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



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Prosper Group is Sydney's and Brisbane's leading property buyers agent, specializing in sourcing residential and commercial investment properties.

Below is a snapshot of the suburb St Lucia, Brisbane.

St Lucia, QLD 4067

Demographic profile

The population is 10,612. (2006 census)

47.8% of the population is aged between 15 and 24 with the median
age of 23. (2006 census)

68% of the population has never been married as opposed to 33%
average for Australia. (2006 census)

40% of the population work as professionals as opposed to 19%
average for Australia. (2006 census)

There is a strong demand from the university for accommodation for
students and staff, as well as for professionals who want to be
close to the city but not in the typical high rise suburbs.

There is a high percentage of tertiary workers, 13% of the
workforce as opposed to the Australian average of 1.8%.

Geographic profile

Located 4km south-west of Brisbane CBD.

The area is bounded by the river to the north, university to the
east, golf courses to the south and an established residential
area and train line to the west, which creates a peninsula suburb.

Property Market

Median unit price is $449,825 (Source: Property Data Solutions)

49% of housing stock is being rented as opposed to 27.2% for
Australia. (2006 census)

The median weekly rent is $400 (Source: Home Price Guide)

Apart from the river front area there is very limited high rise
buildings in the area and limited opportunities for future supply
of high rise developments.

Recreation

The local residents benefit from the university infrastructure
which includes excellent sporting facilities, cinemas,
restaurants, an Olympic-size swimming pool, libraries and
bookshops.

St Lucia and Indooroopilly Golf course.

Walking and cycling along the riverfront.

Close to Mount Coot-tha which has the Brisbane Forest Park and the
Brisbane Botanical Gardens.

Schools

Ironside State School is the only primary school in the suburb.
There are 2 primary schools, a high school and College in the next
suburb.

The University of Queensland is the primary focus of St Lucia, the
university and residential colleges cover a large proportion of
the suburb.

Shopping Amenities

The suburb boasts its own commercial district that features
supermarkets, cafes, restaurants and delicatessens.

Located close to major shopping centres at Toowong and
Indooroopilly.

Transport

The CityCat stops at two terminals in St Lucia, the Guyatt Park
CityCat Terminal and the University of Queensland Terminal.

There are regular bus services that ferry passengers to all the
major points around the area.

The nearest train station to St Lucia is the Toowong Train Station
approx 1km away.

Surrounding Suburbs

Toowong, West End, Highgate Hill, Taringa, Dutton Park,
Indooroopilly and Yeronga.

Planning

The recently constructed Green Bridge which links the university
to Dutton Park was a major planning initiative which has opened up
St Lucia to the southern districts of Brisbane CBD.

The local council has placed development restrictions within the
area which restricts any high rise buildings (building greater
than 3 storeys) except along the waterfront.


Suburb Growth Rates & Predictions

Units Historical Growth (Residex) p.a
1 Years 18.1%
5 Years 14.14%

Results shown for 5 years is as of Dec 06 and 1 year is as April 08.

University of Queensland

Total number of students is around 37,500, from more than 117
countries.

Total staff is around 5,600 (2,408 academic and 3,253 general).

Total number of students that need accommodation is approx 6,600.

Total number of on campus accommodation is around 2,300.

Total number of student specific off campus accommodation in St
Lucia is around 600.

The estimated shortfall in student accommodation is 3,700 places,
which is taken up in St Lucia and the other surrounding areas.

St Lucia has a total of 4,036 dwellings of which 2,003 are
apartments and 391 are townhouses, giving a total of 2,394 medium
density dwellings. (2006 Census)

On campus accommodation rates range from $308 p/wk - $490 p/wk
over a 34week period/ P.A, and if the students stay during non-
academic time they are usually charged a higher weekly rate. This
rate includes a single room, shared facilities and 3 meals per day.

Off campus accommodation rates average around $200 p/wk for 1 bed,
$380 p/wk for 2 bed and $515 p/wk for 3 bed. These rates do not
include meals.

To find out more about buying property in Brisbane or Sydney please click here Brisbane Property Buyers Agent or Sydney Property Buyers Agent.


Below is a map of St Lucia




Below is a map of the Brisbane area





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An update on Sydney's Commercial Property Market from Prosper Group, leading Commercial Property Buyers Agent in Sydney and Brisbane.

Sydney Commercial Property Market:

Office:

Rents in the CBD continue to rise (by 24% in 2007) and vacancy rates fell to 3.7%, the lowest since the late 1980’s. This looks to continue over the next 3 years with net supply to be offset by net absorption (demand by tenants). This market may be more affected by a US slowdown. If the US were to slowdown as occurred in 2001, vacancies may rise to 6%.

Rents in North Sydney rose by 5% in 2007 however, this market remains oversupplied. Steady demand & low new supply should see vacancies drop to around 9% by the end of 2010. The North Sydney market may also see some over spill from CBD tenants looking to push out in search of cheaper rents and better deals. Parramatta rents increased by 11% during 2007 with potential for this to continue as vacancies fall.

Retail:

NSW Retail spending rose by 6.3% in 2007, the highest level since 2002 as job growth, rising population growth & good economic conditions lifted household income. Continued job growth (at least in the first half of 2008) should drive turnover at a faster rate in 2008, before slowing in the subsequent two years.

NSW and Sydney are more open to any slowdown in the US economy. Although expectations are that any impact will be minor. Low levels of new supply will help the market maintain some stability should economic growth or retail spending growth not be as high as expected. Inflation level rental growth is expected over the next three years.

Industrial:

NSW has been one of the weakest economies since the end of the 2000 Olympics. Slow growth has been saved by high imports and storage requirements (warehousing), fuelled by steady growth in private consumption.

Demand for Industrial property should continue to remain robust at least to 2010.

41% of Sydney’s future Industrial supply is in the outer North West. This high level of supply will need a continued strong economy to ensure that some of the more speculative investment is leased up.

Rental growth averaged 15% in 2006 and 4.3% in 2007. Rental growth should be around CPI for 2008 given the high levels of supply, albeit demand is also strong at present.

For information on Prosper Groups Commercial Property Buyers Agent service click here commercial property buyers agent

For case studies on Prosper Groups Commercial Property Buyers Agent service click here commercial property buyers agent




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As a property buyers agent in Sydney and Brisbane we are in the position to observe the property market day in and out.

Brisbane

Brisbane is continuing to show solid growth in property values with overall growth of around 3 percent for houses and units during the first four months of 2008. Brisbane house values are now 5 percent or $24,000 higher than Melbourne’s.

Sydney

Sydney value growth is flattening across the board, even in the traditional growth hotspots of the inner city and metrocoastal regions. Six to twelve months ago we were seeing steady growth of 2 to 4 percent in the Eastern Suburbs, North Shore and Northern Beaches. 2008 has been more volatile, with a month of growth followed by a month of decline; virtually a flat market. The exception to the rule seems to be the St George – Sutherland region where value growth has been much steadier. The best performing market during 2008 has been units in South Western Sydney where buyers are opting for units and town homes instead of more expensive houses.

To find our more about buying property in Sydney or Brisbane please click here Sydney Property Buyers Agent or Brisbane Property Buyers Agent



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Prosper Group, leading property Buyers Agent snapshots the Brisbane property market and identifies buying opportunities.

Queensland’s population grew by 90,500 in 2007. International immigrants represented 33,500 of this total.

17,887 new dwellings were approved in 2007, which will do little to cater for the increasing demand.

Brisbane’s affordability levels are almost on par with NSW as loan repayments account for around 38% of the average family income. Three years ago the proportion in Brisbane was 28%, whereas NSW remains unchanged over this period. Further deterioration of affordability in Brisbane is expected due to the recent rate hikes.

Brisbane rental growth was 11.5% in 2007 and is likely to be around 10% in 2008 as there will be little relief in vacancies which is around 1.6%.

Rental growth in Brisbane has averaged almost 9% per annum since march 2005.

Brisbane median house price growth in 2007 was a surprising 16.5% underpinned by strong population growth and strong economic conditions. Price growth in 2008 should be around inflation, as an average.

To view related articles click here – Brisbane Buyers Agent

Opportunities:

Buyers agent, Prosper Group advise that when considering property investment opportunities in this market, investors should still adhere to the fundamental criteria of property selection. The property should be well located and have good position, have some scarcity value (not in high rise apartment blocks) and also have some opportunity to add some value to the property or increase the yield.

Motivated vendors who have high levels of debt are currently discounting stock to off load it and some properties are being sold up to 10% - 15% below previous valuations.

Opportunities exist for investors to buy well and lock in equity as well as cash in on rising rental yields.

Opportunities exist for homebuyers looking to enter the property market as some properties may be bought below replacement value. Many areas are discounting at present, so it may be a good time to buy and stop paying increasing rents.

Being a buyers agent we are frequently coming accross motivated vendors and as such are continuing to secure great deals for our clients.

To view related blogs click here – Buyers Agent

To view property case studies click here – Buyers Agent

To view property buyers agent services click here – Buyers Agent or call us on 1300 664373.





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