February 15, 2018

Broadmeadow- New Urban Epicentre?

Looking at the Bigger Picture

Do you buy a home based on bricks and mortar or the land below? The way that our agents market and sell a property has evolved over the years and we now take a more holistic approach to the sales process. In the past, when we had a property to market, we would sell its physical features, such as the number of bedrooms, quality of inclusions etc. 

Whilst physical features are still the main focus of our marketing campaigns, we now include suburb profiles and information on surrounding facilities. With the recent market growth around Newcastle, people are realising that the land underneath a home is just as important as the physical house on the plot.

If you can foresee that a suburb is about to boom because it is equipped with family friendly facilities and world-class infrastructure, you know that your purchase will be a sound investment that will pay off in the long run.

First.National.Newcastle.Low.Res (76 of 77).jpgAs Agents, we know that marketing a suburb is nearly as important as marketing the house. 

The Broadmeadow Dream

This has been particularly significant in a recent sales campaign launched for the Centrale Apartment Development in Broadmeadow. We see Broadmeadow as the next urban hub in Newcastle and it is our job to not only sell the Centrale apartments, but to sell the Broadmeadow dream. 

The Centrale Apartment complex is one of the first developments that will contribute to an urban renewal that is happening through the Brunker Road corridor.  The state government has a clear vision for Broadmeadow to become a Hunter sport and entertainment precinct.

One of the largest developments in the process will be the $20M rugby league centre of excellence for the Knights which will be built at a site adjacent to McDonald Jones Stadium. The facility will include administration offices, a high-performance gym and training area, medical rooms, a sports science division, a Knights museum and four full-sized playing fields. 

Knights Centre of Excellence.jpgAn artist’s early interpretation of what a redeveloped Hunter Stadium could look like. Image: Newcastle Herald.

As well as the Knights centre of excellence, on Friday leading architecture firm dwp will unveil their vision for the Broadmeadow showground. Central to the plan is a multifunctional entertainment space, integrated with retail stores, cafés and bars, car parking and an adjacent hotel.

Broadmeadow Architecture.jpgAn entertainment precinct featuring a hotel, numerous cafés and eateries and residential area– this is what Broadmeadow could look like if the precinct is redeveloped. Image supplied by dwp.

Who is Buying at Centrale?

Unlike many other apartment developments sold in the past, we have noticed a surge of owner occupier sales for the Centrale Apartments. Of the 30 that have sold, more than 20 have been to buyers who will move in straight away.

People are seeing the benefit in living in a suburb that is still just a quick drive, bus, train, uber or bike ride to the CBD without having the parking and traffic hassle of living in the CBD. The Centrale complex is only two blocks from the Broadmeadow train station so you have direct access to Newcastle in one direction and Sydney in the other.

With a price range for the two-bedroom apartments between $525,000 to $625, 000, they are still an extremely reasonable investment for such an up-and-coming area.

Centrale Kitchen.jpgWe have noticed a trend of owner/occupiers purchasing the Centrale Apartments. 

Why Buy an Apartment Off the Plan?

We have noticed a significant shift in the Newcastle Apartment market in the last five years. We are seeing apartments become more and more popular for buyers from all walks of life, from first home buyers, to empty nesters looking to downsize, to executive couples to families.

So, why are so many buyers choosing the apartment lifestyle over the traditional house? Simply put; apartments are becoming more liveable. We are past the days when the word apartment was synonymous with a boring, lifeless shoe box. The Centrale apartments for example, incorporate all the luxuries of home living, without the maintenance. The thought of not having to mow a lawn or maintain a garden for the rest of your life is very attractive to some. 

Each apartment has been purposefully designed to reflect today's modern living, with all apartments including a car-space, large floor areas and a choice of contemporary or classic finishes, adding a personal touch to the interior. To top it all off, the complex features a unique rooftop space that is perfect to retreat to or entertain friends with the fitted BBQ area.

Centrale Rooftop 2.jpgThe Centrale rooftop terrace and garden will be a peaceful retreat with sweeping views of the city.

New Urban Hub

We are excited about the future of Broadmeadow and can’t wait to see it flourish as a new urban hub in Newcastle. I am lucky to have insider knowledge into the local market and love sharing that with clients so please contact me if you have any questions about Newcastle or buying/selling a home.

Thanks for reading,

Luke Murdoch