Newspaper article Sunshine Coast Daily (Maroochydore, Australia)

Hopeful Signs on Commercial Front

Newspaper article Sunshine Coast Daily (Maroochydore, Australia)

Hopeful Signs on Commercial Front

Article excerpt


with Len Greedy, Ray White Commercial Caloundra

WHAT a bizarre beginning to 2015: a category-five cyclone ripping up the Queensland coastline last week, leaving a trail of destruction, a state election with a result not predicted by any political commentator and the ongoing acts of terror that are playing out on our doorstep in Australia.

A positive sign in all this uncertainty is that on the local commercial real estate scene there is renewed optimism, albeit moderate.

Interest rates remain at historically low levels, which is great news for those investors that require finance, and there are record numbers of cashed-up buyers looking for properties with strong tenants and in locations with the best chance of achieving capital growth.

Throughout 2014 we again witnessed high numbers of stressed sales from receivers and individuals who were happy to sell at less than their original purchase price to stave off pressure from their financial institution.

This year we can expect the market to re-align somewhat, with sellers holding out to achieve closer to their asking price with, in most cases, less pressure to sell.

There is an old saying, When the going gets tough the tough get going, and this has certainly applied in commercial real estate on the Sunshine Coast in recent years.

The agents that have stood the test of time when the market was at its softest are coming out the other end on the back of their strong referral base from long-term clients who have been satisfied time and again with quality of service and honest opinions on price and direction with marketing strategies.

Agents looking for the quick sale or leasing fee at any price at the expense of transparency to the vendor during the negotiation process do not last in the industry.

Building long-term business relationships with vendors will always stand us in good stead over desperation to achieve a quick commission fee. …

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