Skip to main content Skip to footer

Office Middle Markets 2021: A Year in Review

Download Report
Search OMM H1 2021

With more certainty around office fundamentals, office investment activity rebounded strongly in 2021 with over A$5.28 billion transacting, a 47.19% increase on 2020 volumes. 2022 will continue to see strong appetite for prime grade long WALE assets with a strong tenant covenant. Buyer demand is expected to accelerate throughout the year and there is scope for further tightening of yields, particularly for prime assets. There is more opportunity to be unlocked as borders re-open and offshore buyers return, adding increased competition to the domestic market. With pent-up demand from foreign investors who have not been able to physically inspect property in Australia in the last 20 months, the reopening of borders will deliver a higher volume of buyers and result in more transactions across the country.

Colliers sold 65 Office Middle Market transactions during 2021, a significant 85.71% increase on 2020 results. Positively, the average sale price of assets transacted increased by 11.36% in Metro markets nationwide with CBD sales falling by 14.78%. Domestic investors dominated transactions accounting for almost 92% of all Office Middle Market transactions with off-shore purchasers sourced by the Colliers team accounting for over 58% of all off-shore investments across Australia, due to Colliers extensive team across its 400 global locations with 1,100 professionals.

Colliers are proud to hold a 45% market share in the Office Middle Markets since 2021.

Hero OMM H1 2021

Office Middle Markets 2021: A Year in Review

Download Report
Related Experts

Matthew Meynell

Managing Director | Investment Services


As the Managing Director of Australia's largest investment sales team, Matthew drives industry leading initiatives across Middle Market Office assets, Offshore capital, complex workout solutions in the Restructuring and Insolvency space and is proudly backed by a team of over 80 professionals at the forefront of the industry.

Matthew’s investment into relationships sees him deliver revenue, exceptional results and always exceed his client’s expectations. By doing what’s right for the team, the greater Colliers business and his clients, he has established himself as an exceptional leader within the business and the property industry.

View expert

Vince Kernahan

National Director, Sydney CBD Sales | Investment Services


I am the National Director – Investment Sales for the Commercial & Investment Sales division of Colliers International, based in Sydney and specialising in the Sydney CBD market. I am a key member of the National Capital Transactions team that works on selling assets in all States of Australia. This team discusses the active buyers and most saleable assets to ensure that our collective knowledge is utilised effectively.  I act for numerous major institutional and private clients coordinating sales campaigns and selling assets.


My specific expertise is in the promotion and sale of all forms of commercial property particularly in Sydney’s Central Business District. This includes sale of freehold, leasehold and stratum office buildings, development sites, strata projects and investment opportunities. As part of this I have sold numerous residential sites and retail properties. I have sold in excess of 500 properties during my career including numerous and complex campaigns, some requiring a high degree of probity.

View expert

John McCann

National Director, Sydney Metro Sales

Sydney West

30 years’ experience in Commercial, Investment Sales, Development and Portfolio Sales. With over 20 years with Colliers International's Investment Sales I have a strong understanding of Parramatta CBD and surrounding metro markets with recent transaction in Parramatta for 32 Phillip St  for $66 million , 9 Wenthworth St Parramatta for $64 million and  $20 Smith St Parramatta for $87,251 million with 2 campains in Novemeber 2022 at 203 Northumberland St Liverpool currently in DD and 9 George St Parramatta a curent campaing worth circa early $50 million

View expert

Alistair Mackie

National Director | Capital Markets & Investment Services


Alistair is a National Director in both the Investment Services & Capital Markets teams at Colliers Adelaide. Alistair is a longstanding member of the team, having worked for Colliers  for over thirty five years.
Alistair has a wealth of experience and market knowledge focussing specifically on the Adelaide CBD and metro markets. He has extensive client relationships with active local, national and international investors.
Alistair's specialties include all forms of commercial investments, particularly in high-value CBD office towers, retail assets (in particular Rundle Mall retail, where he has sold in excess of 25 individual assets), and development sites.
As a senior operator, Alistair has developed strategic understanding of complex transactions, national client knowledge and local market conditions advantaging investors.



View expert

Matthew Winter

Head of Capital Markets & Investment Services | ACT


As the  leader of the ACT Capital Markets and Investment Services businesses, Matthew specialises in the sale of CBD and Metro Office buildings, Strata Office, Retail, Industrial and Premium Investment assets. Matthew has positioned himself and his team at the forefront of the Canberra market, achieving the dominant market share over the past 3 years and transacting over $2b in sales. His efforts earnt the Colliers Canberra team the title of REIACT Commercial agency of the year for 2017, 2018 and 2019 as well as REIA Commercial Agency of the year 2019.  In 2020,  as part of the Canberra agency team, Matthew and colleagues were inducted into the REIACT Hall of Fame.  In 2021 & 2022 Matthew and his team facilitated over $1.3b in sales throughout the ACT and other National Metro Markets.  Matthew was recently recognised as the ACT Commercial Agent of the Year for 2022 and REIA Commercial Salesperson of the Year for 2023. 

Matthew collaborates as part of the National Investment Services business and is a key decision-maker within:

  • National Middle Markets Office Team
  • Strata Practice Group
  • Premium Investments Practice Group
  • Restructuring Property Services team (where he is the ACT team leader)

He values his investment in relationships, and partners with private and institutional clients locally, nationally and internationally (through local travel to Asia). This enables him to deliver enduring value to any property appointment acting with integrity and discretion. 

Critical to his success is his ability to extract the maximum sale price for his clients, even in challenging market conditions. By combining the right expertise, market experience and connections, he has developed a strategy to maximise the potential of property to drive exceptional results.

View expert