Tough times over for commercial property investment
The Property Council says things are looking up for commercial property, although the need for earthquake strengthening could pose financial challenges for the owners of older buildings.
Precinct Properties owns 16 commercial buildings in Auckland and Wellington, and has just announced its latest results, along with plans to spend millions on seismic-related work.
Chief executive officer Scott Pritchard says property has been through some tough years, but the future's looking bright – particularly in Auckland.
Watch the video for the full interview.