Prosper Group is Sydney's and Brisbane's leading property buyers agent, specializing in sourcing industrial and commercial investment properties.
Mayfield West, NSW 2026
Demographics & profile
Located on the doorstep of the world class Port of Newcastle, one of Australia’s biggest bulk export ports.
Newcastle is the thriving hub of the Hunter region.
There is state-of-the-art communications and trade infrastructure, low land costs and highly competitive energy and water tariffs.
The area is easily accessible to labour services in Newcastle and the surrounding centres such as Maitland and Port Stephens.
Mayfield West was part of the former BHP works area.
Prosper Group is Sydney's and Brisbane's leading property buyers agent, specializing in sourcing industrial and commercial investment properties.
Mayfield West, NSW 2026
Demographics & profile
Located on the doorstep of the world class Port of Newcastle, one of Australia’s biggest bulk export ports.
Newcastle is the thriving hub of the Hunter region.
There is state-of-the-art communications and trade infrastructure, low land costs and highly competitive energy and water tariffs.
The area is easily accessible to labour services in Newcastle and the surrounding centres such as Maitland and Port Stephens.
Mayfield West was part of the former BHP works area.
Newcastle is a leader in vocational training; it has the Hunter Institute (TAFE), which is the largest provider of nationally recognised vocational education and training services.
The Newcastle and Hunter region offers many lifestyle advantages such as pristine beaches, national parks and internationally renowned wine regions.
Transport
10km (10 minutes) away from Newcastle CBD.
Adjacent to Pacific Highway which is the main arterial road into and out of Newcastle with connections to the F3 freeway to Sydney, Brisbane and the New England Highway.
5km (5 minutes) away from the Port of Newcastle and the associated rail facilities.
15km (15 minutes) away from Williamtown airport with direct flights to Melbourne, Sydney, Brisbane and North Coast.
Current Supply
There is very limited supply of strata industrial units over 350m2.
Majority of strata unit stock is in the 150 to 300m2 range.
Most developments seem to allow 1/200 for warehouse space and 1/40 for office space for the car space allowance.
There are several strata unit complexes for sale in the Steel River Mayfield West precinct.
Most of the complexes have sold all their stock over 300m2.
The smaller area units are the main stock left in each complex.
The consensus from most of the agents is that there is usually very little discount in the asking prices, $10,000 maximum.
The developers prefer to offer incentives rather than lower their prices and dilute the market.
The incentives range from stamp duty savings, and office fit out costs to 6 month rental guarantees.
The sales rates average around the $1350/m2 range for warehouse/mezzanine stock with small office components.
The sales rates average around the $1450/m2 range for warehouse/mezzanine stock with around 30% office components.
Units with high office (greater than 40%) space are achieving higher sales rates of up to $2000/m2.
The lease rates average around the $105/m2 range for warehouse/mezzanine stock with small office components.
The lease rates average around the $120/m2 range for warehouse/mezzanine stock with around 30% office components.
Units with high office (greater than 40%) office space are achieving higher rates of up to $180/m2.
Recent sales of investment units have been between 7.5% and 7.8% net. (management fees included as outgoings)
Surrounding Suburbs
Mayfield North, Tighes Hill, and Sandgate. All these suburbs are surrounding industrial areas. Most of these areas were former BHP land prior to BHP shutting down. Mayfield North mostly consists of older, large warehouses. Tighes Hill and Sandgate are well established industrial areas.
Planning
There are plans to upgrade the Newcastle Port facilities with a third loading facility.
Newcastle Council has released a future master plan for the CBD, which will see a total rejuvenation of the current CBD area.
There are plans to upgrade the road infrastructure from the CBD to the Airport.
There are plans to upgrade the F3 with a link to Branxton and also a link through to Raymond Terrace, which would be a great improvement to regional and interstate travel times to and from Newcastle.
Opportunity
Buy good quality strata units with strong leases, preferably with areas larger than 350m2. With the opportunity to gain entry into a well located future industrial precinct.
To view property case studies click here - Commercial Property Case Studies
To view property buyers agent services click here – Buyers Agent Services or call 1300 664 373.
Below is a map of Mayfield West
Below is a map of the Hunter Region
