PHOTO: SUPPLIED The Exchange property spans eight freehold titles with frontages on 7 to 23 Allen St and 10 to 24 Blair St and was sold recently for $20.25 million.
Commercial property sales in Wellington have more than halved in value in the past 12 months, according to data firm CoreLogic.
The CoreLogic report, Commercial Market Update, Wellington Cityscope, October 2019, says total sales for the 12 months to October 2019 were 74 with a value of $404.8 million.
That compares with the previous 12 months to October 2018 of 89 sales with a value of $870.9m.
The largest sector in the CoreLogic data is commercial buildings, mainly office buildings, totalling $249m of sales in the October 2019 year compared to $579m in the year to October 2018, while retail building sales were just over $11m compared to $44.7m.
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