Strong yields spark Sydney’s commercial property market: Raine & Horne Commercial
7 April, 2011
Strong yields spark Sydney’s commercial property market: Raine & Horne Commercial
Healthy yields of up to 10% are encouraging savvy buyers to return to commercial property after a GFC-inspired hiatus, says leading commercial property group Raine & Horne Commercial.
Raine & Horne Commercial CEO Angus Raine said the best office, retail and industrial premises under $5 million were being snapped up quickly by self-managed super funds and owner-occupiers.
“Since late 2010 we have seen increased numbers at our City Auction Rooms, while clearance rates are at healthy levels," Mr Raine said.
“Additionally, the attractive yield spread on offer from 5% to 10% where there is a development upside, is proving a significant lure for investors.”
In response to the demand for quality Sydney commercial property, Raine & Horne Commercial is staging its inaugural ‘Under the Hammer Auction Day’ on Tuesday 12 April 2011, at City Auction Centre, 55 Harrington Street, Sydney.
Starting at 10.30am, the multi-property commercial auction will showcase seven commercial properties from locations such as inner-city Annandale and Blacktown in the western suburbs.
“There will be a childcare centre, an industrial development, as well as a mixed residential/retail property up for grabs,” Mr Raine said.
According to Mr Raine, the auction represents an exciting first for Raine & Horne Commercial, and will introduce investors and owner-occupiers to several fantastic entry-level fringe CBD properties that would be an impressive addition to any investment portfolio.
“Whether you’re looking to secure an affordable investment for a self-managed super fund, an industrial development opportunity, or a shop and residence to own and occupy, the auction will have something for everyone,” he said.
“The fact that we will be bringing this fantastic range of properties together under one roof again highlights the strength and breadth of the Raine & Horne Commercial brand in the Sydney commercial property market.”
April’s auction is expected to be the first of many, with Raine & Horne Commercial planning a quarterly combined commercial auction at the City Auction Centre.
For all your property needs contact Raine & Horne Commercial on (02) 9258 5400.
Table: Under the Hammer Auction Day properties
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Address |
Office |
Contact/s |
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Luke Smith 0416 281 577 or Nicholas Smith 0407 787 288 |
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Michael Fragakis 0402 250 067 or Luke Smith 0416 281 577 |
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Rebecca Lopez 0417 689 917 or Luke Smith 0416 281 577 |
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Luke Smith 0416 281 577 |
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George Bouteris 0404 079 559 or Anthony Bouteris 0401 902 809 |
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Duarte Figueira 0417 277 177 or Penelope Marshall 0410 804 182 |
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Jayne Edwards 0435 008 268 or Chris Norton 0419 903 033 or Garry Strong 0411 479 730 |
Raine & Horne is an iconic Australian property firm, with more than 360 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.
-ENDS-
For further media information contact:
- Angus Raine, CEO Raine & Horne on (02) 9258 5422 or 0409 920 697
- Anna Truman, National Marketing & Communications Co-ordinator on 02 9258 5448
- Ben Lindsay, Raine & Horne Commercial on (02) 9258 5421 or 0407 455 660