Cairns retail market remains flat: HTW Commercial

Cairns retail market remains flat: HTW Commercial
Staff ReporterDecember 8, 2020

The Cairns retail property market passed through the bottom of the cycle during the course of 2014, but the limited recovery thus far means that the retail property market remains relatively flat, according to the latest report from valuation firm Herron Todd White.

“It must be also said that retail property sales in Cairns are extremely sporadic, with most sales involving mixed use retail and office buildings or tenant buyouts of single premises,” the March report found.

The level of general commercial property sales in Cairns, inclusive of retail and commercial office premises, highlights that activity in the Cairns commercial market remains well below the pre GFC levels.

Sales volumes have been gradually rebuilding, but are still only averaging around 100 sales per annum. Median prices paid specifically for strata titled premises have increased mildly over the past several years, but the firm ultimately found that prices per square metre of floor area are mostly stable within the $2,500 to $4,500 range.

Editor's Picks

Box Hill's best new apartment development approaches completion
"We will reward the buildings that are designed the best" VIC Gov to speed up approvals for best designed apartment developments
Beulah unveils new sustainable Fitzroy development
UEM Sunrise approved to develop two towers on Subiaco Oval
Traders in Purple line-up new Padstow development