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Commercial Update with Ted February 2017

Wollongong/Illawarra Commercial Real Estate Market Update

This is Ted Hanson and welcome to the 2017 edition of the video newsletter. This time I'm going to focus a little more on the air-conditioning because it's been a big issue this summer.

We've found high volumes of breakdown as a result of generally poor maintenance on split system particularly but ducted systems as well. I'd suggest you be very careful about looking at the lease issues. The lease would often contain responsibilites that the maintenance is for the tenant to look after as a resolve that if there's a breakdown, the owner has the right to ask on bill any maintenance and breakdown issues directly to you.This year again we're seeing an increasing enquiry on retail premises which is very encouraging. Office spaces are languishing, warehousing again is actually quite strong with repurposing the main reason people are looking at warehousing.This is Ted Hanson signing off, until next time.