Where we talk about Commercail Real Estate
September 2, 2011 Leave a Comment
Finally someone has listened to the people of Christchurch and has driven around the Red Zone with a camera on his latter. One must ask why CERA are unable, or unwilling to do this but if you come from overseas you are given an escorted tour.
August 22, 2011 Leave a Comment
A new gauge of the commercial property market shows the sector is softening, earning an across-the-board annual return of 5.9 per cent.
The Property Council of New Zealand/IPD commercial property index has been launched to give investors a measure of performance across the office, retail and industrial property sectors.
It takes data from 14 participants, representing 21 funds or portfolios with a combined asset value of $9.6 billion.
Overall, commercial property returned 5.9 per cent. For the year to June, the return on income was 8.5 per cent and the loss in capital growth 2.4 per cent.
The council said the result was slightly lower compared with the previous quarter (6.1 per cent) and well down against a long-run return rate of 10 per cent.
“The latest results suggest that the commercial property market displays a lack of strength,” said Anthony De Francesco, of IPD Australia and New Zealand.
Source: Businessday.co.nz
August 22, 2011 Leave a Comment
Four units in the Workstation55 business park in the Christchurch suburb of Addington are going to auction next month.
The park was developed by Auckland’s Latitude Group, which still owns most of the complex but has sold off some individual titles.
Read the full article > http://www.stuff.co.nz/the-press/business/your-property/5345879/Business-park-units-up-for-grabs
July 28, 2011 Leave a Comment
Two female real estate agents came to blows over the sale of an apartment in a fight that left both with minor injuries – and a fine.
The catfight erupted in front of onlookers at an inner-Auckland apartment that both agents – Hulan (Wendy) Feng of City Sales and Soon (Fiona) Lee of LJ Hooker Ponsonby – had been trying to sell.
One industry insider said he wasn’t surprised two female agents were involved but another said the behaviour was ridiculous.
A Real Estate Agents Disciplinary Tribunal found both agents guilty of disgraceful conduct and fined them $600 each.
It described what unfolded: “Ms Lee was at 76 Albert St showing a potential buyer around apartment 20F. Ms Feng arrived at the property and words were exchanged to the effect that Ms Feng considered the apartment to have been sold and that Ms Lee should therefore not be showing it.
“A physical confrontation between the defendants ensued. Each of the defendants alleged she was assaulted by the other but it is not necessary for the tribunal to make any findings about that because both defendants through counsel admitted they were engaged as alleged in a physical fight.”
July 5, 2011 Leave a Comment
The attached document is an easy read that answers some of the following questions;
April 28, 2011 Leave a Comment
New Zealand’s largest office space investor sees a stark contrast in our two largest cities, with a shortage of prime space in Wellington as its new Auckland building lies almost empty.
AMP NZ Office Trust, which owns $1.3 billion in prime office space in Wellington and Auckland, reported a 12 per cent rise in distributable profits to $47 million for the nine months to March 31 yesterday.
Chief executive Rob Lang said despite the backdrop of a weak economy, the trust’s occupancy level in the capital was at 98.6 per cent, with demand from businesses for more…….
Read the full article here > http://www.stuff.co.nz/business/industries/3618624/Auckland-offices-vacant-as-capital-feels-the-squeeze
March 19, 2011 Leave a Comment
The real estate company set up by a Vietnamese refugee who arrived in New Zealand as a nine-year-old and became a multi-millionaire has been put into receivership.
Don Ha Real Estate, part of the Ray White Group, was placed in receivership on Thursday. Timothy Davies and David Ruscoe of Grant Thornton were appointed receivers and have taken over all the firm’s properties and assets.
Read the full article here > http://www.stuff.co.nz/business/industries/4787822/Real-estate-company-in-receivership
March 19, 2011 Leave a Comment
The following footage shows you what Christchurch looks like now.
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