One of Newcastle’s last large East End development sites brought to market
Newcastle NSW, March 2026 – One of the largest consolidated development sites remaining in Newcastle’s East End has been brought to market, combining substantial holding income with long-term residential redevelopment potential in the city’s fastest transforming urban precinct.
The 2,003.5sqm amalgamated site spans three titles with triple street frontage to Hunter Street, Newcomen Street and Scott Street, directly opposite the Queen’s Wharf light rail stop and within immediate walking distance of Newcastle Harbour, beaches, dining precincts and major lifestyle amenities.
Currently improved with a multi-tenanted commercial asset, the property generates $1,491,634.16 per annum in gross income from six tenants including Chemist Warehouse and Whitehaven. The income profile provides developers with the ability to secure a large CBD landholding while maintaining meaningful cash flow during planning and approval stages.
A feasibility assessment was undertaken testing a mixed-use redevelopment scenario comprising of 119 apartments with ground floor retail activation and structured parking, providing a clear blueprint for a large-scale residential project within the Newcastle CBD. The site benefits from MU1 Mixed Use zoning with a 20-metre height limit and a permissible floor space ratio of 3:1, supporting future mixed-use outcomes.
Commercial Collective’s National Director of Capital Markets, Matt Kearney, said there are very few development sites on this scale remaining within Newcastle’s CBD.
“Large, consolidated landholdings in the East End of Newcastle’s CBD are exceptionally limited” Mr Kearney said. “What makes this opportunity unique is the combination of redevelopment scale and direct harbor views. Developers are able to secure a strategic 2,003.5sqm CBD footprint in a precinct undergoing significant urban renewal, while the existing income of almost $1.5 million per annum provides holding income to undertake detailed planning and approvals”
Knight Frank’s Partner and Head of Agency, Brent Sinclair, said strong residential demand and limited new development sites were key factors expected to attract interest from development groups.
“Over the past three years Newcastle’s apartment market has demonstrated strong capital growth, with the Newcastle CBD median apartment price reaching around $1,005,000 and Newcastle East exceeding $2.1 million. That price divergence reflects both demand for coastal living from Baby Boomers and the scarcity of development opportunities in this part of the city.”
Located in the heart of the East End redevelopment precinct, the site sits among several recent and proposed residential and mixed-use projects as Newcastle’s city centre continues to evolve through significant public domain upgrades and infrastructure investment.
136 Hunter Street, 6 Newcomen Street and151 Scott Street is being offered for sale via Expressions of Interest closing Thursday 26 March 2026.
