The latest research from Newcastle Cityscope shows commercial property sales in Newcastle’s CBD have increased in total sales value. For the quarter to September 2019, there were 20 sales at a total value of $89.6 million, compared to the 23 sales at a total value of $46.1 million in the previous quarter and an increase from the 15 sales at $40.7 million in the quarter to March 2019.
This latest data brings the total sales value in Newcastle Cityscope to $201.4 million for the year, a decrease from the $216.1 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 September 2019 update of Newcastle Cityscope include:
- 18 Honeysuckle Drive, Newcastle
An A-Grade 7-storey commercial office building with a net lettable area of 6,834 sqm including retail space on ground floor and car parking across ground, levels 1 and 2 for 193 vehicles, which was bought for $52.2 million on a yield of 6.20%;
- 35 Honeysuckle Drive, Newcastle West
A 5,191 sqm block of land with approval for two 8-storey buildings to be a mixed-use development comprising 92 apartments, 8 retail suites, a gym and two levels of basement parking for 190 vehicles, which was bought for $15.5 million and
- 5-7 Darby Street, Newcastle
A single-storey brick building with mezzanine on a 1,491 sqm site, which was bought for $4.3 million.
Properties listed as for sale in the September 2019 update of Newcastle Cityscope include:
- 116 Hunter Street, Newcastle
A four-level office building with ground floor retail space on a 601 sqm block of land, which is for sale through Four Walls Commercial;
- 5-7 Union Street, Newcastle West
A 380 sqm two-storey brick office building with retail space on ground floor, which is for sale through Colliers International Newcastle and
- 42 Union Street, Wickham
A two-storey office building with a loading dock and warehouse space on the ground floor and parking to the front, which is for sale through Raine & Horne Commercial Newcastle.
Leasing opportunities in the September 2019 update of Newcastle Cityscope include:
- 265 King Street, Newcastle
A three-storey brick building, which has office space of 898 sqm available through Knight Frank Newcastle;
- 130 Parry Street, Newcastle West
A two-storey brick office building with 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
- 4 Tighe Street, Newcastle West
A high-clearance, single-storey workshop with raked roof, which has warehouse area of 1,360 sqm available through Colliers International Newcastle.