Friday 24 July 2020

It's Not all Doom and Gloom

According to the latest reports from the NAB Commercial Property Survey, sentiment is at its lowest ebb ever for commercial property across the Nation.

Covid-19 and its implications of working from home, mandatory closures of businesses, social distancing and travel restrictions have impacted demand in the retail, office and hotel sectors according to the Survey.

The one asset class that continues to see a rise in demand is industrial property due to the ongoing growth of online retailing.

Reflecting on the widespread industry sentiment of doom and gloom, Your Commercial's Director, Chris McLeod, commented "Yes, we were impacted when Covid-19 hit back in March. We have never been through something like this before and due to the uncertainty surrounding it, everyone put transactions on hold. However, once the dust settled, people got on with business. We still did deals during lockdown offering virtual tours for tenants and providing regular feedback to our clients and then when lockdown lifted so did the demand," he continued, "Over the past few weeks due to the Victoria outbreak, we have seen a little bit of push back from tenants deciding to put their searches on hold, but generally, I would say that these past few weeks have been the busiest we have been in a long time with the  team transacting on a record number of deals."

Lachlan Persley, Your Commercial's Leasing Manager continues, "Making the move to the Northern City Fringe I can see a real difference in the demand and attitude of Tenants and Landlords. The outlook is a lot more positive and the demand is more frenzied then it was in the CBD.  We are not being complacent however, as we appreciate that this could be a short term sentiment. We also realise that a lot of the business being generated by the team comes from the old school agency we apply within Your Commercial, of canvassing the local businesses and seeking out opportunities for our landlords." He continues, "The team go out and speak to local businesses, they walk the streets, they call people, they provide regular feedback to our Landlords. We value communication and  good old customer service. Yes we are here to do business, but we are here to ensure that our clients are looked after to the best of our ability.  We are here to ensure that we match the best Tenant to the best property, a win win for both parties."

For further information on Your Commercial leasing opportunities or to talk to Lachlan about how we can help you lease out your property please contact the team on 0478 836 583or on 07 3148 901.

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