News

Bringing you the latest commercial property market news from NZ Herald and TrueCommercial.

  • Sultan of Brunei sells BNZ tower for $57m

    Sultan of Brunei sells BNZ tower for $57m

    The Sultan of Brunei has sold Auckland's 26-level BNZ tower at 125 Queen St for $57 million in this year's biggest New Zealand property deal. The buyer is Special Situations Assets, thought to be registered in Hong Kong and associated with two Kiwis.

    Date Aug 2014

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  • Market in good shape despite interest hikes, seismic risk

    Market in good shape despite interest hikes, seismic risk

    All sectors of the commercial property market are in good shape with three successive hikes in the Official Cash Rate by the Reserve Bank yet to produce any obvious dampening of investor demand or any noticeable impact on yields, says John Church, Bayleys' national director commercial.

    Date Jul 2014

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  • High-yield Parnell investment up for grabs

    High-yield Parnell investment up for grabs

    A six-level office and retail building with 22 tenants extending over two streets on a high-profile Parnell leasehold site is for sale for $4.6 million offering about twice the average yield for the area - and with opportunity to expand.

    Date Jul 2014

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  • Office development will ease shortage

    Office development will ease shortage

    Construction will soon begin on a building at 6 Pacific Rise in Mt Wellington, just off the Southern Motorway, that will offer critically needed office space for lease in the tight city fringe market.

    Date Jul 2014

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  • Fair dinkum building opportunity

    Fair dinkum building opportunity

    Owner wants to retire, so a profitable business that includes a successful shed franchise is on the market.

    Date Jul 2014

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  • Mid-town site with many options

    Mid-town site with many options

    A big block in the central business district of the South Waikato town of Putaruru is for sale, and a proposed district plan will allow for its development. The 14ha property, listed in Bayleys' Total Property portfolio, is in the heart of the region's dairy country and in an area that a South Waikato District Council plan proposes for development of businesses and services.

    Date Jul 2014

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  • Kiwi group joins Americans in building $140m Fiji resort

    Kiwi group joins Americans in building $140m Fiji resort

    Four New Zealand businessmen have joined Americans to develop Vunabaka, a new $140 million Fiji resort, where the first stage of construction is nearly finished.

    Date Jul 2014

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  • Historic house will stand test of time

    Historic house will stand test of time

    A Tauranga landmark commercial building, Rydal House, which was specifically designed and constructed for the Public Trust in 1954, is being offered for sale.

    Date Jul 2014

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  • Augusta opens door to Telecom's home

    Augusta opens door to Telecom's home

    In one of the biggest property syndications in New Zealand, Augusta Funds Management is starting a proportionate ownership scheme centred on Building C in Telecom Place in downtown Auckland.

    Date Jul 2014

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  • Downtown looks to San Fran for cues

    Downtown looks to San Fran for cues

    Precinct Properties, with consent for a 41-level Auckland waterfront tower on its Downtown Shopping Centre site, took a team to San Francisco last month to study a new 62-level waterfront skyscraper rising above an underground railway there.

    Date Jul 2014

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  • Online sales growth cools

    Online sales growth cools

    Bricks still rule over clicks and will for a while, expert tells property conference. Online retail sales growth is slowing and 19 out of every 20 New Zealand purchases are still made in a shop, says an expert who raised questions about digital influence over shopping centres.

    Date Jul 2014

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  • Wool store clipped for makeover

    Wool store clipped for makeover

    Phillimore Properties, one of the few property companies prepared to buy historic or character buildings to refurbish for another century of usage, has purchased the Textile Centre at 1 Kenwyn St, Parnell.

    Date Jul 2014

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  • Old tip site ripe for development

    Old tip site ripe for development

    Developers are expected to compete for the last big undeveloped business zoned site in the Barry's Pt area of Takapuna just over the Auckland Harbour Bridge.

    Date Jul 2014

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  • Find your garden of Eden at Cafe Paradiso

    Find your garden of Eden at Cafe Paradiso

    Cafe Paradiso, one of the Bay of Plenty's most popular hospitality businesses just 10 minutes' drive west of Tauranga on State Highway 2 has been put on the market.

    Date Jul 2014

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  • Wiri Park land ideal for heavy industry tenants

    Wiri Park land ideal for heavy industry tenants

    A Wiri industrial subdivision is being developed in South Auckland to provide leasing solutions particularly suited to companies struggling to find well-positioned premises catering for heavy manufacturing activities or which provide sufficient yard space.

    Date Jul 2014

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  • Prime Wynyard Quarter opportunity

    Prime Wynyard Quarter opportunity

    An entire city block of prime freehold land within the rapidly developing Wynyard Quarter harbour precinct has been placed on the market for sale with concept plans showing that four mixed use buildings of more than 45,000sq m could be built on the site.

    Date Jul 2014

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  • Site well situated for apartments

    Site well situated for apartments

    A building used as a licensed boarding house for up to 32 residents situated on a commercially zoned site in the Newton city fringe precinct of Auckland is being sold by auction with the potential for redevelopment once its lease finally expires.

    Date Jul 2014

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  • Three-in-one Penrose commercial building

    Three-in-one Penrose commercial building

    A high-profile corner site retail showroom, office, and light manufacturing complex in South Auckland, with parking for 15 vehicles, has been placed on the market for sale or lease.

    Date Jul 2014

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  • Agribusiness Report: Rural real estate in demand

    Agribusiness Report: Rural real estate in demand

    Confidence in the future of the New Zealand farming sector is continuing to drive an increase in rural property sales and values despite a cooling in dairy prices over recent months.

    Date Jul 2014

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  • Wairau Valley industrial buy is a rarity

    Wairau Valley industrial buy is a rarity

    A strategically located standalone industrial building in the heart of the North Shore's busy Wairau Valley is being offered for sale as an investment property with a diversified income stream from two tenants and having the potential for a buyer to own and occupy in the future.

    Date Jul 2014

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