{"id":22097,"date":"2018-08-23T01:00:47","date_gmt":"2018-08-22T15:00:47","guid":{"rendered":"https:\/\/realestatetalk.com.au\/?p=22097"},"modified":"2018-08-23T01:00:47","modified_gmt":"2018-08-22T15:00:47","slug":"mindset-adjustment-required-for-commercial-investment-simon-staddon","status":"publish","type":"post","link":"https:\/\/channels.realty.com.au\/realtytalk\/mindset-adjustment-required-for-commercial-investment-simon-staddon\/","title":{"rendered":"Mindset adjustment required for commercial investment \u2013 Simon Staddon"},"content":{"rendered":"

With the slowing down of the residential investment market, a growing number of traditional residential investors are shifting their focus to the stronger underlying real estate attributes and superior tenants on offer in commercial property investment according to Simon Staddon<\/strong>.\u00a0 He explains the potential and the possible pitfalls.<\/p>\n

Transcript:<\/strong><\/p>\n


\nKevin:<\/strong>\u00a0 With the slowing down of the residential investment market, a growing number of traditional residential investors are shifting their focus to the stronger underlying real estate attributes and superior tenants on offer in commercial property investment, according to Simon Staddon of Burgess Rawson.<\/p>\n

They are a full-service Australia-wide agency carrying out sales, valuations, leasing, and managing commercial and residential investment property, and featured, of course, in the latest edition of\u00a0Your Investment Property<\/em>\u00a0magazine. Simon joins me.<\/p>\n

Good morning, Simon.<\/p>\n

Simon:<\/strong>\u00a0 Yes, good morning, Kevin. How are you?<\/p>\n

Kevin:<\/strong>\u00a0 Simon, has price-parity had a lot to do with the increase in the number of investors who are turning to commercial property investment?<\/p>\n

Simon:<\/strong>\u00a0 Yes, I think it has, Kevin. It just continues on, I suppose, with Aussie\u2019s love affair with real estate generally. I think it\u2019s fair to say they do love real estate and particularly, residential. But I\u2019m always going to be very biased; I\u2019ve been in commercial property for a very long time and I can see commercial property has huge advantages as far as I\u2019m concerned.<\/p>\n

But price-parity, yes, it comes back to the residential median house price very often. If you look in Sydney, the median house price, let\u2019s call it circa over $1 million, but there has been a slowing of the residential market as you just indicated.<\/p>\n

And there\u2019s no question that traditional residential investors are now\u2026 We\u2019re seeing a lot of it because we monitor enquiry and everything else in our agency, and there\u2019s a lot of people coming out of residential because they\u2019re not quite sure where it\u2019s going, and the commercial investment market is just kicking along. Low interest rates still, and it really is business as usual. It\u2019s a very strong commercial investment market at the moment, and that\u2019s exactly the area of the market that we are very much at the coalface of things.<\/p>\n

Kevin:<\/strong>\u00a0 I want to ask you about the differences between residential and commercial, which we\u2019ll get into in just a moment. But before I do, are you seeing a number of people diversifying out of residential, keeping their residential but adding commercial to their portfolio, and vice versa, I guess?<\/p>\n

Simon:<\/strong>\u00a0 Yeah, absolutely. And there\u2019s a logical step\u2026 I think if someone has been a traditional residential investor for a number of years \u2013 and we\u2019ve seen this in our agency \u2013 I think the first logical step is sometimes into an asset class like childcare, because obviously, it brings in elements of residential but is also a commercial asset class in its own right. It\u2019s a very, very popular asset class.<\/p>\n

I look back to, say, 2010\/11, yields on childcare investments were around 8% believe it or not in that timeframe. 2017\/18 now, they\u2019ve compressed to under 5%. That\u2019s a huge difference, but it\u2019s a very hot sector and it\u2019s a very logical thing for traditional \u201cressie\u201d investors to come into. It\u2019s obviously not the only asset class, but it\u2019s a stepping stone, if that makes sense.<\/p>\n

Kevin:<\/strong>\u00a0 How does investing in commercial property vary from investing in residential property, putting aside the mindset, which I\u2019ll deal with in just a moment?<\/p>\n

Simon:<\/strong>\u00a0 Again, I\u2019ll come back to that point, Kevin, that I\u2019m a little bit biased with commercial property generally, but there are so many advantages in many ways to commercial property. A lot of residential investors don\u2019t realize that very often, under the terms of a commercial lease, a tenant might actually pay all the outgoings, which would include council rates, land tax, insurance, and land taxes really surprises people on a single-holding basis.<\/p>\n

But the advantages obviously are the quality of tenant. We sell a lot of brand-name investments, and obviously, with residential property, you\u2019re dealing with moms and dads or whatever, but with commercial property, you can secure a very good tenant who will pretty much look after everything in terms of outgoings.<\/p>\n

In terms of rental increases, we\u2019ve just been instructed on a property in Darlinghurst, a retail investment, and that has 4% annual increases, which is really a huge advantage because the value of your commercial investment will go up by the increment of 4%. And obviously, as the rent goes up, it is just a question of what yield is and the value of the property. The capital value of the property goes up as well.<\/p>\n

Kevin:<\/strong>\u00a0 Yes, you get a different style of tenant, don\u2019t you? You get more of a business tenant as opposed to a residential\/family, emotional type tenant as well.<\/p>\n

Can I take you in another direction because we\u2019re running out of time here, Simon? But I just want to ask you, does it actually require an adjustment in mindset for the investor to move into this area?<\/p>\n

Simon:<\/strong>\u00a0 Yes, I think it does. I think a residential investor is very location-specific. They have a location-specific mindset. With commercial property, the primary drivers over residential can be such things as asset class, strength of tenant profile, and the length of the lease. The length of the lease is very, very important. If you get a Coles as a tenant and you have it on a brand-new 15-year lease, it\u2019s set and forget. And that mindset is very different.<\/p>\n

Investors will go in any location. We sell property all over Australia. It\u2019s really a numbers game, and the location is not the primary driver very often. I can give you lots of examples on that on fast foods or whatever where we\u2019re selling Coffs Harbour, a Guzman y Gomez at 4.5%. That\u2019s not based on the location. It\u2019s based on asset class, length of lease, depreciation, etc.<\/p>\n

Kevin:<\/strong>\u00a0 And those factors, in some way, are determined by location, though, aren\u2019t they? I know what you\u2019re saying; the value of the property is determined by the strength of the lease. But would I be correct in saying the strength of the lease is sometimes determined by the location if it\u2019s a prime location for the commercial property? A Coles is an example.<\/p>\n

Simon:<\/strong>\u00a0 A Coles, yes. It\u2019s one of those things when people come to ask, they are inquiring on a commercial property we\u2019re selling, not because of where it is, because of the tenant and the length of the lease.<\/p>\n

Kevin:<\/strong>\u00a0 That\u2019s right. I do understand that.<\/p>\n

Simon:<\/strong>\u00a0 That\u2019s the primary driver, very often. Obviously, location is still important \u2013 of course, it is \u2013 but a lot of people in residential find that surprising.<\/p>\n

Kevin:<\/strong>\u00a0 Yes. The point I was making \u2013 and maybe I didn\u2019t make it clearly enough \u2013 was that the tenant will always look for a good location, particularly if it\u2019s a Coles.<\/p>\n

Simon:<\/strong>\u00a0 Of course.<\/p>\n

Kevin:<\/strong>\u00a0 Exactly.<\/p>\n

Simon:<\/strong>\u00a0 Fast foods: McDonald\u2019s, they\u2019ve done on a lot of due diligence on their site. Exactly. It gives investors the confidence. If McDonald\u2019s have done their DD on the site, it\u2019s good enough for me.<\/p>\n

Kevin:<\/strong>\u00a0 Good stuff. Simon has been my guest. Simon Staddon. Simon is from Burgess Rawson and is featured in the latest edition of\u00a0Your Investment Property\u00a0<\/em>magazine.<\/p>\n

Simon, thank you so much for your time. I appreciate it.<\/p>\n

Simon:<\/strong>\u00a0 No problem, Kevin. Thank you. My pleasure.<\/p>\n","protected":false},"excerpt":{"rendered":"

With the slowing down of the residential investment market, a growing number of traditional residential investors are shifting their focus to the stronger underlying real estate attributes and superior tenants on offer in commercial property investment according to Simon Staddon.\u00a0 He explains the potential and…<\/p>\n","protected":false},"author":176692473,"featured_media":22089,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[32,33,10,11,13,36,22,25,27],"tags":[101],"class_list":["post-22097","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-buying-a-property-topic","category-case-studies-topic","category-kevin-turner-sponsored-channels","category-kevin-update","category-latest-story","category-property-investment-topic","category-research-topic","category-sponsored-channels","category-trends-topic","tag-podcast"],"yoast_head":"\nMindset adjustment required for commercial investment \u2013 Simon Staddon - 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