PHOTO: RICKY WILSON/STUFFNew Zealand has 39 confirmed cases of coronavirus.
Thousands of Kiwis have investments in commercial properties so what’s the prognosis for the commercial property market in New Zealand from a pandemic.
Well-known investment adviser and author Martin Hawes says many commercial property owners, particularly small property owners, may lose tenants if the coronavirus impacts the economy widely.
“I think this will be a time when yet again quality comes through, quality of the building, quality of the location and especially quality of the tenant.”
Better quality and near new and premium buildings would be better off than ordinary buildings stuck in the back of a secondary suburb somewhere.The best buildings would have top quality tenants bound under good lease terms.
“I suspect the big property trusts will be better off than a lot of small investors,” Hawes said.
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