Raine and Horne Commercial

NSW - Tamworth Bob Newlan of Commercial Tamworth says, “yields are in the order of 6% for office space, 8% for industrial assets and 7% for retail property”. He says retail in the areas has “stood up well through COVID-19”, and while the office market has stagnated, industrial property remains strong. As evidence of this, vacancy rates are about 2% for retail and industrial property, rising to 25% for office space. The team at Commercial Tamworth have successfully negotiated a number of key sales recently including 522 Peel Street, Tamworth, which sold for $1.6 million. With two long term tenancies in place with good leases, the property is showing a net annual return of 8%. A vacant block of 7,474 square metres with New England Highway frontage of 57 metres, and zoned 5B Business Development was sold to a developer for $950,000. 21 - Bob Newlan bob.newlan@tamworth.rhc.com.au