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.
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.
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.