Portfolio showcases healthy market

2:35 PM Tuesday July 19, 2016 True Commercial

Office space is for lease in The Piano” at 156 Armagh St in central Christchurch.

NAI Harcourts has released its second Key Assets portfolio for 2016, which includes more than 40 commercial properties and businesses for sale and lease.

General Manager Greg Clarke says the portfolio is a snapshot of New Zealand’s healthy commercial property market.

“Continued low interest rates, low inflation, low unemployment and increasing immigration combine to make for a healthy commercial market, but without the hysteria that’s been associated with the residential market, particularly in Auckland.

Key Assets is a ‘shop window’ into not just the NAI Harcourts listings in New Zealand but is also one connection in the NAI Harcourts global network across 6500 brokers in 35 countries.”

As NAI Harcourts’ flagship portfolio, Key Assets features a range of the exciting properties being marketed by NAI all over the country.

Harcourts Queen St High res.jpg

This investment property at 1A/155 Queen St is near the Wyndham Street intersection

Some of the key properties listed, include:

• Office space for lease in the special purpose, multi-tenanted development “The Piano”, at 156 Armagh St, in central

• An investment at 1A/155 Queen St, near the Wyndham Street intersection. The site includes two long-term tenancies offering income security of $583,868 a year plus GST, and a total lettable area of 802sq m.

• Multiple options for lease of retail and warehousing in the heart of Frankton Village on Commerce, Hall, High and Kent streets. Options include several retail sites from 150sq m to 1270sq m, as well as one 3750sq m open format retail space with 93 underground carparks. Also listed are warehousing spaces of between 1700sq m to 5100sq m and a fenced, bare land site of 3642sq m.

• A two-storey commercial space at 1211-1219 Hinemoa St, Rotorua. The has a total floor area of 2290sq m and Grade A Seismic listing, with five unit titles currently home to four short-term tenancies.

• Central Blenheim office and retail space for sale/lease at 16-28 Scott St. The site includes a total floor area of 2632sq m covering seven business and retail partners as well as office space currently drawing rental income of $340,000 from eight tenants and nine carparks.

• Space available for lease in a new two-level 1500sq m building under construction on Victoria St in Wellington CBD, between Manners and Bond streets. Ground-floor rental tenancies available from 32sq m to 149sq m, level-one office space of 355sq m with a 34sq m terrace and a 135sq m cafe tenancy. Signage rights are available; construction is due for completion in early 2017.

• Christchurch’s performing arts precinct. The top floor of the office/studio complex has been designed to meet the needs of commercial office tenants, and includes onsite carparks, access to a shared meeting room and two balconies overlooking the piazza.

Clarke says 2016 is proving to be a great year for NAI Harcourts with settled sales value for the year to the end of June up 25 per cent on the previous year.

“All the signs are those levels of success will keep growing.