Hutchinson Builders expands into Newcastle CBD with off-market lease

Newcastle, NSW, October 2026 – Multibillion-dollar construction company Hutchinson Builders has expanded its Newcastle presence into the CBD, securing 430sqm at 336 Hunter Street through an off-market lease negotiated by Commercial Collective Executive, Max Dawes. The property has been leased on a three-year term, with a further three-year option. The commitment adds a city-centre base to Hutchinson Builders’ existing regional footprint, which includes its modular production facility at Heatherbrae. 

Mr Dawes said the decision to secure CBD premises represented a positive commitment from an established national business. “Hutchinson Builders already operates in the region, so this new location just further strengthens that presence with a base in the city centre,” Mr Dawes said. “For Newcastle, having a business of this scale commit to commercial premises is encouraging and adds to the mix of organisations operating from the CBD.” 

The MU1 Mixed Use property features a glazed street frontage and a prominent fig tree beside reception, giving the building a distinctive identity along Hunter Street. The agreement followed a two-year search by Hutchinson Builders for suitable premises. Mr Dawes identified the property and approached its owners prior to their planned marketing campaign, securing an outcome that met the tenant’s requirements and avoided a long campaign for the owners. “The building aligned with a brief that had been difficult to satisfy through the available properties on the market,” Mr Dawes said. “We were able to secure the right premises for Hutchinson Builders while providing the owners with an established national tenant before marketing commenced.” 

The transaction comes amid a selective Newcastle office leasing market, where demand varies according to the quality, location and functionality of individual buildings. Property Council of Australia figures show Newcastle’s office market recorded 6,970sqm of net take-up in A-grade accommodation over the year to January 2026. Overall vacancy increased from 14.9% to 15.6% as new supply outpaced demand. 

Commercial Executive Joe Olsen added that these conditions highlighted the importance of assessing the market at an individual property level. “Headline vacancy figures only tell part of the story. Businesses are weighing up how a location and building will support their operations, staff and client relationships, alongside the overall cost of occupation,” Mr Olsen said. 

“There are opportunities for owners of established CBD properties, but the offering needs to be well understood and positioned against competing space. This result demonstrates that a suitable building can attract a substantial occupier when the property and business requirements align,” Mr Dawes said. “In this case, an extended property search and a vacant building were resolved through an opportunity that wasn’t publicly advertised. Knowing where that demand sits, and which buildings can accommodate it, can make a material difference to a leasing outcome.”

To discuss leasing your commercial property or finding premises for your business, contact Commercial Collective for tailored advice and local market insight.

For further information on this lease, contact Max Dawes on 0414 668 036 or [email protected].