Property News August 2018
*No handbrake on the Sydney retail commercial property market. It’s on the rise!
*The residential market in Sydney has finally slowed down, and it will be interesting to see what properties continue to be available for under $500,000 in the coming years. If prices have another surge, there will be very limited supply remaining.
*The Melbourne residential property market has shown a steady increase in values over the past 12 months and while the market witnessed a softening in 2018, Melbourne’s nation-leading population growth is expected to underpin continued growth at perhaps a more moderate pace.
*Despite media reports, there are still rising markets Nationally in housing in areas of Brisbane, Adelaide, Launceston, Canberra
*Sydney house and unit markets are back to values seen at the end of 2016. These softening conditions are not uncommon when the medium price is high comparative to income ratios and overall living expenses.
As the entrusted tenant representative of a large, national company Locate Negotiate were directed to act on their behalf in their commercial lease negotiations in South Western Sydney. Discussions were around a Stay vs Go analysis, Locate Negotiate engaged the wider Sydney market to investigate suitable options in the marketplace.
Our Client required premises that consolidated and amalgamated their operations in a centrally located Industrial warehouse that would offer expansion potential and flexibility for future growth. Entrusted to deliver on these requirements, Locate Negotiate utilised our contacts and knowledge of the Sydney market to highlight existing properties and off-market opportunities that facilitated their requirements.
Locate Negotiates market search provided our client with a shortlist of potential properties. On final selection and at the conclusion of all negotiations, our client opted to amalgamate operations and go to a newly built facility in the Hills District. Locate Negotiate effectively negotiated a lower rental rate than other sites they were originally located in, and ensured future rights of expansion for our client.
Benefit to the Client:
Negotiated favourable terms and rent
Negotiated incentives better than industry average for the area
Was able to find and secure an off-market opportunity
Undertook all the search due-diligence and reporting allowing the client to concentrate on their own business.