New portfolio reflects diverse market

3:51 PM Friday April 27, 2018 Colin Taylor

The Waldorf Stadium Apartment Hotel at 40 Beach Rd in the Auckland CBD is one of the properties featured in the new portfolio. Photo / Supplied

The breadth and maturity of New Zealand’s commercial real estate market is reflected in the diverse range of properties listed for sale in the latest Colliers Portfolio publication, says Peter Herdson, national sales manager at Colliers International.

Herdson says the third nationwide portfolio for 2018 contains 31 properties from north Auckland down to south Dunedin.

“Established asset classes are well represented, with 11 industrial, six retail and three office properties among the listings,” he says. “Seven development opportunities are also on offer - some with useful holding income.

“However, what’s striking is the range of specialised assets available, which is a real sign of maturity in New Zealand’s property market. The portfolio includes a childcare centre, a hotel, development sites consented for a retirement home and student accommodation.”

Herdson says many of these specialised asset classes have attracted the attention of global investors.

“These so-called ‘alternative assets’ have been outperforming more established property classes in some markets in Europe and North America with the hottest assets including hotels, student accommodation and retirement developments.”

He cites as an example a 4032sq m development site for sale in Auckland’s CBD at 75 Wakefield and 44 Airedale Sts that has resource consent for a 156-room student apartment tower. Listed by brokers Tony Allsop, Simon Felton and Adam White, it’s for sale by deadline private treaty closing at 4pm on Thursday May 31.

As earlier reported in True Commercial, the portfolio includes the sale of the 156-room Waldorf Stadium Apartment Hotel at 40 Beach Rd; and the syndication by Silverfin Capital Ltd of a Christchurch industrial building in Hornby leased to national tenant Metro Glass. 

Herdson says regional properties are also well-represented in the new Colliers Portfolio.

“Listings outside the main centres include a 12.2ha residential development site in Hamilton, two industrial properties and a service station in Hastings, an industrial development site with two lots in Otaki, and warehouses in Nelson, Palmerston North and New Plymouth.

“With such a diverse range of assets on offer, there’s bound to be a property to suit most investors, owner-occupiers and developers.”

True Commercial - Peter Herdson%2c Colliers International .jpg

Peter Herdson, Colliers International