Raine & Horne Commercial Toowoomba will be led by Andrew Lynch, principal of Raine & Horne Toowoomba, the group’s best Queensland office based on number of sales and transaction dollar value.
The new office will be located in a purpose-built facility at the rear of 611 Ruthven Street, Toowoomba.
“Raine & Horne has been part of the furniture in Toowoomba for many decades now,” Mr Lynch said.
“So it makes sense that we should bring Raine & Horne Commercial’s full-service network, with its broad suite of commercial, industrial and retail property services including sales, leasing, consulting, business broking, business recovery & insolvency facilities and asset management services, to Toowoomba,” said Mr Lynch.
“We have commercial real estate experience, local business contacts and knowledge via our commercial sales manager Nick Koenig and myself; however, we wanted access to national and international buyers and investors, which Raine & Horne Commercial will deliver in spades.”
Mr Lynch added that the growth of self-managed super-funds seeking the higher yielding commercial real estate investments was central to the decision to launch Raine & Horne Commercial Toowoomba. Average yields are currently 7.0 to 8.0 per cent for retail and office property in Toowoomba, rising to 8.0 to 8.5 per cent for industrial property, according to Raine & Horne Commercial Toowoomba.
“We have a very successful stable of residential property investors at Raine & Horne Toowoomba who are diversifying into industrial, retail and office assets, and we will continue to service their real estate needs.”
Raine & Horne Commercial’s recent sales successes also encouraged Mr Lynch to launch the new business.
“The commercial network has completed a consistent number of major transactions in 2017, such as the sale of a bulky goods industrial site in Auburn in Sydney for $65 million and the $22 million sale of Gold Coast retail icon Piazza on the Boulevard.
“We all want to be part of something bigger and an energetic group. I always want to align with people who have a vision and are not looking in the rear vision mirror. The massive Sydney and Gold Coast sales have validated our decision to join Raine & Horne Commercial.”
Angus Raine, Executive Chairman of Raine & Horne Commercial, said, “For more than 130 years, Raine & Horne has been assisting Australians achieve their commercial property objectives, so it’s exciting that we’re raising the flag in Toowoomba, which is one of Queensland’s fastest growing regional population hubs.
“Over the last 35 years, Raine & Horne Commercial has been an active market participant and is now the largest commercial property group in Australia, with over 35 offices servicing every state capital [and] key regional growth centres such as Toowoomba and the Asia-Pacific region,” said Mr Raine.
