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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

Associate Director | Investment Services


Nick joined the Newcastle team  of Colliers in 2016 and now holds the title of Associate Director - Investment Services. Prior to joining Colliers, Nick worked in the Newcastle property market at a family run business, Walkom Real Estate for six years. Nick specialises in commercial and retail sales and leasing as well as residential and commercial development site sales across the Newcastle and Hunter regions. 

Since 2016 Nick has completed over 185 sale and lease transactions worth in excess of $150 million.

With a clear passion for the industry,  Nick is proactive and highly selfmotivated in delivering high quality customer service. As an REI accredited Licensed Real Estate Agent, Nick prides himself on being an expert in the Newcastle market and strives to achieve desired results for his vendors, purchasers, landlords and tenants alike.

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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

Associate Director | Investment Services


Luke joined the Newcastle team at Colliers  as an Executive in 2014, having a pure focus on commercial sales and leasing across the Newcastle Region.

Over the course of Luke’s six+ 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 200 transactions in his time at Colliers International, Luke’s communication and negotiation skills have cemented
his place as one of the region’s best commercial agents.

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Michael Chapman

Associate Director | Investment Services


Michael joined Colliers Newcastle office in July 2013 as an executive in Commercial Sales and Leasing. Over the past eight years, Michael has grown his expertise in various product lines in the Newcastle Region including investment sales, office leasing, retail leasing and vacant possession asset sales and is now regarded as one of Newcastle’s most experienced agents.

As one of the most active agents in the Newcastle Region, Michael’s expertise has led him to work with a range of clients including local property owners, Property and Investment Funds, the likes of Coles and Woolworths, various banks including Newcastle Permanent Building Society and Greater Bank, national corporate clients and mixed use developers.

Michael’s dedication to his clients and strategic property skills have enabled him to complete over 400 transactions in his time at Colliers, reinforcing his position as one of the most qualified property experts.

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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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