Newcastle commercial property activity ticking over: Cityscope
The latest research from Newcastle Cityscope shows that commercial property sales have decreased in the three months to June 2015.
The most recent quarter had 25 sales at a total value of $22.2 million, as compared to 26 sales totalling $38 million in the three months to March 2015, though it is an increase from the 13 sales totalling $21.8 million for the quarter to December 2014.
This latest data brings the total sales value in Newcastle Cityscope to $142 million for the year, a decrease from the $151.3 million recorded the same time last year.
The table below shows sales recorded for the last eight updates of Newcastle Cityscope.
Notable sales in the June 2015 update of Newcastle Cityscope include:
- 464-470 King Street , Newcastle West, a two-storey office building and an adjoining single-storey brick commercial building with a net lettable area 3,626 sqm mas bought for $3.85 million.
- 48-50 Hunter Street, Newcastle, a five-storey rendered brick building commercial with classical facade detail, built circa 1926 was bought for $3.745 million.
The most notable property for sale in Newcastle Cityscope in the June 2015 update is:
- 11 Argyle Street, Newcastle, a six-storey building with 342 cars with two levels of office space and a total net lettable area 5,002 sqm is for sale by expression of interest closing 18 June 2015 through Knight Frank and CBRE.
Leasing opportunities listed in the June 2015 update of Newcastle Cityscope include:
- 150-162 Wharf Road, Newcastle, a three-storey ferry building and two-storey wharf building, has 3,000 sqm of retail space for lease in June 2015 through Colliers International Newcastle.
- A future development at 16-18a Honeysuckle Drive, Newcastle West has 7,000 sqm for lease in a future development on the site through Colliers International Newcastle.
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 and can be contacted here.