NZ Retail property auction result.

[Arbitrage]

There was a lot of positive spin about this sale but in the end only one third of the properties sold. Check out these comments about the state of commercial property investment in NZ : http://www.3news.co.nz/Landlord-wars...ticleID=146329

Many commercial yields are calculated from short term leases, or lease valuations and not long term tenancies. Drive around Auckland or other cities and look how many "For Lease" signs are up. The empty floor space will take years to fill and there must be a lot of nervous commercial landlords out there at the moment with empty properties and paying big mortgages.

[whatsup]

http://www.propbd.co.nz/afa.asp?idWe...5&SID=87064880

try this

Just IMHO be very careful as AMP is building just down the road a very large shoping center that could when totally completed make the Westgate a bit of a second/third/forth grade center as AMP could poach all the name tenants once the leases at Westgate expire, its happened before and could happen again!!!