The latest research from Newcastle Cityscope shows commercial property sales in Newcastle’s CBD have decreased in both number and value. In the quarter to December 2017, there were 17 sales at a total value of $35 million, compared to 24 sales at a total value of $192.6 million in the previous quarter, and 24 sales at $39.2 million in the quarter to June 2017. This latest data brings the total sales value in Newcastle Cityscope to $306.4 million for the year, an increase from the $263 million recorded the same time last year.
The table below shows sales recorded in the last eight updates of Newcastle Cityscope.
Notable sales in the December 2017 update of Newcastle Cityscope include:
- The Ibis Hotel at 700 Hunter Street, Newcastle, a four-storey hotel with a central five-storey tower and a single-storey section to Hunter Street used as a cafe/restaurant, which sold for $10 million;
- 40 Railway Street, Wickham, a two-storey brick warehouse and office building on a site area of 8,218, 30 Railway Street, Wickham and a large single-storey warehouse, a two single-storey warehouse buildings, used mainly for parking, which sold together for $8.5 million through Colliers International – Newcastle and
- 5-7 Darby Street, Newcastle a single-storey brick building with mezzanine level on a site area of 1,491 sqm, which sold for $3.4 million.
Properties listed as for sale in the December 2017 update of Newcastle Cityscope include:
- 990-994 Hunter Street, Newcastle, a single-storey brick building with a showroom and two shops on a site area of 1,350 available as a development site through Knight Frank Newcastle;
- Hotel Delany, at 134-142 Darby Street, Newcastle, a two-storey rendered brick hotel built in 1920 with a two-storey extension on the southern side, available through Moore & Moore Real Estate and
- Macquarie House at 6-8 Church Street, Newcastle, a three-storey Victorian Italianate office building, constructed circa 1890 on a site area of 202 sqm, to be auctioned December 14th, 2017 through Colliers International Newcastle.
Leasing opportunities in the December 2017 update of Newcastle Cityscope include:
- CBC Chambers at 73-75 Hunter Street, Newcastle, a six-storey sandstone building with ground level retail and offices on the upper levels, which has restaurant space of 400 sqm for lease through Raine & Horne Commercial;
- 94-96 Parry Street, Newcastle West, a two-storey office building with parking at rear for 10 cars, which has office space of 910 sqm for lease through Walkom Real Estate – Newcastle and Colliers International Newcastle and
- Shop 2 at 22 National Park Street, Newcastle West, a retail unit comprising of 919 sqm on the ground floor and 298-sqm on the mezzanine level, which is for lease through Walkom Real Estate - Newcastle.
Cityscope covers 28 predominantly capital city CBD markets across Australia and New Zealand, providing a rich level of property level data including building attributes, tenancy detail, sales and ownership.For more information on Cityscope or any other CoreLogic products call 1300 734 318 or visit the website at www.corelogic.com.au/products/cityscope. Subscribe to the free Commercial Pulse eNewsletter Get the latest commercial news and sales data each week from our CoreLogic Commercial Pulse! Click here to subscribe