New South Wales | 21 Bob Newlan of Commercial Tamworth says yields in the area range from 6% on retail property through to 7% on industrial assets and 8% on office stock. “In the face of the poor weather and the impact of COVID 19, the Tamworth market remains strong,” says Bob. “The issue we have is the shortage of product at present. Otherwise the market is sound.” Bob says demand remains strong for industrial property but supply is now quite low. Retail activity, whilst impacted by COVID in recent times, remains strong, supporting low vacancy rates in the retail property segment. In the office market, demand is moderate, and Bob says “supply is satisfactory.” As a guide to the health of the Tamworth market, the team at Commercial Tamworth secured the sale of 12 Kingsford Smith Street, Tamworth – an industrial factory, for $780,000 or 5% net return. 181 Marius Street, Tamworth was sold as a development site in the CBD for $1.9 million. An investment site at 82 Brisbane Street, Tamworth was sold for a 7% net return. In the leasing market, 329 Peel Street, Tamworth was leased for $75,000 plus GST gross per annum. Bob Newlan bob.newlan@rhc.com.au Tamworth
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