Australian property group Third.i will expand its Newcastle commercial development portfolio after gaining DA approval for their project in constructing the Dairy Farmers Towers.
The move aims to transform the suburb’s West End precinct into commercial hubs, residential living and disability accommodation for NDIS participants.
Development for the Dairy Farmers Towers in the West End precinct in Newcastle has been approved.
Recent data from realestate.com.au shows median house sale prices in Newcastle have grown over 15 per cent in the past year – driven by buyers looking to secure their place in Newcastle booming property market.
The Dairy Farmers Towers comprises 184 apartments over the two towers with construction slated to commence later this year.
Construction on the Dairy Farmers Towers is set to commence later this year.
Spanning 1,600 sqm of commercial and retail space, the project will join Third.i’s other completed projects in the West End including Stella on Hannel, Eaton on Union and The West End Apartments.
According to the developer’s co-founder and director Luke Berry, the project will reimagine the heritage-listed architecture.
The project joins other projects either recently completed or underway – including Stella on Hannel, Eaton on Union and The West End Apartments.
“The Newcastle area is an underrated gem and is home to a laid back, natural lifestyle. It has everything you could ever want in a city without the hustle and bustle you’ll find in Sydney,” Mr Berry said.
“From bars and dining to restaurants and other lifestyle amenities including the large shopping centres to cater for everyone’s needs, the region is the perfect escape for those who still want a city life paired with peace and a more relaxed lifestyle.”
The development aims to provide an assortment of one-bedroom, two-bedroom, and three-bedroom apartments.
Newcastle experienced a rapid change in the post-pandemic period, with residential projects, commercial, and retail spaces arriving to market to accommodate the growing population.
Mr Berry said The West End was quickly becoming Newcastle’s lifestyle hub.
A view of the rooftop pool.
“Our Dairy Farmers Towers project is our latest to join our workbook in the area and we can’t wait to see what our future holds for future projects in Newcastle”
The development of the Dairy Farmers Towers coincides with a new retirement living project that comprises 148 luxury one, two, and three bedroom apartments.
Nicknamed “The Merewether”, the $120m construction is due to start later this year and will include 16 penthouses – each of which will feature a rooftop spa terrace and views overlooking the Merewether Golf Course.