Market Information and Analysis

TrueCommerical brings you the latest Market Information and Analysis from the commercial property market.

  • Tauranga hotel’s new owner plans spruce-up

    Tauranga hotel’s new owner plans spruce-up

    A major Wellington-based property investment group has bought Tauranga’s Hotel Armitage and intends to upgrade and enlarge it. The 81-room hotel on the corner of Willow St and Park St had just finished major earthquake strengthening to bring it up to A-grade seismic strength.

    Date Apr 2016

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  • Motorway off-ramp building sells for over $10 million

    Motorway off-ramp building sells for over $10 million

    Ever imagined a functional-looking building on a motorway off-ramp could be as exciting to investors as a Goldie painting, or bottle of Romanee-Conti brandy? If not, maybe you should get out more, because the prosaic structure on Auckland’s Nelson St off-ramp (pictured right) has just changed hands for more than $10 million.

    Date Apr 2016

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  • Industrial space shortage sends firms to search afar

    Industrial space shortage sends firms to search afar

    Lack of Auckland prime space is forcing industrial companies to look further afield to meet their larger footprint space needs, says CBRE’s latest Auckland Industrial Marketview Snapshot. The agency’s research shows that Auckland industrial space available for lease has been continuously decreasing in the last two years with prime industrial vacancy now sitting at a miniscule 0.6 per cent.

    Date Apr 2016

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  • RECENT DEALS for April 2

    RECENT DEALS for April 2

    True Commercial's recent deals for April 2...

    Date Apr 2016

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  • Confidence at highest level for two years

    Confidence at highest level for two years

    The latest Commercial Property Investor Confidence Survey by Colliers International shows that confidence among most of the country’s investors is at its highest level for two years. The survey shows investor sentiment has built on the growth in confidence achieved late last year and is now at a two-year high.

    Date Apr 2016

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  • Fuji Xerox Queenstown moving to The Landing

    Fuji Xerox Queenstown moving to The Landing

    Fuji Xerox New Zealand Limited (FXNZ) is to relocate its Queenstown facility and will open a flagship showroom, sales and service centre at The Landing in the Frankton shopping area at the end of April. The new centre will be located between Queenstown Interiors and Remarkable Physios at The Landing which is close to Queenstown Airport and near the large Remarkables Park retail centre.

    Date Mar 2016

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  • RECENT DEALS for March 26

    RECENT DEALS for March 26

    True Commercial's Recent Deals for March 26...

    Date Mar 2016

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  • Landmark Christchurch building sells

    Landmark Christchurch building sells

    A landmark Christchurch city building, occupied by law firm Saunders & Co and popular nightspots Mexicano’s and The Dirty Land, has been sold for $11 million to a private investor through Jonathan Lyttle of Savills Real Estate. “This sale represents a low 6.97 per cent yield, shows there is plenty of appetite for strongly-tenanted investment properties in good locations,” Lyttle says.

    Date Mar 2016

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  • RECENT DEALS for March 19

    RECENT DEALS for March 19

    True Commercial's recent deals for March 19...

    Date Mar 2016

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  • Bethlehem’s Kmart opening marks end of big project

    Bethlehem’s Kmart opening marks end of big project

    A new Kmart store is due to open its doors soon as part of the $15 million redevelopment of the Bethlehem Town Centre in Tauranga which is nearing completion. The Kmart, which joins Countdown as the centre’s anchor tenant, is scheduled to start trading next Thursday March 24 and will be operate seven days a week from 8am until midnight.

    Date Mar 2016

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  • Sports star buys Mt Wellington centre

    Sports star buys Mt Wellington centre

    An anonymous international sports star has bought a new retail development in the Auckland suburb of Mt Wellington. The retail centre at 200 Mt Wellington Highway is anchored by National Childcare on a 20-year lease with built-in Consumer Price Index rental reviews. The majority of the remaining leases are to well-established national or international retail brands including Tank, Sals Pizza and Zambrero.

    Date Mar 2016

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  • $4.5bn liability could impact commercial leases

    $4.5bn liability could impact commercial leases

    Anyone leasing office space, retail premises or industrial property needs to get to grips with a $4.5 billion liability that could affect their business. That’s the advice from commercial real estate giants CBRE who say that, while IFRS 16 may not have the most exciting name, it is a new international accounting standard demanding attention from many New Zealand businesses.

    Date Mar 2016

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  • RECENT DEALS for March 12

    RECENT DEALS for March 12

    Paul Charman's recent deals for March 12th...

    Date Mar 2016

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  • Rapid fire bids a feature of Bayleys auction

    Rapid fire bids a feature of Bayleys auction

    Further evidence the strong momentum that has been evident in the Auckland commercial and industrial property for the last two years has continued into 2016 was provided by Bayleys first portfolio auction for the year which generated strong bidding across a wide range of properties. Bayleys senior commercial auctioneer Richard Valintine says while there were only 11 properties up for auction, with three vacant premises having sold prior, there was a very big crowd in attendance and multiple bids on most offerings.

    Date Mar 2016

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  • Bayleys’ top tips on Auckland ‘hot spots’

    Bayleys’ top tips on Auckland ‘hot spots’

    The 'hot spots' of Auckland, according to John Church of Bayleys

    Date Mar 2016

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  • Auckland’s North Shore comes of age

    Auckland’s North Shore comes of age

    People may be sitting on a property that’s worth more than they realise. In many cases, they can get more for it than they think they can. David Mayhew The commercial property market on the North Shore has matured, as the lack of greenfields space in key areas forces land values ever higher, commercial property company JLL says.

    Date Mar 2016

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  • Wellington anticipating another capital year

    Wellington anticipating another capital year

    Favourable market conditions that fuelled a very buoyant year for Wellington’s commercial and industrial property sector in 2015 look set to continue this year, says Mark Hourigan, managing director of Bayleys Capital Commercial. Writing in Bayleys latest Greater Wellington magazineHourigan says that last year was the best year that the Wellington commercial and industrial property sector has experienced since the Global Financial Crisis knocked the stuffing out of the market way back in 2008.

    Date Mar 2016

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  • RECENT DEALS for March 5

    RECENT DEALS for March 5

    Paul Charman's recent deals for March 5...

    Date Mar 2016

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  • RECENT DEALS for February 27

    RECENT DEALS for February 27

    Colin Taylor's recent deals, for February 27...

    Date Feb 2016

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  • Christchurch buyers have cash but no properties

    Christchurch buyers have cash but no properties

    Savills Real Estate in Christchurch believes local private investors are sitting on over $100 million in cash which they want to use to buy central Christchurch commercial property priced under $2 million. “Investors making inquiries about several of our recent property offerings have told us they want to add commercial property to their portfolios but they can’t find buildings that meet their requirements,” says Jonathan Lyttle, managing director of Savills’ Christchurch office. “The supply of smaller commercial buildings in central locations, leased to one or two tenants on good lease terms, has become very limited since the earthquakes.”

    Date Feb 2016

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