20 | New South Wales Anthony Bouteris of Commercial Sutherland Shire, says yields range from 4-5% on retail and office assets, with a range of 3.5%-4.5% on industrial property. According to Anthony, “Owner occupiers, especially tradies, are still fueling demand for industrial assets. Also, we are seeing demand from companies located close to the city that are looking at relocating to cheaper office space in the Shire.” Retail leasing has picked up in the Shire, and the team at Commercial Sutherland Shire have leased in excess of $450,000 per annum in retail leases over the last two months. Industrial sales and leasing is the tightest it has ever been in the Shire says Anthony, driven partly by a shortage of industrial land in the Sydney metro area. Anthony’s team, for example, just leased Unit 1/10 Northumberland Drive, Caringbah for $250 per square metre net. Demand for office space to purchase has increased in the last two months, with good signs the sector is recovering well after COVID. Anthony Bouteris anthony@rhmiranda.com.au Sutherland Shire
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