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

1700 BRISBANE APARTMENTS NOW MANAGED BY FORTUNE 500 COMPANY JLL

MULTINATIONAL and Fortune 500 company JLL (NYSE: JLL) has expanded its Australian dominance in the property managemen...

HARVEY NORMAN HITS OUT AT 'FALSE NEWS' OF ASIC INVESTIGATION

RETAIL giant Harvey Norman (ASX: HVN) has vehemently rejected reports its accounts are under investigation by ASIC, s...

RARE GOOD NEWS FOR SLATER AND GORDON AS ASIC CLOSES INVESTIGATION

ASIC has cleared Slater and Gordon of deliberately falsifying its accounts after a three-month investigation.

It s...

Q & A WITH FACEBOOK GURU ANDY MCKEON AS HE JOINS AUSTRALIAN SOFTWARE COMPANY LIVETILES

HE was creative director at Apple under the legendary Steve Jobs, and is now a senior Facebook executive. In his n...

Related News

RAY OF HOPE FOR SLATER AND GORDON AS LENDERS STEP IN

EMBATTLED law firm Slater and Gordon (ASX: SGH) has announced to the ASX that it has launched confidential discussion...

SPROUTX PROVIDES THE SEED FOR AGTECH STARTUPS

AGTECH innovation fund SproutX has opened applications for its first accelerator round, backed by $10 million from...

GAS PRICES MAY FORCE BRICKWORKS TO TAKE MANUFACTURING OVERSEAS

BRICKWORKS Limited (ASX:BKW) chairman Robert Millner says soaring energy prices may force the company to turn to offs...

CHINA CONTINUES TO COLLECT AUSSIE PROPERTY ASSETS

CHINESE coin continues to dominate Australia's offshore real estate investment market, accounting for almost h...

EVENTS COMING UP

 

Contact us

Email News Update Sign Up Contact Details
Subscriptions

PO Box 2087
Brisbane QLD 4001

LoginTell a FriendSign Up to Newsletter