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What book did you read that in?
building cost up from 900M2 to 1500M2 for commercial, land prices in town ain,t cheap people are not giving it away and as a investor sitting on the sidelines at times like these you will miss out on the best oppertuinity in years but DYOR,
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Thanks for the link it just proves my point about commercial property there is more to chch than a couple of blocks in the centre of town leave that to the dreamers on the council they still need the funding and thats were investors come in and they won't build if there is no return or if the council puts up to many restriction's it will just go into the to hard basket.
Last edited by Kees; 06-02-2012 at 12:57 PM.
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Anybody up with the play at the moment?
Thoughts on the current situation in Christchurch at the moment?
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Hi. been in commercial for 30 years + have just sold my last heavy commercial property in the last month plenty of capital gain but I am thinking this is finished for the time being with new build cost extreme and
tenants not being able to sustain these cost's.
so for now looking outside Chch.
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Yes looked at a couple but a bit far away the returns certainly look healthy.
Last edited by Kees; 08-12-2014 at 09:22 PM.
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Thanks guys. A quick scan on trademe commercial shows there's not a lot of decent stuff available in Dunedin so it's certainly in demand I guess.
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Member
Chch - huge new build costs and rental price will hinder commercial for 5+ years easy. Accountants and lawyers etc will fill upper floors ok, but ground level tenancies are going to be harder to fill (internet, china etc is squeezing traditional retail, and cost of compliance, gst, paye, holiday pay etc mean theres little left for the owner). Having said that, alternative locations forced by EQ events may be significantly cheaper on white collar (addington, rolleston etc ) so the desire to move back to CBD may be seen as unnecessary.
Dunedin - elderly building stock is going to require EQ strengthening in next 15 so anything URM is like owning a timebomb. 70-80's stock with reasonable strength or easy upgrade might be best idea here.
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