46 | Insights H1 2025 Graham Cockerill of Commercial Hervey Bay reports that the region’s commercial real estate market continues to thrive, driven by ongoing population migration from NSW and Victoria. Notably, the influx from Victoria has been further supported by the launch of three direct flights per week from Melbourne to Hervey Bay, which began in mid-2024. According to Graham, the recent addition of a new Bunnings facility, and the opening of a Spotlight outlet, have significantly boosted retail stock levels in the area. These developments have, in turn, attracted other major retail brands, including AMART, BCF, and SuperCheap Auto, some of which have relocated to the site previously occupied by Bunnings. Fraser Coast Council has approved the development of a largescale Sheraton hotel/apartment on the Hervey Bay Esplanade, which is expected to further stimulate demand for retail space, particularly from new cafés and restaurants. The creation of new jobs helps to drive economic growth and investment, providing a huge boost to nearby businesses. Graham says plenty of investors are looking for commercial properties with a good tenant in place and robust returns. He is also seeing strong levels of enquiries from start-up businesses seeking to lease shops. Graham Cockerill graham.cockerill@herveybay.rh.com.au Hervey Bay 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 $240-$400 $165-$185 $250-$350 Vacancy 8% 10% 10% Yields 6.5-7% 7.5-9% 7.5-8% Rates p/m² $4,300 $1,900-$2,000 $2,500 Current market conditions Price Confidential 1/383 Esplanade, Torquay Recent Notable Transactions SOLD Price Confidential 86 Elizabeth Street, Urangan SOLD
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