West End of Newcastle attracting investment
The West End of Newcastle continues to attract attention with over 200 people attending the Property Council’s August Hunter Lunch – Dense End.
The event heard about a seismic shift in city centre investment patterns and trends which showed residential density in the West End soon outstripping the more fancied East End.
Once the symbol of Newcastle’s urban decay, the West End is now home to half the city’s new residential developments and will deliver at least 1,200 new apartments in the coming years. Hunter Chair of the Property Council and Director of Residential and Land for Colliers International, Edward Crawford, said investor confidence in the precinct had been gathering pace all year.
“Construction of the new Transport Interchange has been the magnet for over $700 million worth of private investment pouring into the West End”
But Mr Crawford said the lure of public transport infrastructure was not the only thing motivating investors.
“The $17 million Mine Subsidence Remediation Fund is correcting a huge market failure - creating the first level playing field for investors in Newcastle”
The keynote address from Stuart Campbell, Director of CKDS Architecture, focussed on outcomes in the West End. He said the mandated design excellence process was promoting diversity and innovation.
“Collaboration is delivering better performing sustainable buildings that last” “The process has also maximised opportunities for great public spaces and connections to the harbour, particularly around Cottage Creek.”