6 March | news

The market cycles continue

As the perpetual property cycle continues, Newcastle revitalises with unprecedented economic investment into the region. On the coat tails of the residential upturn we are seeing strong demand for commercial and industrial investment. 

The recent NSW Business Chamber Report indicates Newcastle leads the state in business confidence. With confidence comes growth and the need for more space.

Newcastle’s unprecedented growth is as much physical as it is psychological. Smarter technologies are slowly redefining the way our region thinks. We’re progressing away from our industrial heritage and thinking about the bigger picture. Companies are adapting, driven by the advances in tech and the needs of a modern workforce.

A change in tenant expectations in the major capitals is driving new builds to incorporate agile workspaces, incredible end-of-trip facilities and wellness initiatives to increase productivity and employee satisfaction. Smart Building Technologies are improving efficiencies and reducing operating costs, lowering a company’s bottom line. For any new developments these items are no longer thought bubbles in the design stages, they are ‘must haves’. This type of future proofing is something we have taken very seriously when designing our new A-Grade commercial buildings Darby Plaza (Newcastle CBD) and Macquarie Tower (Charlestown). Both buildings will include all of these features and deliver outcomes for their tenants not seen in the region before.

Increasingly seen as an alternative to the overcrowding of our major cities, Newcastle’s physical growth is driving demand for services in Health, Education and Childcare. With suburbs expanding the need for convenience becomes a priority; proximity to supermarkets, service stations, retail and even hardware stores. Local councils are having to update existing public amenity as well as creating new amenity for a growing population.

2020 will be a huge year for GWH and for our clients. The growth in the region is being experienced across the whole breadth of our business. 

Commercially by mid 2020 we will have delivered; 98 place childcare in Morisset, a mixed use site with BP and Guzman y Gomez in Warners Bay, public amenity upgrades and a fire station in Karuah, Tyrepower retail outlet in Lisarow and a commercial office development in Lambton.

At 9 King Street Warners Bay we are well underway on our mixed use development. The site is anchored by a BP service station and Guzman y Gomez food outlet. It’s expected the buildings will be ready for fit-out by June. The site will also include two adjacent showrooms sized from 200m2 - 600m2. Both have incredible exposure and are now for lease, ready for occupation in July.

In growth suburbs like Morriset, demand for childcare is at an all-time high. Our site in Alliance Avenue is now anchored by The Hive Academy for a 98 place long day care centre. The site will also include a 650m2 commercial space available to lease suitable for a Gym or similar. Construction of the site will commence shortly ready for occupation by November.

With suburbs becoming urban hubs it’s imperative those hubs have modern facilities. Lambton is central to our two public hospitals and already hosts specialist medical practitioners. The location is ideal for expansion in those fields which is why we’re currently constructing a standalone two floor building in Grainger St, Lambton which will be available to occupy by mid-year.

With our region going from strength to strength so will our business. This is a massive start to the new decade for GWH and our pipeline for the rest of the year is very strong. 

For more information on commercial developments & builds contact;

Matt Waddell  | mw@gwh.com.au  | 0414 456 179

Jared Harris | jh@gwh.com.au  |  0490 710 380

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