Harcourts ASB Banks auction results.

Another clean sweep for prime commercial property.  An excellent result especially for the agents. At the risk of being a kill joy, the shortish leases makes you wonder if the ASB plans on moving out of some outlets sooner rather than later.  Also banks are well known for wanting 100% earthquake proofing of their premises which could be expensive in some cases. Having owned a similar bank investment in Hamilton for 10 years as well as advising others who own like premises, I am only too aware how banks behave when they become tenants .

 

Here’s a one page PDF

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