Investment - Commercial - residential property

[winner69]

Stupid question ....and being lazy

Roughy how much to rebuild a small commercial building in Wellington (per sq metre). Basic 200sqm warehouse concrete/block iron roof two story

Just checking if insurance adequate

Thanks

[fungus pudding]

Stupid question ....and being lazy

Roughy how much to rebuild a small commercial building in Wellington (per sq metre). Basic 200sqm warehouse concrete/block iron roof two story

Just checking if insurance adequate

Thanks

How long is a string of sausages? Facilities will make a big difference. I'm not up to date, certainly not with Wellington. There is a huge variation in concrete prices in the different centres. That's not much help but any builder will give you a rough enough figure, or if you have a pet valuer they have a chart of per meter rates which he might send you for nix. I'd take a stab but for the two storey factor. Surely it's not all concrete block? The other thing to consider is whether you would rebuild in block. These days tilt slab construction is far superior.

P.S. Never apologise for being lazy or any other attribute.

[winner69]

How long is a string of sausages? Facilities will make a big difference. I'm not up to date, certainly not with Wellington. There is a huge variation in concrete prices in the different centres. That's not much help but any builder will give you a rough enough figure, or if you have a pet valuer they have a chart of per meter rates which he might send you for nix. I'd take a stab but for the two storey factor. Surely it's not all concrete block? The other thing to consider is whether you would rebuild in block. These days tilt slab construction is far superior.

P.S. Never apologise for being lazy or any other attribute.

Thanks

I'll get the builder to 'assess'

Come to think about it it is tilt slab with steel beams etc .....and pretty basic interior

[JBmurc]

Well after making muti offers for the PGG commercial properties I ended up getting outbid .....pretty much every decent property I have looked at in recent time has been brought by a Auckland investor ...so have given up on the yield investment at this stage ...

And ended up buying two side by side lake view sections here in central otago 50k under most likely R.V(using neighboring sections) when titles come due early 2017 ....
(10% deposit now) just down the road from our new home ...looking at many options (spec build, sell after title, build new home)

disc- any ST members wanting a nice freehold holiday - retirement home late 2017 ...drop me a PM

[fungus pudding]

Well after making muti offers for the PGG commercial properties I ended up getting outbid .....pretty much every decent property I have looked at in recent time has been brought by a Auckland investor ...so have given up on the yield investment at this stage ...

And ended up buying two side by side lake view sections here in central otago 50k under most likely R.V(using neighboring sections) when titles come due early 2017 ....
(10% deposit now) just down the road from our new home ...looking at many options (spec build, sell after title, build new home)

disc- any ST members wanting a nice freehold holiday - retirement home late 2017 ...drop me a PM

Well done and good luck with the purchase. Pretty hard to go wrong with Central Otago's future. I have been trying to find the post where you quoted price and yield of Wrightson's building in Gore. Be grateful if you could quote the figures again. I'm trying to find yields that Gore properties have sold at. Or even if you know price/income of anything on market at present.

[JBmurc]

the Gore PGG sold at think it was a 7-8% net yield .. in the end I was trying to go for the Tapanui 10-11% net yield ...but not to be ..

yes Central Otago(southern lakes+central) is booming during the peak season our population would surpass Dunedin's (120k) many thousands
of sections coming on stream in the near term ...Hanley farm the latest ...doesn't look like the growth here is slowing down

[fungus pudding]

the Gore PGG sold at think it was a 7-8% net yield .. in the end I was trying to go for the Tapanui 10-11% net yield ...but not to be ..

yes Central Otago(southern lakes+central) is booming during the peak season our population would surpass Dunedin's (120k) many thousands
of sections coming on stream in the near term ...Hanley farm the latest ...doesn't look like the growth here is slowing down

Thanks. Found your post which says Gore sold at 1.3 mill on rent of 123,000 (according to listing). That looks like 9.5%. I found listing still on trademe.

[JBmurc]

Now looking to buy PGG Wrightson Wyndham, Southland ... 10.55% net yeild.. 10yr fixed term lease (25yr total)

over 484sqm of buildings 1960 to 2010 min NBS-67%.... on half arce of main street land ....

[ynot]

Hi JB, Interested in you comments on central otago property. I'm located in BOP so not too familiar with the state of the market down there. Is the market quieter lately or still pumping ?

[JBmurc]

Hi JB, Interested in you comments on central otago property. I'm located in BOP so not too familiar with the state of the market down there. Is the market quieter lately or still pumping ?

Well there is still many new houses getting built and sections selling all at much higher levels ... here in Cromwell region (where we moved from Qutown) just under 2yrs ago we secured a property here 280sqm 208 brick for 550k ....a few weeks ago westpac valued at a 45% higher value.. (as to why I can now BUY the above post PGG building at 4.35% 2yr fixed rates using the free equity)

Pretty much next to nil rental properties in Central Otago usually 1-3 advertised for whole area ...the lakes district Qutown- Wanaka $700pw+ will get you decent enough family rental ... so very tight rental market ...

I just can't see the growth in values continuing even though I see developers are trying http://hpgroup.kiwi/pricing/

when we purchased early 2016 you could have secured many section in the cromwell township for 120-150k 600-700sqm

Alexandra prices have also continued higher but you can still buy at decent levels ...and come across this lifestyle sections at the right price 260k etc better buying in the region next door to the local GOLF Club ...https://www.trademe.co.nz/property/r...2Z9cJ8aU%2fowQ


Queenstown / Wanaka pure madness pricing still but have much more listings at crazy high prices ... I'd hate to know the average debt loads many of the locals are under>>>

....I really don't see a major correction more so flatline and any force sales being soaked up my sideline buyers ...no other place in the country I'd rather live(and as do so many others as to demand Vs supply)