1001/509 Hunter Street, Newcastle NSW 2300
1001/509 Hunter Street, Newcastle NSW 2300
Unit 1001 at 509 Hunter Street is a three-bedroom, two-bathroom apartment with two parking spaces, built in 2021 on a 162 square metre lot. It is part of the Sky Residences, an east facing high-rise with access to a rooftop Sky Lounge, pool, and gym. The property sits within Newcastle’s CBD corridor, a mixed urban precinct with cafes and retail, and falls under flood and heritage overlays.
What sets this unit apart is its configuration. Three-bedroom apartments with two bathrooms and two car spaces are rare in Newcastle’s premium apartment market, where two-bedroom units dominate. The high floor position, suggested by the Sky Lounge’s 360 degree views, combined with built-in wardrobes and floor-to-ceiling windows, positions it as executive living. This property suits executive professionals, empty-nesters, or investors seeking low-maintenance, high-yield accommodation in a walkable central location. The school catchment includes The Junction Public and Newcastle High, both well-regarded public schools, which adds to its appeal for families.
Several factors might influence value. The flood and heritage overlays could affect insurance costs or future development potential, though they are common in established urban precincts. The property’s high floor may limit natural light depending on exact orientation, but the east-facing aspect generally provides good morning light. Rental demand is strong, with potential income around one thousand dollars per week, reflecting the scarcity of three-bedroom units in this segment. The building’s age, roughly five years, means modern finishes and infrastructure, but buyers should consider ongoing body corporate fees for the pool and gym facilities.
Detailed Independent Property Report prepared by PropCred Analyst team for 1001/509 Hunter Street, Newcastle NSW 2300
Checks found:
Value Risk
1
Liquidity Risk
Planning Risk
2
Income Risk
1
Execution Risk
1
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Market Insight
Newcastle presents as a vibrant coastal city with a diverse property market, where demand is significantly outstripping supply, as evidenced by declining new listings and strong quarterly sales growth. Demand is driven by skilled professionals and supported by major infrastructure investments, including a transformative precinct redevelopment and enhanced transport links. While the market demonstrates robust momentum, key risks include affordability pressures in certain areas and pockets of price volatility in select suburbs, alongside new apartment supply entering specific precincts.
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PropCred Estimated Value
Bedrooms
3
Bathroom
2
Parking
2
Land
162m²
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