commercial building newcastle
The building will feature 11,000sqm of office space. Image Supplied
  • 13-storey building is Newcastle’s largest commercial transaction to date
  • 11,000sqm of commercial space for up to 1000 employees
  • Newcastle is the strongest performing non-metropolitan office market in Australia

Newcastle’s West End is set to be transferred into an A-Grade commercial business centre with a $107 million project responding to the city’s growing market.

Set to be the largest commercial transaction to date in Newcastle, HG 727 in Hunter Street will be developed by HYG, Newcastle’s Core Project Group (CPG) and PDS Group’s NSW office.

11,000sqm of commercial space across thirteen-storeys will be offered for up to 1000 employees, which will make it the tallest building in Newcastle upon completionion.

HYG’s Tony Zhang is excited about bringing an innovative A-Grade commercial building to the second-largest city in New South Wales.

“At HYG, we have a desire for architectural excellence and this goal remains steadfast for the HQ 727 project, which features elegant yet functional features including a rooftop terrace set to inspire and premium end of trip facilities to cater for active lifestyles,” said Mr Zhang.

“We believe that there is a significant demand for quality office stock in Newcastle to support the ongoing growth of local businesses and the economy.”

According to the Property Council of Australia’s Office Market Report, Newcastle has a 3.1% vacancy rate in the A grade office market –  the strongest non-metropolitan office market nationally.

CPG during the past ten years has delivered around 100,000sqm of gross floor area to Newcastle West, with the asset value of this just shy of $400 million.

Newcastle development site
Jeff Curnow, Property Development Solutions; Tony Zhang, HYG; Lord Mayor of Newcastle, Nuatali Nelmes; Courtney Knight, Core Project Group. Image Supplied

The project will be the final piece in the Birdwood Precinct in Newcastle West’s new CBD, which Courtney Knight from CPG is thrilled to see.

“Since the design of our visions for the Birdwood Precinct in 2015, we’ve been focused heavily on creating a service-based precinct in Newcastle’s new CBD. With the completion of the Holiday Inn Express, RSL Lifecare vertical village and Newcastle first vertical Childcare Centre, this project is the jewel in the crown of the precinct both in its scale and locality,” Ms Knight said.

“At CPG we’re focused on designing and delivering quality and innovative turn-key projects to the highest standards, and we’re excited to set a whole new benchmark with HQ 727. A state-of-the-art project that has been designed to reflect a new era of commercial office accommodation where business and people alike can thrive and inspire.”

You May Also Like

Growing market: childcare facilities investment developing

Recent changes to Child Care Package subsidies, as well as govt support of childcare as an essential service, will be another growth driver.

West Perth’s CBD leading the move towards growing employment nodes

Markets which were not hampered with the same level of lockdown, such as Brisbane and Perth CBDs, have improved their occupancy.

WA Government to boost development with $80M fund and DAP delay cap

Premier McGowan announced 120-day state govt DAP caps and opt-ins for local govt, $80M in infrastructure funding, and green light for smaller multi-dwelling developments of $2M.

Experts Corner by The Property Tribune

Ko & NPA partner to launch several co-owned luxury properties at Mermaid Beach, Gold Coast

Ko's partnership with NPA Projects provides more opportunities to co-own off-the-plan holiday residences, including exclusive Gold Coast properties

Continue reading

Top Articles

Expert tips on how to be a successful property investor

Property expert and buyer's agent, Lloyd Edge, shares his insights.

Australian commercial property update: Industrial and tourism assets lead the pack in trying times

Commercial assets have faced volatility recently, driven by financing changes and demand fluctuations from institutions and funds.

WA has emerged as a property investment hub, and why that's a good thing

Eastern investors chase Perth's affordability, doubling the distance between home and investment in 2023, reveals MCG research.