Commercial rent estimation in Wellington

[artdeco]

Is there a way to find out how much commercial rent is 'roughly' charged (m2) for different premise use without engaging a valuer? Most commercial sites for lease in trademe just says price by negotiation making it impossible for me to know what people would typically pay for a place, based on m2. Also, I can't find any online database that hold current lease information on existing properties to derive such info. (I wonder how valuers get lease info then...). I am looking at properties in the wellington area.

I am ok with engaging a valuer but would prefer doing at least a sanity check myself before coughing up real cash for a valuer (which can cost like 3k per report) to determine if a commercial property has been rented out according to market value.

[Scouser]

local commercial real estate agents normally know the lease details of several comparable leases - I've used them in the past to get estimates especially as the cost per m2 is reasonably standard by type and quality of property. They can also indicate whether you can charge additionally for the car parks and likely amounts.

[Beano]

Is there a way to find out how much commercial rent is 'roughly' charged (m2) for different premise use without engaging a valuer? Most commercial sites for lease in trademe just says price by negotiation making it impossible for me to know what people would typically pay for a place, based on m2. Also, I can't find any online database that hold current lease information on existing properties to derive such info. (I wonder how valuers get lease info then...). I am looking at properties in the wellington area.

I am ok with engaging a valuer but would prefer doing at least a sanity check myself before coughing up real cash for a valuer (which can cost like 3k per report) to determine if a commercial property has been rented out according to market value.

What are you looking at ?

[artdeco]

looking at 11 gear street in Petone, which is a industrial type warehouse that is currently used for car services.

[Beano]

About $125m2 gross plus $30pw per carpark .

[artdeco]

About $125m2 gross plus $30pw per carpark .

Thanks. How do you know this? From experience?

[Don't believe the Hype]

Thanks. How do you know this? From experience?

You can trust Beano's inputs on this subject. You will struggle to find anyone on here or anywhere else with more experience in this space.

[Davo36]

About $125m2 gross plus $30pw per carpark .

Hi Beano, do you work in gross figures in Wellington?

[Beano]

Hi Beano, do you work in gross figures in Wellington?

Old buildings gross
New buildings net
In wellington mostly gross in industrial and commercial

[Beano]

Thanks. How do you know this? From experience?

Just looked at the property on google and compared to a comparable property i have .
I compared it to my Petone properties
But the best approach is to employ a registered valuer (cost about $1k) or talk to a commercial real estate agent who deals in the Hutt Valley (they are all pretty good and will not charge)

[artdeco]

Just looked at the property on google and compared to a comparable property i have .
I compared it to my Petone properties
But the best approach is to employ a registered valuer (cost about $1k) or talk to a commercial real estate agent who deals in the Hutt Valley (they are all pretty good and will not charge)

Any valuer you can recommend? I used Colliers before to value something in the CBD and it cost me $3k. Anything cheaper would be great

[Beano]

Any valuer you can recommend? I used Colliers before to value something in the CBD and it cost me $3k. Anything cheaper would be great

Try Valuation Consultants
For rental valuations