Due dilligence on market rate?

[eggnog]

How does one go about finding out what the market going rate per m2 other tennants are paying for in a particular area.

 

[gekko_99]

There's no good database for leasing that I'm aware of in Qld.

This http://www.commercialrealestate.com.au/ has a leased section which you can ring agents to check details with. Or there's http://propertyweb.com.au/ but you have to pay for these.

Another way is to get the tenancy schedule out of information memorandums of similar style properties for sale in the area and looking for relevant evidence within that.

If something has been leased nearby which you know of the lease may be registered on title, you can pay for this but the title is about $20 and the lease is about $30, large leases should be registered on title although there's no guarantee that it will be there.

The final one is to cold call some agents and ask for evidence and advice, it can be hard to get this though. If you don't get any evidence they might at least give you a gut feel or put you in the right direction for some.

 

[markp]

You could ring off sign boards in the area or try the good old fashioned newspaper. The last time I looked agents were still advertising commercial space to lease. I find commercial agents very professional and helpful.

cheers

 

[Perp]

I also ring a local commercial valuer, and have found them usually quite willing to share. After I get their figure, I usually count on getting somewhere between the optimistic estimate of the real estate agent, and the overly conservative estimate of the valuer.