PHOTO: PETER MEECHAM/STUFF SkyCity Entertainment Group sold the concession to run its 3200 car parking spaces in Auckland, near the SkyCity casino, for $220m this year.
Commercial property sales have fallen almost 40 per cent in the first half of 2019 to $1.89 billion from just over $3b in the first half of last year, according to real estate firm CBRE.
It said in its Marketview, New Zealand Investment H1 2019, that a pull-back in sales was first noticed in the second half of last year following the strong growth in sales in the first six months of 2018 when they reached just over $3b.
The first half of the year was traditionally weaker so the $1.89b was a good base for a strong annual result, CBRE said.
The number of sales of properties worth more than $5 million was 76 in the 2019 first half, compared to about 115 in the 2018 first half.
READ MORE VIA STUFF