Commercial property in Queensland is experiencing a recovery after buyer enquiries have soared 50 per cent since the global financial crisis (GFC), according to one group.
Due to the increased demand, Raine & Horne CEO Angus Raine believes now is the time to expand the group's reach by opening its 33rd Australian-based commercial office.
“After a correction in prices in the early half of 2012, we are starting to see signs that there are good times ahead for commercial property in Queensland,” said Mr Raine.
“We are also very fortunate to have Graham and the experienced Raine & Horne Commercial Hervey Bay team representing our commercial clients on the Fraser Coast.”
Raine & Horne Hervey Bay was originally both a residential and commercial office.
“However when the GFC hit in 2008, commercial property fell off the radar for some investors and we wound down the commercial arm of the business,” said the owner and principal, Graham Cockerill.
“Now, with confidence returning to commercial property in Queensland, we are formally relaunching Raine & Horne Commercial Hervey Bay to service our clients along the Fraser Coast.”
In welcoming the launch, Angus Raine said the office is an example of the network’s growing reach in the Queensland market.