Josh Harris joined the RWC (Ray White Commercial) Noosa & Sunshine Coast team last year, bringing a valuable and unique perspective to commercial real estate.
With combined experience in commercial banking, development and the real estate sector, Josh is well-placed to support clients through all aspects of commercial property transactions.
“Having a banking background means I can have well-informed conversations about financing commercial property purchases with prospective investors. In my career, I’ve dealt extensively with banks and funding bodies so I can speak with vendors about funding options and what to do to prepare for sales or purchase,” he said.
Josh has a strong background in commercial property development consulting, as well as investments in the development space, so it’s no surprise that he enjoys guiding others through the development process.
“I can support clients through the entire process including putting together an initial feasibility document and drawing on my knowledge and connections to inform the type of development to suit the site, as well as estimated yields,” Josh explained.
Josh understands the importance of building strong relationships and an agent’s role in achieving the best possible outcomes. He’s respected for his problem solving abilities and ability to negotiate complex transactions to get exceptional results for all parties.
At a time when there is so much uncertainty about interest rates, Josh is fielding a lot of questions. He says it’s helpful for business owners to have a good understanding of how commercial lending works.
“Having the right information about lending rates and capabilities before making a decision is key. Explore the Loan Prime Rate (LPR) or preferential lending rates offered and what it means for you. Different banks have different LPRs and require different equity. At the moment, some banks require 50% equity for certain commercial property types,” Josh said.
At RWC Noosa & Sunshine Coast, Josh brings his knowledge to the agency rent roll market, adding value to the extensive experience of the existing team.
“We’re starting to see residential rent roll multiples on the Sunshine Coast at $3.25, up from around $2.80 only 18 months ago. There have been substantial increases in demand with many people still looking to increase the size of their business to capitalise on strong rental growth. It’s an exciting area with plenty of room to grow,” he said.