Back from fishing in 2017

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Commercial property on the North Shore has continued to remain at its lowest stock levels in 20 years(for almost 2 years now) and this fact has resulted in prices and rentals remaining in this reporters eyes above real market rates.

YEILDS 4.6% at best, to what I believe is the average of around 5.5%.

With North Shore Commercial lending rates being good but not that good and property maintenance becoming over regulated and costinga small fortune. Investors in North Shore Property are now sharing the risk.

RENTALS Rental’s needed to catch up but with 50% plus increases is this really sustainable for the Average Business.

Wairau Valley Warehouse around $110pm², Office $190-220pm²

Albany Warehouse around $125pm², Office $240-300pm²

We have received 4 new North Shore industrial property listings in the past 2 weeks and have notice a bit more movement (tenant that is) in the market both up and down with a few getting out altogether. It will be interesting to see how and at what levels they lease.

North Shore Commercial property $500,000 to a Million dollar range are still well sort after even at these yields.

Our North Shore Property Management side of the business has taken a boost with market changes in that sector and looking to be something we want to grow.

Please don’t hesitate to contact me re your North Shore Commercial Property needs.

An honest free appraisal on your North Shore Commercial Property is just a call away.

Elliott Molesworth

North Shore Commercial.

Unit 1 65 Ellice Rd, Glenfield

Elliott 021 2273 000

Des 0274 925 383

elliott@northshorecommercial.co.nz