The number of commercial and industrial property sales was subdued in 2023, as both vendors and purchasers adopted a cautious approach after a record-breaking couple of years. Uncertainty regarding the level at which interest rates would peak, given the inflationary backdrop, and concerns about a cooling economy, all weighed upon
The talk of the town locally is the recent Colliers sale of two iconic office buildings in the heart of central Napier, Dalton and Vautier Houses, heralding an era of extensive redevelopment in Napier CBD and presenting exciting leasing opportunities within the city. The landmark properties, recognised as the largest
In the last Colliers monthly report of 2022 we provided provide some of our top predictions for the following year and below are the 12 that relate to commercial property on a national scale. These are not our only projections on the large, complex and ever shifting dynamics of the
The July edition of the Colliers monthly property research report reflects the halfway mark for 2022 and presents a timely opportunity for us to provide an update on market conditions across multiple asset classes both of what is being experienced nationally but also some of the local activity that has
What has been proposed? The government proposed to amend the Property Law Act 2007 by inserting a clause into commercial leases, when introducing the Covid-19 Response (Management Measures) Legislation Bill. The proposal notes that when there is an epidemic and the tenant is unable to access all, or part, of
Despite some uncertainty and short-term disruption to market conditions from COVID-19, low interest rates are fueling investment activity, especially for prime properties with strong covenants. The flight to quality and limited stock available to purchase is likely to elevate the level of competition amongst experienced investors driving values higher. Overall
We are now in the recovery mode of COVID-19, having been in full lockdown and then varying levels. At Level 1 we are much closer back to the normal than many other countries across the globe. There is certainly an air of the unknown going forward from an economic recovery,
This year is shaping up to be another stellar 12 months for commercial and industrial property in the Hawke’s Bay. Investor confidence remains high and market activity is strong on the back of an outstanding 2019. Yields are likely to compress further on the back of record lows in 2019.
Commercial and industrial property investors see positive investment conditions over the next 12 months in Napier and Hastings, according to the latest Colliers International commercial property investor confidence survey. A net positive (optimists minus pessimists) 25 percent of respondents expect investment conditions to improve over the next 12 months, which
Now that the debate about the introduction of a comprehensive capital gains tax is out of the way, we expect confidence to build further in the commercial property sector over 2019. Starting with such a strong base to grow from, with over $138 million in commercial property sold in 2018,
