The latest research from Newcastle Cityscope shows commercial property sales in Newcastle’s CBD have increased in both number and value. In the quarter to March 2018, there were 27 sales at a total value of $60.1 million, compared to 17 sales at a total value of $35 million in the previous quarter, but a decrease from the 24 sales at $192.6 million in the quarter to September 2017.
This latest data brings the total sales value in Newcastle Cityscope to $327 million for the year, an increase from the $262.1 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 March 2018 update of Newcastle Cityscope include:
- Blackwoods, 16 Greenway Street, Wickham, a large complex of industrial and commercial buildings, comprising of a single-storey warehouse and single-storey office building, a paved yard used for parking and a single-storey factory and warehouse building on a site of 8,984 sqm, which sold for $15 million;
- 984-984B Hunter Street, Newcastle West, a single-storey former funeral home and a single-storey brick retail building with a large paved area used for parking to the rear on a site of 1,954 sqm, which sold for $5.225 million and
- Land contained in lot 2 of DP1219708 at 18 Honeysuckle Drive, Newcastle, comprising levels 1, ground and lower ground of the 7-storey residential building known as the Edition Apartments, was bought for $4.6 million.
Properties listed as for sale in the March 2018 update of Newcastle Cityscope include:
- 3 Tudor Street, Newcastle West, a two-storey office building with ground floor retail and a Victorian-style rendered brick building, formerly a Methodist Church, built in 1889, that is retained and in commercial use, are both available through Dowling Commercial - Hamilton;
- Melville, 368-370 King Street, Newcastle, a two-storey brick building of 400 sqm on a site of 214 sqm, available through Colliers International Newcastle and
- The former St Philip's Presbyterian Church at 48 Watt Street, Newcastle, a brick and stone Gothic style church, with a bell tower built circa 1905, available through Colliers International Newcastle.
Leasing opportunities in the March 2018 update of Newcastle Cityscope include:
- 69-75 Parry Street, Newcastle a two-storey warehouse with ground floor workshops, which has warehouse space of 1,000 to 2,100 sqm for lease through Knight Frank Newcastle;
- 259-263 King Street, Newcastle, a two-storey mixed use brick building, comprising ground floor offices with residential apartments above, which has office space of 200 to 713 sqm for lease through Colliers International Newcastle and
- 66 Hannell Street, Wickham, a 639 sqm, single-storey brick warehouse with an office and two loading docks, which is for lease through Colliers International 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