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Raine & Horne has expanded its presence in Newcastle in anticipation of a high-speed rail link between the city and Sydney.
The network’s new residential office has opened right in the central business district’s heart, on Hunter Street, as a complement to the brand’s existing suburban offices in New Lambton, Wallsend and Mayfield.
While the three existing offices are co-owned by Colin Bice, Tony Tolazzi and Craig Fennings, this venture is led by Cody Bice and Brad Wallace, who also lead Raine & Horne’s commercial presence in Newcastle.
According to Angus Raine, executive chairman of Raine & Horne, the brand is expecting big growth from the city, with a high-speed rail link between Newcastle and Sydney looking to become a reality.
Australia’s new federal government has pledged a $500 million down payment in the next budget to start corridor acquisition, planning and early works of the project, working closely with the NSW government, which has also identified the major infrastructure upgrade as a priority.
“The flood of buyers from Sydney to Newcastle will become a tsunami if trains operating at speeds of over 250 kilometres an hour can slash journey times between the cities from over two and a half hours to just 45 minutes,” Mr Raine said.
The executive chairman has long been an advocate for the fast train and has been keenly eyeing upgrades in the infrastructure that connects capitals to outlying areas to identify areas where the market might be making moves.
He recently applauded the wisdom of the slated Blue Mountains tunnel that will cut down commutes between the regional hotspot and NSW’s capital.
“More Sydneysiders recognise they have the opportunity to benefit from more affordable living costs while still holding down a capital city salary by working remotely,” he noted.
Though the Newcastle rail project is years in the making, Mr Raine felt now was the time to expand the brand’s presence, with a flow of residents from Sydney already underway.
“With so many Sydneysiders moving to NSW’s second capital either as owner-occupiers or renters, their knowledge of the Raine & Horne brand will make their shift to Newcastle and Lake Macquarie more seamless,” Mr Raine said.
Mr Bice noted that there were already changes afoot in Newcastle that his team was eyeing as a point of difference.
“To be able to set up the new office in Newcastle was just a fantastic opportunity. Newcastle has many residential apartments popping up, so being in the mix of it all is very exciting,” he said.
Mr Wallace agreed: “The CBD has enjoyed a development surge with plenty of residential towers going up, and there seems to be a lot more national focus on Newcastle as a town.
“Newcastle is no longer under the radar, and the possibilities and options for a residential real estate office based in Hunter Street backed by the Raine & Horne brand are limitless.”
ABOUT THE AUTHOR
Juliet Helmke
Based in Sydney, Juliet Helmke has a broad range of reporting and editorial experience across the areas of business, technology, entertainment and the arts. She was formerly Senior Editor at The New York Observer.
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