Raine & Horne Commercial

NSW - Wollongong Mathew Ivanoff of Commercial Wollongong says buyers in the area are looking for high quality investments with reasonable weighted average lease expiry (WALE). The region is recording yields averaging 7.0% plus for retail and office property, and 6.0% for industrial space. These yields are expected to remain stable though with the potential for retail yields to decline. At present, Mathew is seeing a vacancy rate below 3.0% for industrial assets, rising to 8.0% and 10.0% for office and retail assets respectively. Indeed, the industrial market is the star performer in Wollongong, with leasing activity remaining especially active. The team at Commercial Wollongong have achieved solid results despite the pandemic, including the recent sale of a heavy industrial site for $12 million, and the leasing of a 2,200 square metre new car service facility. 28 - Mathew Ivanoff mathew@rhw.com.au