Five commercial properties snapped up in just two weeks
ROCKHAMPTON’S commercial property leasing market has seen a boom in recent months, with five properties leased in the past two weeks.
Four of those properties were located in Rockhampton’s CBD, while one was located at Shop 2 - 185 Berserker St, Berserker.
Principal of Kas Woch Real Estate, Kas Woch, said the 750 sq m showroom was leased out on November 29 to an existing business in town looking to expand.
“Green Light Autos are looking to use the showroom for mechanics and car detailing,” he said.
“They were looking to expand, and this new shop is very close to where the car yard is.”
Mr Woch also leased 112 Denison St, Rockhampton City on November 29, to a new business coming to town.
“The 506 sq m showroom was leased to an out of town contractor interested in soil testing,” he said.
“One is an existing business in town and the other one is a new business that has come to town.
“We are seeing quite a few new businesses coming to Rockhampton, I have had a number of inquiries.”
Mr Woch said while there were still a fair few vacant commercial properties, the market was experiencing an uptick.
“We are seeing an uptick, we have just leased a couple more commercial properties to local businesses who are expanding into bigger premises,” he said.
“We are seeing businesses expand and more people moving into town.
“Rockhampton has gone through a very tough property market for the past 12 years and that can’t go on forever.”
Commercialist for Mr Real Estate Brian Geaney leased 225-227 East St, Rockhampton City, on November 28.
The 939 sq m warehouse was taken on by Statewide Bearings, a Western Australian based company that provides bearing supplies and bearing services.
“Statewide Bearings is currently located on Denham St but is expanding to a site that is three times the size,” he said.
“We had another property lease in September, 15 Musgrave Street, to another Western Australian company that specialises in mine work and conveyer belt repairs.”
Mr Geaney said since the federal election, the commercial property leasing market had seen “a bit of a boost”.
“We have had about four to five warehouse leases since the federal election,” he said.
“Warehouses haven’t been moving real fast but in the past few months we have had some good inquiries and leases.
“There is a fair bit happening with professional offices and small shops, but the warehouses have been the surprising one.
“I think the approval of the Adani Carmichael Coal Mine added to this boost of confidence.”
Looking toward the new year, Mr Geaney said he could not see the commercial property market being any worse.
“We have been through a bit of a sluggish time, but we expect it will kick in pretty good again in February 2020,” he said.