News & Media
COMMERCIAL OUTLOOK IN THE SOUTHERN HIGHLANDS OF NSW
One of the positive side effects of the global pandemic appears to be renewed interest in regional areas. In one of my areas of activity, the Southern Highlands, we have seen significant growth in new small business, particularly from those who are serving the construction industry. This has resulted in renewed demand for small to medium industrial space, which is particularly tight in the Braemar, Mittagong, Bowral and Moss Vale areas. A good deal of new development is under construction, of which almost everything is pre-leased or pre-sold. This is further supported by renewed interest in residential property development in these areas. These factors together with a massive escalation of activity in home improvements, often means that it is very difficult to secure tradespeople and materials . Waiting lists for tradespeople can often be up to 12 months. In conclusion, this paints a positive picture for the industrial and to a lesser extent, the commercial and retail outlook in these areas. At the same time, this situation is making it more difficult for existing tenants are wanting to either expand or renew their leases. For any assistance in this area, please feel free to contact us.