Craig Tait of Commercial Wagga Wagga says the Wagga Wagga commercial market continues to demonstrate strength especially in the industrial sector. “A lack of industrial land is putting supply pressures on established properties,” notes Craig. The recent lease by Craig’s team of 15 Houtman Street, Wagga Wagga, highlights the buoyancy of the region’s industrial market. The 974 square metre brand new warehouse with parking for 10 cars is located in the East Wagga industrial precinct. The retail and office sectors across Wagga Wagga have softened according to Craig, and vacancies have risen slightly in the past 12 months. That said, Craig expects vacancy rates and yields to hold steady in these markets through 2024. Craig and his team were able to secure the lease of 130 Baylis Street, Wagga Wagga – a 173 square metre retail property offering strong foot and vehicle traffic, and close proximity to the Sturt Mall and The Market Place. The Wagga Wagga region more broadly offers solid long-term prospects owing to its diverse economy, which encompasses tertiary education, logistics and defence. Craig Tait craig.tait@wagga.rh.com.au Wagga Wagga Office Industrial Retail Rents p/m² Vacancy Yields Rates p/m² Six-month market outlook Office Industrial Retail Rents p/m² $200-$400 $80-$140 $250-$500 Vacancy 10-12% 3-5% 5-10% Yields 7-8% 6.5-7.5% 6-6.5% Rates p/m² $3,000-$5,000 $2,000-$3,000 $2,000-$3,500 Current market conditions $150,000 p.a. + GST 15 Houtman Street, Wagga Wagga Recent Notable Transactions LEASED $60,000 p.a. + GST 130 Baylis Street, Wagga Wagga LEASED For more information, contact: New South Wales | 23
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