Raine and Horne Commercial

QLD - Gold Coast Michael Parisi of Commercial Gold Coast says yields on the coast range from 3-5% for retail space, 6-7% for industrial assets, and 8%-plus for office property. According to Michael, industrial property is experiencing vacancy rates of 5% or less. Office vacancy rates are around 12%, and retail space – especially around tourism centres such as Surfers Paradise, is experiencing higher vacancy rates reflecting the impact of border closures. Michael notes that leasing and sales remain strong across the commercial market, and stock levels are “at an all time low” outside of Surfers Paradise. He believes this will lead to opportunity in the Surfers Paradise space for local brands to come back into a market they were previously priced out of by tourism-based traders. As a guide to the market buoyancy, two retail freehold properties on Chevron Island both sold for 20% over the reserve via a tender campaign. 27 - Michael Parisi michael.parisi@rhc.com.au