The latest research from Newcastle Cityscope shows commercial property sales in Newcastle’s CBD have increased in total sales value. For the quarter to June 2019, there were 23 sales at a total value of $46.1 million, compared to 15 sales at a total value of $40.7 million in the previous quarter and an increase from the 17 sales at $25 million in the quarter to December 2018.

This latest data brings the total sales value in Newcastle Cityscope to $192.5 million for the year, a decrease from the $325.1 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 June 2019 update of Newcastle Cityscope include:

  • The Newcastle City Council City Administration Centre at 282 King Street, Newcastle, a circular eight-storey office building with a mezzanine built in the brutalist style in the 1970's with a building area of 4,376 sqm and a site area of 1,598 sqm, which sold for $16.5 million through Colliers International Newcastle;
  • The land found in lot 1 DP1224328 at 38 Hannell Street, Wickham, part of the Stella on Hannell development site, which was sold for $5 million through Walkom Real Estate - Newcastle and
  • 227 Hunter Street, Newcastle, a two-storey neoclassical brick building, once Bank Chambers, with a net lettable area of 1,785 sqm and a site area of 1,019 sqm, which sold $3.95 million through Colliers International Newcastle.

 

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Properties listed as for sale in the June 2019 update of Newcastle Cityscope include:

  • 18 Honeysuckle Drive, a 10-storey building of 6,834 sqm comprising a 3-storey podium and a 7-storey commercial office building, known as Eighteen Honeysuckle Drive, for sale through Colliers International;
  • Argyle House, 311 Wharf Road, Newcastle, a single-storey brick building, constructed circa 1859 with additions in 1903 and 1907 creating a complex of linked pavilions, for sale through Commercial Collective - Newcastle and
  • 47 Darby Street, Cooks Hill, a three-storey office building, formerly FM House, with a large yard and single-storey building used for parking to the rear and with a building area of 2,547 sqm and a site area of 3,566 sqm, for sale through Raine & Horne Commercial Newcastle.

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

  • Garden Court at 133-135 King Street, Newcastle, a four-storey office building with ground floor retail and parking for 81 cars, has office space of 2,205 sqm on levels 2 and 3 available for lease through Knight Frank Newcastle;
  • GHD Tower, at 24 Honeysuckle Drive, Newcastle West, a six-storey, A-grade office building with ground floor retail space and parking for 109 cars, has office space of 1,162 sqm available for lease through Knight Frank Newcastle and
  • The former Tower Cinemas at 183-185 King Street, Newcastle, a brick complex of three cinemas that were operated by Greater Union (Event Cinemas), has the whole building of 3,688 sqm available for lease through Colliers International Newcastle.