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Raine & Horne Commercial has announced the addition of two new offices catering to the sector in as many days, with offices in Canberra and Townsville making an impact this August.
Canberra commercial specialists Mark and Hayley Nicholls feel the moment is ripe for launching their own office in the nation’s capital.
Mr Nichols explained that recent changes to the Commonwealth Procurement Rules are expected to deliver a boost to SMEs by doubling the amount of government contracts they are allowed to receive, delivering a flow-on effect to the commercial market.
“It’s exciting that we have launched Raine & Horne Commercial Canberra just as this significant announcement will start to trickle through to Canberra’s business community,” Mr Nichols said.
“Throw in the fact that there is no stamp duty on commercial properties valued under $1.6 million, along with Canberra’s reputation as an investment haven due to the dominant role of government tenants, the outlook for the market and our new business couldn’t be better.”
Meanwhile, in Townsville, Steven Leaumont will be expanding his expertise, opening a commercial outfit to complement his residential office with the network, which has borne the Raine & Horne branding since 2017.
He’s planning to capitalise on an opening he’s seen in the market through a refreshed interest in Townsville’s offerings, driven by Australians looking to get out of the capitals to meet both their personal and business needs.
“Out of area investors are discovering you can buy an affordable commercial property in north Queensland with a yield of 9 per cent whether it’s a tenanted retail, industrial or office asset,” Mr Leaumont said.
“You can buy a lot more here for $1 million than what you can buy in Sydney or Brisbane, and this is the appeal of Townsville’s commercial real estate.”
Joining the team will be local sales and commercial property specialist Peter McCann.
They also intend to tap into the SME community, drawing on their pre-existing database of home buyers they’ve dealt with in the past, of whom they estimate 30 per cent to be small business owners.
“It’s a great database, and significantly it’s not an old one, and a lot of them are business owners, know business owners, or obviously work with businesses here in Townsville. That’s where the opportunity is huge for Raine & Horne Commercial Townsville,” Mr Leaumont said.
ABOUT THE AUTHOR
Juliet Helmke
Based in Sydney, Juliet Helmke has a broad range of reporting and editorial experience across the areas of business, technology, entertainment and the arts. She was formerly Senior Editor at The New York Observer.
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