Raine and Horne Commercial

online retailing during the pandemic has fuelled demand for warehousing space. This is being coupled with an acute shortage of new industrial subdivisions, and along with demand from owner occupiers, the upshot is that industrial properties are selling fast – often for record prices, and in many areas we are heading towards an acute shortage of industrial assets. For anyone who owns industrial space, it is well worth speaking to your local Raine & Horne Commercial Property expert – you could be surprised at the market value of the asset, and now is a brilliant time to sell. The Brisbane Olympic Games Announcement To much fanfare in July, Brisbane was announced as the host of the 2032 Olympic and Paralympic Games. The Games will deliver economic and social benefits across Queensland with more than $8 billion in benefits for the Queensland economy and create 91,600 jobs. The Games of the XXXV Olympiad will also generate $17.61 billion in economic impact across Australia. The Games will benefit communities, tourism operators, sporting organisations and local businesses. 2032 will be a once-in-a-lifetime opportunity for many businesses large and small that could help set them up for years afterwards, and commercial property investors will also reap the benefits. Economic benefits, resulting from a Games-induced uplift in international tourism and trade, are estimated to be in the order of $4.60 billion, with a projected $8.50 billion in benefits at the national level. On a personal note, when Sydney hosted the 2000 Games Raine & Horne was appointed in 1998 by the Russian Olympic Committee as its sole property partner for the Sydney 2000 Games. This involved coordinating accommodation facilities for whole team including administrative support for one of the biggest visiting teams. While Queensland will reap massive benefits, there will also be plenty of value for other states and territories as plenty of training will be undertaken outside Queensland by countries with larger teams. For example, for the Sydney 2000 Games, the visiting Russian cyclists undertook pre-training in Adelaide, while the rowing team trained at a location on the mid north coast of NSW. Angus Raine Executive Chairman Raine & Horne Group