The Lismore CBD block is still recovering from the 2022 big flood. Different streets are in different states of the flood rebuild.

Keen Street and Magellan Street, you could say, are near normal. However, Molesworth and Woodlark Street still have a long way to go, and are definitely quieter parts of the block.

In some positive news, walking around the CBD block you can see a lot more SOLD stickers on empty shopfront windows, rather than all being FOR SALE.

There are two major players when it comes to Commercial Real Estate: North Coast Commercial and Pidcock's.

Chris Harley from North Coast Commercial told the Lismore App that the Lismore CBD has seen some sale action.

"We're definitely seeing sales transact. The volume picked up in 2024, and 2025 has started fine, too. We've got a few more under contract. 

"Times moved on. Time seems to take care of everything. We've seen previous floods where the same thing has happened. People get a grasp of reality, but not only that, there's obviously the price that these things are transacting for represents pretty good value for the business owner.

"If you've got a strong business, you can go out and buy yourself a property now, in some instances, pre-1991 value." 

As for who makes up the buyers of commercial real estate in the Lismore CBD?

"I'd sum it up as a combination of all of the above. We've got investors coming out of capital cities, obviously local owner-operators. It's definitely a combination of all of them."

Are there more buyers on Molesworth and Woodlark streets?

"I wouldn't say no. I think it's more product-specific, though. If you have a look, it's not just the CBD; we're also seeing transactions in the industrial area in the office sector. You probably don't see them as much because they're above the retail. I know retail is obviously more visual, but we've done another deal recently around in Carrington Street for office use. So, you'll see that sold sign go up in the coming days.

"It's good to see that it's healthy. It's across the board in all sectors." 

South Lismore is in a similar position as the CBD, with prices that would have been accepted twenty or thirty years ago.

"It's probably the same thing. Prices that a guy like me wouldn't think you would hear those numbers. They definitely represent value for the volume and size of the building and structure. When you think of replacement values for these things and what some of them are transacting at, even the investment ones are yields are sort of 8, 9, 10, 11% return on your money, which, if anyone knows anything about investment numbers, that's a pretty good return. Double or triple what you're getting in the bank.

It's not all roses, though, as the vacancy rate in Lismore is still extremely high.

"It is, and, hopefully, we're in a better place now than we were this time last year, and it continues to build."

More SOLD stickers lead to new businesses and a more vibrant CBD, so even the most pessimistic person, will have some positive thoughts about the Lismore CBD.