Bunbury commercial sales summary for 2014
During 2014 we saw approximately 40 commercial properties sell in the Bunbury locale alone, worth a net value of $121,000,000.
There were several large sales in that period, including The Stirling Centre on Stephen Street which sold for $18,750,000.
On average the sales were in the $450,000 - $500,000 mark, however there were three sales over $2 million and another seven which were over $1 million, which reflected a good cross section of sales values for the area.
While it is proving to be a more viable investment to purchase a property that has already been developed, commercial land was still very popular, representing 30% of the total sales.
We see that 2015 will continue to be a positive year for commercial/retail sales, as we attract large state and national companies to the region.
There is a significant level of investment to occur in the South West over the forthcoming 2-3 years and this continues to make the area highly attractive for businesses and commercial ventures.
We believe that this trend will therefore continue for 2015 and on that basis are optimistic.