Current market rental pricing.

[Morph]

Hello,
I have a small (less than 150 square meter) commercial food grade premises in an ok area of West Auckland. The building is modern and bright with natural light, has a high stud and is nicely fitted out for food manufacture with a 6m x 6m carpeted air-cond office up stairs.
The Rent review is due with a year to run on the lease.
The QV in the property at September 07 was $280k.
Any suggestions on the current market rental value would be an interest to me.
Or does anyone know of a web-site that lists current market values? I have a table from PRP Auckland Ltd as at July 08 but wondered if there was another available more recent.
Thanks Cheers.

[Davo36]

Do you not want to get a valuer in? Or speak to the local agents?

Hard to say without seeing it, knowing exactly where it is etc.

Don't know that rental rates for this sort of thing are listed on websites are they?

David

[Morph]

Hi David,
I didn't want to get a valuer involved unless I really have to.
But I have spoken to a number of agents prices are all over the place from $86.00-$107 Mtr squ from one agent at the bottem end to $150.00 - $160.00 Mtr Squ at the other end.
What I have is a market research table from PRP. But PRP are no longer.
Cheers

[Keithw]

you might also want to consider what will make your tenant happy.
These days there is plenty of empty property to choose from so I would be very wary of increasing too much.

take a look at your costs & see if some price in the middle (say $120 ) is manageable to you.
also have a look on Trademe or other property sites & try to compare properties/ rents with yours- after all thats exactly what your tenant will be doing if you put up the rent too much (as far as they are concerned).

Receiving a few $ less than you could be receiving is much better than a couple of weeks empty premises, let alone months of vacancy !!