Des Besanko of Commercial Mackay says buyer activity remains strong across the region despite the higher interest rate environment. “Owner occupiers are seeking vacant properties, while investors are on the hunt for leased assets,” says Des. Across the broader Mackay market, Des sees all sectors of commercial property remaining steady through 2024. Yields typically range from 6.5% to 8.0% depending on the sector and asset, which is helping to attract investor interest in the region. The recent sale of 10 Grandview Drive, Mt Pleasant for $2.897 million presented a unique and rare opportunity for the Mackay team. The property was the popular Red Rooster Mt Pleasant Drive-thru, located in the North Mackay retail precinct. The land area is 1,900 square metres with a floor area of 237 square metres. It sold on a lean 6% initial yield. Looking ahead, Mackay is shaping up as a regional economic powerhouse, and one of the fastest growing local government areas in Queensland. The region benefits from a diverse economy fueled by the resources sector, resurgence in agribusiness, and growth in construction, logistics and tourism. Des Besanko des.b@rhc.com.au Mackay 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 $200-$300 $150-$200 $150-$200 Vacancy n/a n/a n/a Yields 7-8% 6.5-7.5% 7-8% Rates p/m² n/a n/a n/a Current market conditions $1,625,000 10/30-38 Margaret Vella Drive, Paget Recent Notable Transactions SOLD $2,867,000 10 Grandview Drive, Mt Pleasant SOLD 30 | Queensland
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