Up and coming precinct shows market confidence
THE DIGGORA Terrace precinct in William St had a mention in this month’s Herron Todd White commercial report for November.
The report states market conditions in the retail sector have remained relatively flat in 2019 however there have been some developments showing positive signs and some market confidence.
“These include the recent opening of an Aldi in Rockhampton, which appears to have been well received by locals in its first week of trading,” it said.
“Still to open this year is a Carl’s Jr and a also a new café Cocobrew in William Street.”
READ HERE: Have a brew at Rocky’s newest venue
Both Carl’s Jr and Cocobrew are projects of Kele Property Group.
“We have seen a slow re-establishment of a small retail precinct at Diggora Terrace on William St.This is likely due to the increased foot traffic generated since the opening of Dingles Café as well as the availability of street parking in the immediate area.”
The report states there are many retail buildings sitting vacant for extended periods.
“There are various locations across Rockhampton experiencing these vacancies, which is due to a number of factors and is not solely a reflection of current market conditions. These can be factors such as poor car parking, high asking rentals, sizing of the tenancies and poor exposure. Investors remained active throughout the year, however are sensitive to the strength of the tenant and the length of time remaining on the lease term.”