Malaysian developer <a href="https://www.apartments.com.au/developers/s-p-setia">SP Setia</a> is the latest to jump into St Leonards booming Transport Oriented Development precinct.

The developer, which has previously delivered Sapphire by the Gardens apartment development in Melbourne, identified the Atchison Street site in 2023. It filed a Scoping Report around 12 months ago, and now has revealed the designs for the new&nbsp;40-storey mixed-use tower.

The State Significant Development Application covers <a href="https://next-portal.urban.com.au/projects/14650/summary">20-22 Atchison Street</a>, a 1,374 sqm site positioned between St Leonards Station and the new Crows Nest Metro station.

Designed by <a href="https://www.apartments.com.au/architects/cox-architecture">COX Architecture</a>, the project would deliver 181 apartments, above a four-storey commercial podium, five basement levels, and new public domain works along Mitchell Street. The apartment mix comprises 35 one-bedroom apartments, 39 one-bedroom-plus-study apartments, 85 two-bedroom apartments, and 22 three-bedroom residences.

The proposal has been lodged as a shop-top housing development under the NSW Government’s TOD planning pathway, which allows increased density around key transport infrastructure. The site sits within the recently rezoned Crows Nest Accelerated TOD Precinct.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="b799673d-48e2-46b0-801a-0e33a9330100" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/atchinson%20site.png?VersionId=dPh0UfwfaHpbFL1R7H1cbZNbIW0CHbCC" />

SP Setia acquired the Atchison Street site as part of its continued expansion into the Australian apartment market. In comments made to City &amp; Country (The Edge Malaysia) in 2023, SP Setia President and CEO Datuk Choong Kai Wai described the acquisition as “a strategic move” aligned with the group’s post-pandemic market recovery strategy.

“Our target for this exceptional development is local and overseas buyers, including first-home buyers, downsizers and investors,” Choong said.

The tower has been designed as a slender vertical form rising from a mixed-use podium, with COX Architecture positioning the development as a response to the evolving St Leonards and Crows Nest skyline.

“The purpose of the project is to facilitate the delivery of high-quality housing at a strategically located site and deliver a built tower outcome that is consistent with the desired future character of St Leonards and aligns with the TOD controls,” the design report stated.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="b1a85eee-76f7-436c-a6da-73ba827b9b13" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/atchinson%20entry.png?VersionId=dA9jHGPMcm.dDbwk4QfxqWiY5bfh3UVt" />

The podium would incorporate retail uses fronting Atchison Street, commercial tenancies, landscaped communal areas, and pedestrian improvements along Mitchell Street. Vehicle access and loading would be consolidated via Atchison Lane.

Residents would have access to more than 665 sqm of communal indoor and outdoor spaces, while the development proposes 96 parking spaces across five basement levels.

The proposal also includes a commitment for 10 per cent of residential floor space to be allocated toward affordable housing through a monetary contribution.

COX said the tower form responds directly to the emerging high-density character of the precinct while seeking to maximise solar access, cross ventilation, and outlook from apartments.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="2163f85c-f63b-4be3-aafa-f8763976cec5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Article%20Feature%20Image%20%28Grid%29_5.png?VersionId=WiAmtIKJ6.ZQ41EtYEQ1fol7AeorKBlL" />

“The building is orientated towards north,” the Apartment Design Guide compliance report noted, adding that the tower’s slim form was driven by the constrained inner-urban site dimensions.

The design also incorporates landscaped setbacks and communal open space at podium level, intended to soften the interface with surrounding streets and improve pedestrian amenity.

The project adds to a growing wave of redevelopment proposals reshaping St Leonards and Crows Nest following the opening of the Sydney Metro City line and the NSW Government’s push for higher-density housing around major transport nodes.

Last week Stockland filed plans just down the road. They want to build a <a href="https://www.apartments.com.au/new-apartments/601-pacific-highway-st-leonards-nsw-2065">52-storey tower on Pacific Highway</a>.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-stockland-plans-52-storey-538-apartment-st-leonards-tower">First look: Stockland plans 52-storey, 538-apartment St Leonards tower&nbsp;</a>

Joel Robinson

First look: SP Setia targets St Leonards skyline with 40-storey TOD tower

<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a> has revealed plans for a new mixed-use tower at 10 Dangar Street, Wickham, advancing a proposal that would reshape the southern gateway to Newcastle’s city centre with one of the city’s tallest residential buildings.

The State Significant Development proposal, now on exhibition, seeks approval for a <a href="https://www.apartments.com.au/new-apartments/bowline-10-dangar-street-wickham-nsw-2293">43-storey tower</a> immediately adjacent to the Newcastle Interchange. The project would deliver around 200 apartments, including 42 affordable housing dwellings, alongside 99 co-living units, a 171-room hotel, retail space, and new public domain integrated through the site.

The scheme marks a significant escalation of plans previously approved for the site. Urban Property Group took over the prominent 2,904 sqm parcel, where excavation and demolition had already commenced under an earlier consent for a 14-storey mixed-use development.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="58a96dd9-407f-4d20-86b4-94e4bfeef74b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20podium.png?VersionId=LGlf08pdFGAZDzvx_CXC4XakHNZRuEE0" />

Designed by <a href="https://www.apartments.com.au/architects/sjb-architects">SJB</a>, the tower has been conceived as a landmark transit-oriented development anchored to the Newcastle Interchange precinct. The proposal includes 245 build-to-sell apartments across a mix of one, two, and three-bedroom residences, as well as two penthouses. Fifteen apartments and one operational unit are earmarked for NDIS housing. The co-living component would add a further 99 units, while the podium would accommodate retail uses and hotel facilities.

SJB said the site presents “a valuable opportunity to anchor the precinct by setting the standard for design, active ground planes and character at the key southern gateway.”

The architecture responds directly to the site’s position beside major transport infrastructure and within one of Newcastle’s fastest-evolving urban renewal precincts. The tower form sits above a sculpted podium designed to frame new public spaces, including a through-site pedestrian link connecting Station Street to Hannell Street, landscaped plazas, and activated retail edges.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="a7bd6ff0-f7db-4ce8-a6dc-ea56e72c6149" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20lanne.png?VersionId=xzf39VADyhj7zBQY2I9fx9vI62u2tuSb" />

The design report describes the project as part of the broader transition of Wickham into “a vibrant, high-quality mixed-use urban precinct” that leverages proximity to the station, open space, and regional connectivity.

A detailed public art strategy has also been prepared for the development. The strategy positions the project as “a transit-oriented development of state significance at the gateway to Newcastle’s city centre” and outlines a series of integrated artworks responding to Newcastle’s industrial and transport heritage.

Creative Road’s curatorial framework for the project, titled Unveil, draws on “stratified surfaces, carved volumes, and light-filled apertures” while referencing Newcastle’s transformation from an industrial city into a contemporary education and technology hub.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="77a882bb-14b1-4d28-99ff-9438e39508c0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20site.png?VersionId=cevgo_vN0eKPK78P8YcEu3mKPLkpFqE7" />

The proposal is being advanced through the NSW Housing Delivery Authority pathway after being declared State Significant Development in June 2025. The accompanying scoping report states the development aims to “maximise the site’s proximity to the Newcastle Interchange by delivering transit-oriented development” while increasing housing supply and affordable housing provision within the Newcastle LGA.

Urban Property Group’s plans align with the long-term strategic vision established under the Wickham Master Plan, which identified the interchange precinct as suitable for substantial uplift in height and density. The current proposal would significantly intensify that vision, positioning the tower among the tallest developments proposed for Newcastle.

The site sits immediately north of the Newcastle Interchange, bounded by Dangar Street, Hannell Street, and Charles Street. It is surrounded by a rapidly growing cluster of residential towers and mixed-use projects that have emerged following the completion of the light rail and transport interchange.

First look: Urban Property Group unveils Newcastle’s latest tower at Wickham interchange

Bottega House has completed settlement of a landmark riverfront site in Macquarie Street, St Lucia, representing its first major Brisbane development.&nbsp;

Positioned on the banks of the Brisbane River, the <a href="https://www.apartments.com.au/new-apartments/180-macquarie-street-st-lucia-qld-4067">premium site at 180 Macquarie Street</a> features uninterrupted river frontage in one of Brisbane’s most tightly held residential precincts.&nbsp;

The proposed development, currently under assessment with Brisbane City Council, has been designed by <a href="https://www.apartments.com.au/architects/plus-studio">Plus Studio</a> with interiors by <a href="https://www.apartments.com.au/interior-designers/mim-design">Mim Design</a> and will deliver a boutique collection of premium residences positioned specifically for owner occupiers and downsizers.&nbsp;

The residences are set to redefine luxury apartment living in the area, with a focus on architectural quality, refined finishes, landscape integration and elevated amenities including curated wellness facilities, resort-style pools and recreation spaces rarely seen in the local market.&nbsp;

Exclusive sales for the project will be led by Keenan &amp; Byrne, ahead of an anticipated launch later this year.&nbsp;

Bottega House Managing Director Nick Malloch said the project reflects the group’s ambition to deliver a highly curated residential offering within one of Brisbane’s most tightly held precincts.&nbsp;

“This is an incredibly rare riverfront opportunity and one we have approached with a long-term perspective,” Malloch said.&nbsp;

“Our vision from the outset was to create a boutique collection of residences that feel more like private homes than traditional apartments, with generous proportions, refined finishes and exceptional amenity throughout."

Malloch says there is a&nbsp;lack of premium owner-occupier stock of this quality in the market, particularly for downsizers wanting space, privacy and a true lifestyle offering without compromise.&nbsp;

"Demand is expected to be strong given the scarcity of premium riverfront opportunities of this nature within Brisbane’s inner-west."&nbsp;

Bottega House secures landmark riverfront site in St Lucia 

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The arrival of the first piling rig officially marks the commencement of construction at SIERA’s new beachside apartment development, Exhale, in Northcliffe.

<a href="https://www.apartments.com.au/new-apartments/exhale-surfers-paradise-8-enderley-avenue-surfers-paradise-qld-4217">Exhale</a>, a glass-encased tower featuring 54 large-scale apartments at 8 Enderley Avenue, is SIERA’s third Gold Coast development. It follows the recently completed PIPIS Bilinga beachfront project, which achieved suburb-record prices, and the soon-to-be-completed Chevron Island development, Tapestry.

[smartcode_project:default project_id=112661 project_image_fid=359603]

<a href="https://www.apartments.com.au/developers/siera">SIERA</a> Founder and Managing Director Brent Thompson said the arrival of the piling rig represented a significant milestone for the development, which is scheduled for completion in late 2028.

Over the next month, around 260 piles are expected to be installed as work progresses on the basement structure. The building is anticipated to rise above ground level early next year, before unveiling its sculptural glass curtain wall, developed in collaboration with specialist façade engineers.

“The façade was designed to maximise panoramic coastal views while creating a distinctive architectural identity,” Thompson said.

[smartcode_project:default project_id=112661 project_image_fid=355935]

Designed by BDA Architecture, Exhale will comprise just 54 two- and three-bedroom residences across 26 levels, a level of low-density living rarely delivered in this beachside pocket between Surfers Paradise and Broadbeach.

The project has been conceived as a resident-only building, with no short-stay accommodation permitted. SIERA says the model is intended to appeal to long-term owner-occupiers rather than transient holiday demand.

[smartcode_project:default project_id=112661 project_image_fid=361052]

Residences have been designed with large-format layouts and expansive glazing, with most apartments featuring more than 30 metres of glass frontage to maximise natural light and ocean views.

The amenity offering spans two levels and centres on wellness and lifestyle, including a heated magnesium pool, sauna, yoga and Pilates studio, gymnasium, private dining facilities, cinema lounge, and dedicated surfcraft storage.

[smartcode_project:default project_id=112661 project_image_fid=359607]

More than half of the apartments have already sold. SIERA has also opened a sales gallery for Exhale at its Chevron Island commercial premises, near its Tapestry tower and the site of its second Chevron Island apartment development, which is slated to launch in early 2027.
</section>
</section>

[smartcode_project_cta:default project_id=112661]

SIERA kicks off construction at Northcliffe tower Exhale

Local Little Bay residents, along with buyers from premium postcodes across Sydney’s affluent Eastern Suburbs, have dominated purchases in developer-builder Urban Property Group’s first Eastern Suburbs apartment development, <a href="https://www.apartments.com.au/new-apartments/este-little-bay-jennifer-street-little-bay-nsw-2036">ESTE Little Bay</a>.

The $250 million coastal project, one of the first new developments in the area in several years, has proven particularly popular with downsizers, especially those from Coogee and Bondi. One Double Bay downsizer paid $4.7 million for a four-bedroom penthouse, setting a new local apartment price record in the process.

Buyers have been attracted to the combination of coastal tranquillity, premium design and amenity-rich neighbourhood living. The walkable village setting, along with proximity to three of Sydney’s leading golf courses, New South Wales Golf Club, St Michael’s Golf Club and The Coast Golf Club, has also been a key drawcard.

[smartcode_project:default project_id=112343 project_image_fid=352689]

Built across two low-rise buildings designed by <a href="https://www.apartments.com.au/architects/hill-thalis-architecture-urban-projects-pty-ltd">Hill Thalis</a> and set along a lush, landscaped green spine, designed by leading landscape architect <a href="https://www.apartments.com.au/landscape-architect/arcadia-landscape-architecture">Arcadia</a>, ESTE Little Bay offers a collection of one, two, three and four-bedroom residences with interiors by Richards Stanisich.

<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a> Sales Director, Tom McIvor said the response to ESTE has been "nothing short of extraordinary."

“Buyers have been quick to recognise ESTE as a rare opportunity to invest in a coastal sanctuary that offers both seclusion and connectivity to the heart of Sydney,” McIvor said.

[smartcode_project:default project_id=112343 project_image_fid=352687]

<a href="https://www.apartments.com.au/project-marketer/srm-residential">SRM Residential</a> Senior Director, <a href="https://www.apartments.com.au/project-marketer/srm-residential">Clayton Ross</a> said the local market has responded incredibly well, driven by ESTE’s exceptional location and the rarity it offers.

“We’ve seen strong interest from a variety of buyer groups, all of whom are drawn to the exclusivity and quality of the build and construction by the 4.5-star iCIRT-rated builder / developer, Urban Property Group. There’s truly nothing else like it along Sydney’s coastline.”

[smartcode_project:default project_id=112343 project_image_fid=352690]

The project also includes robust buyer protections, including Resilience Insurance’s Latent Defects Insurance, providing 10 years of structural cover, and an independent iCIRT-rating of the developer.

“The iCIRT-rating adds another layer of confidence,” Ross added. “Buyers see it as a safeguard for their investment and their lifestyle.” A highlight of ESTE’s offering is its exclusive wellness amenities, including a heated rooftop infinity pool and outdoor heated spa, a state-of-the-art Technogym fitness centre, and a sauna.

<a href="https://www.apartments.com.au/new-apartments/este-little-bay-jennifer-street-little-bay-nsw-2036">ESTE Little Bay</a> is topped out and is on track to complete towards the end of 2026, with residents moving in before Christmas.

[smartcode_project_cta:default project_id=112343]

Eastern Suburbs buyers snap up ESTE Little Bay apartments

Newcastle

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The latest HTW report notes that Newcastle residential yields are in the 3.5% to 4.5% range - which they describe as exceedingly low.
The Herron Todd White report suggested investors were in such instances having an over-reliance on capital growth to keep their investment equation in balance.
"This is also likely to mean that unless rental rates start increasing again, values may have to correct themselves," it tipped.
The valuation firm Herron Todd White noted the recent rate rises by the banks did not come without warning.
"APRA has been making noises about the capital raising of lenders for some time" the HTW November report states.
"The general consensus appears to be that several markets are overheated and a correction could be a major economic issue for Australia.
"The recent move to increase the interest rate for investors has had the effect of subduing the ardour from some investors to portfolio build, likely the prime goal of the rise.
"While the actual increase itself is minor, the psychological effect is something more substantial.
"We have had a long sustained period of interest rate decreases."
The HTW report highlights that the last increase by the RBA dates back to November 2010 and since that time investors have seen capital values rise, rental rates rise and portfolio values increase with little to no effort.
"To suddenly see an interest rate increase is a fundamental shift in mindset that may rock a few and place on the back foot those investors who have leveraged their portfolios too high."
The report goes on to suggest that discussions with agents indicate that investor enquiry in the Hunter is waning slowly.
"Previously agents could sell investment stock to a list on a database without the irritating hard work that open homes and general listing duties generally require.
"Instead of setting a price on the off chance that someone takes the hook, prices now require a little bit of prep work prior to unleashing them on the market.
"One might say that purchasers are at that point where they are exercising a small, but increasing amount of power to be choosy. Are the days of the seller’s market over?
"We aren’t that keen to declare that statement fact yet, but fledgling signs are there, as if a tiny seedling is emerging in the first few days of spring from the damp, steaming ground.
"What could stop it? Why, your retired dad doing you a favour and attacking your weeds with Roundup TM of course.
"Nothing like dad maintaining a garden.
"Rental rates in the Hunter region have been stagnant for a period of time now, unless you are in an area impacted by mines where the rates have been falling for a number of years now", says the HTW November review.
"Rental rates are one side of the yield/value/income triangle."
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j.ballantyne1990-6AQqhLzZaK

Newcastle property investors having over-reliance on capital growth: HTW

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The Newcastle housing market has been described as peaking by Herron Todd White in its lastest property clock.
He are three samples. 
1. <a href="https://www.realestateview.com.au/Real-Estate/5-58a-smith-street-charlestown/Property-Details-sold-residential-9288174" target="_blank">5/58a Smith Street, CHARLESTOWN 2290</a> (above)
Sold for $272,000 in September.
The 968 sqm unit was sold for $272,000 after $260,000 hopes from selling agent Rodney Goodwin of PRD Nationwide.
The one bedroom, one bathroom property was last traded in 2012, selling for $230,000.
<img src="/images/2015/11/5/new2.jpg" alt="" width="530" height="353">
2. <a href="https://www.realestateview.com.au/Real-Estate/84-robert-street-wickham/Property-Details-sold-residential-9051904" target="_blank">84 Robert Street, WICKHAM 2293</a> (above)
Sold for $615,000 in July.
The property was listed with a guide price of $575,000. 
The residence was lasted traded in 2001 for $191,000.
The property was put up for rent in early in 2011 at $400 per week and increased to $425 per week when marketed for rent in late 2013.
<img src="/images/2015/11/5/cooks.jpg" alt="" width="522" height="348">
3. <a href="https://www.realestateview.com.au/Real-Estate/57-laman-street-cooks-hill/Property-Details-sold-residential-8651326" target="_blank">57 Laman Street, COOKS HILL 2300</a>
Sold for $620,000 in May. 
The renovated property was purchased for $310,000 in 2008 so has doubled in value over seven years.
The two bedroom, two bathroom home was listed with a price guide of over $575,000.
Newcastle houses are at the peak of the market, according to Herron Todd White's <a href="/news/sydney-and-melbourne-houses-at-peak-pricing-in-november-htw-property-clock">latest property clock</a>.
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Three signs the Newcastle housing market is hot

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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.
<a href="/images/2015/06/17/700_newcastle.jpg" target="_blank">Click to enlarge</a>
<a href="https://mail.privatemedia.com.au/owa/14.3.224.2/scripts/premium/redir.aspx?SURL=-k3jv6bUmFJ4Jj4DEQXoOPvso3n6aIlUWa2vPi1XVxNaiqcAvXbSCGgAdAB0AHAAOgAvAC8AYgBsAG8AZwAuAGMAbwByAGUAbABvAGcAaQBjAC4AYwBvAG0ALgBhAHUALwB3AHAALQBjAG8AbgB0AGUAbgB0AC8AdQBwAGwAbwBhAGQAcwAvADIAMAAxADUALwAwADYALwBQAHUAbABzAGUALQBOAEMAUwBhAGwAZQBzAEcAcgBpAGQALgBnAGkAZgA.&amp;URL=http%3a%2f%2fblog.corelogic.com.au%2fwp-content%2fuploads%2f2015%2f06%2fPulse-NCSalesGrid.gif" target="_blank" rel="wp-prettyPhoto[g4923]"><img class="aligncenter size-large wp-image-4924" src="https://blog.corelogic.com.au/wp-content/uploads/2015/06/Pulse-NCSalesGrid-580x309.gif" alt="Newcastle Cityscope Quarterly Sales" width="580" height="309"></a>
Notable sales in the June 2015 update of Newcastle Cityscope include:
<ul>
<li>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.</li>
<li>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.</li>
</ul>
The most notable property for sale in Newcastle Cityscope in the June 2015 update is:
<ul>
<li>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.</li>
</ul>
Leasing opportunities listed in the June 2015 update of Newcastle Cityscope include:
<ul>
<li>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.</li>
<li>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.</li>
</ul>
<a href="https://mail.privatemedia.com.au/owa/14.3.224.2/scripts/premium/redir.aspx?SURL=yf6zTID0UnPyHU9SYksHj0YWxK458vqMHcQn8lGhudVaiqcAvXbSCGgAdAB0AHAAOgAvAC8AYgBsAG8AZwAuAGMAbwByAGUAbABvAGcAaQBjAC4AYwBvAG0ALgBhAHUALwB3AHAALQBjAG8AbgB0AGUAbgB0AC8AdQBwAGwAbwBhAGQAcwAvADIAMAAxADUALwAwADYALwBQAHUAbABzAGUALQBOAEMAUwBhAGwAZQBzAEMAaABhAHIAdAAuAGcAaQBmAA..&amp;URL=http%3a%2f%2fblog.corelogic.com.au%2fwp-content%2fuploads%2f2015%2f06%2fPulse-NCSalesChart.gif" target="_blank" rel="wp-prettyPhoto[g4923]"><img class="aligncenter size-full wp-image-4925" src="https://blog.corelogic.com.au/wp-content/uploads/2015/06/Pulse-NCSalesChart.gif" alt="Newcastle Cityscope Quarterly Sales Graph" width="532" height="321"></a>
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 <a href="https://www.corelogic.com.au/products/cityscope" target="_blank">here</a>. <a href="https://mail.privatemedia.com.au/owa/14.3.224.2/scripts/premium/redir.aspx?SURL=_pCOyVu-2ro81S9Q6yyJCTaqjkAX_XG9zRjjfOFcAvdaiqcAvXbSCGgAdAB0AHAAOgAvAC8AdwB3AHcALgBjAG8AcgBlAGwAbwBnAGkAYwAuAGMAbwBtAC4AYQB1AC8AcAByAG8AZAB1AGMAdABzAC8AYwBpAHQAeQBzAGMAbwBwAGUA&amp;URL=http%3a%2f%2fwww.corelogic.com.au%2fproducts%2fcityscope" target="_blank" style="line-height: 1.3em;"> </a>
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jchancellor-FAypfDUnLy

Newcastle commercial property activity ticking over: Cityscope

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<div>The REINSW has noted a rise in vacancy rates in the NSW coastal regional city of Newcastle, up from 3.4 per cent to 4.6 per cent.</div>
<div>
 The Hunter also saw a rise from 3.1 per cent to 3.9 per cent, the April 2015 Real Estate Institute of New South Wales data revealed.</div>
<div> </div>
<div>It has been suggested the spike reflects unemployment rates of 8.4 per cent at Newcastle or even higher around the Hunter region at 11.8%, according to the ABS.</div>
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<div>
<h2>Unemployment Rates by Labour Force Region, April 2015 (15+) (%)</h2>
<div>
<table class="DataTable" border="1" rules="all" cellspacing="0"><tbody>
<tr>
<th scope="col">Labour Force Region</th>
<th scope="col">Unemployment Rate</th>
</tr>
<tr>
<td>Sydney - Northern Beaches</td>
<td>2.9</td>
</tr>
<tr>
<td>Sydney - North Sydney and Hornsby</td>
<td>3.6</td>
</tr>
<tr>
<td>Sydney - Sutherland</td>
<td>3.6</td>
</tr>
<tr>
<td>Sydney - Eastern Suburbs</td>
<td>3.7</td>
</tr>
<tr>
<td>Sydney - Baulkham Hills and Hawkesbury</td>
<td>4.2</td>
</tr>
<tr>
<td>Capital Region</td>
<td>4.5</td>
</tr>
<tr>
<td>Sydney - Inner West</td>
<td>4.6</td>
</tr>
<tr>
<td>Sydney - Outer West and Blue Mountains</td>
<td>5.3</td>
</tr>
<tr>
<td>Sydney - City and Inner South</td>
<td>5.5</td>
</tr>
<tr>
<td>Sydney - Parramatta</td>
<td>5.6</td>
</tr>
<tr>
<td>Far West and Orana</td>
<td>5.7</td>
</tr>
<tr>
<td>Central Coast</td>
<td>5.8</td>
</tr>
<tr>
<td>Riverina</td>
<td>5.8</td>
</tr>
<tr>
<td>Sydney - Outer South West</td>
<td>6.2</td>
</tr>
<tr>
<td>Sydney - Blacktown</td>
<td>6.4</td>
</tr>
<tr>
<td>Sydney - Ryde</td>
<td>6.5</td>
</tr>
<tr>
<td>Sydney - South West</td>
<td>7.0</td>
</tr>
<tr>
<td>Sydney - Inner South West</td>
<td>7.3</td>
</tr>
<tr>
<td>Coffs Harbour - Grafton</td>
<td>7.5</td>
</tr>
<tr>
<td>Mid North Coast</td>
<td>7.8</td>
</tr>
<tr>
<td>Central West</td>
<td>8.1</td>
</tr>
<tr>
<td>Illawarra</td>
<td>8.1</td>
</tr>
<tr>
<td>New England and North West</td>
<td>8.2</td>
</tr>
<tr>
<td>Murray</td>
<td>8.4</td>
</tr>
<tr>
<td>Newcastle and Lake Macquarie</td>
<td>8.4</td>
</tr>
<tr>
<td>Southern Highlands and Shoalhaven</td>
<td>8.7</td>
</tr>
<tr>
<td>Richmond - Tweed</td>
<td>8.8</td>
</tr>
<tr>
<td>Hunter Valley exc Newcastle</td>
<td>11.8</td>
</tr>
</tbody></table>
</div>
</div>
<div> </div>
<div>It is a lot tighter south of Sydney Wollongong saw vacancies rise 0.8 per cent in the month to 1.8 percent.
<div> </div>
<div>There was a 0.3 per cent increase in the Illawarra to 1.3 per cent.</div>
<div> </div>
<div>
<div>Sydney vacancy rates remained stable in April 2015, tightening in the inner and middle ring, but recording an increase in vacancy rates in the outer.
</div>
</div>
</div>
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Newcastle's worrying high rental vacancy rate: REINSW

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The Anglican Diocese of Newcastle has sold Bishopscourt on The Hill to a local purchaser.
The sale was negotiated by Scott Walkom and Kate Rundle of Walkom Real Estate with the Diocese confirming that the price achieved was in excess of the amount mentioned in recent media reports.
The church was reported as expecting to sell for more than $4.75 million. 
<a href="https://www.domain.com.au/for-sale/34-brown-street-newcastle-nsw-2300-2011896329" target="_blank" style="line-height: 1.3em;">The 4,130 square metre Brown Street property</a> housed the city’s successive Anglican bishops until current bishop Greg Thompson chose to reside elsewhere.
The seven bedroom, four bathroom 1929 Bishopscourt is not heritage listed but parts of its grounds are. 
Last year, the Anglican Synod gave the greenlight for the Newcastle sale to be considered. At the time Bishop Greg Thompson asked the Synod to consider “the economics of having this property, the suitability of it as the home of the Bishop and family, and the historic sentiment of previous bishops who lived within it.” 
The Diocesan Council and Trustees of Church Property approved the sale in March. The proceeds of the sale will go towards providing a residence for the Bishop of Newcastle and any additional funds will be invested to both look after that property and to assist with the costs of episcopal ministry in the Diocese.
<a href="/news/unsold-bishopscourt-darling-point-gets-eighth-archbishop-he-said-she-said">The Sydney Bishopscourt</a> failed to sell on its recent listing.
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Bishopscourt, Newcastle sold by Anglican Diocese

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The historic inner-city abode of former Newcastle Lord Mayor Jeff McCloy and wife Tracey has been sold for $2 million, having sought offers last month over $2 million.
The McCloys had it listed through <a href="https://www.realestateview.com.au/Real-Estate/church-street-the-hill/Property-Details-sold-residential-7722264" target="_blank">PRD Nationwide Newcastle agent Mark Kentwell</a>.
The five bedroom residence at 122 Church Street, The Hill cost $2.4 million in early 2008.
The move follows Jeff’s resignation as Lord Mayor in August.
“Now that Jeff is no longer serving as Mayor, the couple has no need for such a significant inner-city residence,” Mark Kentwell said during its marketing.
The Belmont-based McCloys purchased the 1880s property, known as Egmont House, as a second home in 2008, then engaging Suters Architects and Graph Building in 2009 to renovation the property which has water views.
It was built in 1880 for Harbour Master Captain David Joseph Williams.
The marketing material says the "tri-level residence melds historic charm with modern sophistication."
It comes with a lift, gym and home office and also has a semi-self contained section suitable for a live in nanny.
The property was offered to the market earlier this year with Walkom Real Estate seeking offers between $2.6 million and $3 million, but was withdrawn until the latest marketing campaign.
 
</body></html>

Former Newcastle Lord Mayor Jeff McCloy takes property loss on The Hill

<html><body>
Australia has one of the most residentially mobile populations of any country. This means we don't mind moving house.
Researchers refer to this as Net Internal Migration, or NIM. With so much attention focused on Sydney's hot property market and the rapid growth in the city's house prices recently, it is easy to see how regional migration starts, as people move from cities to regional areas.
We are already seeing many families priced out of Sydney looking for more value for their money. This migration pattern has been creeping up into the Central Coast and Newcastle over the past few months.
In fact, Newcastle experienced the second largest influx of domestic migrants between 2010 and 2011.
According to the Australian Bureau of Statistics, in the 2010-11 period Newcastle was second only to Perth in receiving the highest amount of people moving from other capital cities.
Newcastle was also the sixth highest net gainer of domestic migration as a percentage of its population between 2006 and 2011.
With Newcastle experiencing some of Sydney's spillover, there seems to be a local problem emerging.
Some Novocastrians are now looking to do the same and eyeing off other areas within the Hunter Region in which to start their families. A quick search online for houses for sale around $400,000 in Newcastle throws up a few apartments and small, unrenovated two bedroom homes on very small lots.  In Sydney of course, the pickings are much slimmer.
Rachael Brecht from Jurds Real Estate in Cessnock says: "We have been getting more enquiry from Newcastle and the Central Coast buyers. We even see some Tree Changers coming from Sydney. They are looking for good quality renovated houses with large backyards and good schools and good sporting and shopping facilities.  We have all this and more in Cessnock with the beautiful Hunter Valley vineyards and their world famous cafes and restaurants at our doorstep, we really do have lots to offer."
She's currently marketing a three bedroom house on 800 square metres of land, with a price guide of $399,000.
With the Hunter Expressway now offering quicker access, you can be in the Newcastle CBD within 50 minutes. Cessnock is a two hour drive from Sydney. There are good local employment opportunities, as in this city which has a population of over 54,000, there is a strong, diverse economy.  The health, tourism, retail, manufacturing (wine) and training and education industries are the <a href="https://economy.id.com.au/cessnock/Employment-census" target="_blank">highest employers in the area</a>. 
For buyers from Sydney or Newcastle a three bedroom house on 800sqm of land for $400,000 is very good value. When you combine the low interest rates we are experiencing now, then this may be a great way of getting ahead.
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jochivers-wq5Bp59R5a

The search widens for families priced out of cities

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The Hastings Funds Management syndicate has won the NSW state government tender for the Port of Newcastle.
It was announced by the NSW Premier Mike Baird who sought offers in his 2013 budget.
The Hastings partner, China Merchants Group, is <a href="https://wwwen.cmhk.com" target="_blank">a state owned corporation</a> of People's Republic of China.
The syndicate will pay $1.75 billion for the port, with the proceeds to split between the Restart NSW infrastructure fund and the Newcastle city centre redevelopment.
Five final bids were received for the Newcastle port, the world's largest coal terminal.
It has been forecast to have $69 million earnings before interest, tax, depreciation and amortisation in the 2013-14 financial year.
</body></html>

New NSW premier Mike Baird finds his Port of Newcastle buyer

<html><body>
The rejuvenation of Newcastle CBD, including works on the University of Newcastle’s $95 million campus, has caused a surge in buying activity in the area, according to PRDnationwide Newcastle and Lake Macquarie managing director, Mark Kentwell.
Kentwell noted that investors and first home buyers are among those interested in <a href="/news">Newcastle</a>, with activity higher in the past six months than it has been in a few years. This is <a href="/expert-insights/buying/hotspot-newcastle-tipped-for-strong-growth">not the first time Newcastle has been tipped for growth - being referred to as a hotspot in 2011</a>.
“The university, new courthouse and pending relocation of the rail are factors that have put Newcastle on the map for buyers and developers,” he said.
“After years of analysing the city, there is an acceptance now that residential is in demand and commercial will follow suit once there is a larger population in the city.”
The expectation is for more students and staff to live in the city from 2017, with out of town investors and SMSF investors active in off the plan sales.
“There is also heavy investment generally from non-local buyers as Newcastle’s growth potential becomes more apparent,” he said.
“We are witnessing strong buyer interest in any well-located quality project that comes to market.”
<blockquote>
“After years of analysing the city, there is an acceptance now that residential is in demand and commercial will follow suit once there is a larger population in the city.”
</blockquote>
Developers are also reacting to the growth in confidence.
“There are a lot of sites in the city that have been dormant and neglected over the years - they now have the opportunity to be brought back to life,” he said.
Image courtesy of Wikipedia/Creative Commons.
</body></html>

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