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Commercial Update with Ted July 2016

Wollongong/Illawarra Commercial Real Estate Market Update

Welcome to the July commercial market update with Ted Hanson the marketplace is separated into three main areas in the commercial marketplace we've got office space we've got retail and industrial I'll just cover off on each of those in turn, the industrial market place at the moment is improving with finding a lot of owners are repurposing their industrial suites for things like dance studios. Retailing again that's improving a little as we come in towards the second half of this year again a lot of owners are finding that instead of traditional retailing. We've got commercial service options, people moving in there to provide services at street front level the office space is a lag at the moment we're finding that there are high vacancies a lot of them are properties that have had long-term tenants with a lot of capital expense on them and we're encouraging our landlords to recarpet repaint and generally upgrade to make sure they're in the marketplace as attractive as possible. A quick tip we find professional photographs and floor plans are important part of marketing now days and I would suggest that you spend a little bit of money to get that across to the market this is Ted Hanson Commercial asset manager first national Wollongong.

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