Raine and Horne Commercial

SA - Commercial According to David Ente of Commercial South Australia, current yields in Adelaide are around 4-6% for industrial property, 5-6% for retail space and 5-7% for office assets. Unlike many other states, South Australia has experienced no lockdowns through 2021, and David says it’s been a case of ‘business as usual’ in the commercial property market. Low interest rates are a key driver of the market, and this is fuelling strong demand from both investors and owner occupiers. David is seeing increased demand for industrial property in particular, with some manufacturing gearing back up. Recent sales by the Commercial South Australia team include 4 Smart Road, Modbury for $3.35 million. This office property enjoys great exposure to Smart Road and good visibility to North East Road, and includes 905 square metres of space on a land area of 685 square metres. The property is leased to a variety of tenants operating in the medical, legal and finance professions. David and his team also secured the lease of a 4,000 square metre warehouse in Wingfield for $480,000 per annum. 32 - David Ente david.ente@rhc.com.au