Tasmania Property Market Report - June 2015

Transcription

1
Property Market Report
Tasmania
June quarter 2015
ABOUT THIS REPORT
Preston Rowe Paterson prepare standard research reports covering the main markets
within which we operate in each of our capital cities and major regional locations.
The markets covered in this research report include the commercial office market,
industrial market, retail market, hotel and leisure market and residential market as well as
economic factors impacting on the real estate markets within we operate.
We regularly undertake valuations of commercial, retail, industrial, hotel and leisure,
residential and special purpose properties for many varied reasons, as set out later herein.
We also provide property management services, asset and facilities management services
for commercial, retail, industrial property as well as plant and machinery valuation.
To compile the research report we have considered the most recently available statistics
from known sources. Given the manner in which statistics are compiled and published they
are usually 3-6 months out of date at the time we analyse them. Where possible we
consider short term movement in the statistics by looking at daily published data in the
financial press. Where this shows notable fluctuation, when compared to the formal
published numbers we have commented accordingly.
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Fax: +61 2 9292 7404
Address: Level 14, 347 Kent Street Sydney NSW 2000
Email: research@prpsydney.com.au
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© Copyright Preston Rowe Paterson Australasia Pty Limited
INSIDE THIS ISSUE:
Hobart Office Market
2
Retail Market
3
Residential Market
4
Regional Market
6
Economic Fundamentals
7
About Preston Rowe
9
Contact Us
11
1
COMMERCIAL OFFICE MARKET
Hobart CBD
Supply by Grade (Stock)
According to the PCA Office Market Report July 2015, the
Hobart CBD office market did not record any additional
supply or stock withdrawals in the six months to July. The
Hobart CBD total stock level remained at 363,082 sqm.
Hobart CBD
Additional Supply and Withdrawals
Source: PCA/Preston Rowe Paterson Research
16,000
14,000
Preston Rowe Paterson Research has recorded limited major
sales transactions that occurred in the Hobart CBD market
during the three months to June 2015;
Withdrawals
8,000
Supply Additions
6,000
4,000
2,000
Jul-15
Jul-14
Jan-15
Jul-13
Jan-14
Jul-12
Jan-13
Jul-11
Jan-12
Jul-10
Jan-11
Jul-09
Jan-10
Jul-08
Jan-09
Jul-07
Jan-08
Jul-06
Jan-07
0
Jul-05
340-344 Elizabeth Street, North
Hobart TAS 7000
The Palfreymans Arcade was
sold for $1.85 million. Built circa
1900, the Queen Anne
federation building sits on a
prominent corner of North
Hobart’s emerging trendy retail
strip. The property houses six tenancies with retail spaces on
ground floor and office spaces on the first floor.
10,000
Jan-06
Investment Activity
Office Space (sqm)
12,000
Chart 1 – Hobart CBD Additional Supply and Withdrawals – Source PCA
The Hobart CBD office market was dominated by A Grade
stock which amounts to 188,420 sqm. The B and C Grade
stock levels were similar, accounting for 70,526 sqm and 68,755
sqm respectively. D Grade stock level totalled to 35,381 sqm.
Development Sites
Hobart CBD Total Stock by Grade
400,000
Source: PCA/Preston Rowe Paterson
The Property Council of Australia’s (PCA) Office Market
Report July 2015 have recorded the following office
developments in the Hobart CBD office pipeline.
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Fax: +61 2 9292 7404
300,000
Stock Levels (sqm)
250,000
A Grade
B Grade
200,000
C Grade
D Grade
150,000
100,000
50,000
0
Jul-95
Jan-96
Jul-96
Jan-97
Jul-97
Jan-98
Jul-98
Jan-99
Jul-99
Jan-00
Jul-00
Jan-01
Jul-01
Jan-02
Jul-02
Jan-03
Jul-03
Jan-04
Jul-04
Jan-05
Jul-05
Jan-06
Jul-06
Jan-07
Jul-07
Jan-08
Jul-08
Jan-09
Jul-09
Jan-10
Jul-10
Jan-11
Jul-11
Jan-12
Jul-12
Jan-13
Jul-13
Jan-14
Jul-14
Jan-15
Jul-15
The development of
Montpelier Project located
at 2 Montpelier Retreat,
Battery Point within the
Salamanca business
precinct had had its DA
approved. The mix-use
development will include
2,000 sqm of office space
over a single level and
6,000 sqm of retail space.
The average floorplate size is approximately 2,000 sqm. The
development comprise of a set of 5 buildings providing
apartments and serviced apartments, wellness centre,
public open space, underground car park with 430 car
spaces (360 are public car spaces). The project is expected
to be completed in the 2nd quarter of 2017.
350,000
Chart 2 – Hobart CBD Total Stock by Grade– Source PCA
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RETAIL MARKET
Total Vacancy
The Hobart CBD office market total vacancy rate remain
unchanged in the six months to July. The total office vacancy
in Hobart was recorded at 8.9%. Both direct and sub-lease
vacancy remained unchanged at 7.2% and 1.7% respectively.
On a year on year analysis the Hobart CBD A Grade vacancy
rate has increased by 2.6% to 5.7%. Similarly the C Grade and
D Grade vacancy rates have both grew by 2% to 4.1% to 13%
and 10.5% respectively. The only recorded tightening in
vacancy was in the B Grade office stock which fell by 1.9% to
12.7%.
Hobart CBD Commercial
Vacancy Rates
12.0
According to the Australian Bureau of Statistics category
Retail Trade (June 2015), the retail turnover figures recorded in
Tasmania produced positive results. The Tasmanian total
industry retail turnover increased by 0.1% over the month of
June resulting in total turnover for the month of $475.5 million.
This is a 1.7% increase when compared to June 2014.
Vacancy Rate (%)
10.0
8.0
6.0
4.0
2.0
0.0
Jul-06
Jul-07
Jul-08
Jul-09
Jul-10
Jul-11
Jul-12
Economic Statistics
Jul-13
Jul-14
Jul-15
The Tasmanian retail market had produced predominantly
negative results over the month of June. Household goods
retailing decreased by –1.5% to a monthly turnover of $90.2
million. Café, restaurants and takeaway service, and Food
retailing fell by –1% and –0.2% to a monthly turnover of $47.4
million and $206.3 million respectively. Clothing, footwear and
accessory retailing monthly turnover remain unchanged at
$32.2 million.
Direct Vacancy Sub-Lease Vacancy
Chart 3 – Hobart CBD Commercial Vacancy Rates – Source PCA
Tasmania Retail Turnover
500.0
4.0
3.5
475.0
3.0
Retail Turnover $ million
2.0
1.5
425.0
1.0
400.0
0.5
0.0
375.0
-0.5
-1.0
350.0
-1.5
Monthly Percentage Change (%)
2.5
450.0
-2.0
325.0
-2.5
Retail Turnover
Jun-15
Apr-15
May-15
Mar-15
Jan-15
Feb-15
Dec-14
Oct-14
Nov-14
Sep-14
Jul-14
Aug-14
Jun-14
Apr-14
May-14
Mar-14
Jan-14
Feb-14
Dec-13
Oct-13
Source: ABS/Preston Rowe Paterson Research
Nov-13
Sep-13
Jul-13
Aug-13
-3.0
Jun-13
300.0
% Change
Chart 4 – Tasmania Retail Turnover – Source ABS
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3
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RESIDENTIAL MARKET
Year on year analysis recorded mixed results for Tasmanian retail.
retailing Café, restaurants and takeaway service recorded the largest
decline of –8.5%. Household goods retail fell by –3.7% whilst Clothing,
footwear and accessory and Food retailing both reported an annual
growth of 5.6% and 3.5% respectively.
Tasmania Retail Turnover
% Monthly Change
0.1
0.08
0.06
Monthly % Change
0.04
Economic Statistics
According to the Australian Bureau of Statistics category
8731.0 Building Approvals June 2015, the total number of
house dwelling approvals in the Hobart Statistical Division over
the month has decre4ased by –23% from 115 approvals to 88
approvals. In comparison to June 2014, dwelling approvals
realised a growth of 33%. The monthly total number of nonhouse dwelling approvals increased from 9 approvals to 15
approvals. In comparison to June 2014 this reflected a
decrease of 650%.
0.02
0
Dec-2013
Mar-2014
Jun-2014
Sep-2014
Dec-2014
Mar-2015
-0.02
Jun-2015
The Hobart total dwellings market has recorded a total
number of 696 dwelling approvals in the year to date 2015.
-0.04
Hobart SD Dwelling Approvals
-0.06
1,600
-0.08
1,400
-0.1
-0.12
Household goods
Clothing, Footwear
Cafe, Restaurants
Chart 5 – Tasmania Turnover % Monthly Change – Source PCA
Annual Approvals
1,200
Food Retailing
1,000
800
600
400
200
0
2005
2006
2007
2008
Source: ABS / Preston Rowe Paterson Research
2009
2010
Houses
2011
2012
2013
2014
YTD 2015
Other
Chart 6 – Hobart SD Dwelling Approvals – Source ABS
Hobart
Market Affordability
According to the Real Estate Institute of Australia (REIA) March
quarter 2015, the Hobart median house price had increased
by 6.3% over the quarter to $382,500. A decline of –0.6% was
recorded over the twelve months to March.
The highest quarterly growth in median house sales prices was
Inner Hobart houses recording 18.2% to a median price of
$548,000. Inner and Outer Hobart median sales price
increased by 3.4% and 0.1% to $330,000 and $349,000
respectively.
Year on year analysis revealed mostly positive results on
Hobart house sales. Inner and Middle Hobart recorded an
annual growth of 7.5% and 1.2% respectively. Outer Hobart
recorded an annual decline of –5.7%.
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Fax: +61 2 9292 7404
4
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Rental Market
Median House Price by Zone
$600,000
20.00
16.00
Median House Price
$500,000
14.00
$450,000
12.00
$400,000
10.00
8.00
$350,000
6.00
$300,000
Quarterly Percentage Change (%)
18.00
$550,000
4.00
$250,000
2.00
$200,000
0.00
Hobart Inner
Hobart Middle
Source: REIA/Preston Rowe Paterson Research
Hobart Outer
Launceston
North-West Centres
The March quarter revealed positive results in Hobart house
rents. The only recorded quarterly decrease in rent was Inner
Hobart 2 bedroom house which decreased by –6.2% to $350.
The highest growth in median weekly rent was Inner Hobart 4
bedroom house increasing by 14.4% ($555), followed by Middle
Hobart 2 bedroom and Outer Hobart 4 bedroom rents which
increased by 8.2% ($290) and 6.6% ($420) respectively. Middle
Hobart 4 bedroom house rent remain unchanged at $410.
Year on year analysis also revealed growth in Hobart median
house rents. The highest annual growth was recorded in the
Outer and Inner Hobart 4 bedroom house rents of 11% and 12%
respectively. The Middle Hobart 3 bedroom rents remain
unchanged at $320.
Median House Price Quarterly % Change
Median Weekly Rents for Houses by Zone
Chart 7 – Median House Price by Zone – Source REIA
$550
Year on year analysis revealed mixed results recorded as at
March 2015. Decline in other dwelling median sales price was
attributed to Inner Hobart which fell by –8.6%. Middle and
Outer Hobart recorded an annual growth of 4.6% and 1.9%
respectively.
$500
$450
Weekly Median Rent
The other dwellings median sales prices in Hobart recorded
mixed results in the March quarter. Median sales price growth
was recorded in Middle Hobart of 11.1% to $250,000. Inner
and Outer Hobart recorded a quarterly decline of –8.1% and
–6.6% to $310,000 and $275,000 respectively.
$400
$350
$300
$250
$200
$150
$100
Hobart Inner
Median Price for Other Dwellings by Zone
$325,000
2 Bed House
Hobart Outer
3 Bed House
Launceston
North-West Centres
4 Bed House
Chart 9 – Median Weekly Rents for Houses by Zone – Source REIA
14.00
10.00
$275,000
8.00
$250,000
6.00
4.00
$225,000
2.00
$200,000
0.00
$175,000
-2.00
Quarterly Percentage Change (%)
12.00
$300,000
Median House Price
Hobart Middle
-4.00
$150,000
-6.00
$125,000
-8.00
$100,000
Mixed quarterly results were recorded for the Hobart other
dwelling median weekly rents. Inner Hobart rents decreased
in the 1 & 3 bedroom other dwellings to $205 (-2.4%) and $405
(-10%). Middle Hobart 1 bedroom rents also decreased by –
8.1% to $170.
The largest quarterly growth in median weekly rent was Outer
Hobart 1 bedroom which increased by 25% to $175. Other
reported growth were in the Middle Hobart 2 & 3 bedroom
other dwellings of 4.2% ($250) and 3.2% ($325) respectively.
-10.00
Hobart Inner
Hobart Middle
Hobart Outer
Median Unit Price
Launceston
North-West Centres
Quarterly % Change
Chart 8 – Median Price for Other Dwellings by Zone – Source REIA
Inner Hobart 2 bedroom and Outer Hobart 2 & 3 bedroom
rents remain unchanged to median weekly rents of $295,
$280, $330 respectively.
Similarly the year on year analysis of Hobart other dwellings
rentals has revealed mixed results. The highest annual growth
was recorded in Inner Hobart 3 bedroom other dwellings at
9.5% and the largest decrease in rent was Middle Hobart 1
bedroom other dwellings at –5.6%.
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5
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REGIONAL MARKET
Median Weekly Rents for Other Dwellings by Zone
$500
Preston Rowe Paterson Research recorded the following
significant sales transactions that occurred in the Regional
Market, during the three months to June 2015;
$450
Weekly Median Rent
$400
Commercial
$350
$300
$250
$200
$150
$100
Hobart Inner
Hobart Middle
1 Bed Unit
Hobart Outer
2 Bed Unit
Launceston
North-West Centres
3 Bed Unit
Chart 10 – Median Weekly Rents for Other Dwellings by Zone – Source REIA
Launceston
The Launceston median house price increased by 0.4% to
$285,000 over the March quarter. Other dwellings median sales
price decreased by –4.5% to $191,000. Compared to March
2014, a 7.1% growth in house prices was realised.
Rental Market
The Launceston rental market revealed mixed results. House
median weekly rents grew in 2 bedroom by 1.5% to $273, 3
bedroom rents unchanged at $290 and 4 bedroom house rents
fell by -1.4% to $360.
Launceston other dwelling median rents fell in the March
quarter. 1, 2 & 3 bedroom rents decreased by –4.5% ($170), -6.2%
($228) and –13.2% ($295) respectively.
67-75 Paterson Street, Launceston
TAS 7250
The A Grade commercial and
retail building was sold to a local
investor for about $3 million in
vacant possession. The building
was built in 1911 with commercial
additions in 1980. The building
comprise of 3 levels and has a
gross building area of 3,475 sqm,
underground car parking and features a 4-star NABERS Energy
Rating. The building adjoins an empty site which is occupied
as a car park, the site has development potential. It is located
one block from the Brisbane Street Mall in the heart of the
Launceston CBD. Launceston is about 198 km north of Hobart.
Industrial
37 Don Road, Devonport TAS 7310
The development site was sold to
a local developer for $1.45
million. The site is about 6,687 sqm
and is located within the
emerging retail and commercial
precinct in Devonport. The dualfrontage corner site has easy
access to the Bass Highway.
Devonport is located approximately 277 km north-west of
Hobart.
North-West Centres
The North-West Centres median house price grew by 2.3% to
$191,000 over the March quarter. Other dwellings median sales
price decreased by –3.1% to $195,000.
Rental Market
The median house rents in North-West Centres has tightened in
the quarter. 2, 3 & 4 bedroom rents decreased by –5.2% ($235), 3.7% ($260) and –20% ($300) respectively.
North-West Centres other dwelling 3 bedroom median rents fell
by –6.7% ($280) in the March quarter. 1 bedroom rents grew by
3.3% to $155 and 2 bedroom rents remain unchanged at $210.
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6
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ECONOMIC FUNDAMENTALS
GDP figures for the June quarter 2015 are not available until
the 2nd September 2015, however, over the March 2015
quarter revealed that the Australian economy recorded
growth of 0.93% seasonally adjusted which reflected growth of
2.31% seasonally adjusted over the twelve months to March
2014.
In seasonally adjusted terms, the main industry gross value
added contributors to GDP were Mining (+0.5%), Financial and
insurance services (+0.5% ), Information media and
telecommunications (+0.3% )
and Healthcare and social
assistance (+0.3%). In trend terms, the largest detractor were
the Professional, scientific and technical services (-0.4%) and
Construction (-0.2%).
The media release also stated that inflation is as expected to
be consistent with its 2%-3% target over the next two years,
even with a lower interest rate.
Interest Rate Movements
7.0
6.0
5.0
Percentage (%)
GDP
4.0
3.0
2.0
1.0
Gross Domestic Product
Source: RBA /Preston Rowe Paterson Research
Jun-15
Dec-14
Mar-15
Jun-14
Sep-14
Dec-13
Mar-14
Jun-13
Sep-13
Dec-12
Mar-13
Jun-12
Sep-12
Dec-11
Mar-12
Jun-11
4.0
Sep-11
400,000.0
Mar-11
5.0
350,000.0
Cash Rate
3.0
Chart 13 – Cash Rate—Source RBA
300,000.0
2.0
250,000.0
1.0
200,000.0
0.0
Percentage (%)
GDP Millions
0.0
450,000.0
CPI
150,000.0
-2.0
0.0
-3.0
Sep-06
Dec-06
Mar-07
Jun-07
Sep-07
Dec-07
Mar-08
Jun-08
Sep-08
Dec-08
Mar-09
Jun-09
Sep-09
Dec-09
Mar-10
Jun-10
Sep-10
Dec-10
Mar-11
Jun-11
Sep-11
Dec-11
Mar-12
Jun-12
Sep-12
Dec-12
Mar-13
Jun-13
Sep-13
Dec-13
Mar-14
Jun-14
Sep-14
Dec-14
Mar-15
50,000.0
Source: RBA /Preston Rowe
Paterson Research
Gross Domestic Product Seasonally Adjusted
% Change Seasonally Adjusted
Chart 11 – Gross Domestic Product (GDP) – Source ABS
Interest Rates
According to the Australian Bureau of Statistics (June 2015),
the Australia’s All Groups CPI increased by 0.7% over the June
quarter from 106.8 to 107.5. The annual CPI change to June
2015 recorded a growth of 1.5%.
The most significant price rises over the June quarter were
automotive fuel (+12.2% ), medical and hospital services
(+4.5% ) and new dwelling purchases by owner-occupiers
(+1.5%). The greatest price fall over the quarter was attributed
to are domestic holiday travel and accommodation (-5.4%)
and pharmaceutical products (-1.8%).
As at the date of publishing, the official Cash Rate over the
June quarter 2015 has decreased by 25 basis points to 2%. The
Reserve Bank of Australia’s Media Release for June 2015,
released 2nd June 2015 explained that;
Consumer Price Index
120.0
8
7.5
7
6.5
6
5.5
5
4.5
4
3.5
3
2.5
2
1.5
1
0.5
0
-0.5
100.0
“In
80.0
Aus All Groups
60.0
40.0
20.0
All Groups CPI - Australia
Jun-15
Jun-14
Dec-14
Jun-13
Dec-13
Jun-12
Dec-12
Jun-11
Dec-11
Dec-10
Jun-10
Dec-09
Jun-09
Dec-08
Jun-08
Dec-07
Jun-07
Dec-06
0.0
Jun-06
Australia the available information suggests the economy
has continued to grow, but at a rate somewhat below its longterm average. Household spending has improved, including a
large rise in dwelling constructions, and exports are rising. But
the key drag on private demand is weakness in business
capital expenditure in both mining and non-mining sectors and
this is likely to persist over the coming year...Low interest rates
are acting to support borrowing and spending...Dwelling prices
continue to rise strongly in Sydney, though trends have been
more varied in a number of other cities...In other asset markets,
prices for equities and commercial property have been
supported by lower long-term interest rates.”
Annual % Change
-1.0
100,000.0
Annual % Change
Chart 14 – Consumer Price Index – Source RBA
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Consumer Sentiment
875,000
7.00
825,000
6.50
5.50
725,000
5.00
675,000
4.50
625,000
4.00
575,000
3.50
525,000
3.00
Unemployed Persons
Jun-15
Jun-14
Dec-14
Jun-13
Dec-13
Jun-12
Dec-12
Jun-11
Jun-10
Dec-11
130
Dec-10
2.00
Jun-09
425,000
Dec-09
2.50
Jun-08
475,000
Consumer Sentiment Index
Unemployment rate (%)
6.00
775,000
Dec-08
The Index is returning to its pre-budget level in May 2014. Westpac’s Senior Economist, Matthew Hassan commented; “Some
softening in sentiment was always likely in March given the big
lift (in February) following the RBA’s surprise 25bp rate cut…
The overall message seems to be that while consumers remain
very concerned about the outlook for the economy and job
security, they are less concerned than they were in December
and acknowledge the more positive situation around interest
rates.”
Unemployment (Rate and Persons)
Unemployed persons
The Westpac Melbourne Institute of Consumer Sentiment Index
fell by 1.2% in March from 100.7 index points in February to 99.5
index points in March. Over the quarter the index has increased by 8.4 points, a 9.22% growth. Over the twelve months
to March 2015 the index recorded no annual change.
Unemployment Rate
Consumer Sentiment
120
Chart 12 – Unemployment – Source ABS
110
Australian Exchange Rates
100
Over June quarter 2015, the Australian Dollar increased slightly
against the US Dollar, increasing from $0.7634 in March to
$0.7680 in June. Over the twelve months to June, the
Australian dollar has decreased by -18.47% from $0.9420 USD.
90
80
70
Jun-15
Jun-14
Dec-14
Jun-13
Dec-13
Jun-12
Dec-12
Jun-11
Dec-11
Jun-10
Dec-10
Jun-09
Jun-08
Dec-08
Jun-07
Dec-09
Consumer Sentiment Index
Chart 15—Consumer Sentiment Index—Source Westpac Melbourne
Institute
Labour force
The Australian Dollar also recorded a quarterly decline against
the British Pound, Euro and the Japanese Yen. The Australian
Dollar exchange rates against the Pound, Euro and Yen fell by
-2.30%, -1.90% and –1.10% respectively.
Year on year analysis saw the Australian Dollar decline against
the British Pound by –5.40% to £0.4885 and -2.90% in the Euro to
€0.6866. The Australian Dollar experienced an annual increase
against the Yen of 2.40% to ¥93.92.
Over the month to June 2015, the number of unemployed
people increased by 12,791 from 743,358 in May to 756,149 in
June which is a 1.72% increase. In comparison to June 2014, the
number of unemployed people has increased by 10,451 which
reflected an annual increase of 1.40%. The unemployment rate
as at June 2015 is 6%.
100
90
0.90
80
0.80
70
0.70
60
0.60
50
0.50
40
0.40
0.30
30
0.20
20
Jun-06
Sep-06
Dec-06
Mar-07
Jun-07
Sep-07
Dec-07
Mar-08
Jun-08
Sep-08
Dec-08
Mar-09
Jun-09
Sep-09
Dec-09
Mar-10
Jun-10
Sep-10
Dec-10
Mar-11
Jun-11
Sep-11
Dec-11
Mar-12
Jun-12
Sep-12
Dec-12
Mar-13
Jun-13
Sep-13
Dec-13
Mar-14
Jun-14
Sep-14
Dec-14
Mar-15
Jun-15
Tasmania experienced an absolute increase in seasonally
adjusted employment by 2,064 persons to 240,272 persons. The
unemployment status in Tasmania over the June Quarter 2015
decrease by 0.1% to 6.5%.
110
1.10
1.00
1 $AUD buys (US, UK, Euro)
The number of unemployed seeking full time employment
recorded an increase over the month of June by 27,200 to
541,200 persons. The number of unemployed seeking part time
employment recorded a decreased over the month by 14,500
to 214,900 persons.
Movement in Exchange Rates
1.20
1 $AUD buys (Yen)
Dec-07
Jun-06
Dec-06
Jun-05
Dec-05
60
US $
UK Pound
Euro
Yen
Chart 16 –Movement in Exchange Rates – Source RBA
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Our Research
At Preston Rowe Paterson, we pride ourselves on
the research which we prepare in the market
sectors within which we operate. These include
Commercial, Retail, Industrial, Hotel & Leisure and
Residential property markets as well as
infrastructure, capital and plant and machinery
markets
We have all types of plant &
machinery covered
We regularly undertake valuations of all forms of
plant, machinery, furniture, fittings and equipment
including:
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Property and Asset Management
Listed Fund, Property Trust, Super Fund and
Syndicate Advisors
Plant & Machinery Valuation
General and Insurance Valuation
Economic and Property Market Research
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We have all client profiles covered
Preston Rowe Paterson acts for an array of clients
with all types of real estate, plant, machinery and
equipment interests such as:
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We have all real estate types covered
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We regularly provide valuation, property and asset
management, consultancy and leasing services for
all types of Real Estate including:
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CBD and Metropolitan commercial office
buildings
Retail shopping centres and shops
Industrial, office/warehouses and factories
Business parks
Hotels (accommodation) and resorts
Hotels (pubs), motels and caravan parks
Residential development projects
Residential dwellings (individual houses and
apartments/units)
Rural properties
Special purpose properties such as: nursing
homes; private hospitals, service stations, oil
terminals and refineries, theatre complexes; etc.
Infrastructure
Phone: +61 2 9292 7400
Fax: +61 2 9292 7404
Mining & earth moving equipment/road plant
Office fit outs, equipment & furniture
Agricultural machinery & equipment
Heavy, light commercial & passenger vehicles
Industrial manufacturing equipment
Wineries and processing plants
Special purpose plant, machinery & equipment
Extractive industries, land fills and resource based
enterprises
Hotel furniture, fittings & equipment
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Accountants
Banks, finance companies and lending institutions
Commercial and Residential non bank lenders
Co-operatives
Developers
Finance and mortgage brokers
Hotel owners and operators
Institutional investors
Insurance brokers and companies
Investment advisors
Lessors and lessees
Listed and private companies corporations
Listed Property Trusts
Local, State and Federal Government
Departments and Agencies
Mining companies
Mortgage trusts
Overseas clients
Private investors
Property Syndication Managers
Rural landholders
Self managed super funds
Solicitors and barristers
Sovereign wealth funds
Stock brokers
Trustee and Custodial companies
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We have all locations covered
From our capital city and regional office locations we
serve our client’s needs throughout Australia.
Globally, we operate directly or via our relationship
offices for special purpose real estate asset classes,
infrastructure and plant & machinery.
We have your needs covered
Our clients seek our property (real estate,
infrastructure, plant and machinery) services for a
multitude of reasons including:
Acquisitions & Disposals
Alternative use & highest and best use analysis
Asset Management
Asset Valuations for financial reporting to meet
ASIC, AASB, IFRS & IVSC guidelines
Compulsory acquisition and resumption
Corporate merger & acquisition real estate due
diligence
Due Diligence management for acquisitions and
sales
Facilities management
Feasibility studies
Funds management advice & portfolio analysis
Income and outgoings projections and analysis
Insurance valuations (replacement & reinstatement
costs)
Leasing vacant space within managed properties
Listed property trust & investment fund valuations &
revaluations
Litigation support
Marketing & development strategies
Mortgage valuations
Property Management
Property syndicate valuations and re-valuations
Rating and taxing objections
Receivership, Insolvency and liquidation valuations
and support/advice
Relocation advice, strategies and consultancy
Rental assessments and determinations
Sensitivity analysis
Strategic property planning
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Phone: +61 2 9292 7400
Fax: +61 2 9292 7404
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Head Office (Sydney)
Level 14, 347 Kent Street
Sydney NSW 2000
PO BOX 4120, Sydney NSW 2001
P: 02 9292 7400
F: 02 9292 7404
E: research@prpsydney.com.au
National Directors
Gregory Preston
M: 0408 622 400
E: greg.preston@prpsydney.com.au
Gregory Rowe
M: 0411 191 179
E: greg.rowe@prpsydney.com.au
Neal Ellis
M: 0417 053 116
E: neal.ellis@prp.com.au
Damian Kininmonth
M: 0417 059 836
E: damian.kininmonth@prp.com.au
Greg Sugars
M: 0435 911 465
E: greg.sugars@prp.com.au
www.prp.com.au
Capital City Offices
Adelaide
Rob Simmons
M: 0418 857 555
E: adelaide@prp.com.au
Brisbane
Troy Chaplin
M: 0419 029 045
E: troy.chaplin@prpqueensland.com.au
Hobart
Damien Taplin
M: 0418 513 003
E: damien.taplin@prp.com.au
Shelley Taplin
M: 0413 309 895
E: shelley.taplin@prp.com.au
Melbourne
Neal Ellis
M: 0417 053 116
Damian Kininmonth
M: 0417 059 836
Sydney
Gregory Preston
M: 0408 622 400
E: greg.preston@prpsydney.com.au
Gregory Rowe
M: 0411 191 179
E: greg.rowe@prpsydney.com.au
Affiliate offices in Canberra, Perth, Darwin and
other regional areas.
Regional Offices
New Zealand Offices
Albury Wodonga
Michael Redfern
M: 0428 235 588
E: michael.redfern@prp.com.au
Brian Mudge
M: +64 (0)27 226 3630
E: brian.mudge@prpnz.nz
Ballarat
Darren Evans
M: 0417 380 324
E: darren.evans@prp.com.au
Dunedin
Adam Binns
M: +64 (0)21 121 4611
E: adam.binns@prpnz.nz
Bendigo
Damien Jerinic
M: 0409 820 623
E: damien.jerinic@prp.com.au
Central Coast/Gosford
David Rich
M: 0413 052 166
E: david.rich@prp.com.au
Geelong
Gareth Kent
M: 0413 407 820
E: gareth.kent@prp.com.au
Stuart Mcdonald
M: 0405 266 783
E: stuart.mcdonald@prp.com.au
Gippsland
Tim Barlow
M: 0400 724 444
E: tim.barlow@prp.com.au
Alexandra Ellis
M: 0407 724 444
E: alex.ellis@prp.com.au
Griffith
Dan Hogg
M: 0408 585 119
E: daniel.hogg@prp.com.au
Horsham
Ben Sawyer
M: 0429 826 541
E: ben.sawyer@prp.com.au
Mornington
Neal Ellis
M: 0417 053 116
Damian Kininmonth
M: 0417 059 836
Wellington
Greymouth
Mark Bollard
M: +64 (0)27 694 7041
E: mark.bollard@prpnz.nz
Hamilton & Morrinsville
Russel Fergusson
M: +64 (0)27 291 3624
E: russel.ferguson@prpnz.nz
Tauranga
Alex Haden
M: +64 (0)21 833 118
E: alex.haden@prpnz.nz
www.prpnz.nz
Preston Rowe Paterson Australasia Pty Ltd
ACN: 060 005 807
The information provided within this publication
should be regarded solely as a general guide.
We believe that the information herein is
accurate however no warranty of accuracy or
reliability is given in relation to any information
contained in this publication. Nor is any
responsibility for any loss or damage whatsoever
arising in any way for any representation, act or
omission, whether expressed or implied (including
responsibility to any person or entity by reason of
negligence) accepted by Preston Rowe
Paterson Australasia Pty Ltd or any of its
associated offices or any officer, agent or
employee of Preston Rowe Paterson Australasia
Pty Limited.
Newcastle
Robert Dupont
M: 0418 681 874
E: bob.dupont@prp.com.au
Tamworth
Bruce Sharrock
M: 0429 465 012
E: bruce.sharrock@prp.com.au
Matt Spencer
M: 0447 227 002
E: matt.spencer@prp.com.au
Wagga Wagga
Dan Hogg
M: 0408 585 119
E: daniel.hogg@prp.com.au
Warrnambool
Stuart McDonald
M: 0405 266 783
E: stuart.mcdonald@prp.com.au
Phone: +61 2 9292 7400
Fax: +61 2 9292 7404
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Tasmania Property Market Report - June 2015

Transcription

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