Leading Property and Finance Experts Gather at Sydney Commercial Property Seminar

Commercial real estate power players come together in Sydney to present their perspectives on the strong Sydney commercial property industry.

Sydney, Australia (PRWEB) September 13, 2006 -- A seminar titled “What’s Happening” was hosted by Coldwell Banker Commercial one of the top globally recognised commercial real estate brands with more than 500 commercial offices and over 4000 associates.

With leading experts in taxation, insurance, banking and commercial property sharing their insights into the current state of play, the event drew considerable interest from commercial property investors and developers. It also capitalised on a heightened demand in Sydney for expert information from the coal face.

In addition to providing an overview of commercial property in Sydney,
Mr Fab Mezzanotte CEO of Coldwell Banker Commercial NSW/ACT discussed the future forecast for commercial real estate and explained that research had revealed some compelling facts.

He said “Although the volume of sales and leases are considerably down, values across the board have not decreased and investors are still willing to invest at reasonable yields around the 6.5% TO 7.5% net for commercial properties with good leases in place.”

Mr Mezzanotte pointed out that owner occupiers and listed property trusts are responsible for the bulk of purchaser activity.

“ Listed property trusts are purchasing commercial property across all sectors and sales of industrial and commercial office suites have remained relatively strong across Sydney.”

He went on to say that their research had also uncovered some interesting figures.

“The decline in volume sales and leases was less than in 2004 compared to last years figures, this suggests that the market has bottomed out and should stabilize at the present conditions for approximately 18 months. As current stock is slowly absorbed and new speculative developments slowly come onto the market we may start to see capital appreciation in certain sectors of the market principally due to lack of supply and increasing demand.”    

“The 2005 figures are interesting because they showed that the majority of new developments in the industrial sector that are being built are already pre-committed.”

Mr Mezzanote said that despite the present conditions which are challenging, there are opportunities for investors, developers and owner occupiers.

“Good property can be acquired in the growth suburbs surrounding Sydney where new infrastructure has greatly increased the efficiency of transport of goods to and from neighboring states.”

About Coldwell Banker Commercial

©2005 Coldwell Banker Commercial Real Estate Corporation. Coldwell Banker Commercial® is a registered trademark licensed to Coldwell Banker Real Estate Corporation. The Coldwell Banker Commercial System covers territory throughout North America, South America, Europe, Africa, Asia and Australia. Coldwell Banker Commercial is an industry leader in providing commercial real estate solutions that serve the needs of tenants, landlords, sellers and buyers in the leasing, acquisition, disposition and management of all property types. Each office is independently owned and operated, Coldwell Banker Real Estate Corporation is a subsidiary of Cendant Corporation (NYSE: CD). For additional information, visit the company’s website at www.coldwellbankercommercial.com.au or contact us at (02) 9363 8881.

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