Since 2015, in the Newcastle CBD there has been approximately $20,000,000 in commercial strata stock transacted per annum having an average sale price of $985,000, with 2019 and 2020 YTD sales indicating an increased average sale price of $1,100,000.
Recent capital values have ranged from $2,400 per sqm for an older office space at Level 1, 456 Hunter Street, through to approximately $7,000 per sqm for a brand new commercial space in the LUME development on Honeysuckle Drive.
Colliers Newcastle has transacted 80% of commercial strata sales in the Newcastle CBD for 2020 YTD with two sales transacting during COVID-19 restrictions. With over 55% of our commercial enquiries in 2020 being for properties under 500sqm, we are confident demand will continue to increase for the remainder of 2020 in line with the relaxation of COVID-19 restrictions, a lack of quality stock available and the continued private and public investment in the city.
If you would like further information please contact one of our experts today.
Newcastle Strata Update June 2020
Related Experts
Nick joined the Colliers Newcastle Team in 2016 as a Sales Executive establishing his career in real estate in 2008 in the residential market, and now holds the title of Associate Director - Investment Services.
Nick specialises in commercial and retail sales and leasing, as well as residential and commercial development site sales across the Newcastle and Hunter regions.
Over the course of Nick's six years in the commercial property industry, Nick has completed over 275 sale and leasing transactions worth in excess of $250 million.
Prior to joining Colliers, Nick worked in the Newcastle property market at a family run business, Walkom Real Estate for six years.
Nick's passion for the industry and his dedication to his clients and attention to detail is widely recognised within the industry and has reinforced his position as one of the most qualified and trusted property experts in the Newcastle region.
Peter is a strategic negotiator who is persistent and informative, which ensures his clients receive the most comprehensive advice and best possible results in the market.
Over the course of Peter’s 28 years’ in the property industry he has gained invaluable negotiation skills and track record in relation to commercial and retail property, along with mixed use and residential development sites (englobo and high density). Given his valuation background and understanding of the value drivers associated with all asset classes, coupled with his working knowledge of feasibility studies and Discounted Cash Flows he has also undertaken consultancy assignments for key clients, who rely on his expert opinion and strategic advice.
Peter has been part of Colliers International since 2002, and is deeply connected and can fully leverage all facets of the broader business, being a respected member of the National Senior Leadership Team.
Over his career Peter has gained unrivalled rapport with Local and State Government, private owners, Listed A-REITS, wholesale funds, development companies and large retail companies/owner occupiers.
Peter manages the largest dedicated commercial, industrial and real estate management team in the Hunter Region.
Luke joined the Colliers Newcastle Team as an Executive in 2014, having a pure focus on commercial sales and leasing across the Newcastle Region.
Over the course of Luke’s eight years in the property industry, Luke has worked on a wide range of asset classes including retail leasing and sales, investment sales, development site sales, commercial leasing and vacant possession sales.
During this time, Luke has forged himself as one of the most dependable and experienced property experts in the Newcastle area with an attention to detail and a commitment to going above and beyond for his clients and colleagues. Having completed over 400 transactions in his time at Colliers, Luke’s communication and negotiation skills have cemented his place as one of the region’s best commercial agents.
Having joined Colliers in July 2013 initially as a Cadet in Commercial Sales and Leasing, Michael quickly found his niche and a passion for Real Estate in the Newcastle Region. Over the last nine years, Michael has refined his skills and expertise across multiple asset classes and facets of the industry to become a highly regarded professional in his marketplace.
Specialising in commercial and retail leasing, investment sales and auctions, Michael is an expert at adding value to his clients and thrives off building new relationships and expanding his already broad network of clients, priding himself on being able to navigate complex sale and lease transactions and thriving in a fast paced environment.
Michael has had the pleasure of working with many local and private clients as well as the likes of National Banks, Local Government offices, National Institutional clients, developers and other large corporate clients.
Ben is a team oriented, customer focused sales professional with over 15 years’ experience operating in both Australia and internationally. Ben has been a key team member of Colliers Newcastle since 2019, and is well versed within the Newcastle and Hunter market, specialising across the business in a range of markets including commercial sales and leasing, industrial sales and leasing, investment sales, development sites and vacant possession sites. With refined communication and motivational skills to produce comprehensive results, Ben is an excellent negotiator who builds and maintains productive rapport, through the application of strong interpersonal skills.
With a strong understanding of market driving factors and a highly tuned analytical skill set, Ben has the ability to drive mutually beneficial outcomes for all parties, whilst maintaining key relationships.
During his time at Colliers, Ben has represented clients from both the public and private sector in the last three years. These include national institutions, retail funds, investment funds, banks and national corporate clients.