Tomoana Hastings $41m Industrial Sale

Registered ValuersRegistered Property ConsultantsLINZ Accredited.  Hawke’s Bay-based premium quality valuation and creative property strategy© leading $0.5b acquisitions-disposals NZ-wide since 1998.  Valuation litigation and commercial property specialists.  Development and public land specialists. 

Spectacular Tomoana Hastings industrial sale: $41m yield 6.25% for a multi-title multi-tenancy property investment. For more details including tenancy particulars and WALT contact Turley & Co people.

Team Turley & Co says “the Tomoana sale result is impressive …  It would likely be the largest investment real estate transaction in regional NZ if not the country since the pandemic hit.  Whilst negotiated prior, the deal went ahead and reportedly fully subscribed notwithstanding the current economic shock.

We anticipate strong qualities commercial-industrial investment property will weather the storm well, with value gains for prime property not improbable, given even lower interest rates since the pandemic emerged.  Generally retail property would be an exception for now.  Overall we expect increased differentiation for property qualities and investment attributes.

NZH | HBT | 5 June 20 | Hawke’s Bay’s Tomoana food hub nets $41m in record sale for region




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