Raine and Horne Commercial

INSIGHTS SPRING 2018 | 14 Des Besanko of Commercial Mackay says increased interest in industrial properties and an upturn in local industry, is pushing yields on industrial assets to around 9.0%. Reflecting this, vacancy rates on standalone properties are as low as 1.0% rising to 5.0-6.0% for strata units. Vacancy rates are higher for other types of commercial assets, though Des says affordable entry prices are creating opportunities for owner occupiers to own their premises. A tightening of bank lending has been problematic for buyers to bid at auction, and in the current market sale by expression of interest is the preferred option. He adds, “Following increased activity in mining and primary industry services we have very low vacancy rates, which is finally turning into land sales and new building opportunities.” According to Des, “The outlook is very good for industrial properties in Mackay. Commercial property is ideal for investors with a buy and hold approach – entry prices are low and there are plenty of opportunities for refurbishment.” Mackay QLD | Mackay “ Following increased activity in mining and primary industry services we have very low vacancy rates, which is finally turning into land sales and new building opportunities. ”