Urban Property Group acquires harbourside Bowline site in Newcastle's Wickham
Urban Property Group is continuing to expand its ever-widening new apartment pipeline.
The developer is soon to tackle the Newcastle's market, having taking over the mixed-use Bowline project on the harbour in Wickham.
The Bowline, just under 100 apartments across a 14-level building on Dangar Street, was being developed by MultiPart Property before they fell into receivership. Deposits were offered back to the original buyers earlier this year.
The large-scale apartments, that were pitched as being suitable for downsizers when it gained approval in 2019, would sit above 5,500 sqm of commercial space.
Urban Property Group secured the site through a competitive sale process managed by the appointed receivers and managers, Ryan Eagle and Amanda Coneyworth of KPMG.
Patrick Elias, CEO of Urban Property Group, said Bowline is a pivotal site in one of the most exciting growth corridors in the state.
"We recognise both the opportunity and the responsibility of taking this project forward."
Elias says the current approval dates back several years and there is a "unique opportunity to reimagine this site in a way that meets today’s needs while embracing the city’s future potential."
The site is located at 10 Dangar Street, Wickham, NSW 2293, on the corner of Hannell Street, Dangar Street, and Charles Street. This prime location places it adjacent to the Newcastle Interchange, a major transport hub.
UPG has recent experience taking over and successfully progressing complex projects. Urban acquired Gosford’s Central Coast Quarter from St Hilliers in 2024, and is now progressing toward top-out of the first stage.
UPG has several projects across Greater Sydney. They're working toward launching Mayfair on Penrith, 287 apartments across a 10-level building on an 8280 sqm site at 160-172 Lord Sheffield Circuit. It will be Urban Property Group's sixth and final development in the Thornton precinct, alongside their award-winning developments Navali and Lumia.
