Hastings and Napier Rents and Yields Summary June 2011

8/5/2011

Download the latest Morice research on the Hastings & Napier commercial property markets.

Key findings

  • Market feedback shows ‘better things ahead’ with indications of more listings, more enquiry, and improved interest in the office market. But limited evidence of actual change yet.
  • Large format retail is price sensitive to rental given the extensive supply of space, especially in Hastings.
  • Napier prime retail rents continue to be close to double that of Hastings. National retailers continue to underpin leasing at earlier levels.
  • Investment property yields in both Hastings and Napier are stable and remain at previous levels at 8.2% and 7.7% respectively.





 
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