Insider Tips to Help You Discover How to Succeed with Commercial Property
While several capital cities still have a reasonably high Office vacancies, there is a general shortage of space looming.
Twelve months ago, it was all doom and gloom for the CBD Office markets in Perth and Brisbane — with falls expected in both rents and values. New projects were being finished, as the resources boom ground to a halt.
In Sydney … investment banks, lawyers and accountants were reducing staff in anticipation of a severe downturn in the finance sector.
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It might surprise you to hear this, however …
h3. A Strong US Recovery
… would probably be the worst thing to happen for Australia in 2010.
If that occurs, the US Federal Reserve would be forced to quickly raise interest rates, from zero to around 3%. And that would cause the collapse in the Australian dollar from its current level of around US90c.
Up until now, Australia has been shielded from inflationary pressures, with a high dollar holding down the cost of imports.
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By early December 2009, sales of Commercial property in Melbourne’s CBD had almost reached $1 billion — according to a report prepared by Jones Lang LaSalle.
Apparently, Melbourne office sales (for buildings over $10 million) totalled around $998 million — while in Sydney, it had reached $444 million.
Sales may well have topped the $1 billion mark by the end of December, because this strong activity resulted from private investors — particularly, in the region of $50 million.
And following another recent survey, more than half of Colliers’ client said they were expecting to see further growth in 2010.
In the suburbs, strata Office demand remained strong — with smaller owner-occupiers seeking Offices close to shops and main arterial roads.
CBD Office Vacancies
The current state of the various CBD office markets is probably your best barometer of future activity for two reasons. First, the Property Council of Australia (PCA) conducts six-monthly surveys to establish the CBD vacancy rates right around Australia.
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An earlier post outlined my view on how the various CBD Office Markets would perform around Australia.
Future CBD Office Vacancies
Interestingly, their take on the level of vacancies is that it will not reach anything as bad as the 1990s.
But Perth, Brisbane and Sydney will be the most affected … and slowest to recover.
Queensland seems to have been hardest hit. And in particular the Gold Coast, where vacancy levels have soared to around 18%.
But the difficulties confronting Queensland (and fellow mining State WA) are not necessarily reflected Australia-wide.
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WITH EVERY NEGOTIATION, you always need to be thinking on your feet. And here are several simple Tips to help you do just that.
WHEN YOU EMBARK on your journey as a property investor, it can be overwhelming – with a flood of information and diverse opinions. To help simplify the process, here are five essential tips for new (and seasoned) investors.
IT DOES NOT MATTER whether you’re an investor or an owner-occupier, there are several important factors to consider when purchasing a commercial property to ensure you make the right choice.
In a previous article, I shared a handy App to assist you in shortlisting potential properties. If you haven’t already downloaded it, simply click on the HiReturn Filter over on the right, to install it on your tablet or mobile device.
THERE IS A BELIEF among many experts that a surge in the stock market typically precedes a recovery in the commercial property market by about six months. And the start of this year saw equity markets gaining some momentum.
I HAVE BEEN ASKED countless times about the secrets to a successful negotiation. And I want to share with you the key elements to help make your negotiations effective.
But first, just watch this short video to gain a quick understanding of these three essential elements that form the foundation of every negotiation.
If you’re new to investing, you might be wondering if it’s possible to manage your own commercial property. The short answer is “yes”, but only if you know what you’re doing.
It’s important to note that owning a commercial property comes with certain legal responsibilities, particularly when it comes to compliance with Essential Services requirements under current Building Regulations.
The current trends in the business have made it clear that office landlords have to cater to the needs and preferences of their tenants. Building owners and managers (who understand and meet these demands) will be able to command higher rents and reduce vacancy rates.
To expand on this, here are four key tips to help attract quality tenants.
