Fewer leasing transactions within Coffs Harbour: HTW

Fewer leasing transactions within Coffs Harbour: HTW
Fewer leasing transactions within Coffs Harbour: HTW

Fewer leasing transactions are occurring at Coffs Harbour.

The office market in Coffs Harbour features a slight but reducing oversupply, limited enquiry for leasing at stable rental levels and incentives for new leases, according to the latest report from Herron Todd White.

There are a number of office project developments that have commenced after pre-leasing agreements.

These projects range from smaller strata title office projects to larger developments.

The financial valuers found that the eastern precinct of the CBD remains prime with rental levels at $330 to $400 per square metre.

There is a strong pre-lease to a major tenant for the office component of the new Gowings development.

The impacts of reduced government spending, limited availability of grants and the retraction policies are clearly evident in the Coffs Harbour regional office market.

Rental levels remain sensitive at from $200 per square metre for lower quality to $280 per square metre for average secondary located space.

There is a lack of sales and leasing transactions within the office sphere of the market.

The valuers found that yields within Coffs Harbour remain firm based on the prevailing low interest rate climate.

Leasing activity is restricted with serious owners offering lease incentives or rent free periods to attract tenants.

Tags: 
Office Market Coffs Harbour

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