2023: Our Growth, Innovations and Performance
Closing out the year is always a moment of reflection, and at Commercial Collective, we have much to celebrate. With transactions upwards of half a billion dollars, 2023 has been a testament to our team's dedication and the trust placed in us by our clients. From expanding our talented team to navigating dynamic market landscapes, every step has been a stride towards growth. Take a look at the details of our year, as we share insights into the collaborations and innovations that defined our journey through 2023.
14 New Faces Fuelling Our Growth
In the past year, Commercial Collective has undergone significant expansion, welcoming 14 new members. This strategic growth spans two additions to the Marketing team, three to Property Management, two to Business Innovation, two to Administration, and five to Sales and Leasing. Our commitment to expanding our workforce enhances our industry connections and elevates our service capabilities, positioning us to better serve our existing and future clients.
To accommodate this growth, we moved into our new Newcastle office at 10 Newcomen Street earlier this year. This relocation not only signifies our commitment to providing an optimal working environment for our team but also lays the foundation for continued expansion.
Ending 2023 strong with transactions upwards of $500M
We believe the true value of our combined experience, reputation, connections and the commitment we make to each client is a long-lasting relationship based on trust and respect. It is with this focus that we have been able to successfully transact over 300 properties both locally and nationally, worth almost $500M.
The industrial market has experienced a surge in demand for newly constructed, functional facilities, while the Commercial landscape is characterised by a promising supply of investment opportunities and an increasing emphasis on sustainability. The markets have seen much change over the past few years, particularly due to the impact of Covid-19, the changes that have been navigated have been significant. Learn more about upcoming market trends by clicking here.
Among the noteworthy transactions of the past year, we are pleased to have been exclusively appointed by Newcastle Airport as leasing agents for their industrial and commercial facilities, Astra Aerolab in Williamtown. The industrial site spans 1,000 to 2,000 sqm*, and the commercial site comprises six floors, with ground-floor retail outlets. Additionally, the upcoming sale listing of 54 Clyde Street in Hamilton North is noteworthy. The former Lampworks site, now a commercial business complex that generates approximately $2 million per year plus GST and consists of 2.11h* of building area on a 2.81h* site, is set to be a key property on offer for 2024. We are pleased to support a long-term client through the sale of this significant asset.
Elevating Asset Management with Innovation
Our commitment to excellence extends to our asset management services, showcasing a 44% growth in the number of properties under management. To meet this demand, we have expanded our team with seasoned professionals in asset management, administration, and finance, ensuring continued excellence amid our business expansion. As part of a significant 44% growth, we are pleased to highlight some of our new management clients who have joined us recently:
- 5-7 Coal Wash Drive, Mayfield West
- 275-279 King Street, Newcastle
- 112 Lake Road, Wallsend
- 15-17 Kennington Drive, Tomago
- 384 Wollombi Road, Bellbird
- 310 Hillsborough Rd, Warners Bay
- 1A Yangan Drive, Beresfield
- 250 Maitland Road, Islington
Ongoing Innovations
We take great pride in our commitment to innovation, which is reflected in our continuous adoption of new and advanced processes and technologies. We have been fortunate to have a dedicated data and business process innovations team to elevate our internal performance through the use of modern data science techniques and the latest market research.
Alongside this, we have integrated a modern asset management platform that provides the most updated lease management, facilities management, financial reporting, and owner/tenant portals available in the market.
As 2024 rapidly approaches, we are confident in our abilities and team to consistently deliver a high-quality service to our clients. For more information on our services, or if you would like to speak with our sales and leasing team, please contact us today.
