Major growth in commercial gains

Written on the 30 November -1

Boisterous commerical property market comparable to major city growth

THE Gold Coast's steady population growth and broad range of infrastructure means it can now 'mix it' with the major cities in commercial property, says commercial property financier Balmain Commercial.

Directors George Vazey and Noel Pennell say the commercial property market continues to be boisterous, as it gains momentum with investment and acquisitions reamain strong.

"The Gold Coast is a desirable location with well-established businesses driving the economy and spurring investor confidence in commercial property," says Mr Pennell.

"A continuing market trend for active investors is to acquire under-developed and under-performing properties, refurbish and then put them on the market for lease and/or resale," he says.

"Interest rates also remain favourable to the investor, with longer-term fixed rates holding steady as a good sign for the future. Lease rental rates for quality property continue to hold firm and increase in line with the growth of the business sector.

"A range of new office blocks are making their way to the market place, providing a diversity of location, rental rates and owner-occupier strata acquisitions."

Balmain Commercial is one of Australia's largest commercial mortgage originators and managers, with more than $3 billion in settled loans annually and a total loan book exceeding $6 billion under management.

George Vazey, who founded Balmain Commercial Gold Coast nine years ago, says commercial property is tightly held, particularly in Southport and Robina.

"We expect this demand to continue into 2007, as an increasing number of investors look to the commercial property market as a sound investment option," he says.


Latest News

COCHLEAR R&D INVESTMENT DRIVES NEW PRODUCTS AND BOOSTS PROFIT AND REVENUE

COCHLEAR (ASX: COH) has boosted its 2017 full year net profit by 18 percent to $223.6 million and has forecast furthe...

WESFARMERS BOOKS BUMPER PROFIT BUT SUPERMARKET WAR HITS COLES' BOTTOM LINE

SUPERMARKET giant Coles has posted its biggest slide in earnings since it was acquired by Wesfarmers (ASX: WES) 10 ye...

TREASURY WINES UNCORKS SWEET $269M PROFIT DESPITE INVENTORY WOES

REVEALING the fruits of its past year of labour, Treasury Wine Estates (ASX: TWE) has posted a 55 per cent increas...

TATTS GROUP POSTS PROFIT AND REVENUE DROP ON FEWER JACKPOTS AND BAD WEATHER FOR RACING

TATTS Group (ASX: TTS) has posted a full year net profit loss of 5.7 percent and a revenue decline of 8.4 per cent as...

Related News

WESFARMERS BOOKS BUMPER PROFIT BUT SUPERMARKET WAR HITS COLES' BOTTOM LINE

SUPERMARKET giant Coles has posted its biggest slide in earnings since it was acquired by Wesfarmers (ASX: WES) 10 ye...

ANALYSTS PREDICT WHAT AUSSIE LIVING IS LIKELY TO BECOME IN THE NEXT CENTURY

AS THE Australian population continues to grow, analysts are predicting what the country is likely to look like wi...

SEVEN WEST REPORTS MASSIVE LOSS AND CUTS CEO TIM WORNER'S PAY PACKET BY $450K

SEVEN West Media (ASX: SWM) has posted a full-year loss of $744.3 million and cut CEO Tim Worner's pay packet by ...

HOW MAKING MISTAKES AND PASSION SCORED WEIGHT LOSS PARTNERS A DEAL WITH SHARK TANK'S JANINE ALLIS

THEY partnered up to provide a scientific and targeted approach to dieting, and Kate Save and Geoff Draper cut Sha...

BOOK YOUR FUNCTION SPACE HERE

 

 

 

Contact us

Email News Update Sign Up Contact Details
Subscriptions

PO Box 2087
Brisbane QLD 4001

LoginTell a FriendSign Up to Newsletter