New South Wales | 23 Mathew Ivanoff of Commercial Wollongong says yields on commercial property in the region range from 5.5% for office space through to 6% for industrial assets and 7.5% for retail property. Overall, Mathew says it is “Positive to see a return of small business confidence purchasing and leasing larger premises following the end of COVID lockdowns.” He adds that light industrial property is highly sought together with multi-storey development sites surrounding the Wollongong CBD. The team at Commercial Wollongong recently secured the sale of a commercial building on the fringe of the CBD, for $13 million. A CBD development site was sold for $8.7 million, and a CBD entertainment precinct site secured a sale price of $9 million. As further evidence of the health of the local market, a waterside residential development site was sold for $8.1 million. Mathew Ivanoff mathew@rhw.com.au Wollongong
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