Regional towns such as Tamworth are squarely in the sights of commercial property investors. To meet growing demand, real estate agent Bryan Bolitho has launched Raine & Horne Commercial Tamworth.
Mr Bolitho, who is also proprietor of leading residential property firm Raine & Horne Tamworth, said it was an excellent time to launch the new venture as the local commercial market was healthy.
“Returns are solid because of the scarcity of available commercial properties for sale,” Mr Bolitho said.
“The Tamworth CBD sells in the vicinity of 7% net yields, which is very good for a regional city.”
Industrial properties in particular are in short supply according to Raine & Horne Commercial Tamworth manager Bob Newlan, who joined the group from a rival Tamworth commercial agency. He is also well known locally from his work as a Prime television executive.
“Industrial property precinct Taminda has exploded over the last five years. Where buyers were paying $40 to $50 per sqm, now it is possible pay $100 per sqm for near new industrial sites,” Mr Newlan said, who indicated Tamworth was attracting increasing interest from Brisbane and Sydney-based investors.
On the retail front, space is available from $700 per sqm in Peel Street because of scarce supply. Office space is also in short supply, which is underpinning values.
Mr Bolitho said there were several competitors in Tamworth’s commercial property market but added there was plenty of room for a new player.
“We will bring the professionalism and experience of Raine & Horne Commercial Tamworth to the commercial market and will deliver the highest level of service to investors, lessors and lessees.”
Raine & Horne CEO Angus Raine said the new Raine & Horne Commercial Tamworth office was set to be a first-rate addition to the exceptional network of 30 offices across Australia.
"Our commercial arm is expanding rapidly and has opened offices in Dee Why, Gosford and the Gold coast and will be opening in Bondi Junction, Homebush and the Sydney CBD by the end of this year.
“Brian and Bob are well-known for their commitment to the local community and will promote Tamworth to investors as a worthy place to park investment capital in the local office, industrial and retail markets.”
For all your commercial property needs contact Raine & Horne Commercial Tamworth on (02) 6766 2828.
Raine & Horne is an iconic Australian property firm, with more than 400 offices worldwide. Also an established Superbrand along with the likes of Qantas, Vegemite, Woolworths and Myer, the company has four distinct property service brands including Raine & Horne Residential, Raine & Horne Commercial, Raine & Horne Financial Services and Raine & Horne Rural.For media information:
Raine & Horne Commercial knows local and regional property markets intimately, with the support and systems of a long-established national and international property group. Our clients benefit from our network strength, which allows substantial cross-flow of international referral, advice and investment.