Raine and Horne Commercial

QLD - Toowoomba Nick Koenig of Commercial Toowoomba says yields in the region are around 7.5%across the commercialmarket. He adds, “The market in general has been very upbeat and positive, with quality tenanted investments.” Vacancy rates for retail space are tight, and in the industrialmarket Nick says vacancy rates are at the lowest point in some time. In the officemarket, there is still space available. Nick explains, “We are seeing two distinct buyers in themarket place: Owner occupiers seeking propertywhichwould suit their business, and investors looking for quality tenanted propertieswith secure leases. Both are driven primarily by low interest rates.” Toowoomba and the DarlingDowns region has seen increased sales activity this year, chiefly due to low interest rates and zero lockdowns through 2021. “A lot of property that had been sitting on themarket for some time is nowbeing sold,” says Nick. “We are coming into a periodwherewewill be short of good quality stock to sell. Quality premises for lease are also starting to become scarce.” As a guide tomarket activity, 21Molloy Street, Torrington – a factory, warehouse and industrial property, sold for $2.09million to an owner occupier in an off-market cash transaction. Also in Torrington, a vacant 660 squaremetre factorywarehouse sold for $1.87 million to an owner occupier. InDalby, 69Drayton Streetwas leased toWesternDowns Regional Council for the town library at $159,500 per annum. AndrewLynch, Principal of Raine&Horne Commercial Toowoomba, states, “It’s exciting to see Australia’s regional powerhouse of Toowoomba go fromstrength to strength asmore andmore projects become public, the latest being the Boeing unmanned drone facility, which is joining themultitude of projects underway.” 30 - Nick Koenig nick.koenig@rhc.com.au