November 30 2010
ONE of Wellington’s more prominent hotels, Molly Malones Irish bar and restaurant, on the corner of Courtenay Pl and Taranaki St, is on the market for about $4 million.
November 24 2010
Three freehold hospitality properties have changed hands recently. An undisclosed local investor has bought the freehold of the Holy Grail in Worcester St for $2.1 million. The property was previously owned by CEA Property (in receivership). Philip Cooper, an investment broker with Colliers International in Christchurch, said the Holy Grail represented a good investment opportunity.
The receivership sale of 343 Moorhouse Ave, adjacent to the bustling Countdown and Burger King complex, is a huge and unusual opportunity for prospective purchasers. Colliers International has been appointed by receivers KPMG to sell the high profile property, owned by Australia’s Letton Group. The adjacent supermarket complex was successfully syndicated by Ocean Partners last year. Brokers Dick Thomas and Merv Davies said there was a huge opportunity for prospective buyers to add value by completing the 1760m2 building, which also has 31 car parks.
November 5 2010
New vacancy data for the metropolitan Auckland office markets this month show an encouraging trend. Just as economic decisions such as the setting of the Official Cash Rate have a lag time before they have any effect, so the impact of minimal new suburban office supply since 2008 is at last manifesting itself in reduced vacancy.
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