Mildura commercial property market holds: Herron Todd White

Mildura commercial property market holds: Herron Todd White
Mildura commercial property market holds: Herron Todd White

The industrial property market in Mildura has generally held up well during 2015, according to valuation firm Herron Todd White.

In the HTW month in review they show that vacancy rates, particularly for modern premises, remain relatively low and rental levels have been maintained.

Having said this however, the report goes on to suggest that there have been relatively few sales and so far only one above $1 million (compared to three sales over $1 million in 2014).

"The sales that have occurred have generally shown yields of around 9%.

"In 2015 we have seen some development start in the section of Benetook Avenue between Fourteenth and Fifteenth Streets.

"Development in this strip has been held up for many years by the cost of connecting to stormwater drainage infrastructure.

"With little remaining vacant land in Mildura’s traditional industrial area, it is a welcome sight to see development now moving further along Benetook Avenue, filling in one of the last remaining gaps in one of our main arterial roads."

 

Joel Robinson

Joel Robinson

Joel Robinson is a property journalist based in Sydney. Joel has been writing about the residential real estate market for the last five years, specializing in market trends and the economics and finance behind buying and selling real estate.

Tags: 
Victoria Industrial Property

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