7 October, 2010
Raine & Horne Commercial Brisbane North was among the big winners at leading real estate group Raine & Horne’s prestigious annual National Awards conference, held recently at the exclusive Sanctuary Cove on the Queensland Gold Coast.
The leading real estate firm was named the best Commercial Office for sales based on dollar value, while principal Trent Bruce won an award for the number of commercial auctions listed in 2010.
Sales agent Hudson Dale was named Raine & Horne Commercial’s leading sales person for number of leasing transactions, and grabbed third for leasing transactions based on dollar value.
Trent Bruce and Lawrence Temple were also inducted into the exclusive Raine & Horne ‘Chairman’s Club’ on the night.
Mr Bruce said Raine & Horne Commercial Brisbane North’s performance was especially notable given the inconsistency of the commercial market in the Queensland capital.
“The sales market is up and down, while leasing represents approximately 80% of all transactions in the current market,” Mr Bruce said.
“This is a sign of the uncertainty in the marketplace largely due to the impact of the GFC and the difficulty in borrowing due to the recent strict bank lending criteria placed on commercial buyers.”
Mr Bruce said many businesses were yet to be totally convinced that the global economy was completely out of the woods.
"However, we are now experiencing an increase in enquiry across all commercial, retail and industrial property sectors," he said.
Mr Bruce nominated commercial precincts about 10 kilometres from the CBD as the markets to watch, and which were already generating good numbers of leasing transactions.
At the same time, he said that after a few fits and starts, Brisbane’s commercial sales market was at the bottom of the sales clock and trending up.
“Demand is quite active for quality, value for money, product on the sales front. If you need further evidence that sales are looking up, income returns have softened with quality premium properties generating yields of up to 7.5% - 8%, while secondary properties are scoring yields as high as 9% which is a significant change from yields as low as 6 % - 7% for quality properties a few years back.”
“As counter cyclical devotees will tell you, now is definitely the time to buy a commercial property in Brisbane."
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 further media information contact:
Trent Bruce, principal Raine & Horne Commercial Brisbane North on 07 3352 8900 or 0423 591 528
Anna Truman, Marketing & Communications Co-ordinator on 02 9258 5448