Market Information and Analysis

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

  • Retail rent highest in Auckland CBD

    Retail rent highest in Auckland CBD

    Auckland’s central business district is home to the most expensive retail precinct in New Zealand with rents predicted to rise even higher in the city and also nationally this year, according to an in-depth document entitled Australia and New Zealand Research and Forecast Report – Retail for the first half of 2016 just released by Colliers International. “The average net prime rent for Auckland CBD retail space is now $2950 per square metre – driven up by the impact of population increases,” writes the author of the New Zealand section of the report, Chris Dibble, director, research and consulting based in the agency’s Auckland office.

    Date Jun 2016

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  • New Ramada Hotel opens in Queenstown

    New Ramada Hotel opens in Queenstown

    Queenstown’s new four-star Ramada Hotel & Suites has opened in Remarkables Park offering 72-beds of accommodation along with nine retail shops and cafes. “It’s very rewarding to see Queenstown’s first new hotel in many years open here at Remarkables Park – marking an intensive period of activity for us as we deliver the next phase of our development,” said Alastair Porter, Chief Executive of Remarkables Park Limited.

    Date Jun 2016

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  • Auckland can be rated world-best city

    Auckland can be rated world-best city

    Auckland, named this year as the city with the world's third-best quality of life, can make it to the top of the list if it continues the drive to build more precincts like Britomart, the Wynyard quarter and the new $680m Commercial Bay development at the foot of Queen and Albert Sts. John Schellekens, CBRE's national director, structured transactions and advisory services, says more of the fine development work of recent times by Auckland Council and private developers will deliver "better urban development outcomes" - and could be the basis for Auckland to make it to No. 1.

    Date Jun 2016

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  • Harvey Norman to open store in Queenstown

    Harvey Norman to open store in Queenstown

    Retailing giant Harvey Norman has confirmed it will open in Queenstown later this year, as anchor tenant in the former Mitre 10 premises at Remarkables Park Town Centre. Resource and building consent was recently received to redevelop the premises to accommodate a Harvey Norman Computer & Electrical store and three smaller retail units, says Dale Robertson, director of MHP, which manages the building on behalf of a group of investors.

    Date Jun 2016

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  • Locals battle Aucklanders for Hamilton properties

    Locals battle Aucklanders for Hamilton properties

    Local Hamilton commercial investors are “having to battle increasingly with out-of-region purchasers, particularly Aucklanders, for the limited stock available”, states a new Bayleys’ Research report. “Strong investor demand and a chronic shortage of stock are also placing further downward pressure on yields,” says Goran Ujdur, Bayleys’ senior research analyst, writing in the agency’s Hamilton Regional Marketbeat.

    Date Jun 2016

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  • RECENT DEALS for June 13

    RECENT DEALS for June 13

    True Commercial's recent deals for June 13 ...

    Date Jun 2016

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  • Low yields feature of Bayleys auction

    Low yields feature of Bayleys auction

    One of four Huapai retail outlets to sell was the Wine Circle liquor store. The corner site at 589-597 Mt Eden Road, sold for just over $3.6m. A panel beater, the anchor tenant at 394 New North Rd has been in occupation more than 20 years. Continuing strong investor demand for a scarce supply of good quality commercial and industrial property offerings has resulted in 15 properties put up for auction in Bayleys’ second 2016 Total Property portfolio selling for close to $30 million.

    Date Jun 2016

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  • Flagship new restaurant for Auckland’s Chancery Chambers

    Flagship new restaurant for Auckland’s Chancery Chambers

    A well-known Melbourne dining and wine establishment, called Meat Fish Wine, will be soon be opening a restaurant in Chancery Chambers - one of Auckland’s historic buildings “Meat Fish Wine plans to open up in the law society’s building in O’Connell Street by the end of this month,” says Anthony Barton, retail leasing broker for JLL.

    Date Jun 2016

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  • Augusta launches NZME building syndication

    Augusta launches NZME building syndication

    One of New Zealand’s biggest single-building public property syndications has been launched with Augusta Funds Management Ltd offering $70 million worth of capital in a limited partnership that will own a new Auckland CBD office building in which media organisation APN Holdings NZ Limited (NZME) is the anchor tenant. The 11,117 square metre Building A is part of a recently completed two-building integrated commercial and retail complex at 2-4 Graham St which runs off Victoria Street West. The building will be purchased from a related company of the developer Mansons TCLM for $115,818,265.

    Date Jun 2016

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  • Queenstown market runs red hot - but at a price

    Queenstown market runs red hot - but at a price

    Queenstown is experiencing an unprecedented real estate boom supported by significant expansion of the commercial and residential construction sector, says Colliers International’s 2016 Queenstown Property Market Review and Outlook report. “The already red-hot Queenstown property market is approaching historic highs but we expect expansion to continue for the foreseeable future due to strong fundamentals underpinning the current bull market,” says John Scobie, Colliers Queenstown’s valuation director.

    Date Jun 2016

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  • RECENT DEALS for June 1

    RECENT DEALS for June 1

    True Commercial's recent deals for June 1...

    Date Jun 2016

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  • North Shore office vacancy lowest in a decade

    North Shore office vacancy lowest in a decade

    The North Shore’s office sector performed strongly last year with total vacancy rates falling to 6.9 per cent - the lowest level since 2006, says the latest office vacancy survey by Bayleys Research. “The reduction was driven by strong tenant uptake across the area’s two biggest office precincts, Takapuna and Albany,” says Ian Little, Manager Property Research Division for Bayleys.

    Date Jun 2016

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  • Oyster fund offers projected seven per cent to investors

    Oyster fund offers projected seven per cent to investors

    Oyster Group has officially opened its new unlisted property investment, the Oyster Direct Property Fund, announcing projected cash distributions of seven per cent, pre-tax, per annum, paid monthly. For what is being billed as “an affordable minimum investment of $10,000”, the fund offers investors well-diversified exposure to $240 million in quality commercial property throughout New Zealand.

    Date May 2016

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  • Vineyard valley to convenience food alley

    Vineyard valley to convenience food alley

    When Auckland’s northwestern motorway began creeping out towards Henderson in the mid-1950s, winemaker Tony Soljan’s father climbed the radio mast at the end of Lincoln Rd overlooking the motorway to take some photos. “There’s not even a car on Lincoln Rd,” recalls Soljan of the shots from the aerial — which is still there today.

    Date May 2016

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  • Expo to examine the regions’ commercial property market

    Expo to examine the regions’ commercial property market

    Bayleys Real Estate says Auckland commercial and industrial property investors are increasingly looking to regional New Zealand. In response, the company plans to showcase properties from throughout the country at a Regional Commercial Property Expo, to be held in Auckland early next month.

    Date May 2016

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  • Planned rail link putting city fringe on top

    Planned rail link putting city fringe on top

    Commercial property on Auckland’s city fringe is already popular with mid-range investors but the planned City Rail Link (CRL) will really open up areas like Newmarket, Grafton, Mt Eden and Kingsland, predicts Nick Hargreaves, Managing Director of JLL. Hargreaves says there are several forces at play that are making the city fringe suburbs so popular.

    Date May 2016

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  • City fringe  growth drives demand for office space

    City fringe growth drives demand for office space

    A powerful local economy in Auckland’s city fringe areas has spurred business creation and expansion, driving increased demand for office space over the last year, says the 2016 Bayleys Research office vacancy survey. “Along with limited new supply, the increased business impetus has resulted in a reduction in vacancy to their lowest levels since 2009 across these precincts,” Ian Little, Manager Property Research Division for Bayleys.

    Date May 2016

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  • RECENT DEALS for May 14

    RECENT DEALS for May 14

    True Commercial's recent deals for May 14...

    Date May 2016

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  • New high-end office space to break drought

    New high-end office space to break drought

    CBRE Research predicts almost 80,000sq m of high end space will become available in the Auckland CBD over the next 18 months. This will break a veritable drought in quality office space, one which has afflicted the inner city for almost 10 years, the research adds.

    Date May 2016

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  • North Shore industrial space squeeze

    North Shore industrial space squeeze

    Historically low levels of industrial space in the Albany Basin are being squeezed even tighter with the vacancy rate now sitting at just 2.6 per cent, down from 3.3 per cent a year earlier, says Bayleys Research. Matt Mimmack, Bayleys North Shore Commercial’s industrial manager, says businesses looking for space to lease face competition for a dwindling supply of available buildings, not only from other tenants but also from owner-occupiers.

    Date May 2016

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