Transport the Most Active Industry in Port Hedland

Date: 1 August 2017
Transport the Most Active Industry in Port Hedland
Richard Hamlin of First National Commercial Hedland (Port Hedland, WA) says commercial sales and leasing has increased throughout 2017, with the transport industry being the most active.  Rents, however, have dropped by an average of 50%, and poor quality properties with substandard infrastructure and/or small land areas have fallen in value by over 70 per cent.  However, a limited number of buyers continue to show interest in ‘one-off’ special use properties. 

A shortage of transport or heavy industry zoned developed blocks is leading to new builds where lease-back take-off agreements are in place.
 
Mortgagee in possession sales have set artificially low precedents of late, however, it is anticipated the drag on the market caused by such sales will soon end and prices will recover to at least replacement cost.
 
Major banks are requiring up to a 40 per cent deposit before considering finance, which contributes to a challenging market for vendors and weakens demand.
 
Back to articles Filed under: Media / WA News Tags: banks, builds, deposit, heavy, hedland, in, industry, infrastructure, mortgagee, new, port, possession, properties, special, transport, use
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