Raine and Horne Commercial

QLD - Brisbane North Trent Bruce of Commercial BrisbaneNorth says yields in the area have been achieving between 4.7% to 6.25% for all 3 categories of property; industrial, retail and office. According to Trent, “There is a strong shift for tenants tomove to owner occupier status due to the availability of cheap loans. This has seen the balance of affordabilitymove to owner occupation, with leasing generally beingmore expensive. For investors, returns on leased assetswill significantly outstrip bank returns, which is driving investor sentiment.” Trent adds, “Ourmarket is being influenced by strong interstatemigration, low interest rates and relative economic stabilitywhilst southern states have lengthyCOVID lockdowns. Our auction clearance rates for 2021 are approaching 90%, demonstrating the strength in themarket, andmany investors in themarket are based in Sydney andMelbourne. We expect these trends to continuewell into 2022.” Recent sales achieved by the Commercial BrisbaneNorth team include 27 BrightonRoad, Sandgate, a retail/office property comprised of 1,150 squaremetres on 786 squaremetres of land. Itwas sold fully leased tomultiple tenants providing a yield of 6.1%and a sale price of $5.1million. 52 JeffcottStreet, Wavell Heights, a primemulti-tenanted retail/office investment featuring 532 squaremetres of net lettable area, secured a sale price of $3.46million and a yield of 6.2%. 735 Sandgate RoadClayfield, a fully leased retail strip centrewas sold at Auction for $2.08million and a yield of 4.7%. In the leasingmarket, an 894sqm industrial warehouse at 3/225 Leitchs Road, Brendalewas leased for $140,000 per annumnet plus outgoings + GST a rate of $157 sqm, whilst a larger 1,550sqm industrial facility at 13 Robertson Street, Brendalewas leased for $209,000 per annumnet plus outgoings +GST, a rate of $135 sqm. A650sqmshowroom/office property at 37 Douglas Street, Miltonwas leased for $200 sqmwhile smaller properties such as a 72 sqmoffice at 140 Enoggera Road, Paddingtonwas leased for $430 sqmand a 102 sqmoffice/retail property at 249 Waterworks Road, Ashgrove leased for $392 sqm. 25 - Trent Bruce tbruce@rhcommercial.com