MARKET UPDATE Current Mood.

In our April Edition we predicted an economic tsunami has hit our shores – and this has come to fruition and will continue to cause concern for commercial property owners post financial year.

The high level of statutory compliance causing the cost to deliver to increase, new State Government property taxes causing a negative impact to current property owners and limited funding options with higher metrics has resulted in all stakeholders to undertake a full re-assessment as net cashflows are being squeezed.

More than ever the list of FAQs continues to grow and some are:

• How long will it take to lease my property?

• What is a landlord incentive required to secure a tenant?

• Do I need to spend money on refurbishment?

• Have rents decreased and by how much?

• Should I sell now or later?

• What is the impact of the new property taxes?

• Are buyers active?

• How much should I spend on marketing?

• Etc. etc. etc. …

So, it starts with an Aston Team belief that there is a solution for every scenario and more importantly, there is no “right” or “wrong” answer, but a comfort that with open and frank discussion based on ‘doing our homework first then implementing a solution’, we will go a long way to helping our Clients navigate through these uncertain times.

We’re here to help – so please connect with us anytime.

FRED NUCARA

MANAGING DIRECTOR