Raine & Horne Commercial

NSW - Inner West/South Sydney Across Sydney’s Inner West, yields range from 4.0% for both retail and industrial assets through to 5.0% for office space. Luke Smith of Commercial Inner West/South Sydney expects these yields to remain steady for the rest of 2020. The Inner West is maintaining solid ground even during COVID-19. Vacancy rates are as low as 4.0% for industrial property, rising to 10.0% and 11.0% for office and retail assets respectively. Reflecting the strength of the local market, the team at Commercial Inner West/South Sydney have achieved considerable sales success despite COVID-19. As a guide, 254 square metre shop and retail premises situated on a prime 904 square metre corner site with an abundance of parking sold at auction for $2.98 million. The sale campaign attracted 128 logged buyer enquiries, with contracts issued to 16 buyers. The auction was well-attended with 98 bids placed (over $1 million worth of bidding), and a sale result well above the vendor’s reserve. In addition, a single level industrial building of approximately 560 square metres, at 50-52 Shepherd Street, Marrickville attracted plenty of buyer interest, selling for $30,000 above the asking price. 15 - Luke Smith lsmith@rhcss.com.au