SOLD
Sold on 22 May 2024 for $25,850,000

60 Riverside Drive
Mayfield West NSW 2304

Bedrooms: -
Bathrooms: -
Car spaces: 182
Land area: 89830m2
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Property Details for 60 Riverside Dr, Mayfield West

Building Type
Land
Land Size
89830m2
Local Government
Newcastle
Lot/Plan
22/DP280089

Last Listing description (October 2023)

'Steel River Depot' is a brand new trade retail opportunity in this highly desirable Mayfield West location. Zoned for E4 General Industrial under the Newcastle Local Environmental Plan 2012, the showrooms permitted uses, with consent, include hardware & building supplies, industrial retail outlets, landscaping material supplies, take away food and drink premises, neighbourhood shops, recreation facilities (indoor), vehicle repair stations and warehouse or distribution centres.*

The 24,419m2 site offers 8,150m2 of tenancy space across 18 units. Dedicated on-site parking will be available for 182 cars.


The centre will benefit hugely from the proximity to central Newcastle and surrounding suburbs and the ease of access from both north and south. The site is surround by arterial roads and new connections will provide easy access from Newcastle on Tourle Street, via Industrial Drive. The centre also directly faces busy Maitland Road, which quickly leads to the Pacific Highway. providing a link to the nearby mid-north coast.

Construction is due to commence in 2024, with a planned completion date within 12-18 months.

Catchment information:**
- Estimated resident population: 242,721 (2021)
- Population projection: 251,563 (2026)
- Average income per capita: $56,019 (national average, $55,505)
- Total household retail spend (2020): 31.6% (NSW average 30.36%)

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*Uses are subject to council approval.
**Source: GapMaps Reports, based on 20 minute drive from the location.

This advert has been prepared by Retail Projex for advertising and general information only. Retail Projex does not guarantee, warrant or represent that the information contained in this advert is correct. Any interested party should undertake their own enquiries as to the accuracy of the information. Retail Projex excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this advert and excludes all liability for loss and damage arising therefrom. Any renders are artist impressions only, not to be relied upon, finished product may vary. Neighbouring developments are indicative only, not to be relied upon. Permitted uses are subject to the required municipal authority approval.

Property History for 60 Riverside Dr, Mayfield West, NSW 2304

A timeline of how this property has performed in the market
Last Sold
$25,850,000
22 May 2024
Listed for Rent
$300/w
18 Oct 2023
  • 22 May 2024
    Sold for $25,850,000
  • 29 May 2023
    Listed for Rent - Price not available

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About Mayfield West 2304

The size of Mayfield West is approximately 2.5 square kilometres. It has 8 parks covering nearly 8.3% of total area. The population of Mayfield West in 2011 was 1,770 people. By 2016 the population was 1,896 showing a population growth of 7.1% in the area during that time. The predominant age group in Mayfield West is 20-29 years. Households in Mayfield West are primarily childless couples and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Mayfield West work in a professional occupation. In 2011, 62.3% of the homes in Mayfield West were owner-occupied compared with 58% in 2016.

Mayfield West has 1,561 properties. Over the last 5 years, Houses in Mayfield West have seen a 74.52% increase in median value, while Units have seen a 42.50% increase. As at 31 July 2024:

  • The median value for Houses in Mayfield West is $840,281 while the median value for Units is $545,736.
  • Houses have a median rent of $595 while Units have a median rent of $675.
There are currently 5 properties listed for sale, and 3 properties listed for rent in Mayfield west on OnTheHouse. According to CoreLogic's data, 95 properties were sold in the past 12 months in Mayfield west.

Suburb Insights for Mayfield West 2304

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Disclaimer
Whilst all reasonable effort is made to ensure the information in this publication is current, CoreLogic does not warrant the accuracy or completeness of the data and information contained in this publication and to the full extent not prohibited by law excludes all for any loss or damage arising in connection with the data and information contained in this publication.