Update - December 2017
The Yearly Report Card: A+
Heading into the Christmas break and New Year period, it’s a good time to stand back and consider the results achieved during the past 12 months. Raine and Horne Commercial Port Macquarie has enjoyed an excellent period of business activity during this time and have negotiated 13 commercial sales and completed over 114 commercial lease transactions.
It’s interesting to note that property sales database RP Data/Core Logic records a total of only 20* completed (settled) commercial sales during the past 12 months, meaning Raine & Horne Commercial have captured 65% of the sales activity, outselling our competitors combined efforts.
* This does not take into account related party sales.
The majority of the sales we have negotiated were to owner/occupier purchasers who are either taking advantage of Self-Managed Super Funds (SMSF) or the record low cost of borrowing funds, compared to paying rental. Of the properties sold, industrial buildings were in the strongest demand.
Of the investment property sales, the property values ranged from $330,000 to $920,000 with the applicable yield rate between 6% and 7.7% nett, as investors continue to chase better returns on money, as compared to bank term deposits.
The majority of the lease transactions we recorded were for industrial premises, which is no surprise given the residential building boom. This was closely followed by office rentals. Retail leases were significantly lagging behind, due to the rise in popularity of Online shopping reducing the demand for bricks and mortar retail premises.
All in all, a great 2017 and a big thank you to all our clients for their business.
On behalf of the Directors and staff of Raine and Horne Commercial Port Macquarie, we wish you all a safe and Merry Christmas period and a prosperous 2018 !!!