Raine and Horne Commercial

NSW - Port Macquarie Graeme Garrett of Commercial Port Macquarie says yields in the region range from 5.5-6.5% for retail property, rising to 6-7% for both industrial and office assets. Vacancy rates are low across Port Macquarie, ranging from 3-5% for retail and office space, and dropping to a very tight 1-3% in the industrial market. Describing the strength of the local market, Graeme says, “Vacant possession industrial buildings are in strong demand as well as tenanted commercial and industrial buildings.” Recent successes by the Commercial Port Macquarie team include the lease of the entire ground floor comprised of approximately 1,354 squares metres at 35 Grant Street, Port Macquarie. The team also secured the sale of 10 Karungi Crescent, Port Macquarie for $1.023 million. The property – sold with vacant possession, includes land area of 1,290 square metres, and a main building of 288 square metres, incorporating a reception, lunch area and prep room/office on ground level plus an additional mezzanine storage level as well as high bay open warehouse space. 19 - Graeme Garrett ggarrett@rhcpmq.com.au