Hi all, interested to know comments based on experience is there a best time of year to sell / list commercial property? Thanks in advance.
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Best time of year to sell commercial property
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Thanks Davo, new signed lease 3yrs X 2, tenant pays 100% outgoings, location Hamilton CBD office use, agent approached me said now is ideal time to sell by way of auction.. an agent would always say that? Have owned for >10 yrs,Thought I would ask those in the know.. Cheers
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All sale proceeds will go to my parents (they funded deposit back in 04) they are recently retired & travel full time. So not case of reinvestment or opportunity costs, case of thanks ma & pa
I have own decent property portfolio in Hamilton, Auckland, Rotorua & Tauranga built up over time.
I was seeking experienced investors to share views on market outlook for commercial?
e.g. I've always sold residential in summer when market is more active. Agent said close to 70% of commercial sales in Htown are currently being sold to Akl'ers.
Honestly I'm in two minds, to sell soon or wait a while yet.. CheersLast edited by Grads; 03-07-2016, 04:30 PM.
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Oh right, sounds like you know more about it than me actually!
Yeah I think with houses, there's a definite benefit to selling in the warmer weather. But office space might be less so?
Has it been easy to keep rented over the time you've had it? Or has it been vacant for long periods? That would influence my decision to sell or not.
Yeah hard to pick the top of the cycle...Squadly dinky do!
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cheers Davo, same tenants since day 1, never been vacant.. pretty fortunate in that respect (looked after tenants needs) as commercial being so different to residential for tenancies / vacancy time-frames.
As agent says, I could try an auction & see how it goes, if doesn't meet my reserve can carry on as status quo..
Agent says market is approx 7% net yields, AKL effect some in 6's. I wouldn't sell for 7% net. One for further thought anyway.. Cheers
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I would had thought Hamilton CBD would be a keeper and instead sell your Rotorus one.Profiting from Property, not People
Want free help on taking your portfolio to the next level?
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Cheers for feedback guys! Location is actually city fringe (northern side).. I've decided with this investment its time to go..
Now that agents appraisal has been done, long-term tenant is currently carrying out DD for purchase. Happy to give tenant 1st option + saves on RE fees. Will update on how it pans out..
Keeping Rotorua rentals for while yet (purchased in 04-05) vegas has been flat for best part of 10 years, area is still heating up so will ride this cycle out and reassess in next year or two.
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