Raine and Horne Commercial

NSW - Port Macquarie The North Coast market remains buoyant, and as Graeme Garrett of Commercial Port Macquarie observes, “There is a lot of capital looking to find a home in commercial property”. Across the region, retail property is yielding 5.5-6.0%, while industrial assets are yielding 6-7%. In the office property market, yields are in the order of 6.5-6.75%. Graeme expects these yields to remain stable through the remainder of 2021. Graeme notes, “Stock of all levels and grades is generating good interest from both investors and owner occupiers”. This is leading to very low vacancy rates, ranging from as little as 2% on industrial assets to as low as 3% for retail and office properties. As an indicator of the health of the North Coast market, 20 Fernhill Road, Port Macquarie recently sold for $1.830 million with vacant possession. Situated on a 3,414sqm lot, the substantial factory premises includes office and residence, with total warehouse area of 1,600sqm plus a mezzanine floor area of 158sqm. The 3-bedroom residence above the office is accessed independent of the factory/ office allowing for potential sub-leasing. 17 - Graeme Garrett ggarrett@rhcpmq.com.au