Anthony Bouteris of Commercial Sutherland Shire says The Shire’s industrial market is proving to be a “consistent performer” with several significant sales rounding off 2023. The industrial sector is also experiencing tight vacancy levels, which is driving rents higher. The team at Sutherland Shire secured the sale of 1107 Old Princes Highway, in the heart of Engadine, for $3.025 million representing a 5.5% net return. This freestanding property, which is purposed as a medical centre, highlights the appeal of specialist suburban properties such as medical centres, which are typically recession-proof. The off-market sale also highlights the health of the market, and the breadth of Raine & Horne’s contacts, which allowed the team to rapidly connect with buyers within a short time of the Engadine property becoming available. Anthony’s team were able to draw on their contacts with the off-market sale of 69-71 Elouera Road, Cronulla. Antony says the block of 11 residential apartments located one block from the beach was sold in one line. Anthony Bouteris anthony@rhmiranda.com.au Sutherland Shire Office Industrial Retail Rents p/m² Vacancy Yields Rates p/m² Six-month market outlook For more information, contact: Office Industrial Retail Rents p/m² $300-$320 $220-$300 $500-$1,000 Vacancy 30% 10% 30% Yields 5-6% 5-6% 6-7% Rates p/m² $5,000-$6,000 $6,000-$9,500 $8,000-$10,000 Current market conditions Price Confidential 69-71 Elouera Road, Cronulla Recent Notable Transactions SOLD $3,025,000 1107 Old Princes Highway, Engadine SOLD New South Wales | 21
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