- Real estate agents at CBRE blame a fall in Wellington commercial property deals on the earthquakes that shook the capital last November.
For example, CBRE agents had clinched a deal to sell Deloitte House on the Friday before the Monday earthquake which caused damage and closed the building.
Owner Precinct Properties is evaluating whether to fix it and lease it out again, taking advantage of tighter vacancy resulting from closure of several office buildings in the central city.
CBRE’s latest Wellington Viewpoint report reveals $207 million of sales in the $5 million-plus bracket as a result of 11 properties changing hands.
JOHN NICHOLSON. Real estate company CBRE says the November 2016 earthquakes dampened sales of commercial property.
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