The latest research from Newcastle Cityscope shows commercial property sales in Newcastle’s CBD have decreased in total sales value. For the quarter to December 2019, there were 18 sales at a total value of $39.4 million, compared to the 20 sales at a total value of $89.6 million in the previous quarter and the 23 sales at a total value of $46.1 million in the quarter to June 2019.
This latest data brings the total sales value in Newcastle Cityscope to $226.2 million for the year, an increase from the $202.5 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 December 2019 update of Newcastle Cityscope include:
- A 75% interest in 47 Darby Street, Cooks Hill, a 3-storey office building of 2,547 sqm with a large yard and a single-storey building used for parking for 46 cars to the rear, which was changed hands for $8,325,000;
- The site for the future Darby Plaza development at 352 Hunter Street, Newcastle, a 2,142 sqm block of vacant sealed land with a single-storey substation on the southwestern side of the site, which was bought for $6 million and
- CBD Hotel at 465-571 Hunter Street, Newcastle, a one and two-storey hotel with a bar and restaurant, and parking for nine cars on a paved area to King Street, which was bought for $5.775 million.
Properties listed as for sale in the December 2019 update of Newcastle Cityscope include:
- 280 Hunter Street, Newcastle, a narrow piece of 4,127 sqm vacant land, named Rail Bridge Row, was for sale through Colliers International – Newcastle;
- 20 Denison Street, Newcastle West, a single-storey retail and industrial building comprising two showrooms and a workshop, with a net lettable area of 400 sqm on a site of 1,636 sqm, which is for sale through Dowling Commercial - Hamilton and
- 529 Hunter Street, Newcastle, a two-storey retail building of 502 sqm on a site of 289 sqm, which is for sale by auction through Commercial Collective - Newcastle.
Leasing opportunities in the December 2019 update of Newcastle Cityscope include:
- 69 Parry Street, Newcastle West, a two-storey building with office space on level one and warehouse space on ground floor, which has office space of up to 1,344 sqm available through Colliers International Newcastle ;
- 6 Newcomen Street, Newcastle, a 5-storey office building with facade refurbished in mid 2009, which has office space ranging from 339 sqm to 1,220 sqm available through Knight Frank Newcastle and
- 150 King Street, Newcastle, a 3-storey office building of 2,071 sqm, facade refurbished in mid 2018, which has office space ranging from 323 sqm to 1,013 sqm available through Colliers International Newcastle.