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Perth Property Collapse - Rent Desperation
Topic Started: 17 Oct 2014, 11:55 AM (4,812 Views)
Blondie girl
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Igrisil
17 Oct 2014, 11:55 AM
Went looking at office space for work

Got offered 2 free years rent and maintenance, bins, cleaning etc for a 5 year contract. 40%+ off

Let the next agent know at the next office. I'll give you lower rent (10%) and 1 year free. 20%+ off.

looking at 3 more today got a feeling they are going to be similar.

Perth's fked. No jobs. No money. Splat.

Reminds me of dub at the start of the crash. Everything was for rent discounts all over. Yields were 0% or -ve... Dudes giving out big discounts, free rent etc. Heaps of popup suburbs all over the place at the edge of the city. New estates appearing everywhere. Almost exactly the same. Being told this land in the middle of nowhere with no shops or train or busses or poliece or firestation is worth 100-200k

Pretty sure Perths stuffed.

Your thread title is deceiving, you are rabbiting on about commercial rather than residential Perth prop investing .

Depends where really..

In Henderson, there's 3 factory units split up.. One contained a very nice biggish boat that was used for personal bizness (it was being built) used the other rented to wholesaler tenants. One did the take a while to lease but it did get tenants.

The only downer is when 1 notices the other tenant in 1unit vacated they think they can take over the other designated areas with their crap.

Just another day in Perth.

Meanwhile keep searching for your bargZins ..you still need to pay the rent at the end of the day.. & if your Bizness is crap well, you will be the not laughing anymore.


Guest
17 Oct 2014, 08:09 PM
Thanks for the update.

Was just wondering, when in the dub, did you hear the exact same comments from property bulls like you do here, right before property crashed ?
Just rubber duck the tub
..
That should make you happy..
Yes, it depends on locations, yes it's not been good in centralPerth areas, but commercial R/e is not an easy area to be in at the best of times... Really depends on the type of Bizness.
Edited by Blondie girl, 17 Oct 2014, 10:53 PM.
Newjerk? can you try harder than dig up another person's blog. My first promo was with Billabong and my name in English is modified with a T, am Perth born but also lived in Sydney to make my $$
It's Absolutely Fabulous if it includes brilliant locations, & high calibre tenants..what more does one want? Understand the power of the two "P"" or be financially challenged
Even better when there is family who are property mad and one is born in some entitlements.....Understand that beautiful women are the exhibitionists we crave attention, whilst hot blooded men are the voyeurs ... A stunning woman can command and takes pleasure in being noticed. Seems not too many understand what it means to hold and own props and get threatened by those who do.
Banks are considered to be law abiding and & rather boring places yeah not true . A bank balance sheet will show capital is dwarfed by their liabilities this means when a portions of loans is falling its problems for the bank.
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Foxy
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Zero is coming...

Igrisil
17 Oct 2014, 11:55 AM
Went looking at office space for work

Got offered 2 free years rent and maintenance, bins, cleaning etc for a 5 year contract. 40%+ off

Let the next agent know at the next office. I'll give you lower rent (10%) and 1 year free. 20%+ off.

looking at 3 more today got a feeling they are going to be similar.

Perth's fked. No jobs. No money. Splat.

Reminds me of dub at the start of the crash. Everything was for rent discounts all over. Yields were 0% or -ve... Dudes giving out big discounts, free rent etc. Heaps of popup suburbs all over the place at the edge of the city. New estates appearing everywhere. Almost exactly the same. Being told this land in the middle of nowhere with no shops or train or busses or poliece or firestation is worth 100-200k

Pretty sure Perths stuffed.

Thats what i have been telling you.

Peter
http://www.afr.com/content/dam/images/g/n/2/1/u/8/image.imgtype.afrArticleInline.620x0.png/1456285515560.png
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Perthite
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The bust in Perth's CBD office market has been well documented anyway.

Bulls have not even given a theory on why. Amusing stuff.
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Perthite
18 Oct 2014, 11:18 AM
The bust in Perth's CBD office market has been well documented anyway.

Bulls have not even given a theory on why. Amusing stuff.
You are full of it mate, Perth CBD saw a sharp rise in vacancy for 2 reasons.

1. Rio built their OC out at the airport and is transitioning 100's of people out there
2. BHP built a new huge building of their own and moved all their people in.

Take those 2 out of the equation and it's a no brainer.
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newjez
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Perthite
18 Oct 2014, 11:18 AM
The bust in Perth's CBD office market has been well documented anyway.

Bulls have not even given a theory on why. Amusing stuff.
Isn't it part of the cycle?
Whenever you have an argument with someone, there comes a moment where you must ask yourself, whatever your political persuasion, 'am I the Nazi?'
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szokolay
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It's that part of the business cycle where businesses collapse, on mass it seems.
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Mustapha Mond
18 Oct 2014, 10:46 AM
Thats what i have been telling you.

Peter
Yes you have. Sometimes your posting style may cause people not to take you seriously, but chances are you saw something the Perth perma bulls missed, and I give you credit for that.
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Perthite
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Skamy disagrees.

here - http://australianpropertyforum.com/topic/10195536/3/

Apparently we read to much news.com.

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Foxy
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Zero is coming...

The mining projects are being completed.
Like packing up after a BBQ.

No magic.

Peter
http://www.afr.com/content/dam/images/g/n/2/1/u/8/image.imgtype.afrArticleInline.620x0.png/1456285515560.png
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doubleview
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Been catching up with WA people this week, people I trust....exact words....rents have fallen considerably espec residential units!

Units that once rented for $400 p/w are now lucky to get $340....10% min up to 30% drops I am hearing!

LL are getting desperate as well knocking on new tenants doors asking what they just signed their new lease for.

LL that have been empty for a while the desperation is setting in.

This is the man on the street talking...not some vested interest levered to the eye balls head in the sand goose.
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