The latest research from Newcastle Cityscope shows commercial property sales in Newcastle’s CBD have increased in total sales value. For the quarter to March 2019, there were 15 sales at a total value of $40.7 million, compared to 17 sales at a total value of $25 million in the previous quarter, but a decrease from the 27 sales at $80.7 million in the quarter to September 2018.

This latest data brings the total sales value in Newcastle Cityscope to $174.2 million for the year, a decrease from the $337.2 million recorded the same time last year.

The table below shows sales recorded in the last eight updates of Newcastle Cityscope.

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Notable sales in the March 2019 update of Newcastle Cityscope include:

  • Properties at 4 Tighe Street, Newcastle West
    comprising of a high-clearance, single-storey workshop with raked rood on a 253 sqm site and 924 Hunter Street, Newcastle West, comprising of a single-storey showroom building, two high-clearance single-storey showrooms, a large paved area for parking and the old Dairy Farmers Building, a 2-storey brick and render building with a clock tower and a bottle-shaped window in its facade, built in 1938 on a 1,936 sqm, which sold together for $10.5 million through Colliers International Newcastle;
  • Vacant land of 8,546 sqm at 16 Honeysuckle Drive, Newcastle West
    which was sold for $8.9 million by The University of Newcastle and
  • Properties at 79 Railway Lane, Wickham
    A large single-storey corrugated-iron warehouse on a 2,584 site and 73 Railway Lane, Wickham (NC2.4), a fenced yard of 1,972 sqm, which sold together for $5.545 million.
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Properties listed as for sale in the March 2019 update of Newcastle Cityscope include:

  • Two parcels of vacant land at 27A Denison Street and 29 Denison Street for sale together with a single-storey brick retail building at 27 Denison Street in Wickham, by the administrators through Colliers International;
  • 43-43B Bolton Street, Newcastle
    A two-storey building with ground floor retail and office space on the first floor and a garage to King Street, for sale through Colliers International and
  • Unit 4 at 470-572 Hunter Street, Newcastle West
    A 127 sqm retail shop on the ground level, for sale through Walkom Real Estate.

Leasing opportunities in the March 2019 update of Newcastle Cityscope include:

  • 384 Hunter Street, Newcastle
    A seven-storey office building with basement parking, has office space ranging from 265 sqm, 437 sqm and 820 sqm available for lease through Colliers International Newcastle;
  • Building House, at 6 Newcomen Street, Newcastle
    A five-storey office building of which the facade was refurbished in mid-2009, has office space of 339 to 1,220 sqm available for lease through Knight Frank Newcastle and
  • Herald Apartments at 28-30 Bolton Street, Newcastle
    An eight-storey residential building with 121 units and three levels of basement parking with 161 bays completed in February 2019, and incorporating the existing 1858 four-storey sandstone commercial building to Bolton Street which was restored and refurbished early 2019, has office space ranging from 243 to 530 sqm for lease through Colliers International Newcastle.