glass building next door the previous year for $22.5 million.
He also paid $22.5 million for an office building in Honeysuckle Drive in 2011.
Mr Duncan's development application says he plans to spend $39 million on the residential building, which will have some of the best harbour views in the city if it is approved.
Newcastle architects EJE designed the complex, which has a plunge pool, residents' gym, fire pits and a wine cellar.
Two penthouses with spas, fire pits and wraparound verandas occupy the top floor.
The site is next to the Crown Street light rail stop, 35 metres from the harbour and less than 100 metres from the Hunter Street Mall.
The proposed building will back on to a narrow strip of former heavy rail corridor land bought by City of Newcastle for $2 million in 2020.
The apartments will have balconies looking north over the water and south towards Scott Street and the mall.
The existing office building once housed Industrial Relations Commission, Fair Work Commission and Transport for NSW staff but is now vacant.
