Raine and Horne Commercial

NSW - Liverpool Bruce Schell and the teamat Commercial Liverpool are seeing continued strong demandmainly in the industrial sector. Bruce says, “Interest is strong for all types of industrial assets whether freestandingwarehouses or strata units and vacant land, andwe’re seeing pent-up demand for investment sales.” Robust demand for both leasing and sales will continue through the foreseeable future according to Bruce. Industrial sales indicate yields of around 4-5%, with demand especially strong around the Badgerys Creek airport site. The office market is patchy across both sales and leasing. Demand is steady for smaller offices (sub- 150 square metres) to buy or lease, as population growth increases the need for professional services. This is further heightened by the redevelopment of the Liverpool Hospital, withmedical specialists planning to obtain space close to the hospital. The office market has a steady supply of B and C grade space, with newA-grade developments planned for the CBD over the next three to five years, including Liverpool Council’s Civic Place tower. In the retail sector, leasing and sales activity has been subdued as a result of the pandemic. On the upside, Bruce believes smaller retail space within the CBD “will refresh given the diverse communities who are seeking specialty shops”. The future of the Liverpool CBD is underpinned by growth in the health and education sectors. Alongwith the surge in activity from the Badgerys Creek Airport, Liverpool will likely benefit frombusinesses seeking logistical and administrative premises backed by the potential upgrade of Elizabeth Drive adjoining the M5 andM7 links. 14 - Bruce Schell bruce.schell@rhc.com.au