CLIMATE OF LOW INTEREST RATES IDEAL TIME FOR AUCTION EVENT

OWNER-OCCUPIERS taking advantage of low interest rates are expected to be among bidders chasing property at Ray White Commercial Gold Coast’s first major auction program of the year next month.

At least 17 properties, from Tweed Heads to Ormeau, will be offered at the February 20 event, including industrial warehouses, strata-title office suites, development sites, and shops.

Ray White Commercial Gold Coast director Greg Bell (pictured) yesterday said the auction was being held at a time when investors were seeking high returns from quality commercial assets.

“They are, of course, taking advantage of healthy yields and this has become even more compelling in this low interest-rate environment.

“We expect properties to sell for yields of between 5 and 11 per cent.

“Owner-occupiers are on the front foot as well, looking to secure their business premises at a time when borrowing costs have never been lower.”

Mr Bell said the commercial property market on the Gold Coast continued to be supported by the strength of interstate migration.

“More people are moving here, some of them relocating their businesses or starting afresh on the Gold Coast, and this is really driving demand, especially across the industrial sector.”

Among the properties poised to go under the hammer will be 17.23ha of development land at Tweed Heads, factory-warehouses, vacant land adjoining a Pimpama shopping centre, and Southport retail and office titles.

The auction also will include a developer liquidation of six leased luxury townhouses at Tugun.