newcastle and the hunter ebook

Newcastle Market Research

Executive Summary Newcastle is Australia’s sixth largest city and second oldest behind Sydney. Located at the mouth of

the Hunter River, it is the principal city within the Hunter Region and approximately a 2 hour drive

north of Sydney. The Newcastle and Hunter Region are experiencing unprecedented times of

investment from the private sector, Federal and State Government. These levels of investment are

fuelling a prosperous future for local citizens and investors alike.

Why Newcastle & Hunter Region?

BIS Shrapnel predicts1 Newcastle to be the strongest performer in Regional Australia with a

predicted 22% price rise over the next 3 years.

With a population of approximately 288,000 Newcastle supports a prosperous business

and commercial sector which fringes on the boarder of a NSW regional powerhouse,

the Hunter Valley.

Newcastle is the world’s largest coal export port and with a $1 billion2 dollar upgrade planned,

export volumes are set to increase from 90m tones p.a. to over 200m tones p.a. within 4

years.

Santos3 and Eastern Star in the Gunnedah Basin covers an area of about 63,000 square

kilometres, containing a combination of operated coal seam gas estimated to exceed 50

trillion cubic feet. In 2009 the two companies revealed they were negotiating with the

Newcastle Port Corporation to build a liquefied natural gas plant. Newcastle will be viewed as

a second east coast export hub behind Gladstone, QLD.

Newcastle will become a showcase for the latest in energy efficient technology after

being selected as the site for Australia’s first commercial-scale smart grid under the Federal

Government’s $100 million 4Smart Grid, Smart City initiative.

1 http://www.bis.com.au/verve/_resources/Rel_RPP10_FINAL.pdf 2 http://www.ncig.com.au/Home/tabid/54/Default.aspx

3http://www.santos.com/library/020709_Santos_increases_strategic_coal_seam_gas_position_in_Gunnedah_ Basin.pdf

4 http://www.climatechange.gov.au/government/programs-and-rebates/smartgrid.aspx

1


Newcastle5 Airport traffic numbers have soared from 214,000 in 2003 to well over 1 million in

2009. To compensate for this growth the NSW planning minister has approved a $120 million

expansion to Newcastle airport.

Newcastle is now perceived as an aerospace centre and is expected to attract a range of

defence contractors and raise the region onto the international stage in terms of aviation

and defence contracts.

Newcastle University is highly respected throughout Australia and the world. It currently

educates 28000 students and is ranked in Australia’s top 10 .

Hunter region has a population of over 620,000 and is the largest regional area in Australia.

This makes it larger than the state of Tasmania, Australian Capital Territory and the Gold coast.

The Hunter Region is visited by 7 million tourists every year

The Hunter Valley’s Equine Industry is a $2.4 billion6 industry that employs 40,000 people in

NSW.

The Hunter Valley7 is one of Australia's top wine growing areas, producing 31 million litres of

wine annually valued at more than $230 million.

The NSW minister for roads announced the Hunter Expressway8 will be the biggest road project

in the region’s history. With an investment of $1.7 billion, jointly funded with the Federal

government the expressway will cut times for travellers and see the completion of the third

Hunter River Crossing.

The Johnson Group has gained approval for a $200 million9 marina-based development at

Lake Macquarie near Newcastle. It proposes 188 marina berths, 150 units, a convention centre

and retail outlets. 5 http://majorprojects.planning.nsw.gov.au/page/state-significant-sites/proposed-

sites/?action=view_job&job_id=2894 6 www.planning.nsw.gov.au/DesktopModules/MediaCentre/getdocument.aspx?mid=303

7 http://www.business.nsw.gov.au/region/profiles/Hunter.htm

8http://www.rta.nsw.gov.au/constructionmaintenance/majorconstructionprojectsregional/hunter/f3_branxto n/

9

http://trinitypoint.com.au/newsitem.aspx?developmentId=1&parentId=6&pageId=6&newsId=163&category= news

2


The NSW Government has approved plans for a $190 million wind and solar farm10

, in the

Upper Hunter Valley at Scone - providing renewable power to more than 47,000 homes via

the 34 wind turbines, a hydro-electric generator and 100 hectares of solar panels.

Macquarie Generation11

has gained approval to build a $2billion power station at Muswellbrook and $670million

12 is planned for a coal loader expansion by Port Waratah

Coal Services.

Overdean Group has made a major private investment proposal for a 13

$470million golfing-

lifestyle estate on the Singleton Golf Club site. The 166-hectare Gowrie Links Estate will

incorporate 725 houses and an 18-hole championship golf course and has been five years in

the planning system.

10

http://www.nsw.gov.au/projects/190-million-wind-and-solar-farm-upper-hunter-valley 11

http://majorprojects.planning.nsw.gov.au/index.pl?action=view_job&job_id=3327 12

www.pwcs.com.au/display/assets/download.php?id=395 13

http://www.theherald.com.au/news/local/news/general/4bn-in-projects-for-hunter/1883135.aspx

3

http://www.nsw.gov.au/projects/190-million-wind-and-solar-farm-upper-hunter-valley


Contents

Why Newcastle & Hunter Region? ......................................................................................................................... 1 Contents ................................................................................................................................................................. 4 1. Newcastle Profile ............................................................................................................................................... 6 2. Newcastle Census Statistics .............................................................................................................................. 8 3. Newcastle/Hunter Developments ..................................................................................................................... 10

Bayswater B Power Station ...................................................................................................................... 10

Leading-edge new medical research centre ............................................................................................ 10

Knauf to build Steel River glass wool insulation plant .............................................................................. 10

Anna Bay beach resort approved ............................................................................................................. 10

Sand mining approval unlocks $320 million ............................................................................................. 11

Tomago Industrial Development .............................................................................................................. 11

DA lodged for Morisset subdivision .......................................................................................................... 11

$200 million marina is underway at Lake Macquarie................................................................................ 11

Newcastle City Centre Renewal Report ................................................................................................... 12

$650 million Newcastle CBD Redevelopment .......................................................................................... 12

$500 million Williamtown Aerospace Park ............................................................................................... 12

New life for historic hospital site ............................................................................................................... 13

Honeysuckle ............................................................................................................................................ 13

$100 million in bulky goods sites .............................................................................................................. 13 4. Newcastle/Hunter Infrastructure ....................................................................................................................... 15

$200million AGL Energy gas project ........................................................................................................ 15

New Hunter River crossing ...................................................................................................................... 15

Australian Rail Track Corporation (ARTC) completes Rail-passing loop .................................................. 15

$18 million bus plant for Tomago ............................................................................................................. 15

Gas Pipeline ............................................................................................................................................. 16

Intertrade Industrial Park .......................................................................................................................... 16

$1.5 billion in Coal loading infrastructure ................................................................................................. 16

Forth coal loader on the cards ................................................................................................................. 17

$200 million wind farm for Scone ............................................................................................ 17


$77 million upgrade for Hydro Aluminium ................................................................................................ 17

$100 million upgrade for rail tracks .......................................................................................................... 17

$100 million for power station infrastructure ............................................................................................. 17

$79 million switching station ..................................................................................................................... 18

5. Newcastle/Hunter Expansion ........................................................................................................................... 19

Coal & Allied proposal .............................................................................................................................. 19

$500 million Orica expansion ................................................................................................................... 19

Hunter Valley Private Hospital ................................................................................................................. 19

Coal & Allied Hunter Valley Operations South Mine................................................................................. 19

Downer EDI Cardiff rail workshops .......................................................................................................... 20

Sandvik to build $33 million factory at Tomago ........................................................................................ 20

Major shopping centre redevelopments ................................................................................................... 20

$50 million Grandstand redevelopment .................................................................................................... 20 Merewether Baths, Newcastle Disclaimer: The details in this document provide a guideline for prospective purchasers and does not represent an offer or a

contract. All descriptions, dimensions and references to conditions have been provided in good faith and are believed to be

correct. Intending purchasers should not rely on this document as statements or representations of fact, but must satisfy

themselves by inspection or otherwise and where necessary seek advice.

5


1. Newcastle Profile

Founded in 1804 as a penal colony, Newcastle is a city rich in history, the arts and culture. With over

200 years of history Newcastle is Australia's sixth largest city and offers all the benefits and amenities

of a large city but with all the friendliness of a regional town. Newcastle is Australia's second oldest

city and home to some of the nation's most significant heritage sites. Since the closure of BHP in

1997 Newcastle has undergone a transformation from its industrial past to a city with a vibrant arts

scene, dynamic civic and cultural precinct, and a growing business development centre. The robust

economy ensures Newcastle continues to cement its position as one of Australia’s key business

destinations.

Newcastle is the economic hub of the Hunter Region, accounting for approximately 30% of the

Hunter’s developed industrial space and 80% of the office space. While Newcastle’s industrial sector

continues to play an important role, Newcastle is no longer a ‘steel city’. A substantial and growing

portion of Newcastle’s economy is now based around the service sectors. Newcastle’s workforce is

over 60,000 strong and the region’s occupational structure has undergone significant up-skilling, with

an increase in professional, associate professional and clerical employment.

Newcastle’s city centre is the most diversified in NSW outside Sydney and employs over 17,000

people in a vibrant mix of commercial, educational, entertainment, cultural and community

enterprises. Inner city renewal and renovation projects, notably the Civic Cultural Precinct and the

Honeysuckle Precinct, are stimulating investment and revitalising the city The 2007 Newcastle City

Centre Plan14

sets targets for growth to 2031 of 10,000 additional jobs and 6,000 additional residents

and provides the planning framework to encourage this. Major projects include the $320 million15

redevelopment of the Royal Newcastle Hospital site as a hotel, residential and retail precinct and the

proposed $500 million redevelopment of the central shopping precinct. Retail development is

continually expanding with now over 20 local and district centres across the Local Government Area.

Newcastle boasts 2,500 hectares of industrial land, with 70% of this being located near the Port of

Newcastle.

Newcastle is the world's biggest coal port and is opening a major new coal export terminal over the

course of 2010, bringing the export capacity of the Hunter Valley coal chain to an incredible 178

million tonnes of coal per annum. Within ten years, the coal corporations plan on exporting more

than 300 million tonnes of coal per annum - a tripling of current export capacity. The Port of

Newcastle is Australia’s major bulk export port and a growing cargo and container hub. It currently

handles over 93 million tonnes of bulk cargo per year. It also hosts a range of ship-repair and super-

yacht businesses, as well as a marina and fishing cooperative.

Some of the world’s best surfing beaches, a host of restaurant filled streets and a vibrant arts scene continues to cement Newcastle’s position as a key tourist destination. It also attracts around 300 conferencing enquiries a year.

14

http://www.planning.nsw.gov.au/plansforaction/pdf/central_coast_regional_strategy.pdf 15

http://www.theherald.com.au/news/local/news/general/towers-emerge-at-former-royal-newcastle-hospital-site/1833497.aspx

6


Newcastle’s residential property is 30% more affordable than Sydney’s, while industrial land is typically less than half the cost of Sydney. Bar Beach Sunset, Newcastle

Newcastle Baths, Newcastle Nobbys Beach, Newcastle


2. Newcastle Census Statistics

8


Canoe Pool, Newcastle


3. Newcastle/Hunter Developments

Bayswater B Power Station

The NSW Government16

has approved Macquarie Generation’s plan for another base load power

station in the Upper Hunter. The 2000-megawatt station has concept approval for either gas or coal

and will accompany the existing Bayswater Power Station. “Bayswater B” is expected to create up to

1000 construction jobs and 160 operational positions.

Leading-edge new medical research centre

Work is expected to begin mid-year on the 17

Hunter Medical Research Institute’s (HMRI) new building

at Rankin Park. HMRI is a partnership between Hunter New England Health, the University of

Newcastle, researchers and the community with a focus on neuro-science and mental health,

respiratory medicine, maternal and children's health, and cancer. The $90 million centre will be built in

the grounds of John Hunter Hospital and has been forecast to have a flow-on effect creating about

680 jobs. It is expected to be complete by March 2012.

Knauf to build Steel River glass wool insulation plant

The NSW Department of Planning18

has approved a 23-hectare, $167.5 million glass wool insulation

manufacturing plant at Steel River, Mayfield. German company Knauf is behind the proposal, which

is expected to employ about 140 people and be complete by late 2010.

Anna Bay beach resort approved

Port Stephens Council19

has approved the proposed Birubi Beach unit resort at Anna Bay. Developer

John Byrnes estimates the resort to be worth around $15 million and to create about 250 jobs during

construction and 60 permanent positions within the resort itself. In addition to the units, plans include

a 200-seat function centre, restaurant, bar and landscaped gardens.

16

http://majorprojects.planning.nsw.gov.au/files/41558/01%20Table%20of%20Contents,%20Exec%20Summar y%20&%20Chpt%201-3.pdf 17

http://www.hmri.net.au/pages/about/building/index.php 18

http://majorprojects.planning.nsw.gov.au/files/37917/7.%20Architects%20Design%20Statement.pdf 19

http://www.portstephens.nsw.gov.au/files/159633/File/NewsletterSpring09.pdf

10


Sand mining approval unlocks $320 million

The NSW Government20

has approved the Mackas Sand Project on the Stockton Bight near

Williamtown. The $1 million project is expected to secure a reliable sand supply for the Hunter and

wider Sydney region over the next 20 years, generate around 60 operational and contract jobs and

unlock a resource valued at up to $320 million. The project involves the extraction of 30 million

tonnes of sand from two sites on the Stockton Bight at a rate of up to 2 million tonnes a year for a

period of up to 20 years.

Tomago Industrial Development

The first stage of a three-stage, $130 million Redlake Enterprises Pty Ltd21

project industrial

development at Tomago is expected to be complete before the end of 2013. It will include a WesTrac,

one of the world’s largest Caterpillar dealerships, service facility as well as a Caterpillar Institute for

the training of apprentice equipment mechanics. The next stage will be the development of related

WesTrac facilities including an equipment demonstration area, with the final stage being an industrial

park for other businesses including Caterpillar equipment hire company National Hire.

It is estimated about 400 new jobs, including 200 apprenticeships, will be created in the first stage. About 910 jobs are expected to be created during construction work at the Tomago site with flow-on benefits for the Hunter community. The Tomago site will also include distribution, maintenance and training facilities for 400 apprentices.

DA lodged for Morisset subdivision

Landcom has lodged a development application with Lake Macquarie City Council for a residential

subdivision at Morisset. The 137-lot development is expected to create 260 jobs. $200 million marina is underway at Lake Macquarie

A $200 million marina is underway at Lake Macquarie22

. The Trinity Point Marina is a Johnson

Property Group, master-planned lifestyle village. On completion, it will consist of 188 marina berths,

150 apartments, 550 square metres of retail and a convention centre. 20

http://majorprojects.planning.nsw.gov.au/files/41579/DGs%20Assessment%20Report.pdf 21

http://www.redlakeenterprises.com.au/ 22

http://www.johnsonpropertygroup.com.au/newsitem.aspx?developmentId=1&parentId=161&pageId=161& newsId=164&category=news

11


Newcastle City Centre Renewal Report

On 26 May, the NSW Government23

released the Newcastle City Centre Renewal Report.

Produced by the Hunter Development Corporation, the report sets out a clear direction to revitalise

the Newcastle CBD. The City Centre Renewal Report sets out practical steps to revitalise the CBD

by making it more attractive to private sector investment. Measures include:

• Relocation and expansion of part of the University of Newcastle’s campus. • Relocation of the State’s justice facilities to the Civic Precinct. • Creation of an integrated transport network. • Redevelopment of the Hunter Street Mall and the inner-city retail precinct.

The report outlines three key areas:

1. A new business centre and public transport interchange. 2. A cultural/civic/university precinct. 3. Tourist/residential/retail/historical precinct.

$650 million Newcastle CBD Redevelopment

The GPT Group24

has proposed a $650 million retail, entertainment and commercial development covering the majority of four city blocks.

$500 million Williamtown Aerospace Park

Industrial and commercial developer25

Hunter Land will spend more than $500 million over 15 years to develop 75 hectares adjacent to Newcastle Airport and RAAF Base Williamtown for the Williamtown Aerospace Park (WAP).

All WAP sites will be fully serviced to meet the modern requirements of aerospace, aviation and

related industry companies and its development will solidify the position of RAAF Base Williamtown

as Australia’s premier jet training facility and future home of the Jet Strike Fighter.

On full development, WAP will provide 2000 direct jobs and will cater for the progressive relocation

of up to one thousand civilian staff currently working on RAAF Base Williamtown.

23

http://hunterdevelopmentcorporation.com.au/documents/publications/HDC_-_Newcastle_City_Centre_Renewal_Report.pdf 24

http://newcbd.gpt.com.au/default.asp 25

http://www.williamtownaerospace.com.au/uploads/documents/Williamtown_Aerospace_Park.pdf

12


New life for historic hospital site

The Royal Hospital development will generate significant urban renewal in the Newcastle CBD. Work on Stage One, a $345 million project, is now underway.

Overseen by Mirvac, the development will include a mix of residential apartments, retail and commercial spaces, restaurants, cafes and a 4.5-star hotel.

The project will inject $10 to $15 million dollars into the economy, create 250 jobs during construction and more than 125 full-time jobs when complete.

Honeysuckle

Honeysuckle Development Corporation is now in its 17th year of overseeing one of Australia’s largest urban renewal projects – the redevelopment of 50 hectares of once derelict land and buildings along Newcastle Harbour.

The revitalisation of the city has been the key focus of this project and the creation of jobs in the

planning, development and tenancy of the various residential, commercial and retail buildings has

been a key driver in stimulating investment and attracting people to the city. To date Honeysuckle

has generated 1.35 billion in investment.

• $100 million in bulky goods sites

CC Retail Capital26

has made a significant investment in bulky goods sites in the region, purchasing a

4.1-hectare site at Kotara for $61.5 million. The retail group has also invested $22 million to develop

a Homemakers Centre at Warners Bay. The centre will contain 15 showrooms and create 200 jobs

during construction.

At Rutherford, Hunter Land has invested $20 million in a bulky goods site. Lots range from 2608 square metres to 7038 square metres.

26

http://www.bbretailcapital.com.au/?ref=Yapma.net

13


Newcastle Salt water Baths


4. Newcastle/Hunter Infrastructure

$200million AGL Energy gas project

AGL Energy27

has lodged a proposal with the NSW Department of Planning for its Gloucester Basin

Coal Seam Gas (CSG) Project. The $200 million project plans include 60 to 90 gas wells and

gathering lines, a central processing facility and a 100m wide pipeline corridor within the 1km concept

corridor from Stratford to Hexham.

New Hunter River crossing

Construction on a third Hunter River crossing28

is underway. The $65 million project is a single span bridge connecting Flat Road, Lorn with Pitnacree Road, East Maitland. The bridge will bypass central Maitland and relieve traffic in Lorn and Morpeth. The project is running to budget and is expected to be complete in 2011.

• Australian Rail Track Corporation (ARTC) completes Rail-passing loop

Australian Rail Track Corporation29

(ARTC) has recently completed the construction of a new rail-

passing loop at Aerosol Valley between Muswellbrook and Gulgong. The $15.3 million project

completes another milestone in ARTC’s drive to increase capacity on the Hunter Valley rail corridor.

Enabling trains to pass each other efficiently, the new loop will allow for more train paths and thus

increased capacity on the Ulan coal line.

$18 million bus plant for Tomago

Bus manufacturer Volgren30

Australia has built an $18 million bus plant at Tomago to produce 150

“bendy” buses for the State Transit Authority. The plant has been built at the Hunter Industrial Park.

27

http://www.agl.com.au/Downloads/Gloucester_Project_overview.pdf 28

http://www.rta.nsw.gov.au/constructionmaintenance/majorconstructionprojectsregional/hunter/thirdcrossi ng/ 29

http://www.infrastructure.gov.au/infrastructure/esp/files/RAIL_PROJECTS.pdf 30

http://www.nsw.gov.au/news/volgren-bus-plant-fully-operational

15


Gas Pipeline

The Queensland Hunter31

gas pipeline will transport coal seam methane gas from southern Queensland fields to Hexham and link with the existing Newcastle to Sydney pipeline. The $850 million privately-funded project will create 800 jobs during construction and 150 permanent positions after completion.

The 820km pipeline will deliver additional gas supplies, competitive pricing and choice for consumers.

• Intertrade Industrial Park

151 hectares of prime land at Mayfield32

is being developed into one of the most strategic and unique sites on the east coast of Australia. Positioned only 4km from Newcastle CBD the site offers 2km of water frontage as well as road and rail links.

The NSW Government has allocated $8.1 million for construction of critical infrastructure to support

development. The works include a new wastewater transfer system, the relocation and upgrade of the site's railway as well as road works to improve site access.

$1.5 billion in Coal loading infrastructure

Port Waratah Coal Services (PWCS)33

is currently spending $170 million improving its coal loading capacity from 89 million tonnes per annum (mtpa) to 102 mtpa. Further expansion worth $458 million will be spent improving capacity to 113mtpa.

Newcastle Coal Infrastructure Group34

is building a third coal loader at a cost of $922 million. The terminal will initially process up to 33 mtpa, expanding to a maximum of 66mtpa, and will include rail and wharf facilities.

31

http://www.qhgp.com.au/ 32

http://hunterdevelopmentcorporation.com.au/sites/intertrade-industrial-park 33

http://www.pwcs.com.au/pages/ 34

http://www.ncig.com.au/

16


Forth coal loader on the cards

Port Waratah Coal Services (PWCS) has lodged documents with the NSW Department of Planning

for the construction of a fourth dump station, ship loader and associated coal handling infrastructure

at its Kooragang coal terminal. The $500 million fourth coal loader is expected to improve the

efficiency of coal exports out of Newcastle, with work on the third coal loader nearing completion and

expected to be operational in March.

$200 million wind farm for Scone

The Kyoto Energy Park35

will be built near Scone and will generate up to 200MW of electricity via wind, solar and hydropower to be fed into the local electricity grid.

$77 million upgrade for Hydro Aluminium

Hydro Aluminium is in the process of upgrading the power supply infrastructure at its Kurri Kurri Smelter. The upgrade will secure the plant’s long-term future and provide sufficient capacity to meet potential increases in production.

$100 million upgrade for rail tracks

The Australian Rail Track Corporation is upgrading a third of the track between Whitingham and

Belford. The upgrade includes a third track adjacent the existing line, with new bridges.

$100 million for power station infrastructure

Macquarie Generation36

is investing $50 million to upgrade water treatment facilities at Bayswater

Power Station, leading to improved efficiency and reliability of Liddell and Bayswater power stations.

A further $50 million will be invested in upgrading the corporation’s Hunter River pumping station.

35

http://www.kyotoenergypark.com.au/aboutTheEnergyPark.html 36

http://www.macgen.com.au/GenerationPortfolio/BayswaterPowerStation.aspx

17


$79 million switching station

Work is under way on a new switching station37

to reinforce electricity supplies to the Hunter region. The station will allow existing electrical links to Newcastle, Sydney and the Hunter region to operate at higher voltages.

Hunter Valley

37

http://www.transgrid.com.au/mediaweb/articles/Pages/TransGridtoundertakeSmartGridSmartCityProject.as px

18


5. Newcastle/Hunter Expansion

Coal & Allied proposal

COAL & Allied38

has lodged a proposal with NSW Department of Planning to extend its mining

operations at Warkworth. The company plans to increase the area of approved mining within its

existing leases of its Mt Thorley Warkworth operation. The project will cost $600 million over 21

years and will create an estimated 150 additional full-time (equivalent) jobs.

$500 million Orica expansion

Orica39

has received approval for the expansion of its Ammonium Nitrate Facility at Kooragang Island. The $500 million project involves the expansion of the existing plant as well as the installation of a new Nitrate Acid Plant and Ammonium Nitrate Plant.

Hunter Valley Private Hospital

Hunter Valley Private Hospital

40 has been given the go-ahead by Newcastle City Council for

a $15million expansion.

A three-storey extension will give the hospital 35 extra beds, two new operating theatres and create up to 60 full-time jobs.

Coal & Allied Hunter Valley Operations South Mine

New approval conditions for Coal & Allied’s41

Hunter Valley Operations South Mine near Singleton will extend its operations until 2030, safeguarding about 830 jobs and generating an estimated $30billion in export earnings.

The approvals will allow the mine to increase output from 12.4million tones annually to 16million

tones. Additionally, Coal & Allied, a Rio Tinto subsidiary, has pledged to spend $130million on mine

improvements, creating 100 construction jobs and 50 long-term coalmining jobs.

38 http://www.coalandallied.com.au/media/38_media_releases_2427.asp 39 http://www.oricaki.com.au/index.asp?page=59 40 http://www.theherald.com.au/news/local/news/general/council-approves-15m-expansion-for-huntervalley- private-hospital/1505051.aspx

41 http://www.coalandallied.com.au/documents/090603_Fact_Sheet_HVO_South.indd.pdf

19


Downer EDI Cardiff rail workshops

Engineering group Downer EDI42

has unveiled its $20million upgraded Cardiff rail workshops built to

support the largest rolling stock project in Australia. The company has won a Sydney rail network

contract to build 626 “next generation” rail cars which are expected to inject more than $200million

into the local economy and create almost 200 new jobs in the Hunter.

Sandvik to build $33 million factory at Tomago

Multinational company Sandvik will build a $33 million major mining equipment factory at Tomago, establishing the Hunter as its South-east Asian headquarters. Mining vehicles and machinery will be

assembled, repaired and maintained at the factory.

Major shopping centre redevelopments

The GPT group43

has approval for a $350 million redevelopment of Charlestown Square to increase floor space to 130,596 square metres.

The expansion includes 100 new shops, cinema and community facilities. The project is now underway and scheduled for completion in 2010..

Westfield Kotara

44 has undergone a $170 million redevelopment, increasing its size to 64,000 square

metres. The centre now has 250 retailers.

Stockland45

is proposing a $270 million expansion of its Green Hills shopping centre in East Maitland.

The proposed expansion includes an additional level to bring the gross lettable area to 70,000 square

metres. Other additions include a new Myer department store, an additional discount department

store and 100 new specialty stores

$50 million Grandstand redevelopment

The home of the Newcastle Knights and Newcastle Jets is undergoing a transformation. The

State Government has injected $50 million and the Federal Government $10 million into the

42

http://downeredi.online-ar2009.com/index.php?option=com_content&view=article&id=13&Itemid=18&showall=1

43

http://www.charlestownsquare.com.au/content.aspx?urlkey=project_vision 44

www.westfield.com/kotara 45

http://www.stockland.com.au/shopping-centres/nsw/stockland-green-hills_6663.htm

20

Newcastle Market Research redevelopment of the western grandstand. The upgrade will complement the $32 million invested in the eastern grandstand.

When complete, the stadium will seat 33,000 people, with temporary seats boosting capacity to 40,000.

The stadium is part of a major sports precinct that includes the Newcastle Entertainment Centre and

Newcastle Showgrounds. This precinct has enormous potential to become Newcastle’s version of

Sydney Olympic Park and planning is underway for a number of major developments on the site.

Newcastle City

Compiled by Property Prevue

21

newcastle and the hunter ebook

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