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REIQ Journal : December January 2009
48 COMMERCIAL & INDUSTRIAL Mark Greer, Senior Retail Director, CB Richard Ellis Key projects due to be completed this year include Stage 1 of Homeworld Helensvale (25,000 square metres), Home HQ inWest Ipswich (12,300 square metres) and the Rothwell Homemaker Centre in Rothwell (7,400 square metres). Some key expansion areas in the next few years include Harvey Norman anchored centres in Maroochydore and Browns Plains along with projects proposed in locations such as North Lakes, Rothwell and Springfield. On the investment front, theMarketView report highlights a dramatic slowdown in activity in 2008 with no major sales recorded in the first half. Indicative yields have softened by around 50 basis points to range from 7.5 per cent to 8.5 per cent. There is a possibility that some centres will transact over the second half of 2008 as some investors look to divest non-core assets. Assets in recognised bulky goods precincts and emerging growth corridors should continue to draw interest when they become available, although older properties, particularly where they face competition from newer centres, appear likely to remain challenged over both the short and medium term. Wanted Looking to Sell your Sales Agency or Rent Roll? If you are interested in buying or selling your business – please contact Paul Brooks, Agency Broker, 0419 731 390 or firstname.lastname@example.org www.realestatedynamics.com.au REIQ Journal December 2008/January 2009