Barker Street, Casino.
Barker Street, Casino. Marc Stapelberg

Business expansions help values in Richmond Valley

COMMERCIAL land values increased by 5.2 per cent across Richmond Valley local government area between 2017 and 2018, as a result of increased demand for this property type.

The Richmond Valley has 315 commercial properties, predominantly located in Casino, and a smaller area of commercial zoned properties in Evans Head.

The Casino commercial market had around 10 market sales throughout the 2017-2018 financial year, which was a marked decrease on prior year.

The increase in commercial land values was driven by a few business expansions supported by government funding.

Typical commercial land values

  • Barker St, Casino (762 sqm): $105,000, up 4 per cent
  • Centre St, Casino (651.29 sqm): $110,000, 6.8 per cent
  • Johnston St, Casino (5415 sqm): $280,000, up 7.7 per cent
  • Stapleton Ave, Casino (539.48 sqm): $105,000, up 4 per cent
  • Woodburn St, Evans Head (1012 sqm): $350,000 5.4 per cent.