Industrial property demand skyrockets
(Colliers Real estate)
“Even though there have been a couple of small increases in interest rates, it seems to have had little or no effect on the market. This is reflected in owner occupiers returning to the market, higher closing rates at auctions and continued compression of yields”, says Greg Goldfinch, Colliers International’s national director of industrial sales and leasing.
First quarter 2014 saw very strong sales and leasing activity for the Colliers International Highbrook team, following on from several record breaking years.
In May the team celebrated the win of its fifth consecutive annual award from the Royal Institution of Chartered Surveyors for Industrial Team of the Year.
“The Highbrook team and all the industrial brokers nationwide are very busy, and the latest RICS award was pleasing given the work and professionalism of the whole team. Given the success we have been lucky enough to achieve over the past few years, you could imagine a little bit of complacency might slip in, but to the contrary, it seems to galvanise the team to remain focused and work extremely hard for our vendors,” Goldfinch says. “We seem on track for another strong year having sold circa$75 million worth of property, and leased nearly 74,000m2 of space in the first few months of 2014.”
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