The world is changing, especially for female brokers in the real estate world. A new generation of women is seeking to lead the charge in industrial real estate.
According to The Daily Telegraph, Lillie Cawthorn, a commercial property expert, said that women are a rising force in the world of industrial real estate which for many of them is more tempting because it is more affordable than buying homes. Cawthorn added that they also get better rents and usually serve up returns of 7 to 10 percent, while residential real estate only give somewhere from 2 to 5 percent. At present, Cawthorn manages 30 female-owned industrial properties.
Jessica Gasparovic is one of the women interested in venturing into this kind of property market. She is considering buying a factory or a warehouse in Seven Hills. According to her, one of the biggest challenges so far is how to become more comfortable in the world of industrial real estate. She added that women look at industrial real estate with fear because they have this preconceived notion that it is full of mechanics and a workplace only fit for men. She realized that it is not the actual case and women do have their place in the industry.
One example of industrial property is the 50-square-meter warehouse on Huntley St. in Alexandria which was sold last October for $216,000. Now, it is being leased for $290 per square meter, with an annual return of 7 percent.
Meanwhile, in the report by Stuff, the same thing is happening in the world of commercial real estate. Three women are planning to take on the Wellington's commercial real estate sector. Georgina Young, Michelle Chadwick and Janette Lillas all work for Colliers International. The firm is a United States-based global commercial real estate services organization. With commercial real estate often seen as a typically male-dominated world just like industrial real estate, the trio is looking to prove that gender is not an issue when it comes to providing high quality real estate services.
