Commercial Property: The Gateway office space fully leased

NEW DEVELOPMENT: The Gateway with a net lettable area of approximately 9500 square metres is under construction and will be the new home to Newcastle City Council staff.
NEW DEVELOPMENT: The Gateway with a net lettable area of approximately 9500 square metres is under construction and will be the new home to Newcastle City Council staff.

Newcastle City Council will not be the only tenants enjoying brand new office space in The Gateway on the corner of Hunter Street and Stewart Avenue with the building being totally leased.

Council announced this month they would be moving administration and 400 staff from its King Street headquarters to the new development which is under construction and set for completion in 2019.

Fairfax Media reported the council had struck a 15-year lease on 5500 square metres of office space.

Knight Frank marketed the building and said council would be the main tenant but the rest of the building’s office space had also been leased.

Knight Frank’s Ross Cooper said there was “strong interest in the building” given there was limited opportunity for new offices of The Gateway’s scale in the city.

The development will comprise two towers over five levels and 265 car parks.

“One of the drawcards for it was its location, its proximity to the interchange and with Newcastle West being proposed as the new CBD,” Mr Cooper said.

PRIME POSITION

Raine and Horne Commercial’s Jason Morris said the sell-off of the serviced apartment building Boulevard on Beaumont  presented an opportunity for the ground floor foyer and restaurant areas to be leased. 

Located on the exposed corner of Tudor and Beaumont Streets, the former foyer area is approximately 135 square metres. 

The food premises is a fully fitted, licensed restaurant that has seating capacity for 50 people. 

OPPORTUNITY: All of the apartments in the Boulevard on Beaumont have been sold and the foyer and restaurant on the ground floor have been listed for lease.

OPPORTUNITY: All of the apartments in the Boulevard on Beaumont have been sold and the foyer and restaurant on the ground floor have been listed for lease.

Mr Morris also recently leased the site of the former Red Rooster on the Pacific Highway in Belmont North.

TRANSFORMATION: The old Red Rooster site in Belmont North has been turned into a drive-through coffee business which opened its doors this month.

TRANSFORMATION: The old Red Rooster site in Belmont North has been turned into a drive-through coffee business which opened its doors this month.

It has been leased by Zarraffa’s Coffee, who have over 30 stores in Queensland and Western Australia.

The Belmont North store is their first for NSW and features a drive-through.