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.
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.
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.