infinitus advisory

A survey of business vacancies in the CBD was conducted in 2007 by The Newcastle Alliance.  This report indicates that over the period August 2004 to December 2007 the number of premises now being used as commercial business enterprises has fallen by approximately 6% with a total of 57.5% of premises now being devoted to commercial business enterprises.

Other key statistics from this survey include:

• A total of 267 vacant premises in the City Centre.
• 97 new businesses were started since 2004 but these were more than offset by an additional 150 vacancies.
• Redevelopment has taken place on 45 properties.  This has been predominantly into residential apartments.  There are now 111 residential properties within the City Centre.
• Government Office and Community Organization closures during the three year period have resulted in an erosion of the number in the Government-Community sector to 68 or 5.8% of the total.
• A total of 53 premises & vacant blocks are now providing parking facilities.

Click on the following link to view the full report:  "Business Vacancies Survey 2007"