Raine & Horne Commercial

QLD - Gold Coast According to Michael Parisi of Commercial Gold Coast, retail properties on the Coast are yielding 6.0-7.0%, a figures that rises to 8.0% for both industrial and office yields. These yields are expected to hold firm through the remainder of 2020. Michael explains that border lockdowns have had a significant impact on the tourism-driven sectors of the Gold Coast. That said, industrial property has been the standout performer, with a vacancy rate of just 5.0%, well below the double digit vacancy rates experienced by retail and office space in some areas. Despite the challenges of COVID-19, the team at Commercial Gold Coast have notched up healthy sales results recently. This includes 58 Brooke Street, Southport – a mixed commercial and residential property that sold for $7.5 million. A set of Palm Beach retail assets sold for $3.5 million. 32 - Michael Parisi michael.parisi@rhc.com.au