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Townsville Financial Year 2023 Commercial Property Report

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The flight to quality is over in Townsville’s Commercial property real estate market, as listings struggle to keep up with a strong regional economy.

Colliers Townsville’s Financial Year 2023 Commercial Property Report found a high level of demand has continued, driven by a local economy experiencing population growth, well below-average unemployment, and major construction activity. A shortage of available properties is pushing buyers towards smaller, lower quality properties.
 


Townsville Financial Year 2023 Commercial Property Report

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Peter Wheeler

Managing Director | Townsville

Townsville

Peter is a third generation Townsville resident with over 25 years experience in Commercial & Industrial real estate.  He has gained his initial grounding in the industry with one of Townsville's oldest real estate firms and in November 1997 established the first real estate company in Townsville with an exclusive focus on the commercial and industrial property market.  Peter then joined forces with Colliers International in 2004.

Peter is widely regarded as one of the most knowledgeable people in commercial and industrial property in the Townsville region and respected for his professionalism, integrity and commitment to his clients, staff and community.  Through a combination of high-level negotiation skills, intimate knowledge of regional property values and wide network of contacts, Peter delivers continual benefits to his clients and has been instrumental in closing some of the largest property deals in the city.

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Angelo Castorina

Associate Director | Townsville

Townsville

Angelo has been a Property Consultant for some 40 years, and a Certified Valuer for 33 years. He has a Bachelor of Commerce Degree from James Cook University of North Queensland.

Angelo's areas of expertise vary from commercial and industrial to Receivership and Mortgagee work, to particular knowledge of the sugar cane industry having come from the Burdekin District and marketed cane farms during his entire property marketing career. Angelo has consulted on projects such as the Department of Defence’s disposal of surplus lands at the approach of Townsville Airport, resulting in a project management exercise to subdivide commercial allotments and then the orderly disposal to achieve a higher than expected yield for the Department.

Angelo's experience has seen him administer the disposal of some 24 former cane farms and grazing properties in North Queensland and the Northern Territory under the liquidation of the Great Southern plantations and recent achievements include the successful marketing of a 2000-community lot subdivision with golf course at Airlie Beach in Receivership.

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