21 Superb Retail Investment [2009年最輝煌的拍賣]

Saturday July 18 2009

Fierce bidding for centre's shops-- Enormous interest is relective of the flight to qualtiy, writes Colin Taylor

Bayleys reports that all 22 shops put up for auction in the Lincoln North Shopping Centre sold in the most fierce bidding seen since the height of the commercial property market.

The shops on the corner of Lincoln Rd and Universial Drive, Henderson went under the hammer for a total value of $30.164 million.

The shops were offered for sale individually and included a mix of banks, national retail outlets and food premises. Yields ranged from 5.05% to 12.5%, with 15 of the properties selling at yileds of less than 7%. [Sales Summary]

The retail properties were market by James Chan and Cameron Melhuish, of Bayleys Auckland.

Comments by James Chan:

"The enormous interest in the properties is relective of the flight to qualtiy in the current market"

"Many of the buyers came from Bayleys' database of locally based Southeast Asian investors who are particularlly keen on retail property. However, an extensive and high-profile marketing campaign for the auction also generated a lot of additional inquiry and around one-third of the buyers were introduced by other Bayleys sales people and offices"