Cheer as two commercial properties sold in city

Some positive news for Wanganui's commercial real estate sector has come with the successful sale of two central business district properties.

Steve Waters, commercial agent for LJ Hooker Wanganui, said the properties at 59 and 91 Victoria Ave were for sale by tender and had been bought by a local investor.

The two Avenue buildings, between Ridgway St and Guyton St, are currently tenanted by Jean Jones, De La KaJ, Great New Zealand Gifts and Vodafone.

Mr Waters said the properties attracted good interest from both local and out of town buyers during the tender period.

He said the existing tenancies would continue.

"Despite the economic downturn, well-priced properties showing good returns are still in demand," he said.

He said the vendor was happy because the sale achieved the prices hoped for.

"Properties with good tenants and showing good returns are of interest to the market but empty properties are a different story."