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Commercial Sales Record for Invercargill Building

Harcourts Achieves Commercial Sales Record for Top Invercargill Building

Harcourts Invercargill’s sale of the well known Ward Wilson building on Deveron Street last week is believed to be one of the highest prices ever achieved for a commercial property in Invercargill.

Marketed by Harcourts Commercial Sales Consultants David McKillop and Ron Weir, the Ward Wilson building was passed in at auction on Thursday 17 March for $2,375,000, but sold the next day for a negotiated higher price to a Southland buyer.

The 1,872 sqm 3-level architecturally designed building, including 49 carparks, was developed in the late 1980s in the heart of the Central Business District. Ward Wilson Ltd (a leading independent accountancy firm practicing in association with KPMG) hold the head lease and are the main tenants.

Described as a “blue chip investment”, the building provided an attractive investment option for the still buoyant Southland region.

Owner of Harcourts Invercargill, Tony Jenkins, said Southland property of all types continued to enjoy confidence from both local and out of town buyers. He added that for the month of February his Invercargill and Gore teams wrote an average four property sale contracts per day, totally 129 by the end of the month for a record $23.3 million, or just over $800,000 a day.

Mr Jenkins noted that recent trends included a growing number of property investors from Australia viewing property on Harcourts’ website and in some cases buying ‘sight unseen’.

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