South Coast is hot property
Commrtvisl real estate opportunities on the South Coast continue to be hot property for investors after two sites in Batemans Bay and Bega went under the hammer last month. In Batemans Bay, a state-of-the art food processing facility, under a 10-year lease to Appellation Oysters, sold for $3.5 million on a 5.71 percent yield. Burgess Rawson selling agent Darren Beehag said with investor demand for the South Coast region he had expected the site to do well.
“Industrial property is really in demand, particularly for a food-related processing facility, and it has taken off throughout the pandemic,” he said.
“Investors see food processing sites as being pretty COVID and recession-proof because it falls in that “essential service” asset class people are gravitating towards.”
The commercial real estate market is being tipped as one of the strongest in 45 years, and a second investment opportunity in Bega was snapped up before auction.