Commercial Market Update – Newcastle Cityscope
The latest research from Newcastle Cityscope shows commercial property sales in Newcastle’s CBD have slightly decreased in both number and value. In the quarter to June 2017, there were 24 sales at a total value of $39.2 million, compared to 27 sales at a total value of $39.5 million in the previous quarter, and 31 sales at $102.4 million in the quarter to December 2016. This latest data brings the total sales value in Newcastle Cityscope to $225.1 million for the year, a slight decrease from the $228.8 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 2017 update of Newcastle Cityscope include:
- A five-storey rendered brick building with retail space on ground and offices on the upper levels at 50 Hunter Street, Newcastle, which sold for $9.75 million;
- A single-storey showroom and a workshop on a site of 2,605 sqm at 500 King Street, Newcastle West, which sold for $6 million;
- TSP Building at 169-173 King Street, Newcastle, a four-storey office building with building area of 1,180 sqm and 12 car spaces to the rear, which sold for $3 million.
Properties listed as for sale in the June 2017 update of Newcastle Cityscope include:
- A two-storey brick warehouse and office building on a site of 8,218 sqm at 40 Railway Street, Wickham, available through Colliers International Newcastle;
- Garden Court at 133-135 King Street, Newcastle, a four-storey office building with ground floor retail and a two-level parking station for 81 vehicles at rear, available through Colliers International Newcastle;
- Unit 3 of The Broadwalk East at 1 Honeysuckle Drive, Newcastle, a 523 sqm ground floor retail shop with a 29 sqm parking on basement level 1, available through Knight Frank Newcastle.
Leasing opportunities in the June 2017 update of Newcastle Cityscope include:
- A single-storey brick building at 9 Darby Street, Newcastle, which has office space of 50 to 884 sqm for lease through Colliers International Newcastle;
- Dangar House at 780 Hunter Street, Newcastle West, a two-storey concrete office building with parking for 10 cars, which has office space of 155 to 466 sqm for lease through Colliers International Newcastle;
- GIO Building at 400-412 Hunter Street, Newcastle, a six-storey office building with basement parking, which has office space of 310 to 725 sqm for lease through Raine & Horne Commercial Newcastle.
Commercial Research
Cityscope covers 28 predominantly capital city CBD markets across Australia and New Zealand, providing a rich level of property level data including building attributes, tenancy detail, sales and ownership.For more information on Cityscope or any other CoreLogic products call 1300 734 318 or visit the website at www.corelogic.com.au/products/cityscope.
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