The Savills Sunshine Coast office has experienced a very busy quarter since 1 July 2020.
The local market has been extremely strong and activity has never been busier over the past four to five months in the last 20 years, Jason O’Meara and Scott Gardiner report.
There has been unprecedented high volumes of transactions mainly in the industrial sector (vacant warehouses and undeveloped land) but strong interest in general development sites which if well located are in demand and selling, as too are commercial investment sales.
Jason O’Meara said that since the start of this financial year the Sunshine Coast office has transacted over 80 deals in 19 weeks, at an average of over four deals per week which is terrific to observe and be a part of.
“The office has finalised over $25 million in settled sales during the first quarter to date and has leased over 12,300sq m of space across various sectors of the market at a value of over $1.5 million in annual rent”.
Scott Gardiner said he has recently fielded qualified enquiry from businesses in Victoria looking to relocate to the Sunshine Coast which is a positive for the region in terms of employment and economic growth etc.
Dave Tyson and Luca Reynolds pairing as a team commented that the Sunshine Coast Industrial market was characterised by increasing demand and decreasing stock levels. That, coupled with the low interest rate environment, was helping to convert tenants into buyers particularly in the strata shed and freestanding warehouse market.
“Quality investment properties with solid tenants are always in high demand, but that is nothing new for the Sunny Coast over the past decade,” they said.
Learn more about the Savills Sunshine Coast office.