A private Sydney developer paying $1.75 million for a 2,000 square metre site in the heart of Nelson Bay was a highlight of Raine & Horne Commercial Newcastle’s Super Auction held on September 14 at Fort Scratchley.
Auction coordinator Steve Dick, Director of Raine & Horne Commercial Newcastle, told the Newcastle Herald that six of the nine commercial properties on offer sold under the hammer and the event attracted more than 60 interested parties and 22 registered bidders, including several “big guns” from Sydney and Newcastle.
“Six of the properties sold under the hammer, a result that confirms the health of commercial real estate markets in Newcastle and the Hunter region,” said Steve. He said the market’s vigour was exemplified by the auction of a small shop at 207 Cessnock Road, Abermain, which sold for $335,000 to a Sydney investor.
Our full-service commercial real estate network can provide in-depth knowledge of local and regional property markets, with insight and understanding that comes from being a part of a long-established national and international property group. Committed to personalised service and achieving unsurpassed results, our clients continue to benefit from our network strength, which allows substantial cross-flow of international referral, advice and investment.
The Raine & Horne Commercial network is comprised of 100% owner-managed offices and includes numerous industry leaders and award winners. We employ agents who are empowered, encouraged to share and who maintain first rate communication to deliver the best possible outcome with every transaction. We pride ourselves on staying abreast of local and national trends and developments in the property industry, resulting in consistently cutting-edge services and holistic solutions for our clients.
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