When investing in commercial property, Brisbane offers quality properties and huge variety. You get the serenity of the beaches mixed with the bustling nature of a city.
Commercial property in Brisbane is highly sought-after, with a generally low vacancy rate, and the potential for properties to return a high yield of 6+% (the average for a commercial return is 5.5%).
If you’re looking to invest in the Brisbane commercial real estate market, here are a few quick tips to help you make your decision.
Take Your Time & Do It Right
If you’re new to commercial real estate investment in Brisbane, it’s highly advised that you take your time and do things the right way. Make sure you have all of your paperwork in order before you even approach any lenders for a commercial loan. Because the cost of commercial is much higher than it is for residential properties, banks and private lenders will take a longer, harder look at your financial history.
Multiply Your Space
If you’re looking to purchase a unit in a shopping centre that has multiple tenancies – or the potential to develop multiple subunits – consider buying as many as you can. This will allow you to capitalise on multiple sources of revenue, increasing the speed of return on investment.
Think Like a Shopper
If you’re going to be buying commercial real estate, it’s important you think like a shopper would when it comes to where you’re buying. For example, if you’re buying a single store in a shopping centre, you want to purchase real estate that is near the main supermarket so shoppers will pass by your business. More foot traffic means more business, which means a faster return on investment.
Buying commercial property, particularly in a large city can be daunting, but if you keep your business smarts about you, create an attractive, centralised venture, you’re sure to succeed.