27 September, 2011

Raine & Horne Commercial Bayside shakes up commercial property market with local talent

Raine & Horne Commercial is enhancing its reputation as a leader in Brisbane’s commercial real estate markets with its new office in the southern region of Bayside.

According to Raine & Horne Commercial Bayside principal Joseph Grasso, the firm is providing clients with a strong alternative in the Bayside commercial property market.

Mr Grasso, who also operates the very successful Raine & Horne Commercial Brisbane Southside, said the Bayside area had been crying out for competition in the commercial real estate space.

“When the opportunity to establish a new office with experienced team members presented itself, we jumped at the chance,” Mr Grasso said.

Mr Grasso said he and co-principal Nick Comino made the decision to branch out when it became clear the new office could be built around commercial property specialists who had an established presence in the Bayside area, a factor he believed would ensure a solid foundation for the business.

“The commercial real estate market in Capalaba turns over about $45 million in sales each year, not including leasing transactions, while neighbouring Cleveland has between $17 and $20 million in commercial sales. This made it essential to recruit the right people.”

Indeed, Mr Grasso is excited by the opportunity to work with Kevin Murdock at Raine & Horne Commercial Bayside, who brings 25 years of local commercial real estate knowledge, as well as Bayside resident Brian Manne, currently part of the Raine & Horne Commercial Brisbane Southside team.

Currently located at Shop 12, 135 Bloomfield Street, Cleveland, Raine & Horne Commercial Bayside is now set to relocate to larger premises to facilitate the fledgling firm’s expansion.

“We have only been in operation for just over four months, but the business is already growing and we’re due to move to our new Capalaba office in the next four to six weeks,” he said.

“This shows that in a short time we are becoming a brand of choice in the area, with strong local commercial experts joining our team.”

This made the pending move all the more timely, he added, noting that Capalaba was seen as the epicentre of business in the Bayside area.

Mr Grasso also noted that Bayside commercial property was a competitive market, because of the nature of demand and supply in the area.

“There is little in the way of land for new development in and around Capalaba, and this means people need to look at existing properties when they are searching for commercial premises.”

However, Mr Grasso expected the three distinct commercial markets in the Bayside region to bring opportunities for his firm.

“With a combination of strong retail, office and industrial precincts, the Bayside market offers something different from our parent office Raine & Horne Commercial Brisbane Southside, which is based in Rocklea, and where the majority of our work is in industrial real estate.

“This will enable us to diversify across several commercial markets to help us maintain consistent business growth and cash flow.”

Raine & Horne Commercial CEO Angus Raine congratulated Mr Grasso and Mr Comino on their decision to open a second office in one of Brisbane’s most strategic commercial hubs.

“The new office in Bayside is further demonstration of Raine & Horne Commercial’s continuing expansion, with other offices in the pipeline for the Central Coast of NSW and the St George area of Sydney,” Mr Raine said.

For all your commercial real estate needs, contact Raine & Horne Commercial Brisbane Southside on (07) 3216 6666.

Raine & Horne is an iconic Australian property firm, with more than 360 offices worldwide. Also an established Superbrand along with Qantas, Vegemite, Woolworths and Myer, the company has three distinct property service brands including Raine & Horne Residential, Raine & Horne Commercial and Raine & Horne Rural.