Newcastle bank NGM lists three city properties as 2028 move approaches
NGM is selling three city properties and moving its head office to Newcastle West in 2028.
Newcastle Greater Mutual Group (NGM) was created through the merger of Greater Bank and Newcastle Permanent. It has listed three inner-city properties for sale.
The portfolio includes the landmark seven-storey building at King and Union streets. It was long the headquarters of Newcastle Permanent.
A neighbouring mixed-use property is on Union Street. It includes the long-running Frank's Ham & Beef retail tenant.
The third site is at Hunter Street. It includes Newcastle Permanent's branch, with harbour views.
The views face the East End development. NGM is consolidating staff to a new 9,000-square-metre headquarters.
The new headquarters will be at the former Muso's Corner site in Newcastle West. The company has been seeking a single location since the 2023 merger.
This location will house all its corporate teams. The properties offer potential for adaptive reuse and redevelopment by new owners.
- 9000 square metres
- New headquarters size
- 2028
- Move year
- 2023
- Merger year
- Three
- Properties listed
Why it mattersThe sale signals major commercial consolidation in Newcastle's CBD and opens prime real estate for redevelopment or investment.
AustraliaNewcastle's property market faces new supply of landmark buildings. Local businesses and investors have opportunities to acquire or develop significant CBD sites.
✓ Claims checked against the source. checked 10 d ago
