Yes, quite a few actually, some of which are in planning for construction, and others already in construction:
- from an IP ownership perspective, the recent completion of the Hunter Expressway has cut significant travel time from Newc & surrounds to the upper hunter mines, suggesting more workers will travel from this area, than depend on rentals in the upper Hunter.
- Newc Port has been sold earlier this year for $1.7 billion. Partial proceeds to be injected into the Newcastle City Centre Urban Renewal project (confirmed to date $460 million).
- As part of the above, the heavy rail line is expected to cease in Dec 14, in preparation for installing a light rail into the city.
Info from http://www.planning.nsw.gov.au/Port...wcastle_Urban_Renewal_2014Update_forweb.pdf):
- UrbanGrowth NSW & GPT planning for inner city high rise and other building projects. A number of announcements and proposals have been publicised in the media in recent months.
- Construction of Law Courts in progress ($94m).
- Newc Uni expanding into the city.
- Newc Airport terminal expansion.
A lot of this activity is after many years of stagnation within the city and region. The city centre has contracted considerable in the last 20 yrs, and it appears that the Renewal project will help to bring more accom, business and tourism into the city centre.
This recent activity gives support the strong property prices being experienced. I expect it will also assist to boost rentals during construction over a number of years. I feel that exciting times are ahead of the region.
- from an IP ownership perspective, the recent completion of the Hunter Expressway has cut significant travel time from Newc & surrounds to the upper hunter mines, suggesting more workers will travel from this area, than depend on rentals in the upper Hunter.
- Newc Port has been sold earlier this year for $1.7 billion. Partial proceeds to be injected into the Newcastle City Centre Urban Renewal project (confirmed to date $460 million).
- As part of the above, the heavy rail line is expected to cease in Dec 14, in preparation for installing a light rail into the city.
Info from http://www.planning.nsw.gov.au/Port...wcastle_Urban_Renewal_2014Update_forweb.pdf):
- UrbanGrowth NSW & GPT planning for inner city high rise and other building projects. A number of announcements and proposals have been publicised in the media in recent months.
- Construction of Law Courts in progress ($94m).
- Newc Uni expanding into the city.
- Newc Airport terminal expansion.
A lot of this activity is after many years of stagnation within the city and region. The city centre has contracted considerable in the last 20 yrs, and it appears that the Renewal project will help to bring more accom, business and tourism into the city centre.
This recent activity gives support the strong property prices being experienced. I expect it will also assist to boost rentals during construction over a number of years. I feel that exciting times are ahead of the region.
