Despite uncertain economic conditions commercial property opportunities remain strong for investors, according to Deloitte.
The firm’s 2008 Real Estate Capital Markets Industry Outlook released yesterday indicated that commercial property, globally, had remained strong in terms of performance and stability, regardless of the global credit crunch.
“Fundamentals of the Australian market continue to be strong, which often is ignored in the context of the sub-prime situation,” Ian Breedon, lead partner of Deloitte’s Real Estate Group in Australia, said.
Returns on commercial property will be lower compared with recent years but in contrast to other investment categories Mr Beedon said commercial property would continue to be an attractive investment due to its “stability and opportunity for diversification”.
Heritage Bank’s NSW and ACT state manager Paul Moses is set to become its new head of broker experience, replacing...