26 October, 2011
In a nod to hard work and experience, leading Eastern Suburbs commercial property agent Michael Laing has been elected to the Committee of the Real Estate Institute of NSW’s (REINSW) Commercial Chapter.
Mr Laing, principal of Raine & Horne Commercial Bondi Junction, brings over 25 years of commercial, industrial and retail property experience to the posting.
“Our firm has been keen on boosting its involvement with REINSW for some time, so in this sense, my membership on the committee is an important step, but personally, it is a good opportunity to network and learn from others,” Mr Laing said.
“It will also allow me to make a greater contribution to the REINSW on both a commercial and a residential level.”
Mr Laing has been appointed for a two year term, and will form an integral part of a group of nine members, whose role it is to represent the needs of REI commercial property professionals throughout NSW.
“As members of the REINSW Commercial Chapter, we will be keeping an eye on legislative changes and any other business developments which impact the commercial property industry and our members.”
Staying abreast of these developments is important in the competitive Eastern Suburbs commercial property market, says Mr Laing. “The Eastern Suburbs commercial market is traditionally very strong, with low vacancy rates in office and retail premises. It is important to keep our finger on the pulse because leasing is the ‘bread and butter’ of Raine & Horne Commercial Bondi Junction, together with a stronger owner-occupier market.”
Mr Laing said commercial property leases in Bondi Junction were available for between $350 and $600 per square metre (gross) per annum plus GST, with typical rents of between $380 and $500 per square metre per annum plus GST.
On the other hand, Bondi Junction’s mid-range retail premises could rent for $1,500 per square metre (gross) plus GST, depending on size and location.
Raine & Horne is an iconic Australian property firm, with more than 360 offices worldwide. Also an established Superbrand along with Qantas, Vegemite, Woolworths and Myer, the company has four distinct property service brands including Raine & Horne Residential, Raine & Horne Commercial, Raine & Horne Rural and Raine & Horne Financial.
For further media information contact:
Michael Laing, Principal Raine & Horne Commercial Bondi Junction on (02) 8383 9999 or 0414 606 035
Anna Truman, National Marketing & Communications Co-ordinator on 02 9258 5448