Commercial Asset: Watt St Commercial
Address: : 45 Watt Street, Newcastle
Tenants: Moray & Agnew, PwC, Maxim, ERM, Guild Insurance, Meridian Lawyers, PRD Nationwide, Forsythes, NSW Health, Injury Treatment, Australian Business Lawyers and Momma Bears lobby cafe.
Current Project Valuation: $40m (March 2018)
Construction Value: $14m
Type: Commercial Asset
Commercial Asset: Watt St Commercial | Newcastle
Superbly located at the east end of the Newcastle CBD, the property is metres to the stunning Newcastle Beach and the Harbour Foreshore. Watt St Commercial contains over 7,500 square metres of A-Grade office space over six levels, along with a 200 seat lecture theatre, secure on-site parking, landscaped courtyard and entry foyer cafe featuring a living green wall.
Watt St Commercial has a 4.5 Star NABERS rating with long-term tenants including Moray & Agnew, PwC, Maxim, ERM, Guild Insurance, Meridian Lawyers, PRD Nationwide, Forsythes, NSW Health, Injury Treatment, Australian Business Lawyers and Momma Bears lobby café.
This first-class adaptive re-use of the redundant David Madison medical research facility saved this iconic building from demolition and delivered far-reaching environmental, social & economic benefits to the residents of Newcastle.
Stronach Property acted as Development Manager and leader of the private equity syndicate which re-developed and retains ownership of Watt St Commercial. Stronach Property is the Asset Manager for Watt St Commercial.