With cranes and scaffolding a common sight throughout the region, we’ve decided to put together some brief updates on a few developments popping up around Newcastle, Lake Macquarie and Maitland.
NEWCASTLE CBD AND SUBURBS
Hunter and King Street’s Sky Residences were officially launched in June, with 180 residences from $420,000 now on sale and construction beginning towards the end of this year. The East End Project is also making headway on Hunter Street, with stage one’s 212-apartment plan underway and stage two encompassing a further 124 apartments. Both stages are due for completion in 2020.
The suburbs are also on the rise, quite literally! Wickham is a hotspot for new apartments, with at least 10 residential developments in planning stages, underway or recently completed. Adamstown and Broadmeadow also have more than 300 new apartments in the works across various projects – Centrale and The Foundry are already on sale, with apartments starting at $460,000 and $385,000 respectively.
In the past financial year, Lake Macquarie has seen $1.16 billion worth of developments approved across more than 2000 applications. The largest of these are both currently under construction at Warners Bay: Water’s Edge and Shearwater, made up respectively of 110 and 120 one, two and three-bedroom apartments. Areas such as Charlestown aren’t far behind, with Highpoint‘s 68 apartments (starting at $385,000) due for completion in 2019.
Artist’s impression of the Water’s Edge development at Warners Bay, plus Lake Macquarie development application statistics. Image source: Newcastle Herald
Maitland isn’t being left behind in terms of growth, with the Stockland Green Hills redevelopment recently completed and a number of residential developments also in the works. Master-planned Chisholm community Harvest has recently been completed, and Lochinvar is set to experience a boom with plans for 5000 new homes, shopping and sporting facilities and a school. The number of dwellings in the Maitland LGA has been predicted to grow by 12,550 homes between 2016–2036.
If you’re interested in chatting about investment opportunities around Newcastle, Lake Macquarie or Maitland, get in touch with our Investment Services team today.