Market outlook
Canberra and Brisbane offices dominate national awards
Raine & Horne Commercial Brisbane North and Raine & Horne Commercial Canberra were the big winners
at the recent Raine & Horne National Awards in Melbourne.
Trent Bruce, Principal of Raine & Horne Commercial Brisbane North, attributes the success of his office to the rise
of self-managed super funds (SMSFs). "We’ve definitely seen more investor sentiment enter the market, with a trend
towards SMSFs, especially in the last six to nine months," says Mr Bruce.
For example, Mr Bruce recently auctioned four strata-title commercial spaces at Chermside where each property
was purchased by a SMSF. "These four commercial properties sold for between $165,000 and $525,000, and
anything below the $1 million price point is considered fair game for a SMSF," says Mr Bruce. "With commercial rental
yields around 8.5% in the current market, it is not hard to see why many investors are using their DIY super funds
to maximise the strong returns," says Mr Bruce, who says owner-occupiers were still making their presence felt in
Brisbane’s commercial property markets.
In Canberra, Frank Morella, Principal of Raine & Horne Commercial Canberra, the reigning Real Estate Institute of
Australia’s Commercial Agency of the Year, attributes the enduring success of his office to its ability to generate
long term relationships with government departments. "Government departments dominate the leasing markets in
Canberra and you must have face-to-face relationships with them and understand how they work," says Mr Morella.
“Some of the deals with government are in the pipeline for many years and we’ve been developing these relationships
for the best part of twenty years."
Award Winnners
| Top Commercial Office (Dollar Value) |
Raine & Horne Commercial Brisbane North |
| Top Commercial Salesperson (Sales Dollar Value) |
Frank Morella – Commercial Canberra |
| Top Commercial Salesperson (Number of Sales) |
Steve Burke – Commercial Canberra |
| Top Commercial Salesperson (Leasing Dollar Value) |
Frank Morella – Commercial Canberra |
| Top Commercial Salesperson (Number Of Leasing Transactions) |
Trent Stephens – Commercial North Sydney |
| Top Commercial Salesperson (Auction Listings) |
Trent Bruce – Commercial Brisbane North |
| Outstanding Property Manager |
Nicholas Harkins – Commercial North Sydney
Craig Spaulding - Commercial Brisbane Southside |
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Raine & Horne Commercial South Sydney/
Marrickville lands $4.8 M sale
Nicholas Smith and Michael Fragakis of Raine & Horne Commercial South Sydney/Marrickville have
successfully negotiated the sale of 11-13 Lackey Street, Summer Hill, to a local private investor for $4.8m.
The holding comprises three separate adjoining buildings and is fully leased to six tenants, including the TAB,
Blockbuster Video and Hips Fitness Centre. The property comes with onsite car parking for 11 vehicles, and it
commands a prime corner position along the thriving Village Square, just 100 metres from Summer Hill Railway Station.
The property generates net passing income of approximately $315,000.00 p.a., while it also has development and strata
subdivision potential, subject to Council approval.
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