This article is from the Australian Property Journal archive
AN associated company of media mogul Kerry Stokes has received planning approval to develop a 325 ha industrial landholding in Newcastle.
The NSW Department of Planning & Environment has approved the first stage of development, the 242 ha Northbank estate located in Tomago, just north of Newcastle.
The development will be undertaken by Northbank Enterprise Hub (NEH), a property investment vehicle associated with Kerry Stokes‘ private company Australian Capital Equity (ACE).
NSW deputy premier and minster for trade and investment Andrew Stoner welcomed the development.
“The NSW government is investing in the Hunter through programs, including the Hunter Infrastructure & Investment Fund and the revitalisation of the Newcastle CBD, which together with private developments like Northbank, will help create jobs and grow the local economy,” Stoner said.
“We believe Newcastle has many attributes that will allow it to thrive as an industrial hub,” ACE CEO Ryan Stokes said.
“This approval allows us to commit to this long term project following the success of the first stage of development at Northbank, where we have already delivered the $160 million WesTrac NSW and ACT operational headquarters,” he added.
Colliers International’s managing director of industrial Malcolm Tyson said Northbank represents a great opportunity for companies seeking to establish their operations or headquarters in a fully master planned estate, which is able to accommodate their future growth.
“Furthermore it is, on the door step of Newcastle and its critical Port infrastructure, within Australia’s sixth largest city,” he added.
Colliers is leasing lots from 5,000 sqm to more than 50 ha.
Property Review
