The Townsville commercial property market remains strong due to continued population growth and high demand notes Peter McCann of Commercial Townsville. “Demand is strong across most sectors, and property values have enjoyed a steady increase over the last 12 months,” says Peter. “There has been a rise in building costs, which is causing the value of secondary buildings to increase. This, coupled with a short supply of available stock, is fueling enquiries”. According to Peter, the Townsville region is still seeing a strong contingent of owner occupiers looking to purchase locally. In addition, the Mackay team is experiencing a high level of interest from investors outside the region. The sale of 222 Flinders Street, Townsville City attracted plenty of interest. Situated on a 730 square metre site with a floor area of 194 square metres and two car spaces, the heritage retail building boasts a prime position on Flinders Street East, with the first floor tenanted until 2025. The $730,000 selling price represents a great result for the city. Peter McCann peter.mccann@townsville.rhc.com.au Townsville Office Industrial Retail Rents p/m² Vacancy Yields Rates p/m² Six-month market outlook Office Industrial Retail Rents p/m² $200-$350 $120-$150 $200-$400 Vacancy 20-25% 5% n/a Yields 8-9% 7.5-8.5% 8-9% Rates p/m² $2,500-$3,000 $1,800-$2,200 $2,500-$3,500 Current market conditions $730,000 222 Flinders Street, Townsville Recent Notable Transactions SOLD $330,000 Lot 13/16-24 Brampton Avenue, Cranbrook SOLD For more information, contact: 32 | Queensland
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