Real estate development managers, EG Developments (EG), and joint venture partner, Stronach, have completed one of the last large-scale developments in Newcastle’s East End; an $87 million property which is walking distance to Newcastle’s new light rail and city beaches.
In 2011 EG jumped at the opportunity to acquire the 3025 square metre Newcastle site. The developer saw the potential to be a part of preserving the heritage of the former Newcastle Herald Newspaper building, which was founded in 1858.
Grant Flannigan, Development Director at EG said the high density, multi-storey site is the first in the area for a number of years.
“And given the land footprint required for developments of this scale, it is likely to be one of the last for some time.”
The development brings together old and new, restoring the original sandstone façade on Bolton Street as well as creating a modern communal rooftop space with 360-degree views of the Newcastle harbour, ocean and stunning Christ Church Cathedral.
EG worked in conjunction with Fender Katsalidis Architects and Richard Crookes Construction on the project.