We are considering an industrial property purchase in Napier. We welcome any help or tips. Thanks.
Suggest you use our NEW KIDS property cycle clock to determine where the Napier market is, eg, a buyers or a sellers market!
Trying to work out the cycle in any city, be it Australia or New Zealand can be difficult and very much subject to personal interpretations. But here are three things I do when I am working industrial acquisitions.
- Drive around Napier industrial area and see how many lease or sale signs(this will indicate vacancy rates).
- Look at…say trademe and define how many industrials are for sale and lease.
- If possible go and meet some of the industrial occupiers, they usually know who is selling or leasing.
From the data collected you should be able to instantly tell if 6:05 o’clock - 12 (A rising market) if their is very little buildings to lease or buy. Or if their is lots available then its probally a 12:01 o’clock - 5.55 o’clock (A falling market)
If you are still not sure seek out a good agent and or a valuer.
Hope that helps.
Thats a big help. Thanks.