Commercial real estate sales in Europe, Middle East and North Africa set to rise by 30% this year

July 29, 2010 by SpaceBug Leave a Comment

Direct commercial real estate transaction volumes are predicted to increase by 30% in 2010 in Europe, the Middle East and North Africa, according to a new report.

The positive outlook comes on the back of a better than expected first three months of the year which is traditionally a quieter time for the market. But volumes reached €20 billion, a 75% increase on the first quarter of 2009, the report from international real estate consultants Jones Lang LaSalle shows.

Read more here > http://www.propertywire.com/news/africa/commercial-property-outlook-positive-201004194055.html

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Calls increase in New Zealand to follow Oz crackdown on foreign property buyers

July 29, 2010 by SpaceBug Leave a Comment

Australia is cracking down on foreign real estate buyers as they price ordinary people out of the real estate market and now calls for a similar move are being voiced in New Zealand.

Earlier this week prime minister Kevin Rudd confirmed that new rules will be brought in for foreign buyers which will mean they have to sell any property they own if they leave the country as a direct result of concerns that ordinary Australians cannot afford to buy a home.

Read more here> http://www.propertywire.com/news/australasia/-crackdown-on-property-buyers-201004304092.html

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Tips for Creating Wealth in Commercial Real Estate

July 29, 2010 by SpaceBug Leave a Comment

You can advance your profits by investing in commercial real estate. On the other hand, if you’re not heedful, you can go bankrupt. Investors can make costly miscalculations. There are a few tips and hints that will help you avoid these miscalculations. If you know what you are doing, commercial deals are effortless to put together.

You must know Your Market. You can see the rate of development in the area by doing a market analysis. This will also let you know if it is on the downfall. Distressed areas will not better the commercial investor. You might be capable of beating the real estate predicament, but success is less likely with a commercial real estate investment. You can identify whether or not the local job market is being damaged by doing some market research. The job market generally slows down when the market is in predicament. This is a sign for you to look else where for your commercial real estate investment. If the market appears to be on the rise, vacant store fronts might be a good object of significance. Several people favour starting a business in a growing market. Warehouses may not be in demand, however a store front could sell rapidly.

Read more here > http://www.grownups.co.nz/read/money/savings-investment/commercial-real-estate

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Deutsche Bank to Shut Commercial Real Estate Adviser Group

July 28, 2010 by SpaceBug Leave a Comment

Deutsche Bank AG, Germany’s largest lender, is dismantling a group that advises companies on commercial real estate transactions, according to people with knowledge of the matter.

Warren Friend, a managing director who ran the New York- based division, may be leaving the bank, said the people, who declined to be identified because the move hasn’t been announced. The bank is seeking to find positions for affected employees, including Friend, one of the people said.

Read more here > http://www.bloomberg.com/news/2010-07-28/deutsche-bank-said-to-dismantle-commercial-real-estate-group-after-losses.html

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Plenty of Space for New Tenants

July 20, 2010 by SpaceBug Leave a Comment

The family business of Rayden Mitre 10 Mt Wellington is moving from 39 Mt Wellington Highway to a new 10,000sq m Mitre 10 Mega store on Lunn Ave, Mt Wellington, leaving room for a new retailer or a number of brands to occupy its large-format premises.

Retailer and property owner Dennis Yee will open the family’s Lunn Ave Mitre 10 Mega store during October.

As a result, CB Richard Ellis South Auckland, in conjunction with Match Realty, is marketing the soon-to-be vacated 5000sq m Mitre 10 store on Mt Wellington Highway for lease, with large-format tenancies ranging from 1500sq m to 800sq m at the front.

Read more here > http://www.nzherald.co.nz/property/news/article.cfm?c_id=8&objectid=10657567

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Real Estate Agents Dob Each Other In

July 20, 2010 by SpaceBug Leave a Comment

Real estate agents are dobbing in their colleagues for offences including poaching clients and assault after the Government put the heat on the industry to clean up its act.

About two complaints lodged with the Real Estate Agents Authority each week have come from agents, with 13 per cent of total complaints coming from within the industry since the agency opened in November.

Read more here > http://www.stuff.co.nz/business/3934464/Real-estate-agents-dob-each-other-in

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Problems with Explorer 8

July 20, 2010 by SpaceBug Leave a Comment

Some clients have reported they are experiencing problems uploading listings when using Internet Explorer 8.

We are currently looking into this and will update you once we find out what is going on and have it fixed.

We apologise for any inconvenience this may be causing.

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Victoria Park market may be Sold Soon

July 14, 2010 by SpaceBug Leave a Comment

Auckland’s historic Victoria Park Market could soon be sold.

Anthony McCullagh, managing director of PKF Corporate Recovery & Insolvency (Auckland), said he was acting for a party interested in buying the property from interests associated with owner and developer David Henderson.

Read more here > http://www.nzherald.co.nz/property/news/article.cfm?c_id=8&objectid=10658578

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