Urbus shuffles its office portfolio
Wednesday 24 November 2004
Listed property company Urbus Properties is offering a city fringe office block for sale and is seeking to lease a large warehouse in the North Harbour industrial estate.
By The LandlordThe company is selling Infinity House, an eight-level building on Khyber Pass, and looking for a tenant for one of the North Shore's biggest warehouse buildings.
The Khyber Pass property has 5339 sq m of net lettable space located on a 2293 sq m site. It is producing rental income of just over $1 million a year.
Infinity House, at 60 Khyber Pass Road, was built in the mid 1980s and was originally the New Zealand head office of Australian agricultural services giant Elders Pastoral.
Read More - Opens in a new window
Commenting is closed
It’s full steam ahead for the Stevenson Group’s $800 million, 361-hectare industrial and residential development in South Auckland – despite the uncertainties of the post-Covid-19 era.
Periods of house price decline are rare and "short-lived", says economist Tony Alexander, amid forecasts of a drop of 10%-15% this year.
The Reserve Bank says the commercial property sector is vulnerable to the Covid-19 crisis. But PMG Funds' chief executive believes that while there’ll be short-term pain, the biggest long-term impact will be structural change.
Mortgage lending fell to its lowest level on record last month as the property market ground to a halt during the Covid-19 lockdown.