Methven 
Belying the current economic pressures of COVID-19, factory sales to owner-occupiers have remained strong. The number of sales is down approximately 40% but this is due to the low number of properties coming on to the market. Industrial leasing is patchy but there is activity in the more affordable rent ranges under $20,000pa. Retail sales and leasing is understandably at a standstill at present with retail business bearing the brunt of the economic fallout of lockdown legislation. Numerous commercial landlords and tenants are suffering financial hardship at present with many unsure about the economic viability of their businesses. Many businesses are receiving rent relief in accordance with legislation which impacts commercial owners’ cash flow, living income and mortgages. Commercial office space, which was over supplied in the outer east prior to COVID-19, is also at a standstill. Many pressures, let alone the impacts of ‘working from home’ and the resultant technologies in working remotely have impacted dramatically on rent offerings and on capital values of commercial office space.
We are working hand in hand with our commercial owners and tenants to steer a way through the current labyrinth with an eye clearly on the light at the end of the tunnel.
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