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  1. #2971
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    They opening another "shed" in Auckland - Lunn Avenue by Stonefields only 3 1/2 walls up so far , but is to be a whole complex with smaller businesses in the surrounds (not a mall type situation, but other shops on the periphery). I have been told they owned the land (have for a long time) and therefore now the building, but do not know if they then will sell and lease back

  2. #2972
    FEAR n GREED JBmurc's Avatar
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    I see a pretty new Warehouse building up for sale down my way with a 9% yield ... looks a great blue chip commercial property with 2030 lease
    "With a good perspective on history, we can have a better understanding of the past and present, and thus a clear vision of the future." — Carlos Slim Helu

  3. #2973
    ShareTrader Legend Beagle's Avatar
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    Quote Originally Posted by JBmurc View Post
    I see a pretty new Warehouse building up for sale down my way with a 9% yield ... looks a great blue chip commercial property with 2030 lease
    Quite likely to turn into a white elephant in 2030.
    Ecclesiastes 11:2: “Divide your portion to seven, or even to eight, for you do not know what misfortune may occur on the earth.
    Ben Graham - In the short run the market is a voting machine but in the long run the market is a weighing machine

  4. #2974
    FEAR n GREED JBmurc's Avatar
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    Quote Originally Posted by Beagle View Post
    Quite likely to turn into a white elephant in 2030.
    Right as Bulk retail is no longer viable ...? Build costs deflate massively?

    Personal I'd think in 21yrs build costs will be 30%-50% higher in NZD (as NZD devalues as it has done from day 1) warehouse might well exit but doesn't mean it won't be a tenanted property
    "With a good perspective on history, we can have a better understanding of the past and present, and thus a clear vision of the future." — Carlos Slim Helu

  5. #2975
    ShareTrader Legend Beagle's Avatar
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    You might want to check your maths on the length of the lease
    Ecclesiastes 11:2: “Divide your portion to seven, or even to eight, for you do not know what misfortune may occur on the earth.
    Ben Graham - In the short run the market is a voting machine but in the long run the market is a weighing machine

  6. #2976
    FEAR n GREED JBmurc's Avatar
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    Quote Originally Posted by Beagle View Post
    You might want to check your maths on the length of the lease
    Yes true stupid me 11yrs .. still at the asking price Vs replacement cost 85% IEP + 9% net yield prime position in a high growth region
    does look to be a sell down from the Warehouse much like PGG Wrightson was doing last year....(which I purchased one property 10.5% net yield)

    maybe they plan to exit the region once the fixed term lease is up ... still as the only Bulk retailer of size in our region, one would think it wouldn't be hard to fill a replacement would be much higher than the current asking price = $1250per sqm of building on freehold section ...

    If only I had a spare couple of million
    Last edited by JBmurc; 25-04-2019 at 03:48 PM.
    "With a good perspective on history, we can have a better understanding of the past and present, and thus a clear vision of the future." — Carlos Slim Helu

  7. #2977
    Speedy Az winner69's Avatar
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    “ At the top of every bubble, everyone is convinced it's not yet a bubble.”

  8. #2978
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    I spoke with a friend of mine who works within The Warehouse. She has seen staff morale drop to an all time low over the 10 years she has worked for the company. I went to a Hastings store and staff were openly discussing their dissatisfaction over management ( I did not know those people)..... Not a good look for the company.

    The biggest discussion point was the difference between their wages and new recruits who know nothing. I would expect someone who has been loyal to this corporation for over 10 years should receive at least $5 per hour more than a new recruit. Their starting wage (in retail) is high at $19.50 per hour. Soon to be over $20 per hour as minimum wage will be there by 2021.

    Most retail positions I know only pay minimum wage or slightly above, so how do we solve dissatisfaction amongst the staff in the red sheds.

    Not an investor in this share as retail is a fickle game with overseas online stores taking most of the cream.

  9. #2979
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    Quote Originally Posted by winner69 View Post
    Lots of good Troughing hands in this company. Lol

  10. #2980
    Speedy Az winner69's Avatar
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    Quote Originally Posted by couta1 View Post
    Lots of good Troughing hands in this company. Lol
    Even worse ...many are foreigners eh couts
    “ At the top of every bubble, everyone is convinced it's not yet a bubble.”

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