May Estates Pty Ltd | Estate agent

May Estates Pty Ltd

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25.01.2022 COVID-19 effect on Commercial Property Owners The recent government enforced shut down of many small businesses, particularly retail, will impact in some way on commercial property owners. It is hoped that if all abide by the recent restrictions on congregation and disinfection that the infected parties can be identified, isolated & treated, and we can all get on with life again. On the other hand, if people do not abide by the restrictions on meeting, congregating and disinf...ection, the virus will continue to affect us all for much longer. Most businesses that are genuinely viable will be on a solid footing to carry on once this crisis has past. Businesses which were only marginally viable before the crisis are unlikely to be able to weather the virus and start up again once this is all over. The Commonwealth Government & some State Governments have already put in place certain measures to help small business & employment, which are likely to be hit hardest by the crisis. We understand that there are more measures to come, which will assist business in dealing with their fixed overheads, which obviously include rent. As this is a National emergency, the Governments are the ones who are charged with managing our social welfare by medical assistance, and our livelihoods by the re-distribution of our national wealth. I do not believe that it is really up to landlords to subsidise business. However, there will be some delay in businesses actually receiving financial benefits, which I understand are to be tied to the lodgement of BAS. Determining factors for the receipt of benefits will be monthly wages bill and in some cases, the previous years turnover. In the unusual circumstances in which we find ourselves, landlords and tenants will, where appropriate or necessary, need to work together to devise a mutually acceptable way through the commercial challenges that will confront many of us. In cases of genuine financial hardship it would be in everyones best interests to vary or amend payment terms. However this is not a burden which should be borne by property owners alone, many of whom also have financial obligations to meet. The respective State and Commonwealth Governments need to play their part- there are many ways that they can provide meaningful assistance including waiving land tax where the landlord provides a matching level of rent relief, deferring BAS payments etc. Whilst the Banks have signalled their willingness to assist, as far as I am aware this does not involve the write off of interest payments. These conditions are unprecedented in our times, so there is no blue print as to how to proceed. I trust that these thoughts are of assistance. Gregory May See more

25.01.2022 COVID-19 implications for the Retail Property Market in Australia. Whilst we are only at the beginning of the COVID-19 epidemic, it is impossible to say at this... time how long this will affect our daily lives & shopping habits. Needless to say, it is going to have some major effect on general retail activity. This all comes on top of the considerable effect that the enthusiastic embracing of online shopping has had on store sales and foot traffic. We have seen many of the savvy retailers accommodate this by establishing online shopping options, which has helping to stop the bleed away from their businesses. Retail businesses report that up to 40% can now be sourced from their online activity & that it can have the additional benefit of driving foot traffic back to their retail stores. So there is already a strong argument for retail rents to be re-assessed in terms of the proportion of gross sales which they now represent. Of course, there are certain retail occupiers who cannot operate online, such as hairdressers and other service providers. However, they can also argue that the local retail environment, be it a shopping mall or retail strip, is creating less foot traffic & hence business opportunity for them, making their retail position less attractive & valuable. If we consider that shopping can be either purposed or for entertainment, it is fair to say that the entertainment or recreational shopping activity is likely to see a steep drop-off, as the fears of contracting the Corona virus grow. The current government directives aimed at helping containment of the spread of the virus are affecting and driving business away from an already stressed retail environment. Hence, another reason why rentals will need to be re-structured to represent a fair proportion of gross turnover. All in all, we have challenging times ahead of us in the retail world. We believe that understanding & realistic property owners will be able to maintain occupancy rates and cash flow, if they listen to their tenants and try to understand their individual predicaments. Gregory May See more

20.01.2022 For Sale: LEASED BAR and RESTAURANT INVESTMENT IN Gordons newest "Eat Street" Situated on the ground floor of a modern retail/ office development Extremely wide frontage with large outdoor seating area.... Adjacent to Gordon Railway Station & multi level shoppers car park. See link for more details

19.01.2022 For Sale: Gordon Eat Street 3/741 Pacific Highway Ground floor shop located in Gordon's new "Eat Street". Features a 7.8 metre frontage.... Ideally positioned in the retail hub of Gordon with dual frontages providing walkway from the Pacific Highway to bus/rail interchange and council car park. See Link for more details.

18.01.2022 For Sale: Gordon Eat Street 3/741 Pacific Highway Ground floor shop located in Gordons new "Eat Street". Features a 7.8 metre frontage.... Ideally positioned in the retail hub of Gordon with dual frontages providing walkway from the Pacific Highway to bus/rail interchange and council car park. See Link for more details.

15.01.2022 The Bentley Driver's Club NSW Region is very proud to have donated $13,000 to the Westmead Children's Hospital last Thursday. These givings were raised from our Christmas in July Auction. Thank you to all members who attended and generously participated in the Auction.

15.01.2022 BUSHFIRES & COVID -19 Positive implications for Australian Business The bushfires are finally out & COVID-19 has arrived to provide further challenges to us. General comment in the press and the Stock Market movements suggests that we are in for a recession. When the bushfires were finally extinguished, at least for the meanwhile, I was firmly of the view that this unfortunate event would fuel a boom to many areas of enterprise & business. So much needs to be restored, re-bui...lt, re-fitted , re-furnished & re-equipped. The mass migration to Australia for the first 25 years following the end of the hostilities of World War 2, created an unprecedented building boom and a demand economy, which provided ready jobs for the new arrivals to our country and opportunity & wealth to Australian business. This self- fuelling economy continued for the 50 years following the end of WW2. This was of course before the advent of globalisation. Starting in the mid 1990s Western economies & business started moving labour intensive manufacturing to China in search of greater profits. Their mantra was that labour is too expensive here, we have responsibilities to our shareholders to maximise profits and that this arrangement benefits us all. To a degree, this was a desertion of their social responsibilities to the very people who consume their products. We made China & certain businesses here wealthy, and China has become our most valued trading partner. The recent building boom of the last decade would have made Australia wealthy, if so many of the imputs which go into building were manufactured here in Australia. In many of the high rise constructions, which have dominated the building boom, the window glass & frames, cladding, bathroom fittings, light fittings, kitchen fittings, electrical fittings are all sourced from China. We missed the chance to enrich ourselves and our economy. Now comes the twist! If supply lines from China are disrupted by the virus for long enough, we may need to re-start local manufacturing on a major scale. We certainly have the capacity to do so, following the progressive closure of five car manufacturing business, Electrolux, Pacific Bands, steel making in Port Kembla etc . We have the people, know-how & facility. Australia is currently dependent on imports for more than 90% of its fuel needs. The crude oil comes from the Middle East and is processed at refineries in South Korea, China and Singapore. It is then shipped to Australia as diesel, aviation fuel and petrol. This would appear to be irresponsible & maybe this needs to be brought back home again. In conclusion, could COVID-19 re-start the Australian economy, as opposed to the recession predictions of the pundits?? Gregory See more

10.01.2022 WHERE IS HIGH STREET RETAIL HEADED IN SYDNEY??? Most of you have observed the vacant shops in your local shopping centres and wondered why is it so? Properties which have always been occupied by the local butcher, greengrocer, fish shop, chemist shop, gift store, clothing shop, etc.. are now occupied by hairdressers, nail shops, 7 eleven , charity stores or cafes.... I believe that the reasons are manifold but mainly due to: 1. Increased motor traffic and parking difficulties have made these unpleasant & unattractive places to frequent. 2. Our shopping habits have changed as we can get most of these things at the supermarket which usually has adjacent parking facilities. 3. There is a decreased value on buying local & supporting our local people with whom we used to have friendly relationships. 4. The rapid development of online shopping due to convenience and pricing. So where to from here? As we have seen in many instances, these shops which often were individually owned have been amalgamated to form development sites for the erection of medium to high rise home unit buildings. On account of their zonings, Councils usually insist on the reinstatement of retail units on the ground levels, which invariably prove still difficult to lease, whilst the home units are readily swallowed up by the market. In other instances, the local areas have evolved into a new niche of service providers such as Eat Streets or boutique shopping. Happy days for the owners of these properties! As it is unlikely that the traffic authorities or local Councils will ever be able to address the traffic issues which in many instances have led to the demise of the traditional high street, I fear that it will disappear in time, as we continue to become an ever increasing herd of mall shoppers. We shall see! By Gregory May

09.01.2022 SHARED WORK ENVIROMENTS ARE NOT THE DISRUPTERS THEY ARE REACTORS! By Gregory May There has been much talk in the Media about the rise of shared work space providers such as WeWork, Wotso, Regus & Servcorp. My view, for what it is worth, is that these groups are reacting to the changes, decisions & whims of business in many instances. Business is itself reacting to the demands for short term profit/outcomes without long term risk/commitment.... This is been driven by the rising costs of employment (which companies are not prepared to shoulder), the directors very short term outlook (often driven by their remuneration packages) & shareholders demands for greater returns ( driven by the very sensitive stock market & its commentators). In other instances, it is the small business person who has been driven to set up their own business because of lack of employment opportunity, or by the demands of contract employment. Big business no longer sees themselves as a career provider or maker, but rather as an immediate term profit maker. Hence the nature of work, career & certainty is evolving for both new graduates and seasoned former employees. Vast tracts of office space are being leased by these facilitators of change. Their future is as uncertain as that of many budding, current and former employees. In times gone by, one worked hard at school to get into university to pave the way for a career or certain employment. This in turn facilitated marriage/partnership/ possibly children and the acquisition of a home which involved commitment to a long term finance facility. This scenario is increasingly no longer possible for many. It will be interesting to see society evolves form here. Lower rates of marriage, home ownership and much later independence from ones family. Indeed, the family will most probably need to be the provider of certainty for future generations, which will be a complete reversal of our post war experience. See more

08.01.2022 For Sale: LEASED BAR and RESTAURANT INVESTMENT IN Gordon's newest "Eat Street" Situated on the ground floor of a modern retail/ office development Extremely wide frontage with large outdoor seating area.... Adjacent to Gordon Railway Station & multi level shoppers car park. See link for more details

08.01.2022 Property sold. Bankstown, 196 Stacey Street High Exposure ground floor commercial... First Time offered High exposure with frontage in excess of 26 metres Includes 50m2 of storage & 11 car spaces. See more

04.01.2022 The Bentley Drivers Club NSW Region is very proud to have donated $13,000 to the Westmead Childrens Hospital last Thursday. These givings were raised from our Christmas in July Auction. Thank you to all members who attended and generously participated in the Auction.