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.