Commercial Market Update – Newcastle Cityscope

The latest research from Newcastle Cityscope shows commercial property sales in Newcastle’s CBD are down in number but up in total value. In the quarter to June 2016, there were 16 sales at a total value of $75.4 million, compared to 24 sales at a total value of $40.4 million in the previous quarter, and 18 sales at $72.1 million in the quarter to December 2015. This is repeated in the yearly figures, with 80 sales at a total value of $220.1 million in the twelve months to June 2016, compared to 84 sales at a total value of $142.3 million in the previous year.

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

Pulse - NCSalesGrid

Notable sales in the June 2016 update of Newcastle Cityscope include:

  • A nine storey office building with basement parking for 64 vehicles at 266 King Street, Newcastle, which sold for $56.73 million;
  • The Lucky Hotel, a three storey building with a 600-sqm restaurant and 40 guestrooms at 237-241 Hunter Street, Newcastle, which sold for $7.32 million; and
  • Three two storey buildings with retail on the ground floor at 104 Darby Street, Cooks Hill, 106 Darby Street, Cooks Hill, and 108 Darby Street, Cooks Hill, which were sold for $1.75 million.

Newcastle Cityscope Quarterly Sales

Properties listed as for sale in the June 2016 update of Newcastle Cityscope include:

  • A four storey office building with 12 parking spaces to the rear and a net lettable area of 1,180 sqm at 169-173 King Street, Newcastle, available through Raine & Horne Commercial Newcastle; and
  • A two storey office building at 444-448 Hunter Street, Newcastle, through Raine & Horne Commercial Newcastle.

Leasing opportunities in the June 2016 update of Newcastle Cityscope include:

  • A nine storey office building with basement parking for 64 vehicles at 266 King Street, Newcastle, which has office space of 1,657 to 3,314 sqm for lease through Colliers International Newcastle;
  • A six storey, A-grade office building with retail and parking on the ground floor at 24 Honeysuckle Drive, Newcastle West, which has office space of 498 to 2,324 sqm on levels 4 and 5 through Colliers International Newcastle; and
  • A pair of connected four storey office buildings with basement parking at 51-55 Bolton Street, Newcastle, which has office space of 998 sqm through Braddan Real Estate.

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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Source: CoreLogic Feed

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