As Ray White Commercial Gold Coast readies to host its Commercial Event Auction, director Greg Bell is confident strong buyer interest indicates a strengthening commercial market.
On February 20, the commercial auction will see 14 properties go under the hammer, including a range of industrial-warehouse properties, strata-titled office suites, development sites, and retail premises, in addition to a collection of six full-leased luxury apartments that are being liquidated by the developer.
In a promising sign ahead of this week’s auction, two properties have already sold – a central Southport office space on Lawson Street as well as a medical building on Kennedy Drive in Tweed Heads West.
Mr Bell said the recent sale combined with interest from both investors and owner occupiers is a positive indication of the strengthening commercial market.
“The market is producing a number of investors hungry to capitalise on higher yields which creates a great environment from a sales perspective,” Mr Bell said.
“Strong market conditions and the low interest rate environment makes this a great time for investors to secure a solid investment opportunity.
“Owner-occupiers are set to benefit too with low borrowing costs allowing them to secure new business premises and end up on the front foot afterwards,” he said.
Mr Bell said, like residential sales, the commercial market is also attracting interstate buyers who are drawn to the lifestyle on offer on the Gold Coast.
“We’re seeing a number of buyers keen to make the move, relocate their business and capitalise on the great lifestyle we have here,” he noted.
“This is something we’re really starting to see across the industrial sector and we expect to continue to field interest from this area of the market.
“All in all, the level of interest we’ve received both locally and interstate is strong and we look forward to taking these properties to auction next week,” he said.
The commercial auction program includes listings from Ormeau in the Gold Coast’s north to Tweed Heads in the south.