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 June 2018, there were 23 sales at a total value of $27.7 million, compared to 28 sales at a total value of $69 million in the previous quarter, but an increase from the 17 sales at $35 million in the quarter to December 2017.
This latest data brings the total sales value in Newcastle Cityscope to $324.4 million for the year, an increase from the $226.6 million recorded the same time last year.
The table below shows sales recorded in the past eight updates of Newcastle Cityscope.
Notable sales in the June 2018 update of Newcastle Cityscope include:
- 643-651 Hunter Street, Newcastle West, vacant land of 2,082 sqm with development approval for the construction of a 14-storey mixed-use development comprising 128 residential units, commercial space of 702 sqm on ground floor and car parking on ground and levels 1 to 2 for 136 cars, which sold for $9.3 million;
- 12-16 Union Street, Newcastle West, a two-storey brick office building with loading dock to King Street on a block of 398 sqm, which sold for $2.4 million and
- 152-154 Darby Street, Cooks Hill, a two-storey brick commercial building with parking for four cars to the front and another four to the rear with a site area of 534 sqm, was bought for $1.85 million.
Properties listed as for sale in the June 2018 update of Newcastle Cityscope include:
- 130 Parry Street, Newcastle West a two-storey brick office building with customer parking to the rear on a block of 1,368 sqm, available through Colliers International Newcastle;
- Regal Motors, 910-932 Hunter Street, Newcastle, a car dealership incorporating a single-storey showroom building, two high-clearance single-storey showrooms, a large paved area for parking and the Dairy Farmers Building, a two-storey brick and render building and 4 Tighe Street, Newcastle, a high-clearance, single-storey workshop with raked roof, for sale together through Colliers International Newcastle and
- Lot 3 at 12-26 Throsby Street, Wickham, a 416-sqm retail unit, 124 sqm of parking, and a 28-sqm storage area, available at $2 million through Colliers International Newcastle.
- Leasing opportunities in the June 2018 update of Newcastle Cityscope include:
- 10-18 Honeysuckle Drive, Newcastle a ten-storey building comprising a 3-storey podium and a seven-storey commercial office, which has office space of 1,294 sqm for lease through Colliers International Newcastle;
- 150 King Street, Newcastle a three-storey office building, which has office space of 360 to 1,345 sqm for lease through Colliers International Newcastle and
- Life at Throsby, 12-26 Throsby Street, Wickham, a three-storey mixed use residential building, which has retail space of 400 to 568 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