10 | New South Wales Michael Buium says that in Sydney’s Eastern Suburbs market, current average yields are 3.5% for industrial property, rising to 4.5-5% for office space and 5% for retail properties. Michael explains that industrial buyers are mainly owner occupiers, and even investors are happy to look at vacant warehouses as they know that they can achieve a strong rental outcome. In the retail market, a property needs to be leased to a strong tenant otherwise it can be challenging to achieve a result. That said, Michael adds, “We have healthy signs especially in hospitality that tenants want to go back to business.” As a guide to the market, Michael and the team at Commercial Bondi Junction leased an office terrace in Potts Point for $290,000 per annum. Michael Buium michael.buium@rhc.com.au Bondi Junction
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