Raine and Horne Commercial

NSW - Sutherland Shire As in so many regions, Anthony Bouteris of Commercial Sutherland Shire is seeing high demand for industrial assets, with buyers spanning “mums and dads, tradies, and owner occupiers moving from Botany and Alexandria.” Across the Shire, office property is dishing up yields of 3-5%, rising to 5-6% for both industrial and office assets. In the industrial market, Anthony says availability of stock listed for sale or lease is very low. “Industrial assets are very tightly held at the moment,” he notes. “Buyer demand for industrial is the highest it has been in a very long time, and was not affected at all during COVID-19.” He notes the average purchase rate for industrial assets in the Shire is around $4,000 per square metre for older premises, rising to $5,500 for brand new properties. The Shire is also seeing a shortage of office stock. Anthony explains, “We are experiencing increased inquiries for office space for properties up to 250 square metres.” Most enquiries are coming from the medical sector, with a preference for Miranda and Caringbah town centres. As a guide, a buyer in the medical field recently purchased a 110sqm office space in Miranda for $675,000. The 30-year-plus building includes two car spaces. 18 - Anthony Bouteris anthony@rhmiranda.com.au