About the Farmers’ Market About the Farmers’ Market About the Farmers’ Market The Big Top Farmers’ Market is set to open during Easter 2015. Located in the heart of Maroochydore on the corner of the bustling Ocean Street, Horton Parade and Duporth Avenue, these markets present an exciting opportunity for locals as well as visitors to enjoy the freshest local produce direct from some of the finest producers in the region. The Big Top Farmers’ Market will be operated by Shane Stanley who has an enviable reputation as one of the nation’s leading operators after commencing the iconic and award winning Noosa Farmers’ Market in November 2002. Over the years Shane has become a passionate advocate for local farmers and the Sunshine Coast in general and in 2014 he was nominated as a Restaurant Australia Ambassador to help promote Queensland produce nationally and internationally. Shane jumped at the opportunity to become the operator of the Big Top Farmers’ Market as he saw a fantastic opportunity for local farmers and producers to interact and sell direct to consumers in an undercover central location with abundant parking. There are so many different types of market stalls including fruit and vegetables, freshly squeezed juices, sumptuous marinades and sauces, nuts and seeds, olives and tasty tapenades, herbs, fresh seafood, organic meat, freshly baked bread and creamy cheeses. Markets to open every Wednesday and Saturday from 8am to 3pm and for the Friday night markets which includes artisan products and gifts from 4pm until 9pm. By Craig...
Sunshine Coast Commercial Office Update Nov-2014 Sunshine Coast Commercial Office Update Nov-2014 General The Sunshine Coast recorded the third highest improvement in vacancy of any market in the country, and along with the Gold Coast was one of only six markets to record a positive vacancy shift over the period, Queensland Executive Director of the Property Council of Australia Kathy Mac Dermott says. Vacancies After recording a 0.5% vacancy increase between 2012 and 2013, the Sunshine Coast has experienced a decrease from 14.1% to 12.3% in the most recent report. This is due to 2,185 square metres of net absorption and 700 square metres of withdrawals. Rents Effective rents have continued to struggle especially for B & C grade stock around Maroochydore with incentives of typically two to three months on a three year lease. A grade stock is still in demand and has held its rental level reasonable well. Face rents within the main centres A Grade – $280-350/sqm, B&C Grade – $180-$270/sqm Yields Prime yields ranging from 7.5%-8.5% and secondary yields at 8.5% and above. Supply There is a considerable supply of secondary (B&C Grade) stock throughout the Sunshine Coast; however the overall vacancy is decreasing. Demand There is limited demand for secondary stock, which is reflected in capital values and face rents. A grade stock is still sort after especially within the main strips and hospital precinct of Kawana. Future Value Forecast Given the overall slowdown and regression of property values on the Sunshine Coast within the last 6 years, we would expect future value trends to be slowly recovering. This slow moving correction is evident by the sharp decline in the vacancy rate, which should continue to...
Sunshine Coast Industrial Update Nov-2014 Sunshine Coast Industrial Update Nov-2014 General The Sunshine Coast Industrial Market is one which continues to slow being generally over-supplied. Development activity across the Sunshine Coast is stagnating with many of the smaller developers having withdrawn from the market. Land values Caloundra West and Kunda Park – $175/sqm, – $300/sqm, Coolum – $150/sqm – $250/sqm for smaller sites with larger sites (1 ha plus) achieving $100/sqm – $220/sqm. Vacancies Strata units have been high in most areas, leading to a decline in rents. Stand alone facilities have been reasonably well sought after in most areas. Rents Effective rents have fallen with incentives of typically one to two months on a three year lease commonplace in today’s market. Prime strata face rents Warana, Kunda Park and Caloundra, – $110/sqm, Coolum – $80-$100/sqm Noosaville – $115-$150. Yields Prime yields ranging from 8.5%-9.5% and secondary yields at 9.5% and above. Supply There is a considerable supply of industrial land, stand alone and strata titled properties throughout the Sunshine Coast area. Demand There is limited demand for Industrial investments in this location, unless properties are offered for sale with long term lease terms to National tenants. Future Value Forecast Given the overall slowdown and regression of property values on the Sunshine Coast within the last 6 years, we would expect future value trends to be slowly recovering. This would come off the back of an overall stronger residential market and increased...
The Importance of "Independent" Advice The Importance of "Independent" Advice In July of this year a story arose of the UK involving Barclays attempting to sue mortgage brokerage Savills Private Finance and chartered surveyor Stocker & Roberts Partnership for losses from an alleged mortgage fraud.   It was alleged that Savills fixed over inflated valuations on various properties and were apparently paid quite handsomely for doing so. At the time “no money down” deals were rampant with the cornerstone of this beingthe ability to have a “property power team”.  Effectively these deals ensured that none of the investors money remained in the deal thereby forcing banks to take on the full risk. Participants in the “team” controlled everything from sale and first mortgage, valuations required and sales and/or remortgages.  The incentive of course was a nice fat payment.  Involved was: A dodgy valuer. A dodgy broker. A dodgy solicitor. And a couple of fraudulent mortgages. Without going into the detail of these deals (more can be read here if interested)  the outcome was plenty of property grossly over valued and with no remaining equity in them. So when we talk about “independent” property valuations here at Australian Valuers we really do mean “independent”. We have been in business a long time due to our integrity and professionalism and as registered valuers we ensure you benefit from our industry knowledge and experience thus in return receiving an independent, well researched valuation...