- Australian developer Third.i expresses desire to invest further in the Newcastle region
- Comes as the developer is in the midst of delivering several local projects, including Dairy Farmers Towers
- Newcastle was described by Third.i co-founder Luke Berry as an "underrated gem", as housing values rise 15% in the past 5 years
Australian developer Third.i is seeking to expand its Newcastle portfolio, after receiving development approval for its Dairy Farmers Towers project.
Third.i is currently delivering several projects across Newcastle’s West End, including a residential living hub, commercial hubs, and special residences for NDIS participants.
However, Co-founder and Director Luke Berry said the development group wishes to invest further in the Newcastle area, recognising its unique long-term growth potential.
Newcastle thriving post-Covid
Newcastle, located North of Sydney, has gained popularity with buyers causing the median house sale price to rise by 15% in the past 5 years, according to realestate.com.au.
Similarly, the median unit sale price has risen by 17% in the past 5 years, averaging an annual growth rate of 29.5%, according to CoreLogic.
Mr Berry described Newcastle as an “underrated gem”, home to a laid-back lifestyle with all of the perks of the city, minus the hustle and bustle.
“From bars and dining to restaurants and other lifestyle amenities including the large shopping centres to cater for everyone’s needs, the region is the perfect escape for those who still want a city life paired with peace and a more relaxed lifestyle,” said Mr Berry.
Mr Berry added that many buyers are re-evaluating their lifestyle in the post-Covid world, seeing the value in Newcastle.
“We’ve already established a growing legacy in the West End precinct, offering high-quality residential projects with state-of-the-art SDA apartments and commercial and retail spaces to accommodate this growing need.”
“We’re always looking to expand our presence in Newcastle and identify how we can invest in the area,” Mr Berry added.
New developments for shiny Newcastle
Third.i’s intention to continue its Newcastle expansion comes off the back of the group’s latest project to receive development approval, Dairy Farmers Towers.
The two tower project will deliver 184 one, two and three-bedroom apartments and 8 SDA apartments to the Newcastle area, in addition to a five-storey exclusive commercial and retail hub.
Dairy Farmers Towers is set to be completed in 2022 and will join an already impressive portfolio of Third.i projects in Newcastle’s West End including Stella on Hannel, Eaton on Union and The West End Apartments.
“The West End is quickly becoming Newcastle’s beckoning lifestyle hub, complete with an eclectic mix of urban flair and character.”
Luke Berry, Third.i Co-founder and Director
“Our Dairy Farmers Towers project is our latest to join our workbook in the area and we can’t wait to see what our future holds for future projects in Newcastle,” said Mr Berry.
Third.i also has plans for a retirement living centre in place, entitled ‘The Merewether’. The $120 million development will be created in partnership with its child company, ThirdAge, and will comprise of 148 luxury one, two and three-bedroom apartments.
The Merewether will be topped by 16 premium penthouses, each with a rooftop spa terrace that overlooks the golf course.
