The latest research from Newcastle Cityscope shows commercial property sales in Newcastle’s CBD have decreased in total sales value. For the quarter to March 2020, there were 27 sales at a total value of $28.6 million, compared to the 18 sales at a total value of $39.4 million in the previous quarter and the 20 sales at a total value of $89.6 million in the quarter to September 2019.
This latest data brings the total sales value in Newcastle Cityscope to $203.7 million for the year, an increase from the $184.6 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 2020 update of Newcastle Cityscope include:
- 55 Throsby Street, Wickham, two concrete, single-storey high-clearance warehouses and two loading docks, on a site of 1,410 sqm, which was sold for $2.4 million through Street Property Group Newcastle; and
- 9 Union Street, Wickham, currently a single-storey, high-clearance warehouse on a site of 1,297 sqm, which was sold as a development site for $2.2 million.
Properties listed as for sale in the March 2020 update of Newcastle Cityscope include:
- 275-279 King Street, Newcastle, a two-storey 1,838 sqm office building on a site of 1,247 sqm, for sale by auction through CBRE and Commercial Collective - Newcastle;
- Longworth House at 129-131 Scott Street, Newcastle, a decorative two-storey brick building, with a carved sandstone baroque facade, constructed in 1892, which is for sale through Commercial Collective – Newcastle; and
- 9 Darby Street, Newcastle, a single-storey brick building with a net lettable area of 540 sqm on a 556 sqm site, which is for sale by auction through Colliers International – Newcastle.
Leasing opportunities in the March 2020 update of Newcastle Cityscope include:
- 484 King Street, Newcastle West, a two-storey concrete commercial building with a central driveway providing access to parking for 17 vehicles to the rear, which has office of 966 sqm available through Colliers International – Newcastle;
- 130 Parry Street, Newcastle West, currently a two-storey brick office building with customer parking to the rear, which has two contiguous office floors of 1,120 sqm each in the proposed development for pre-lease through Colliers International - Newcastle; and
- 882-886 Hunter Street, Newcastle West, a one and two-storey brick warehouse with showroom to Hunter Street with a net lettable area of 586 sqm, which is available for lease through Commercial Collective – Newcastle.