The typical asking rate per listing is in the $50's per square foot per year. The Crafts region is experiencing a a boost in rates. In the last 3 months, the median rate went up $6 per sqft per year. That's a 13% rise in rent.
Compared to the rest of the Gold Coast market, the Crafts submarket has greater rates, and you'll have to negotiate above asking rent to be in this hot submarket.
In the last 90 days, 18 listings have come on the market, which means new listings might be leasing quickly. You'll want to be prepared to make an offer immediately. There aren't many listings below 2,000 square feet on the market, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 820 sqft. Most properties in this area are close to 3 floors. Most buildings in this region were built in 1959 and are Class B.
This area is fairly equally mixed residential and commercial. Education is the dominant industry in this market. Commute by bike is the most popular way to get to work amongst Crafts residents. Commuting around an hour a day is the norm for those who opt to reside in this part of town.