Developers and retailers are heading to the bush in their search for new markets for expansion, according to Mike Macqueen, NSW Chairman of First National Real Estate.
“Our regional and country offices report a substantial increase in interest from developers,’’ says Macqueen.
He claims both traditional shopping and bulky goods centres are now being established in country areas that previously didn’t rate a mention with developers. “Large scale retailers and developers are on the lookout for new locations as there are fewer opportunities for expansion within the metropolitan area and population shifts have made regional and rural areas attractive alternatives for this growth,” he says.
“There appears to be substantial interest in regional areas for the bulky goods sector with eastern seaboard now a popular target for this type of development.
“Regional cities boast enormous potential because of the freeway infrastructure which provides easy access to Sydney, coupled with lower property prices and forecasted population growth.
“Another reason for the interest in rural and regional area is the increased popularity in retail property investments.
“In the past. rural and regional property was considered to be a more risky investment, when compared with city property. This attitude no longer prevails.”
