As a result of the global pandemic, Hervey Bay has seen a rapid population increase in recent years. With the CBD Master Plan currently underway and projected to guide the growth and improvement of the area over the next 20 years, Hervey Bay will broaden its employment and economic opportunities which in turn will drive commercial buying and leasing activity. According to Graham Cockerill of Raine & Horne Commercial Hervey Bay, this will create a wealth of new opportunities for local businesses, developers, and investors. “Hervey Bay will continue to benefit from increasing tourism which enhances demand for commercial property assets, further stimulating the local economy,” says Mr Cockerill. The CBD is poised to be the region’s principal centre of business and commerce with access to a wide range of amenities which will be a key attraction for investors and businesses in the months ahead. Graham Cockerill graham.cockerill@herveybay.rh.com.au Hervey Bay Office Industrial Retail Rents p/m² Vacancy n/a Yields Rates p/m² n/a n/a n/a Six-month market outlook For more information, contact: Office Industrial Retail Rents p/m² $240-$400 $170-$200 $280-$330 Vacancy 5% 15% 10% Yields 6.5-7% 8-10% 8-9% Rates p/m² $4,300 $1,900-$2,000 $2,500 Current market conditions $35,000 p.a. 207 Bazaar Street, Maryborough Recent Notable Transactions LEASED Price Confidential 5/16-18 Driftwood Court, Urangan SOLD Queensland | 29
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