Def. Retail covers a wide range of properties from a strip of shops to a major shopping centre.
Understandably, Covid has rocked the retail and hospitality scene the hardest, with many investors taking a “wait and see” approach. Banks are looking at retail with a different view – and for many, depending on age and stage, it will not be the right time to purchase. The growth in online shopping (eCommerce) has also shifted demand towards warehouse space (again, the industrial sector takes a win).
Our team are regularly having discussions with investors around timings and whether selling and buying in the same market makes sense right now. Capital gains may be good, but yields are down, so if they were to purchase again their income might be compromised. For others, it’s the perfect time to act quick on the opportunities.
While industrial has been the most popular commercial asset class in NZ for some time, with strong price rises and resultant lower yields, investors are beginning to consider a wider pool of asset sectors to chase yield, and we are always on the lookout for strategic retail opportunities.
Managing retail properties is a strength of Viranda’s, including leasing and fitouts under our project management services.
We recognise that everyone’s situation is unique, but a confidential chat is a great first step. Please call or email us today – we would be delighted to assist.
