RH Dubbo Commercial Real Estate Report
The commercial dep’t of R&H deals exclusively with the sale, lease and management of retail, office, industrial, and special purpose use properties, where we have had experience in the local market for over 35 years.
This calendar year has seen an upturn in activity across all the commercial property sectors, with leasing enquiry and commitment being particularly pleasing, evidenced by R&H having leased, or in negotiation on properties that have sat on the market for an extended period. Increased demand has seen the asking rents being realised and excessive incentives less achievable. Typical leases have been; 62 Bultje St, 2/27 Bultje, 18 Cobra St and 70 Talbragar St, these leases have been to health, office, food and retail users
Strong commercial property sales are contingent on strong lease covenants, or interest from well-resourced owner occupiers; sale evidence is the successful auctions of an industrial shed at 84-86 Myall St at a yield of 6.77% and 43 Macquarie St on a net 8.4% yield to investor interests and 80 Macquarie St to a local retail outlet.
Of particular interest to the investor chasing yield, is the auction of 43 Douglas Mawson Road on July 29, at our R&H rooms; offered with a lease back to current occupants, Ivers air-Conditioning on a 5 + 5 year term with commencement rent of net $72,300 + GST, the sale is likely to realise a total return in excess of that achievable on competing investment alternatives. Also of interest to the owner occupier, is 5R transport Drv Brocklehurst; for sale at $775,000 + GST, the property offers an approximately 4850sqm site and 1390sqm of near new warehouse space.
Please contact Grahame Allan - 0429 155 683, or Chilton Simpson - 0427 459 151 for any your enquiries.