Commercial Market Update – Newcastle Cityscope

The latest research from Newcastle Cityscope shows that commercial property sales have increased in the three months to December 2015. The most recent quarter had 16 sales at a total value of $73.8 million, as compared to 21 sales totalling $30.4 million in the three months to September 2015 and 25 sales totalling $22.2 million for the quarter to June 2015. This latest data brings the total sales value in Newcastle Cityscope to $164.4 million for the year, an increase from the $144.8 million recorded the same time last year.

The table below shows sales recorded for the last eight updates of Newcastle Cityscope.

Newcastle Cityscope Quarterly Sales

Notable sales in the December 2015 update of Newcastle Cityscope include:

  • NIB House at 22 Honeysuckle Drive, Newcastle West, a six-storey, a-grade office building with ground floor retail space with a site area of 8,006 sqm, was bought for $50 million.
  • Hunter Street, Newcastle West, a privately owned road used as parking; The Store at 854-868 Hunter Street, Newcastle West, a large 3-storey emporium building with a rendered brick art deco façade with a site area of 7,607 sqm; Cooper Street, Newcastle West, a private road, linking Cooper Street and Beresford Street with a site area of 1,072 sqm and 41 Beresford Street, a four-storey car park, were bought together for over $11 million.

The most notable properties for sale in Newcastle Cityscope in the December 2015 update are:

  • Newcastle Beach YHA at 30 Pacific Street, Newcastle, a two-storey brick federation building with a site area of 1,060 sqm, is for sale through Colliers International Newcastle.
  • 37 Darby Street, Newcastle, a single-storey building with a site area of 217 sqm, is for sale through Knight Frank.
  • 12 Wickham Street, Wickham, a single-storey rendered brick office with a workshop and loading dock with a net lettable area of 327 sqm on a site area of 353 sqm, is for sale through Castle Property.

Newcastle Cityscope Quarterly Sales graph

Leasing opportunities listed in the December 2015 update of Newcastle Cityscope include:

  • Queens Wharf and Harbourview Function Centre at 150-162 Wharf Road, Newcastle, a three-storey wharf building, has retail and office space of 25 to 3,000 sqm for lease through Colliers International Newcastle.
  • 384 Hunter Street, Newcastle, a seven-storey office building with basement parking, has office space for lease of 265 to 555 sqm for lease through Colliers International 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 RP Data products call 1300 734 318 or visit the website at www.corelogic.com.au/products/cityscope.


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About Commercial Research

CoreLogic RP Data Commercial Cityscope is a web-based service. Access is sold by geographic regions (Cityscope areas). There are 25 geographic regions across Australia (three in New Zealand), clustered around the cities of Sydney, Melbourne, Brisbane, Adelaide, Perth, Canberra and Newcastle. Darwin and Hobart CBD centres aren’t covered. Cityscope Areas in NSW and QLD also include lease expiry data for the most complete commercial coverage available. For more information call 1300 734 318.

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