Two residential developments worth a combined $15 million have entered the Newcastle market as project sales surge across the Hunter region.
PRDnationwide Newcastle and Lake Macquarie has been appointed exclusive sales and marketing agents to the projects: Civic Green in the CBD; and Shortland Terrace at Shortland.
Project marketing agent, Luke Murdoch, said Civic Green, the refit of an existing building on King Street, had attracted strong pre-launch interest from PRD’s database clients.
“People are attracted to the project’s character and the prized CBD location,” Luke said.
Located 100 metres from the new University of Newcastle campus, Civic Green will have one and two-bedroom apartments and involve the addition of an extra floor to the three-level structure.
Luke said Shortland Terrace’s eight townhouses would be aimed at investors wanting to capitalise on the Sandgate Road project’s proximity to the university’s Callaghan campus just 500 metres away.
“We are expecting strong investor interest given the consistent demand for student and staff accommodation in the area,” he continued.
The agency’s appointment to the developments comes as its project division’s new CBD display suite gains traction with prospective buyers.
PRDnationwide Newcastle and Lake Macquarie director Mark Kentwell said Newcastle New Projects’ display suite in Hunter Street was averaging 15-20 groups through the door each day since opening in June.
“The projects team is seeing a good mix of locals and visitors coming in, and the foot traffic is translating into sales,” Mark said.
“We’re getting great traction with the market as people use the suite as a resource not only for new projects across the region but also to familiarise themselves with what is happening in the CBD under the urban renewal strategy.”
Mark said developers were increasingly keen to refurbish or refit existing properties in the CBD.
“Rather than starting projects from scratch, some developers are realising the potential of existing city buildings and converting them into trendy apartments,” he continued.
“They’ve identified the demand for modern apartments within a character building in the city, and this approach also aligns well with the urban renewal process.”
Newcastle New Project’s CBD display suite is located at 113-145 Hunter St and is open daily.
An interactive mapping feature showcasing all current active projects in the CBD is being rolled out in the suite, which also provides details of the area’s urban redevelopment plans.
Image | Shopfront of Newcastle New Projects
PRDnationwide Newcastle & Lake Macquarie is a leading provider of real estate services including residential sales, property research, leasing, property management, as well as project marketing.