THE COLLECTION
March 2023
Commercial and industrial opportunities across the Newcastle and Hunter region
Welcome
We are pleased to share the latest edition of our Commercial Collection, outlining a range of premium commercial and industrial property opportunities currently available.
With interest rates and increased costs continuing to play a large part in our everyday discussions at present, the ongoing thoughts of a potential market recession are on the minds of many.
However, many financial experts agree that the Reserve Bank is likely to slow the increases in interest rates very soon due to the unusually high and rapid rate rises now being felt in the market.
Recent commentary around the commercial property industry speaks of office yields easing over 2023 due to the increase in flexible working arrangements in a post-pandemic environment. This does create a unique opportunity to provide shorter lease terms that allow for upward revisions to take place more regularly and provide a reliable recurrent income. The Newcastle market has also seen increases in office vacancy rates in the past 12 months, now rising to 11.7 percent (up from 10.8 percent) according to the Property Council of Australia, though these are still below the national average of 13.3 percent. Last month, the Property Council of Australia stated that the Newcastle office vacancy rate was a reflection of the increase in stock coming onto the market and should not be considered as indicator of an increase in tenants leaving the area. They further stated that businesses were continuing to see more regional locations such as Newcastle as attractive commercial opportunities which offer the lifestyle flexibility that more employees are searching for, indicating that the Newcastle CBD in particular would continue to prosper with the large amount of development currently taking place. Industries such as seniors living are also being seen as having reliable recurrent incomes and we are seeing increased enquiries coming through on some of our available opportunities in line with this.
While the market continues to be cautious and monitor the macro-economic environment, it is clear that the Newcastle market remains resilient and is predicted to remain this way. Our transactions across the board remain stable and property enquiries continue to be strong. As always, an open mind to diversification of investment across industries in commercial property is always a discussion we’d be happy to have with you, whether it be aged care, retirement villages, cafes, office space, industrial opportunities or developments, our team is experienced and knowledgeable.
Dane Crawford Partner | CEO
Sale Opportunities
42 Darling Street Carrington
151 Palmers Lane Pokolbin
Are you looking for a dedicated Asset Management team?
Our local team of industry experts have a wealth of knowledge, experience and an extensive track record in managing a diverse range of property. We are not just rent collectors, we build relationships, provide solutions and maximise returns. We are local, we are experienced, and we are connected.
If you would like to discuss how Commercial Collective can assist you with your asset, please don’t hesitate to contact us on 02 4077 5858
Lease Opportunities
Find out more about the services we offer
13 Meteor Place Rutherford
Brand new warehouse facility ready for occupation
Level 2, 18 Bolton Street Newcastle For Lease
Affordable office accommodation in East End
1-4, 5-7 Coal Wash Drive Mayfield West
Ground floor, 73 Hunter Street Newcastle
Rare food and beverage opportunity
Forbes Street
Yilen Close
NEWCASTLE
Level 2, 28 Bolton Street, Newcastle NSW 2300
EAST MAITLAND
Suite 2, 13 Mitchell Drive, East Maitland NSW 2323 02 4077 5858 office@commercialcollective.com.au
DISCLAIMER
This document has been prepared by Commercial Collective using information provided to it for the transaction contemplated. Any statement or opinion made by Commercial Collective in this document is not based on any actual or implied knowledge or consideration of the investment objectives, financial situation, legal or taxation position or any other particular needs or requirements of the recipients of this document. All parties must make their own independent assessment and seek professional advice for their specific circumstances.
Neither Commercial Collective, its directors, employees, agents and related entities (Commercial Collective Entities) make any recommendation about the transaction or potential returns or use of the property. The Commercial Collective Entities do not warrant the completeness or accuracy of the information contained in this document or that it is not misleading or not likely to be misleading or deceptive.
None of the Commercial Collective Entities will be liable (whether at law, in equity or otherwise) in any circumstances for any statement made or anything contained in or arising out of the information in this document including any errors, misrepresentation or omissions. Commercial Collective disclaims all responsibility for any loss or damage caused by reliance by any person on this document or any representation, warranty or statement made by or on behalf of any of the
ACKNOWLEDGEMENT OF COUNTRY
Commercial Collective pay our respects to the traditional owners, their elders past and present and value their care and custodianships of these lands. Commercial Collective is a proud Newcastle company built on the lands of the Awabakal & Worimi people.