Newcastle Strata Update June 2020

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.

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Related Experts

Nick Christensen

Manager | Investment Services


Nick Christensen joined the team of Colliers International Newcastle in 2016, and has a pure focus on commercial and retail property transactions across the Newcastle region.

Prior to joining Colliers International, Nick had gained ten years’ experience in the real estate industry, four years focusing on the sale and leasing of commercial and retail properties in and around the Newcastle area.  Nick is proactive and highly self-motivated in delivering high quality customer and client service.

An REI accredited Licensed Real Estate Agent, Nick prides himself on knowing the Newcastle market intimately and strives to achieve the best result for his vendors.

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Peter Macadam

Director in Charge | Newcastle


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 25 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.

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Luke Rutledge

Manager | Investment Services


Luke Rutledge joined the Colliers International Newcastle team in 2014, having a pure focus on commercial sales and leasing across the Newcastle Region. Over the last five years at Colliers in Newcastle he has gained invaluable experience across a wide range of asset classes including Retail Sales and Leasing, Investment Sales, Development Site Sales, Commercial Leasing and Vacant Possession Sales. During this time, Luke has endeavoured to forge himself as one of the most dependable and enthusiastic property experts in the Newcastle area, with an attention to detail and a commitment to go above and beyond for his clients and colleagues. Having completed over 200 transactions in his career at Colliers International, Luke is known for his communication and negotiation skills. Luke thoroughly enjoys working within a team environment and is always aiming to develop the skills to position himself as a leader within the business, being an honest, reliable and dedicated property expert in the region. 


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Michael Chapman

Associate Director | Investment Services


Michael Chapman joined Colliers International Newcastle’s commercial sales and leasing team in 2013, and has become well versed within the local market with a proven track record of success. He specialises in the commercial and retail property asset classes, with experience across Leasing, Investment Sales, Development Site Sales and Vacant Possession Sales.

During his career at Colliers International he has proven to be one of the most active agents in the industry, extremely motivated and a highly strategic operative that understands the sale and leasing process and market drivers. His extensive understanding of the commercial market and ability to generate leads through his local and national relationships has seen him achieve over $53,000,000  in sales and leases since 2017, completing over 143 transactions.

He has worked with a range of clients including unlisted funds, syndicators, banks, national corporate clients and various private local clients.


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Ben King

Executive | Investment Services


Ben is a team oriented, customer-focused sales professional with over 15 years’ experience operating in both Australia and Internationally. Ben is a key team member of Colliers International Newcastle, specialising in commercial sales and leasing. 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.

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