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 September 2018, there were 27 sales at a total value of $80.7 million, compared to 23 sales at a total value of $27.8 million in the previous quarter, and also an increase from the 28 sales at $69 million in the quarter to March 2018. 

This latest data brings the total sales value in Newcastle Cityscope to $216.1 million for the year, a decrease from the $372.4 million recorded the same time last year. 
The table below shows sales recorded in the last eight updates of Newcastle Cityscope.

CoreLogic Newcastle Cityscope Sales Grid

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Notable sales in the September 2018 update of Newcastle Cityscope include:

  • Quest Newcastle West, at 787 Hunter Street, Newcastle West, comprising of several buildings in a complex of two, three and four-storeys which had been altered and added to for re-use as 47 serviced apartments in 2017 on a 5,597 sqm site, which sold for $16 million; 
  • The Honeysuckle Drive development site at 21 Honeysuckle Drive, Newcastle West, which was at deep excavation in September 2018 and will comprise of three buildings of part 2 to part 7 storey consisting of 154 residential units including 10 terrace style houses, 226 sqm ground floor retail and commercial space plus two levels of basement parking for 190 vehicles, which sold for $15.75 million and
  • A vacant land of 3,431 sqm at 386 King Street, Newcastle, which will be the future development site of Sky Residences, was sold for $14 million. 
CoreLogic Newcastle Sales Chart

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Properties listed as for sale in the September 2018 update of Newcastle Cityscope include:

  • 880 Hunter Street, Newcastle West, a single-storey brick shop, refurbished in late 2012 with a net lettable area of 417 sqm, available by expressions of interest through Starr Partners-Wickham; 
  • 625 Hunter Street, Newcastle West, a disused three-storey brick office building on a 521 sqm block, for auction on 20 September 2018 through Colliers International Newcastle; 
  • Frederick Ash Building at 357-361 Hunter Street, Newcastle, a four-storey brick office and retail building with some Romanesque features to its facade designed by Frederick B Menkens and built in 1905, for sale by expressions of interest closing 27 September 2018 through Colliers International Newcastle; and
  • Newcastle City Council City Administration Centre at 282 King Street, Newcastle, a circular eight-storey office building with mezzanine on a 2,600 sqm site which includes Wheeler Place, the lane that runs between Darby and Burwood Streets and most of Burwood Street, for sale by expressions of interest closing 27 September 2018 through Colliers International Newcastle.

 

Leasing opportunities in the September 2018 update of Newcastle Cityscope include:

  • Lot 8, 175 Scott Street, Newcastle West, Hunter Mall Chambers, a whole floor of 995 sqm commercial unit on level three, available for lease through Colliers International Newcastle; 
  • Frederick Ash Building at 357 Hunter Street, Newcastle, a four-storey brick office and retail building with a net lettable area of 1,271 sqm, available for lease through Colliers International Newcastle and  
  • 461 Hunter Street, Newcastle, a two-storey office building with a net lettable area 576 sqm, has retail and office space ranging from 139 to 543 sqm for lease through Knight Frank Newcastle.