“The four properties had combined annual net rent of $1,359,100. The four leases had 2.5 to 7.5 years to run. The highest rent and longest remaining lease term was for Briscoes and Rebel Sport at $644,920 a year with 7.5 years lease remaining.”
Turley & Co press – Dominion Post.
“The sale is a significant bellwether and major vote of confidence in the Hawke’s Bay economy that is clearly rocking. The Park Mega Centre sale suggests, for the property category, Hawke’s Bay is tracking as well or better now than it was in 2017.”
“The properties, comprising the Clearance Shed, Briscoes/Rebel Sport, PETstock and Noel Leeming, reflected a 6.47 per cent yield for a combined annual net rent roll $1,359,100.”
Hawke’s Bay Today | 17 Sep 18 | Hastings Park Mega Centre retail portfolio sells for $21m
Turley & Co press – NZH.
The published article is also available on the BayBuzz website.
“The digital tide is surging. Rapidly advancing digital technologies will continue to affect how retail, office, and industrial property is used and competitively leveraged.”
“In addition to low interest rates, key drivers of property value since the GFC include new earthquake standards, new trends in workspace design and utilisation, growth of online retail commerce, council re-zoning, growth in food processing, and ‘social’ CBDs.”