Raine and Horne Commercial

31 | INSIGHTS SPRING 2018 NSW | South Coast In the Illawarra, commercial properties are recording yields of 6.50-7.5% though this is expected to fall for office space as newly completed developments have delivered an extra 3,000 square metres to the market. Vacancy rates range from 7.0-8.0% on industrial assets, rising to 10.0-15.0% on retail and office properties. Mathew Ivanoff of Commercial Wollongong says, “Industrial warehousing is seeing good levels of take up, and until recently supply has been minimal.” The Illawarra is benefi ing from a number of infrastructure projects that will support the commercial property market. Among them are the Albion Park Rail bypass and the Princes Highway upgrade at Gerringong, which will provide 7.5 kilometres of upgraded highway. The Berry to Bomaderry upgrade will create an additional 10.5 kilometres of four-lane highway to the south of Wollongong. Wollongong “ The Illawarra is benefi ing from a number of infrastructure projects that will support the commercial property market. ”