Strong Commercial Activity

There is plenty of talk around that the Commercial market is pretty flat and more shops are becoming vacant than being filled within Bairnsdale CBD.

Yes, there are number of vacancies, but there has also been many leasing’s over the last months of retail, industrial and commercial buildings.

A lot of these are done ‘off the market’, that is they aren’t advertised, our team put together lessee’s with properties in a quiet, confidential manner.

A sign of the confidence being shown in the town is the recent leasing of the ex Spotlight building in Bairnsdale to a large retailer.  This leasing includes substantial works being done on the building.  The owners contracted Brooker Builders in conjunction with SLAP Architects to arrange the woks for the lessee.  The Commercial team at King and Heath worked tirelessly to get this deal together.

Also last month two (2) substantial office leasing deals comprising approximately 1200m2 of lettable space were conducted by our team in Bairnsdale.  Again these were done ‘off the market’.

In Paynesville, whilst nowhere as big as Bairnsdale, leasing activity has also been strong with three (3) new developed shops being leased by our company over recent times.

There are a number of well regarding tenants currently viewing our region at present and we are sure they will result in some substantial leasing agreements in the near future.

Commercial Sales continue to strengthen with yields starting to tighten for well located and leased properties.  Metropolitan investors are viewing our area closely as yields have become very tight in Melbourne and suburbs.  Recent examples of this includes our teams sales last month of the Foodworks Supermarket in Paynesville and two (2) retail investments in Bairnsdale totaling approximately $3 million all to Metropolitan based investors.

We are lucky to live in such a wonderful area with many natural attributes and a strong growing population base.

It is imperative our Commercial areas continue to grow and strengthen to support a growing population based now and into the future.

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