Market News

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

  • Auckland office rents within top 50 worldwide

    Auckland office rents within top 50 worldwide

    Prime industrial rents for the city aren’t far behind.

    Date Oct 2018

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  • Wellington site has plans for 22-storey building

    Wellington site has plans for 22-storey building

    In Wellington’s CBD, freehold properties held in three contiguous titles across a total land area of 313sq m are for sale.

    Date Sep 2017

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  • Tauranga CBD site has redevelopment potential

    Tauranga CBD site has redevelopment potential

    A large site, comprising 2019sq m of freehold land occupied by a single-storey building with three commercial tenancies, is for sale in Tauranga’s central business district (CBD).

    Date Aug 2017

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  • Airport Oaks office-warehouse for sale

    Airport Oaks office-warehouse for sale

    A large office-warehouse comprising a 5000sq m development site, plus drive-through truck access, is being offered for sale or lease in Airport Oaks, Mangere.

    Date Aug 2017

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  • Huge commercial growth out West

    Huge commercial growth out West

    Commercial property transactions in West Auckland last year totalled $380.5 million with industrial sales at $198.6m comprising the biggest single commercial sector says new research.

    Date Aug 2017

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  • Dargaville livestock transport company

    Dargaville livestock transport company

    Roydons Mamaranui Transport, formed in 1964 and operated as a family business in Dargaville for the past 53 years, is now for sale.

    Date Aug 2017

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  • Waikato nursery blooms in growth mode

    Waikato nursery blooms in growth mode

    One of New Zealand’s most productive chrysanthemum hothouse nurseries is for sale in the Waikato township of Kerepehi.

    Date Aug 2017

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  • Office market outpaces other sectors

    Office market outpaces other sectors

    New Zealand’s office market is outpacing other commercial property sectors with exceptionally strong sales and record low vacancy rates, Colliers International research shows.

    Date Aug 2017

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  • Modern Hawke’s Bay dairy farm for sale

    Modern Hawke’s Bay dairy farm for sale

    An opportunity to obtain a high-profile dairy farm in Central Hawke’s Bay is being marketed by Colliers International Rural and Agribusiness.

    Date Aug 2017

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  • Grand old Te Aroha lady dates to 1881

    Grand old Te Aroha lady dates to 1881

    The land and buildings housing one of Waikato’s grandest country pubs — featuring a 136-year-old Category 1 listed venue — are now for sale.

    Date Aug 2017

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  • Hamilton building has impressive yield prospect

    Hamilton building has impressive yield prospect

    A substantial site in a prime retail position on Victoria St in Hamilton’s CBD is expected to provide the next owner with an income yield of in excess of 12 per cent.

    Date Aug 2017

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  • Albany units ideal for new investors
  • Queenstown Central pitched at locals and tourists

    Queenstown Central pitched at locals and tourists

    Artisan food outlets, local retailers and national brands have signed on as tenants of a retail development that will serve Queenstown’s fast-growing local market.

    Date Aug 2017

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  • Positive - with cautionary notes

    Positive - with cautionary notes

    Heads of commercial agencies are generally upbeat about 2017 but... Says Colin Taylor

    Date Jan 2017

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  • Waikiki's colossal kiwi tree

    Waikiki's colossal kiwi tree

    The Kiwi planted banyan tree in Hawaii has grown to attract a half-billion (US) dollar development.

    Date Dec 2016

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  • BDO Centre buildings syndication tops $50m

    BDO Centre buildings syndication tops $50m

    NZME is the largest tenant in one of the high profile buildings successfully syndicated.

    Date Dec 2016

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  • Millennium business park to be syndicated

    Millennium business park to be syndicated

    Wholesale investment office syndication is New Zealand’s biggest ever, reports Colin Taylor. The Millennium Centre business park in Greenlane, which has just been purchased unconditionally by Oyster Property Group in New Zealand’s biggest ever single office transaction, is now to be syndicated by the commercial fund and property manager.

    Date Oct 2016

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  • Auckland Transport to lease Vodafone building

    Auckland Transport to lease Vodafone building

    Goodman (NZ) Ltd has announced that Auckland Transport will lease the distinctive Auckland CBD office building on the corner of Fanshawe and Halsey Streets in the Wynyard precinct in which Vodafone is the key tenant. The 14,085sq m building, renamed VXV20 and noted for its sweeping, curved glass facade, is on the opposite corner from the Fonterra Centre and will be extensively refurbished prior to the commencement of the new nine year lease to Auckland Transport in November next year.

    Date Sep 2016

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  • Airport space demand hits ‘extraordinary heights’

    Airport space demand hits ‘extraordinary heights’

    CBRE is marketing several large industrial properties for lease along with large blocks of land for sale around the Auckland Airport area in Mangere where occupier demand remains high. The industrial land on offer is within the Auckland International Business Park at Mangere and comprises two freehold sites of 1..2 and 2.4 hectares while the properties for lease are in The Landing and the Westney Precinct.

    Date Jun 2016

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  • Bidders snap up Fonterra Farm Source stores in hotly contested auctions

    Bidders snap up Fonterra Farm Source stores in hotly contested auctions

    Six Fonterra Farm Source stores sold at auctions around the North Island last week after generating strong bidding competition from investors. The properties, auctioned by Bayleys and jointly marketed with CBRE’s director of agribusiness Jeremy Keating, sold at a total value of $9.9 million, with eight-year lease backs to RD1, a wholly owned subsidiary of Fonterra, from their settlement date, July 23.

    Date Jun 2016

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  • Auckland a ‘new world’ for global property investors

    Auckland a ‘new world’ for global property investors

    Auckland often has an impressive placing as a ‘new world city’ in global rankings of major metropolitan centres that are attractive to real estate investors, says Dr Megan Walters, head of research for JLL’s Asia Pacific Capital Markets business, based in Singapore. Dr Walters is one of 86 presenters invited to speak at Tech Week that comprised 55 events held in Auckland from May 14-22. A Fellow of the Royal Institution of Chartered Surveyors, she has more than 25 years’ experience in real estate.

    Date May 2016

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  • Investors fizzing over Cider offering

    Investors fizzing over Cider offering

    Investors have snapped up a “million dollar opportunity” to own interests in Oyster Group’s Cider building syndication which has closed early, oversubscribed. A total of 50 interests of $1 million each were made available to wholesale investors only, with a projected pre-tax return of 7.5 per cent pa.

    Date May 2016

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  • Pioneer’s airfield comes with high flying dream launch

    Pioneer’s airfield comes with high flying dream launch

    A privately-owned airfield developed by one of New Zealand’s aviation pioneers northwest of Hamilton is a feature property for sale in Bayleys’ latest Total Property magazine. Te Kowhai airfield was established by microlight creator Max Clear in 1967 and was steadily expanded over the years until his death in 2011.

    Date Apr 2016

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  • Christchurch building arises on quake hit site

    Christchurch building arises on quake hit site

    A new retail and office building in Christchurch has replaced an indistinct building that was earthquake damaged and partly demolished. The recently completed building at 203 Papanui Rd was constructed under the project management of JLL Christchurch’s Project and Development Services team.

    Date Apr 2016

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  • New café restaurant for Devonport Wharf

    New café restaurant for Devonport Wharf

    The newly refurbished Northern Pavilion of Devonport Wharf will be home to a new café and restaurant to called Devon on the Wharf. Fit-out works will commence next month and the new “all-round hospitality business” is due to open in July.

    Date Apr 2016

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  • Spec sale latest in big list for Mansons

    Spec sale latest in big list for Mansons

    In the largest single office building transaction undertaken this year, Mansons TCLM has concluded the sale of the latest in a long line of big office properties the firm has developed on a speculative basis. Announced earlier this week was the sale of Building A in an Auckland CBD two-building, complex at 151 Victoria St for $115,818,265.

    Date Apr 2016

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  • Oyster opens its wallet for Cider

    Oyster opens its wallet for Cider

    Commercial fund and property manager, Oyster Group, has announced it has entered into an unconditional agreement to purchase the Cider building on the corner of Williamson Avenue and Pollen Street in Ponsonby. The high profile property is due for completion next month and is a 13,200sq mixed use retail and office development.

    Date Mar 2016

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  • Auckland and Wellington rise in global office rent rankings

    Auckland and Wellington rise in global office rent rankings

    Auckland is 54th and Wellington is 73rd in relation to world prime net office rent rankings according the latest Colliers International Global Office Survey of more than 150 cities. The latest rankings are slightly ahead of June 2015 rankings of 61st and 84th respectively.

    Date Mar 2016

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  • Record investment in New Zealand hotels

    Record investment in New Zealand hotels

    New Zealand is experiencing a record period of hotel investment with major hotels changing hands recently in Auckland and Wellington, says Dean Humphries, national director of Colliers International’s Hotels division. “Eleven major hotels changed hands in New Zealand in the last 12 months with a total value of nearly $350 million,” Humphries says.

    Date Mar 2016

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  • New Oyster fund to make monthly payments

    New Oyster fund to make monthly payments

    Oyster Group is set to launch a new unlisted property investment fund to be called the Oyster Direct Property Fund that will allow participants the chance to invest in a diversified portfolio of commercial properties throughout New Zealand worth $240 million. Mark Schiele, CEO of Oyster, says the new fund is designed to satisfy market demand for a property investment vehicle capable of providing monthly income for investors.

    Date Mar 2016

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  • Bathroom supplier cleans up Highbrook building

    Bathroom supplier cleans up Highbrook building

    A new office and warehouse building still under construction at the Highbrook Business Park in East Tamaki will be occupied by GWA Bathrooms & Kitchens on April 1. The building at 33 Business Parade North will comprise 3065sqm of warehouse area with 400sqm of offices over two levels. A 500sqm canopy will have three electrically operated roller doors opening to a secure drive-through yard of 1330sqm.

    Date Mar 2016

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  • Act now on impending new health and safety laws

    Act now on impending new health and safety laws

    A significant legislative change is to come into full operation on April 4 that will place increased workplace safety responsibilities on building landlords, owners, property and body corporate managers. Stuart Bent, general manager of Bayleys Property Services’ (BPS), says the new laws embodied in New Zealand Health and Safety at Work Act 2015 are based on Australian “model” legislation.

    Date Feb 2016

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  • First food warehouse to achieve five-star green award

    First food warehouse to achieve five-star green award

    A large two-level Mt Wellington precast concrete warehouse and office complex has become the first building of its type in New Zealand to gain a five-star Green Star rating for excellence. Ceres Organics’ building at 82 Carbine Rd was awarded points for innovation under the Green Star rating, including for the stringent carbon foot printing used by Ceres to measure the building’s impact.

    Date Feb 2016

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  • Big car park and retail building for Christchurch

    Big car park and retail building for Christchurch

    Work has begun on the site of new eight-level car parkfor the Christchurch CBD that will cater for 570 vehicles and which is expected to be completed at the end of this year. The building spans Hereford St and High St, opposite the ANZ Centre, and is being built for Tim Glasson who is developing both sites.

    Date Feb 2016

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  • Prediction for another buoyant year ahead

    Prediction for another buoyant year ahead

    The very strong momentum that was evident in the Auckland commercial and industrial property market in late 2015 looks set to continue into 2016, says John Church, national director, commercial for Bayleys. “The performance of the commercial property market is closely aligned to a number of key economic indicators and these are looking good for another buoyant year for Auckland commercial property investors,” Church says in his introduction to Greater Auckland magazine which launches Bayleys’ first commercial and industrial portfolio marketing initiative for the year.

    Date Jan 2016

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  • US Morgan Stanley snaps up CBD trio for $91 million

    US Morgan Stanley snaps up CBD trio for $91 million

    US-based Morgan Stanley Real Estate Investing (MSREI) has purchased three big Auckland CBD office properties for a combined acquisition value of $91,260,000. The properties will be included in MSREI’s US$1.7 billion (NZ$2.6 billion) North Haven Real Estate Fund VIII Global.

    Date Jan 2016

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  • Historic low for Auckland office vacancies

    Historic low for Auckland office vacancies

    Auckland’s CBD office vacancy rate has declined for the third consecutive half year to an historic low of 7.8 per cent, exacerbating already tight market conditions, says Bayleys Research in its latest overview of this market The vacancy is down from 10.6 per cent in January last year and is now at its lowest level since Bayleys Research began its CBD vacancy survey in 2003, says Ian Little, Bayleys national research manager.

    Date Jan 2016

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  • Colliers opens West Auckland commercial office

    Colliers opens West Auckland commercial office

    Colliers International has opened the doors to its new West Auckland commercial office within the NorthWest Shopping Centre in the Westgate Town Centre. “It’s the first and only dedicated commercial property company to be located in West Auckland,” says Deborah Dowling, who heads up the agency’s West Auckland division comprising five other brokers and two support staff.

    Date Jan 2016

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  • Eleven new retirement villages needed every year - report

    Eleven new retirement villages needed every year - report

    At least 11 new retirement villages will need to be built annually to keep up with demand from the rapidly aging population as the number of new village residents could equate to the population of Napier by 2048. Angela Webster, economist and research consultant in the Auckland office of property specialist JLL, has just released the New Zealand Retirement Village Database November 2015 which she worked on with valuer Matt Straka and research director Justin Kean.

    Date Dec 2015

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  • Precinct marshals resources for CBD vision

    Precinct marshals resources for CBD vision

    A $1.4 billion funding strategy is behind NZX-listed Precinct Properties' big Auckland development push, establishing $860 million of credit lines and raising $623 million using a variety of financial instruments. Chief executive Scott Pritchard said $860 million of new five-year bank debt facilities had been confirmed to fund its two prominent Auckland waterfront projects.

    Date Dec 2015

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  • Revealed: Zara to open its first New Zealand store in Auckland's Sylvia Park

    Revealed: Zara to open its first New Zealand store in Auckland's Sylvia Park

    New Zealand's fashion and retail industry is set for a major shake-up next year with international clothing retailer Zara coming to New Zealand. There has been speculation for years that the Spanish clothing and accessories giant would be moving to New Zealand, and Zara has confirmed this morning that it will be opening a store in Sylvia Park in time for Christmas shopping next year.

    Date Dec 2015

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  • A billion dollars in deals in six months

    A billion dollars in deals in six months

    Colliers International’s capital markets team has sold more than a billion dollars in transactions in just six months. “The last time a similar sales volume was achieved was over the entire year of 2012 – when the team transacted $970 million in deals,” says Peter Herdson, national director of capital markets for Colliers.

    Date Dec 2015

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  • Eastern transport projects ‘spike’ property demand

    Eastern transport projects ‘spike’ property demand

    Billion dollar transport upgrades have spiked the demand for commercial properties in Auckland’s eastern suburbs, says Gareth Fraser, director investment sales for Colliers International. Fraser says the completion of the first stage of the $1.2 billion Auckland Manukau Eastern Transport Initiative (AMETI) has already made a noticeable economic impact in the suburbs of St Johns, Glen Innes, Mt Wellington and Stonefields.

    Date Dec 2015

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  • Year ends on high note at Bayleys auction

    Year ends on high note at Bayleys auction

    Bayleys reports a strong finish to its auction programme for 2015 with 23 commercial and industrial properties selling at its final Auckland Total Property portfolio auction for the year at a total value of over $30 million. “There was a big crowd in attendance, which is traditionally the case for our early December Total Property auction, and there was good solid bidding across most offerings,” says John Church, Bayleys national commercial director.

    Date Dec 2015

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  • Inside NZ's tallest tower: restaurants, stunning views ... and Zara and Uniqlo?

    Inside NZ's tallest tower: restaurants, stunning views ... and Zara and Uniqlo?

    Final details and a name for downtown Auckland's biggest new commercial property development have just been unveiled. It's been described as "the most transformational project Auckland CBD has ever seen" by its developer, who is vowing to bring big new global retailers here and enhance the city's shopping.

    Date Dec 2015

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  • The Herald is leaving home

    The Herald is leaving home

    The New Zealand Herald's 152 years in one Auckland CBD block may have set a record in a city where businesses rise and fall and shift premises relentlessly. George Farrant, Auckland Council's central principal heritage adviser, said the length of time the Herald had operated from one block was unusual and perhaps a record.

    Date Dec 2015

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  • Peter Jackson to pump millions into NZ's $134m blockbuster plan

    Peter Jackson to pump millions into NZ's $134m blockbuster plan

    A movie museum, backed by film-makers Sir Peter Jackson and Sir Richard Taylor, will boast a "rare and unusual collection" of movie memorabilia that "can't be seen anyway else in the world", an insider says. The museum will be part of a $134 million joint convention centre and museum to be built on Wellington's waterfront if the council votes to give it the green light this afternoon.

    Date Dec 2015

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  • Market factors favour major mall projects

    Market factors favour major mall projects

    After a long period of hiatus, a substantial amount of new retail mall space is being delivered to the Auckland market says Justin Kean, national director of research and consulting at JLL. “This is coming down the supply pipeline in the form of new integrated retail as well as extensions to already dominant retail malls,” Kean says. “After what has been a seven year lull in supply to Auckland’s retail mall sector, the market will see a huge tranche of retail floor space coming online over the next five years.

    Date Dec 2015

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  • Biggest Christchurch commercial office sale

    Biggest Christchurch commercial office sale

    In the biggest commercial office sale in Christchurch this year, Hamish Doig and Mark Macauley of Colliers International have sold on behalf of Goodman Property Trust, two buildings largely occupied by insurer IAG’s Christchurch offices in Addington. The two buildings fetched $33.2 million, representing a 7.8 per cent yield and were bought by a group of Queenstown investors led by lawyer Ron Mackersy.

    Date Oct 2015

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  • No end in sight for buoyant market

    No end in sight for buoyant market

    In contrast to jittery equity markets, there are no indications the current buoyant commercial and industrial property market is likely to ease off any time soon, says John Church, Bayleys’ national commercial director, in his introduction to Bayleys’ latest Total Property magazine. “Real estate agents are frequently criticised for talking the market up but right now, the market itself is doing all the talking that’s needed – and it is surprising even the most perennially optimistic among us,” Church says.

    Date Sep 2015

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  • JLL sponsoring ocean swimming series

    JLL sponsoring ocean swimming series

    JLL is supporting the sponsorship of the New Zealand Ocean Swim Series 2015-16, a charitable Kiwi organisation that runs a series of open water swimming events across New Zealand. Nick Hargreaves, managing director for JLL New Zealand, says the open water swims motivate thousands of Kiwis to challenge themselves and make positive changes to their health and lifestyles.

    Date Sep 2015

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  • Online shopping transforming commercial property

    Online shopping transforming commercial property

    Retailers are realising they need to establish themselves as destinations, rather than outlets if they are to compete with online shopping which changing the face of the retail and industrial property markets, says John Church, Bayleys national director commercial real estate. As a result, the proliferation of online shopping has led to the birth of a new generation of brick and mortar retail stores, along with a huge increase in demand for bigger warehouses and industrial premises for logistics, freight forwarding and courier services.

    Date Sep 2015

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  • Planning needed to deliver on ‘most liveable city hype’

    Planning needed to deliver on ‘most liveable city hype’

    Council and developers “need to be on the same wavelength and work together in a planned and coordinated manner if Auckland is to have any hope of delivering on the hype of becoming the world’s most liveable city”, says John Church, national director commercial, for Bayleys Real Estate. In Bayleys’ latest Greater Auckland magazine, Church says collaborative partnerships between the public and private sectors are becoming an important part of a new development model to cope with Auckland’s surging growth.

    Date Aug 2015

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  • Dearth of land risks industry loss to Australia

    Dearth of land risks industry loss to Australia

    Auckland’s industrial market has the same problems as the residential market – not enough land, high building costs and lean margins that make development unattractive, says Paddy Callesen, joint managing director of Savills. “Conditions in the industrial market are the tightest they have been for more than a decade and supply is not keeping up with demand,” Callesen says.

    Date Aug 2015

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  • Auckland CBD hits historic office vacancy low

    Auckland CBD hits historic office vacancy low

    An historic low of 8.8 per cent in the overall vacancy rate for the Auckland Central Business District office market was reported for the first half of 2015 in the latest occupancy survey conducted by Bayleys Research. The survey, conducted last month, recorded a fall of 1.8 percentage points from Bayleys Research’s January CBD survey, driven mainly by a large decrease in B-grade vacancies.

    Date Aug 2015

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  • ABC Business Sales dominates awards

    ABC Business Sales dominates awards

    ABC Business Sales (ABC) was named Best Large Broking Agency of the Year for the fourth consecutive year at the recent 2015 Real Estate Institute of New Zealand (REINZ) Awards for Excellence. In addition Andrew Wright won the the 2015 Rising Star award and Anthony Gilbert took home the Business Broker of the Year.

    Date Aug 2015

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  • Land prices drive redevelopment of properties

    Land prices drive redevelopment of properties

    Barfoot & Thompson Commercial is marketing a number of properties that are ripe for redevelopment due to rising land prices in the Auckland city fringe and suburban centres. Commercial broker Cam Paterson says thevalue of Auckland commercial land has been highlighted by the recent sale of a vacant 1272 sq site at 520-536 Karangahape Rd and 2 Gundry St leased for car parking.

    Date Aug 2015

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  • Parnell like a phoenix rises to halcyon days

    Parnell like a phoenix rises to halcyon days

    Parnell is rising as ‘the phoenix’ of Auckland’s city fringe commercial and retail suburbs, says John Church, Bayleys’ national director commercial real estate. “Since it fell from favour with the city’s hip and elite crowd in the early 2000s, Parnell is now re-establishing itself as a sought after commercial precinct,” Church says.

    Date Aug 2015

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  • Bayleys takes top commercial REINZ awards

    Bayleys takes top commercial REINZ awards

    Bayleys was named Best Large Commercial and Industrial Office of the Year and Paul Hain of Bayleys Central Auckland was named Top Commercial and Industrial Salesperson of the Year at the recent 2015 Real Estate Institute of New Zealand Awards for Excellence. It is the fourth and second consecutive years respectively that Bayleys has won those awards. The wins were among 10 podium placings achieved by Bayleys at the awards night which included Mike Houlker of Bayleys Auckland Central being named runner up in the Best Multi-Media Campaign of the Year category.

    Date Aug 2015

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  • Bayleys boosts Make-A-Wish expansion

    Bayleys boosts Make-A-Wish expansion

    Bayleys Real Estate has announced the creation of an elite sponsorship arrangement with Make-A-Wish New Zealand which strives “to make the impossible possible” for children suffering from life threatening conditions by granting their ultimate wishes. Make-A-Wish New Zealand will become Bayley’s principal charity in a planned long term partnership to give more ailing children hope, strength and some happiness.

    Date Jul 2015

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  • Market is ‘marching briskly’

    Market is ‘marching briskly’

    The commercial and industrial property market has continued to march along at a brisk pace in the first half of this year. As the largest commercial agency in the country, Bayleys sales numbers provide a good barometer of how the market is performing.

    Date Jul 2015

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  • Absolutely positively Wellington looks for real

    Absolutely positively Wellington looks for real

    Wellington’s economy and commercial property market looks to be on a sustainable recovery path after seven long years of little growth, says Mark Hourigan, capital commercial managing director for Bayleys. Hourigan says the turnaround in the Wellington commercial and industrial property market was evident in the latter part of last year and has continued on into 2015 - with clear signs of improvement in both sales clearance rates and leasing volumes.

    Date Jul 2015

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  • Changing times put Napier site on market

    Changing times put Napier site on market

    Changing preferences in the way New Zealanders watch movies at home and the growing needs of the children’s fancy dress and dance costume business have resulted in a prominent Napier commercial building placed on the market for sale. “The two tenancies at 1 Gloucester Street reflect vastly different trading times for their respective operators,” says Sam MacDonald from Bayleys Napier, who with colleague Daniel Moffitt, is marketing the building for sale by negotiation with a deadline of August 21.

    Date Jun 2015

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  • City price pressures impacting

    City price pressures impacting

    Auckland’s strong growth is putting pressure on commercial and industrial property prices as well as residential values, says John Church, national director commercial for Bayleys Real Estate, in his introduction to Bayleys’ latest Greater Auckland magazine. Church cites the latest figures from global property research company Investment Property Databank (IPD), which revalues a portfolio of close to $13 billion worth of predominantly higher value New Zealand office, retail and industrial property on a quarterly basis.

    Date Jun 2015

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  • Fletcher HQ sold for $80m

    Fletcher HQ sold for $80m

    New Zealand's biggest listed business, Fletcher Building, has sold its international headquarters to a local "onshore" investor for $80 million. Colliers International announced that the Penrose buildings and 2.2ha site had been sold with a 20-year leaseback to Fletcher.

    Date Jun 2015

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  • Shortage ‘casts shadow’ over city office market

    Shortage ‘casts shadow’ over city office market

    Auckland’s city office shortage caused by a lull in construction due to the global financial crisis is “casting a shadow” over the commercial property market, says Justin Kean, JLL’s director of research and consulting for JLL. Commenting on JLL’s latest Auckland office vacancy survey, Kean says office vacancy has continued to fall hitting yet another new record threshold for vacancy within the central business district.

    Date Jun 2015

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  • New Zealand hotel market is a star performer

    New Zealand hotel market is a star performer

    The New Zealand hotel and tourism market has witnessed unprecedented growth in the first quarter of 2015, with many regions reaching historically high occupancy levels together with surging room rates and corresponding growth in revenue per available room (RevPAR). Underpinning this positive performance has been a continuation of strong inbound visitation numbers reaching a record 2.95 million in the year ending March 2015, a seven per cent increase over the past 12 months.

    Date Jun 2015

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  • Growth in Queenstown market set to continue

    Growth in Queenstown market set to continue

    The Queenstown property market’s growth and expansion is expected to continue for at least the next two to three years, propelled by a range of factors including construction activity and tourism growth, according to a new report from Colliers International. Commenting on this key finding of Colliers’ 2015 Queenstown property market review and outlook report, John Scobie, valuation director at Colliers International’s Queenstown office, says several strong tailwinds are fanning the property market’s sails in the resort town.

    Date Jun 2015

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  • Hammer runs hot at Colliers’ auction

    Hammer runs hot at Colliers’ auction

    Eleven of 12 properties were sold under the hammer at Colliers International’s latest auction with the twelfth property currently under contract and likely to be finalised this week. “A combination of quality tenanted retail units plus five commercial office and warehouse investment properties contributed to the strong clearance rate that generated a sales total of nearly $11.5 million,” says John Bowring, Colliers’ national auction manager.

    Date Jun 2015

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  • Kiwi ‘honest’ yields attract foreign buyers

    Kiwi ‘honest’ yields attract foreign buyers

    While commercial office ‘yield compression’ is happening across the world, it appears New Zealand is more honestly reporting yields than most other countries. Savills has produced a report showing the difference between ‘true’ yields than the more misleading quoted ‘market’ yields which can vary by as much as six per cent.

    Date Jun 2015

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  • Location, cash flow and add value potential attract bids

    Location, cash flow and add value potential attract bids

    A Papakura bulk retail property selling for over $6 million and two suburban retail premises purchased at yields of less than five per cent were features of Bayleys' latest Total Property auction where 13 of 16 properties offered sold for a total of over $22 million. John Church, Bayleys national commercial director, says most of the properties put up for sale were either fully or partially leased. “The high clearance rate reflects the strong level of current demand for well tenanted properties as well as semi-vacant premises in good locations which offer the next owner some cash flow plus the potential to add value by leasing up untenanted space,” Church says.

    Date May 2015

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  • Demand hikes construction in city fringe suburbs

    Demand hikes construction in city fringe suburbs

    Auckland’s city fringe locations like Parnell and Freeman’s Bay are leading the way in new construction projects to meet a strong tenant demand for dwindling office space. “This is one of the tightest periods in relation to leasing options for tenants in the last six years,” says Chris Dibble, associate director of national research for Colliers International. The agency’s latest Auckland metropolitan research shows there is about 1.7 million sq m of office space in the market but there is only 135,000 sq m of vacant office space available for lease. The current 9 per cent city fringe vacancy rate outside the Auckland CBD is the lowest in five years, the research shows.

    Date May 2015

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  • Big changes to earthquake strengthening rules

    Big changes to earthquake strengthening rules

    Major changes to how quickly earthquake-prone buildings will need to be assessed and strengthened have been announced. Building and Housing Minister Dr Nick Smith said the changes would reduce the number of buildings that would require assessment from an estimated 500,000 to 30,000, and bring down the total estimated cost from $1360 million to $777 million.

    Date May 2015

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  • Kiwi Property lifts earnings on lower costs, looks to raise $151.9m

    Kiwi Property lifts earnings on lower costs, looks to raise $151.9m

    Kiwi Property Group, the country's biggest listed property investor, increased annual earnings 4.5 per cent as it benefited from lower costs after bringing management in-house, and is seeking to raise $151.9 million to help fund the expansion of the Sylvia Park retail precinct. Distributable earnings after tax, which strip out movements in the value of its property portfolio, rose to $79.7 million in the 12 months ended March 31, from $76.3 million a year earlier, the Auckland-based company said in a statement.

    Date May 2015

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  • Quake strengthening changes welcomed

    Quake strengthening changes welcomed

    Changes to regulations dealing with the earthquake risk of older New Zealand buildings will provide more certainty for building owners and developers in Rotorua, says Rotorua mayor Steve Chadwick. Announced by Building and Housing minister Nick Smith during the weekend, the changes will see New Zealand categorised into zones according to seismic risk with Rotorua categorised as medium.

    Date May 2015

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  • Auction sees big demand for provincial properties

    Auction sees big demand for provincial properties

    Strong demand for provincial offerings, properties selling at low yields at well over their reserve price and two mainland China investors purchasing Auckland properties were features of Bayleys’ first Total Property North Island portfolio auction for 2015. A total of 26 properties out of 39 offered sold at auctions in Auckland, Hamilton, Rotorua and Wellington at a total value of just under $30 million, with a number of the unsold properties still under negotiation.

    Date May 2015

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  • Airport hub expanding rapidly

    Airport hub expanding rapidly

    Work on the latest phase of Auckland International Airport's fast-expanding commercial hub is well under way, ready for new buildings. Mark Thomson, airport property manager, said earthworks began in November on the 14ha stage three of The Landing Business Park.

    Date Apr 2015

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  • Lack of office space sparks development

    Lack of office space sparks development

    The amount of vacant office space in the Auckland CBD has been shrinking for the past three years as the economy grows, business confidence reaches record highs and supply stays still. The limited amount of available office space in Auckland's CBD reached all-time lows at the beginning of the year. There was around 4000sq m of prime vacant space and 100,000sq m of secondary space.

    Date Apr 2015

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  • New Zealand ‘red hot’ for overseas property investors

    New Zealand ‘red hot’ for overseas property investors

    Interest among overseas investors in New Zealand property is “red hot”, says Andrew Reed, international director of capital markets at Colliers International. Commenting on the agency’s Capital Markets Report, based on a survey of the world’s top commercial and industrial markets, Reed also predicts more Chinese investment in New Zealand commercial property.

    Date Apr 2015

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  • Property president wants ‘holistic’ approach to growth barriers

    Property president wants ‘holistic’ approach to growth barriers

    A “holistic approach” is needed in relation to barriers impacting on New Zealand’s economic development rather than fragmented and vested interest viewpoints, says Peter Mence, newly appointed national president of the Property Council and chief executive of Argosy Property Limited. “What members of the Property Council do as an industry is provide accommodation for businesses that are active in growing the economy,” Mence says.

    Date Apr 2015

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  • Big Upper Hutt institute campus on the market

    Big Upper Hutt institute campus on the market

    The big Central Institute of Technology (CIT) Campus at 51 Somme Road in Heretaunga, Upper Hutt, encompassing 18.29 hectares of freehold land and 28,000 square metres of buildings, is on the market. “Given its size it is anticipated the site lends itself to a mixed use scenario,” says John Persico of JLL Wellington who is selling the property by tenders to be received by Tuesday May 12.

    Date Apr 2015

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  • North Shore industrial vacancy ‘below healthy level’

    North Shore industrial vacancy ‘below healthy level’

    The amount of empty industrial property space on the North Shore is close to an all-time low, with a recent survey conducted by Bayleys Research showing the industrial vacancy rate for Albany sitting at just 2.9 per cent. The survey also encompassed the North Harbour, Rosedale and Mairangi Bay industrial precincts, with North Harbour recording the least amount of empty space at 2.6 per cent - a big drop from the previous year’s figure of 5.4 per cent. Further south in the Wairau Valley, the vacancy level is close to zero.

    Date Apr 2015

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  • Shortage of land puts brakes on car dealers

    Shortage of land puts brakes on car dealers

    Sites for car yards are in demand across Auckland but dealers are driving up against the city’s chronic land shortage while demand for their vehicles continues to accelerate. John Jefferson of real estate agency Savills says the car industry is streets ahead of traditional developers in buying land. “They don’t have to make their purchase stack up as a property deal – they buy the sites to expand their businesses.”

    Date Apr 2015

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  • Wynyard Precinct buys Datacom building

    Wynyard Precinct buys Datacom building

    Goodman (NZ) Limited has announced that Wynyard Precinct Holdings Limited has conditionally agreed to acquire a new office building that is being developed for Datacom in Auckland’s Viaduct Quarter for $86.2 million. Located on the corner of Gaunt St and Daldy St, and adjoining a planned linear park that will link Victoria Park to the Wynyard Quarter, the 16,735 sq m development will be purchased from Fletcher Building on completion in March 2017.

    Date Mar 2015

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  • Southgate swings open for syndication

    Southgate swings open for syndication

    Augusta Funds Management is launching a new syndication following its purchase of Southgate Retail Centre in Takanini for $58.5 million. The scheme will be financed through the offer to subscribers comprising 686 proportionate individual shares of $50,000 to raise $34.3 million and he balance will be made up by an ASB Bank loan.

    Date Mar 2015

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  • Little Lush lands biggest bid at auction

    Little Lush lands biggest bid at auction

    The smallest property for sale at Bayley’s first Greater Auckland auction of the year fetched the highest sale price of $3,230,000. The property was one of many across all sectors of the commercial and industrial market that generated strong bidding competition at the auction with 19 properties selling for in excess of $18.3 million.

    Date Mar 2015

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  • Big hotel chain planning to expand in NZ

    Big hotel chain planning to expand in NZ

    An international hotel group is on the lookout for opportunities in New Zealand as the outlook for the sector remains buoyant. TFE Hotels' group director of marketing, Emma Fraser, said the outlook for the next year remained "healthy and positive" and her group was open-minded about prospects in New Zealand.

    Date Mar 2015

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  • Ponsonby site moving ahead

    Ponsonby site moving ahead

    Construction of Ponsonby's new $220 million Vinegar Lane and Cider Building projects is well under way. A spokeswoman for Countdown supermarkets, which is developing the site, said a drone had been used to photograph work from above.

    Date Mar 2015

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  • 2016 date for start on NDG skyscraper

    2016 date for start on NDG skyscraper

    A spokesman for Chinese developer NDG said plans for the 52-level NDG tower in Auckland's centre were in hand. "Everything is going well and construction will commence according to plan next year," the spokesman said.

    Date Mar 2015

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  • $10m makeover gets under way for Stamford Plaza

    $10m makeover gets under way for Stamford Plaza

    Singaporean management chain Stamford Hotels and Resorts is spending $10 million refurbishing its Auckland property in the hotel's most expensive makeover. Paul Evans, Stamford Plaza Auckland's general manager, said a six-month upgrade saw 120 rooms on the top three floors refurbished. A further 166 rooms are to be refurbished during the next six months.

    Date Mar 2015

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  • Newmarket properties ideal for add value buyers

    Newmarket properties ideal for add value buyers

    Two freehold prime Newmarket commercial properties located 150 metres from the Auckland Domain are being offered for sale individually or together as one parcel and are likely to appeal to investors, owner occupiers and developers. “A Mixed Use zoning, a broad street frontage and being in the Auckland Grammar Zone are features of the properties,” says Cam Paterson of Barfoot & Thompson Commercial who, with colleague David Palmer, is marketing the properties at 9 & 11 Morgan St for sale by tender closing at 4 pm on Thursday, March 25, unless they sell earlier by negotiation.

    Date Mar 2015

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  • Behemoth year breaks buying record

    Behemoth year breaks buying record

    Last year appears to have broken all records in the institutional commercial property market across New Zealand, says property consultancy JLL announcing the results of the agency’s latest research. “It was an absolute behemoth of a year totalling $5.1 billion for institutional transactions - more than doubling the 2013 figure and the largest total when compared with all other property sector volumes in the New Zealand market,” says Nick Hargreaves, managing director of JLL.

    Date Mar 2015

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  • Report indicates continuing positive industrial market

    Report indicates continuing positive industrial market

    Positive signs ahead point to another golden run for the industrial sector, with little signs of a slowdown. Demand is the best it has been in decades and this is an attractive feature for an investment market hungry for good quality investment opportunities. The positive attention the industrial sector is receiving stacks up against a backdrop of strong economic activity. The only foreseeable headwind for further expansion will be access to the type of vacant industrial land that allows development of the premises desired by tenants. In some areas of New Zealand, particularly in pockets of Auckland where the highest proportion of industrial activity is recorded, this resource is becoming scarce.

    Date Mar 2015

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  • JLL Research’s city & suburban office report

    JLL Research’s city & suburban office report

    The following is the content of JLL’s Pulse research report for the Auckland CBD and suburban office market for the first quarter of 2015. Strong occupier demand has resulted in vacancy experiencing a sharp fall and has put upward pressure on rentals. Investor confidence remains strong and has resulted in further compressing in yields.

    Date Mar 2015

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  • Flurry of CBD sales nears $45 million

    Flurry of CBD sales nears $45 million

    A flurry of sales in central Auckland totalling close to $45 million and encompassing both freehold and leasehold properties have been concluded recently by Bayleys Real Estate. Alan Haydock, Bayleys’ Auckland City & Fringe team leader who was involved in many of the sales, says there has been a noticeable pick up in the volume of small to medium sized CBD sales since the latter part of last year.

    Date Feb 2015

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  • New $550m downtown tower for Auckland unveiled; City Rail Link on track

    New $550m downtown tower for Auckland unveiled; City Rail Link on track

    NZX giant listed landlord Precinct Properties has announced details of its $550 million Downtown skyscraper for Auckland's CBD and a deal to pay Auckland Council $27.2 million for part of Queen Elizabeth Square. Scott Pritchard, Precinct chief executive, released the first images of the huge new 36-level glass tower to be built on what is now the Downtown Westfield site between the square, Lower Albert St, Customs St East and Quay St.

    Date Feb 2015

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  • Record industrial year but scarcity looms

    Record industrial year but scarcity looms

    Colliers International’s Auckland industrial team based at Highbrook has recorded its sixth record year in a row completing industrial property transactions to the value of $700 million last year – a 40 per cent increase on 2013. The Colliers industrial division leased nearly a quarter of a million square meters during 2014 and completed 202 deals – including the largest industrial sale of the year: Goodman’s Enterprise Park in Dalgety Drive, Wiri, for $53.23 million.

    Date Feb 2015

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  • Marketing New Zealand properties to Asia and Australia

    Marketing New Zealand properties to Asia and Australia

    Expecting strong offshore interest in New Zealand’s commercial and industrial property to continue this year, Bayleys will be resuming regular visits to major cities throughout South East Asia and to Australia as well as pursuing a number of overseas marketing initiatives. The first of these will be “Investment New Zealand: a Focus on New Zealand as a Property Destination”which will include a portfolio of properties likely to be of particular interest to South East Asian investors.

    Date Feb 2015

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  • Industrial space shortage threatens economy

    Industrial space shortage threatens economy

    A shortage of suitable industrial space throughout Auckland could curb the economy’s growth potential in the coming year, warns Zoltan Moricz, senior director of New Zealand Research for CBRE. Commenting on the results of the agency’s latest industrial vacancy research data, Moricz says companies looking for Auckland industrial space to lease could be struggling to find it after last year saw the most significant decline in vacancy rates in seven years.

    Date Feb 2015

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  • Infrastructure projects help drive capital’s boom

    Infrastructure projects help drive capital’s boom

    The value of building and construction activity in Wellington is expected to grow by 38 per cent from 2012 to 2019, according to a National Construction Pipeline report compiled by the Building Research Association (BRANZ) and Pacifecon (NZ) Ltd. Of particular encouragement to the commercial property sector is the report’s forecast that non-residential Wellington construction activity is expected to surge ahead by 49 per cent in the 2012 – 2019 period, says Mark Hourigan, Wellington commercial and industrial director for Bayleys.

    Date Feb 2015

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  • Big retailers buying stores but smaller outlets told to be cautious

    Big retailers buying stores but smaller outlets told to be cautious

    Large retailers are purchasing their own stores enticed by a hot commercial property market and low interest rates, reports Retail News. However, the article by David Maida quotes Paul Keane, director and executive chairman of RCG Realty, as saying it doesn’t make much sense for smaller and less stable retailers to do the same. Keane says smaller retailers need to make the vital calculation between lease payments versus mortgage payments. They might also miss out on foot traffic if they leave a major shopping centre.

    Date Feb 2015

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  • Crane booms epitomise property boom

    Crane booms epitomise property boom

    Construction cranes on Auckland’s skyline are one of the best indicators of confidence and activity in the commercial property market, says John Church, national director of commercial property, in Bayleys’ latest Greater Auckland portfolio publication. A number of key factors are driving strong growth in Auckland with the buoyant commercial and industrial property market conditions seen in 2014 expected to continue in 2015, says Church,

    Date Feb 2015

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  • Once-cool Parnell on verge of regaining former glory

    Once-cool Parnell on verge of regaining former glory

    The billboard over the railway bridge at the bottom of Parnell Rise features a photograph of Novak Djokovic and reads "Opportunity has no limits". It's an ANZ billboard for the Australian Tennis Open. Equally, it could apply to the inner city suburb of Parnell, which is poised for a new era. "The golden age of the village we knew in the 1980s and 1990s with VBG, the wonderful Metropole has lost its gloss and from about 2000 it's been kind of dull," says real estate agent Graham Wall.

    Date Feb 2015

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  • Singapore interests in $23m deal for hotel

    Singapore interests in $23m deal for hotel

    The $23.3 million sale of an Auckland hotel by one Singaporean business to another was New Zealand's biggest hotel sale lately, says an agent. Dean Humphries of Colliers International said he brokered the deal for Singaporean Hotel Grand Chancellor Group to sell the Hotel Grand Chancellor Auckland Airport to Naumi Hospitality, part of the Hind Group.

    Date Feb 2015

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  • Blues set to build $4m high-tech training HQ

    Blues set to build $4m high-tech training HQ

    The Blues will today officially announce a new $4 million purpose-built training and administrative headquarters at Alexandra Park which the rugby franchise believes will take it to the next level in terms of success. "We aspire to be a world-class organisation both on and off the playing field - and we need appropriate facilities for the team and all of our staff," Blues chairman Tony Carter said. "This is a once-in-a-generation opportunity to reposition the entire Blues organisation towards achieving our long-term goals."

    Date Feb 2015

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  • Eden Office Park sold in big Australian portfolio exchange

    Eden Office Park sold in big Australian portfolio exchange

    Auckland’s Eden Business Office Park, on the corner of Normanby Rd and Enfield St in the Mt Eden city fringe precinct, has been sold as a part of a five property asset portfolio sale by Melbourne based Arena Investment Management to Sydney based Anton Capital for a combined net price of AU$249.3 million (NZ$262,937,000). In addition to Eden Business Park the four properties involved in the portfolio sale were: Victoria Police Centre in Melbourne; Customs House in Fremantle; 1-3 Smail Street, Ultimo and 235 Pyrmont Street, Pyrmont both in Sydney.

    Date Jan 2015

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  • Commercial real estate chiefs upbeat about 2015

    Commercial real estate chiefs upbeat about 2015

    Without exception the heads of New Zealand’s commercial real estate agencies are positive about 2015 predicting the continuation of last year’s outstanding commercial property market boom. John Urlich, commercial manager of Barfoot & Thompson, says “real estate agents, by their very nature are usually beaming optimists”. Looking at the current fundamentals, he thinks agents have every reason to be optimistic about 2015.

    Date Jan 2015

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  • Record quarter for Summerset Group

    Record quarter for Summerset Group

    Wellington-headquartered retirement specialist Summerset Group has announced record sales and cited expansion of its village network as one of the reasons. Julian Cook, chief executive, said the NZX-listed business had beaten all previous records although he warned the good times might not last.

    Date Jan 2015

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  • Auckland's Lynn Mall expansion gets under way

    Auckland's Lynn Mall expansion gets under way

    Work started this week on the $36 million expansion of New Zealand's first shopping mall. Locally owned builder NZ Strong has construction machinery on site in the former carpark of New Lynn's LynnMall Shopping Centre for the initial works phase. NZ Strong director Chris Hunter said this would take about a month.

    Date Jan 2015

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  • Bayleys year ends with a bang

    Bayleys year ends with a bang

    The sale of 28 commercial and industrial properties at auctions across the North Island has capped off one of the strongest years ever for Bayleys Real Estate’s commercial and industrial business. The final Total Property portfolio auctions for 2014 in Auckland, Tauranga, Rotorua and Wellington saw 47 properties put up for sale with a clearance rate of over 60 per cent so far producing sales with a total value of nearly $37 million.

    Date Dec 2014

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  • Around the Block

    Around the Block

    CBRE has welcomed back Matthew Barnes as senior negotiator to its industrial and logistics services agency team, based in CBRE’s South Auckland office. Barnes comes from commercial banking at Westpac where he oversaw many key accounts in the property sector. He previously worked at CBRE in the office services team and will now focus on industrial sales and leasing in the Penrose and Onehunga area.

    Date Dec 2014

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  • LINK opens Northland office

    LINK opens Northland office

    Veteran business broker Michael Osborne is pictured at the opening a new office in Northland for LINK at 3 Otaika Road, Whangerei. Osborne says the office will comprise three full-time brokers, with expertise in hospitality and general business sales.

    Date Dec 2014

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  • CBRE is on top of the world

    CBRE is on top of the world

    CBRE New Zealand has won the title of World’s Best Property Consultancy at the international property awards presented in Dubai. “This award demonstrates the high standards to which Kiwi businesses are performing on the global stage,” says Brent McGregor, CBRE’s senior managing director New Zealand.

    Date Dec 2014

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  • Wallace wins website wheels

    Wallace wins website wheels

    Ben Wallace of Bayleys Real Estate behind the wheel of a Maserati Ghibli car which he will drive for the next six months. Pictured with Wallace are James Berry, general manager of Maserati Auckland and Sarah Dyer of NZME

    Date Dec 2014

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  • Local investors lead landmark buys

    Local investors lead landmark buys

    New Zealand buyers were responsible for three of four recent high profile Auckland CBD sales valued at more than $200 million dollars that have been completed by Colliers International’s corporate and institutional sales team. The three major CBD local purchases were: the sale by Precinct Properties of the SAP Tower at 151 Queen St to Robert Jones Holdings for $97 million; the sale by Shortland Management of the General Building at 29-33 Shortland Street to a private Auckland investor for an undisclosed sum; and the purchase by Mansons TCLM of the 4258 sq m New Zealand Herald site at 46 Albert Street from interests associated with Steve Owen.

    Date Dec 2014

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  • Viaduct $40 million sale spotlights high CBD land prices

    Viaduct $40 million sale spotlights high CBD land prices

    In a landmark transaction for the Auckland commercial property market, Viaduct Harbour Holdings Limited has concluded the sale of an entire city block of nearly one hectare of land bounded by Beaumont St, Gaunt St, Daldy St and Pakenham Street West in the rapidly developing Viaduct Quarter precinct. The 9793 sq m parcel was sold to Goodman Group for $40.1 million and has concept plans for the construction of four mixed use buildings of more than 45,000 sq m on the site.

    Date Nov 2014

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  • Half a billion dollars in sales

    Half a billion dollars in sales

    Ten large commercial properties valued at over half a billion dollars have recently been sold by Bayleys Real Estate. “And there’s more in the pipeline, with a number of other big land transactions close to being concluded,” says Mike Bayley, managing director of Bayleys. The multi-million dollar sales include all four office buildings in the head office complex of Spark New Zealand (formerly Telecom New Zealand) on Victoria St in central Auckland which sold for a total of just under $250 million; and an office and retail building in Takapuna occupied by Auckland Council which fetched $70 million.

    Date Nov 2014

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  • Wanganui AA office sale may set new yield record

    Wanganui AA office sale may set new yield record

    The sale of Wanganui’s newly-built Automobile Association office is believed to have set a new yield record for commercial property in the city. The 195 sq m single storey building on a 367 sq m site at 202 Victoria Ave on the corner with Ingrestre St in the CBD sold for $970,000 at a Bayleys’ auction representing a yield of 6.6 per cent.

    Date Nov 2014

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  • Goodman joins with Singapore for Viaduct development

    Goodman joins with Singapore for Viaduct development

    Singapore's sovereign wealth fund has made its first New Zealand real estate investment, buying a half stake in some of Auckland's newest commercial buildings in the Viaduct Quarter. Goodman Property Trust, the country's largest listed property investor by market capitalisation will retain a 51 per cent stake in the portfolio valued at $313 million, and Singapore's GIC will own the rest.

    Date Nov 2014

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  • Foreigners snapping up commercial properties

    Foreigners snapping up commercial properties

    More than half of $2.6 billion commercial property transacted so far this year in New Zealand, at individual prices above $2 million per sale, has been sold to foreign buyers although some transactions are still subject to Overseas Investment Office approval, says Andrew Reed, newly appointed national director of capital markets at Colliers International. “There is a growing wall of overseas money waiting to be deployed into suitable markets and New Zealand is receiving unprecedented levels of interest from these investors,” says Reed who will work closely in his new role with Colliers’ capital market teams in Australia, Asia and other global markets.

    Date Nov 2014

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  • Education centre rights are apples for teachers

    Education centre rights are apples for teachers

    Five new business territory rights are being offered for sale by Kip McGrath Education Centres in Glenfield Auckland, Timaru, Oamaru, Dunedin North and Dunedin South for an asking price of $20,000 to $35,000 dependent on territory size. “The rights are for three years with a right of renewal for a further three years,” says Neville Choksi of Link Business Broking who is marketing them with colleague Tony Andrew.

    Date Oct 2014

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  • Colliers to open West Auckland office

    Colliers to open West Auckland office

    Colliers International has promoted Deborah Dowling to head a new West Auckland office which could be located within the new Westgate town centre now under construction. Charles Cooper, Auckland managing director for Colliers says the West Auckland business is currently operating out of the main Auckland offices, but it will open in a new western base at a location yet to be determined early next year.

    Date Oct 2014

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  • Encore: Restored theatre's opening night booked for 2018

    Encore: Restored theatre's opening night booked for 2018

    A family-owned company believed to have paid more than $30 million for the St James Theatre in Queen St intends to restore the historic performance venue and use adjacent land to build a 39-level apartment tower and shops. The sale of the theatre complex to Lijun Li and family was revealed yesterday, when media were allowed inside to see the grandiose decor and dimensions of a theatre that has been in mothballs for seven years.

    Date Oct 2014

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  • Auckland CBD rents poised to rise

    Auckland CBD rents poised to rise

    Big rent increases by Auckland city office landlords are forecast in the latest New Zealand CBD Office Report produced by Colliers International. Chris Dibble, national research manager at Colliers says tenant demand and a lack of supply will drive rents up.

    Date Oct 2014

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  • Barfoot portfolio goes national

    Barfoot portfolio goes national

    Barfoot and Thompson Commercial has launched its last Insite portfolio magazine for the year, departing from its traditional Auckland and Northland regional format to include listings from partner companies within the greater New Zealand Realtors network. "This is our largest ever with over 60 pages of commercial property on offer across the entire country," says Barfoot and Thompson commercial manager John Urlich.

    Date Oct 2014

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  • Huge and rare Fiji development landholding for sale.

    Huge and rare Fiji development landholding for sale.

    Following the recent elections in Fiji which have coincided with a boom in the Fijian property market, a huge freehold landing is being offered for sale on Fiji’s second largest island of Vanua Levu. “A large peninsular area plus nearby land around a decommissioned airstrip are on the market,” says Rick Kermode, Auckland based resort specialist for Knight Frank Ltd, who is offering the property for sale by private treaty, closing on October 31 unless it sell beforehand by negotiation.

    Date Oct 2014

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  • Hotel sector springs back to life

    Hotel sector springs back to life

    There are increasing hotel sales and new hotel construction activity, with the industry showing signs of renewed optimism that is expected to continue into 2015, says Dean Humphries, national director of hotels at Colliers International. "The trend has been noted right across the country, based on strong tourism and trading fundamentals creating record occupancy and room rates in many of our major capital cities and tourist destinations," Humphries says.

    Date Oct 2014

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  • Westgate Pak 'n Save opening to be dry affair

    Westgate Pak 'n Save opening to be dry affair

    Work is finishing on the new alcohol-free 5997sq m Pak 'n Save Westgate, one of the biggest buildings to rise in the new $1 billion town centre on Auckland's northwestern edge. Angela Bull, Foodstuffs North Island property development manager, said the store by Mason & Wales Architects would open on November 4, a year after work started.

    Date Sep 2014

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  • Colliers creates rural unit

    Colliers creates rural unit

    Colliers International has partnered with two Canterbury rural real estate experts to create a new business division called Colliers International Rural and Agribusiness. Shane O'Brien will head the new division as Colliers' national director of rural and agribusiness, with director Ruth Hodges, to be based in offices in Christchurch and Ashburton.

    Date Sep 2014

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  • Shops are hot property at Auckland auctions

    Shops are hot property at Auckland auctions

    Stand-alone retail properties have again led the market in sales at Bayleys’ latest Greater Auckland auctions held in the city last week. Within the retail sector, foodservice, convenience, and grocery outlets were in hottest demand – with multiple bids on a range of suburban locations within the Greater Auckland isthmus. John Church, Bayleys’ commercial and industrial director, said the day’s proceedings reflected the classic idiom of commercial property investment.

    Date Sep 2014

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  • A new era for an old favourite

    A new era for an old favourite

    Seventy stalls are available for lease in Auckland's Victoria Park Market, which has undergone a three-year refurbishment programme to return the historic complex to its retailing roots as a centre for local artisans and Bohemian-style stallholders. "Vic Park lost its point of retail difference and some people said it had 'lost its soul'," says Leah La Hood, retail leasing specialist with Bayleys who has been seconded into attracting weekend stallholders back to the market.

    Date Sep 2014

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  • Bell portfolio is investors' cup of tea

    Bell portfolio is investors' cup of tea

    A portfolio of four Bell Tea industrial properties, which included three in Auckland and one in Dunedin, has sold for a total value of $18.65 million. The properties were sold to different purchasers and the largest sale of $10.8 million was achieved for Bell Tea & Coffee Company's main production plant and head office in East Tamaki, Auckland.

    Date Sep 2014

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  • Future-proof premises in slick new hub

    Future-proof premises in slick new hub

    A start has been made on a new six-level "spec" office building for Auckland's Wynyard Quarter, marking the next stage in the redevelopment of land between The Viaduct and Victoria Park. The 8500sq m office building is within a new commercial hub called VXV and is being developed by the ASX-listed Goodman Group in partnership with Fletcher Building.

    Date Sep 2014

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  • Ponsonby hole build begins

    Ponsonby hole build begins

    Construction work has started on what was Auckland's biggest construction hole - the controversial Soho in the heart of Ponsonby, renamed by locals Sohole when it was a gaping chasm. Adrian Walker, Progressive Enterprises' property general manager, released four images showing supermarket, office and apartment buildings which will rise on the site between Williamson Ave, Crummer Rd and Pollen St on what was the DYC Vinegar site.

    Date Sep 2014

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  • Office sector leads commercial property returns

    Office sector leads commercial property returns

    Second quarter property index results, released by the Property Council of New Zealand (PCNZ) and Investment Property Databank (IPD), show a total return of 11.1 per cent for the year ending June 2014. The total return comprised 7.7 per cent income return and 3.1 per cent capital growth with the office sector leading the market with a return of 11.9 per cent.

    Date Sep 2014

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  • Sale of Auckland CBD office towers to ease

    Sale of Auckland CBD office towers to ease

    The number of major Auckland office deals can be expected to slow with investment capital moving in a new direction towards the end of this year, says Brent McGregor, senior managing director of CBRE New Zealand “The ever-tighter investment market in Auckland due to the weight of capital, along with the number of office buildings being converted to residential use, is adding stimulus and viability to commercial development, which is good for future investors,” McGregor says. “It is also shifting investor interest toward development and into other major centres including Wellington, which is already the focus of numerous major marketing campaigns.”

    Date Aug 2014

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  • Much more business land needed to provide jobs

    Much more business land needed to provide jobs

    A significant increase in business land for development is needed so this critically important sector of the economy can expand to provide jobs and support services for Auckland’s growing population, says John Church, national director commercial and industrial, for Bayleys Real Estate. “The greatest demand is for more industrial land,” Church says in Bayleys’ latest Greater Auckland magazine. “Office developments can go upwards and are likely to be adequately catered for in the metropolitan and town centres and CBD zone that will be established under the proposed Auckland Unitary Plan. However, industrial buildings take up much larger chunks of land, not only for the premises themselves but also for the surrounding yard space needed for truck manoeuvring and storage.”

    Date Aug 2014

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  • Auckland Airport's land bank value soars to $2.6b

    Auckland Airport's land bank value soars to $2.6b

    Auckland International Airport's vast Mangere land bank rose in value by $734 million between June 2011 and June 2014. The extensive Auckland waterfront greenfields site, mainly unbuilt, was valued at $1.9 billion but is now assessed as being worth $2.6 billion. That is revealed in the notes to the accounts released with the annual result out yesterday which showed profit from the country's main gateway up 21.3 per cent to $215.9 million on a 6 per cent revenue increase to $475.8 million. Simon Robertson, AIAL's chief financial officer, said the airport owned 1500ha of freehold land and the main driver for the valuation rise was an assessment of the land's worth compared to residential land values.

    Date Aug 2014

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  • Fletcher in $40m HQ makeover

    Fletcher in $40m HQ makeover

    New Zealand's biggest builder is about to start a $40 million makeover at its own global headquarters, after buying its headquarters back from Tauranga's Carrus Corporation. QV records showed Fletcher sold the 1960s building in 2009 for $36 million but had to pay $6.5 million extra to buy it back only five years later for $42.5 million.

    Date Aug 2014

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  • Three more building projects for Goodman

    Three more building projects for Goodman

    Goodman (NZ) Limited, the manager of Goodman Property Trust, has announced that the trust is undertaking three new design build projects that will add 28,430 sq m of industrial space to the trust’s investment portfolio and bring to 15 the number of new developments by the trust since early 2013. The three industrial developments, which have a combined total cost of $44.4 million including land, construction costs and all professional fees, will be funded through the trust’s existing debt facilities and a continuation of its asset disposal programme. John Dakin, chief executive officer of Goodman (NZ) Limited, said two of the new buildings were being constructed for Steel & Tube and the third would be built for Ford.

    Date Aug 2014

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  • Work starts on The Landing at Queenstown

    Work starts on The Landing at Queenstown

    Queenstown construction company Rilean has started work on The Landing development comprising new shops and car parks at Queenstown’s Remarkables Park Shopping Centre. The Landing is the second shopping centre investment by Queenstown based couple Lindsay and Di Williams of Savanna Group, who developed the Terrace Junction complex by the Frankton roundabout. Savanna Group contracted to purchase the 1.2 hectare site off the Porter brothers’ Shotover Park company in 2011 and are now proceeding with the 3200 sq m building.

    Date Aug 2014

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  • Ramada Hotel to complement Queenstown convention centre

    Ramada Hotel to complement Queenstown convention centre

    Auckland-based development company Safari Group has applied for resource consent to build a 48-room, six apartment, Ramada Hotel at Remarkables Park adjacent to Queenstown’s planned convention centre. The application lodged with the Queenstown Lakes District Council says construction is planned to start on the $25 million project before Christmas this year. As part of the continued economic development of the Frankton area, the four-level 5000 sq m hotel is to be built adjacent to the Remarkables Park Town Centre, making it Queenstown’s first ‘airport hotel’.

    Date Aug 2014

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  • Millbrook Resort buys land for double golf courses

    Millbrook Resort buys land for double golf courses

    Queenstown’s well-known Millbrook Resort has conditionally purchased 66 hectares of land adjacent to the five-star resort which could significantly expand the property and see it upgraded into a full two golf course layout. Millbrook currently comprises 27 golf holes with only one full 18-hole course available at any time using a mixture of the three nines – the Arrow Nine, Remarkables Nine and newer Coronet Nine. “This has maintenance benefits but limits golfing capacity to just a single course shared between members and guests, which can be an issue at peak times,” says Brian Spicer, Millbrook’s CFO. “In peak times we experience capacity issues regularly and so moving to a two-course layout would not only ease the pressure but also enable us to offer New Zealand’s only two course resort complex and double our capacity.”

    Date Aug 2014

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  • Govt hints at early start to City Rail Link

    Govt hints at early start to City Rail Link

    The Government is looking at an early start on the $2.4 billion City Rail Link - but only for a short section of the route to go with the redevelopment of the Downtown Shopping Centre. The underground rail link starts at Britomart and goes under Lower Queen St and the shopping centre before turning up Albert St bound for Mt Eden.

    Date Aug 2014

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  • Property Council backs proposed Wellington convention centre

    Property Council backs proposed Wellington convention centre

    Property Council Wellington today (Tuesday August 19) issued a statement saying it strongly supports a proposed purpose-built convention centre and five-star Hilton Hotel for Wellington on a vacant site opposite the Museum of New Zealand, Te Papa.

    Date Aug 2014

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  • Infrastructure report: A billion-dollar business

    Infrastructure report: A billion-dollar business

    Hawkins Group CEO Geoff Hunt expects to see revenues of around $700 million this year and says the figure should hit $1 billion within three years. That's on the back of a market rich with opportunity, with $1.7 billion worth of construction projects in Auckland and Christchurch out for bids between now and year end.

    Date Aug 2014

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  • Iwi arm pays well over CV for block

    Iwi arm pays well over CV for block

    Ngati Whatua Orakei Whai Rawa has paid slightly under $70 million for a new Auckland office block with a council valuation of $35.5 million and new entrant Richlister Brett Russell appears to be the benefactor. In the biggest single commercial deal by the Auckland iwi, Russell's Harbour 5 sold the eight-level 5-star green rated AECOM House at 8 Mahuhu Cres to Ngati Whatua's commercial arm for a sum thought to be close to $70 million, making that one of this year's biggest deals. Yet the property's capital value is listed on Auckland Council's web site as $35.5 million and dated to July 1, 2011.

    Date Aug 2014

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  • Stylish stairs inspired by depot building

    Stylish stairs inspired by depot building

    A stylish new staircase was installed this month on the City Works Depot office and retail site off Nelson St in Auckland's CBD. Nat Cheshire of Cheshire Architects, which designed the big steel stairs, said the two flights each had 15 steps but the whole piece was so large that its 108 rods would span 1.4km if they were laid end to end.

    Date Aug 2014

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  • Office building refit puts art up for sale

    Office building refit puts art up for sale

    Two out of seven floors of Fletcher House in Penrose have been refitted in open-plan style, partly prompting the sale of 55 works of art in New Zealand's most significant art collection. Art to be auctioned at the International Art Centre on September 10 include works by Gretchen Albrecht, Patricia France, Milan Mrkusich, Pat Hanly, Rhona Haszard, Ralph Hotere, John Kinder, Raymond McIntyre, Richard Killeen, Evelyn Page, Geoff Thornley, Alfred Sharpe, Michael Smither, Ian Scott, Gordon Walters and Sir Toss Woollaston.

    Date Aug 2014

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  • German fund buys office tower as foreigners look beyond farms

    German fund buys office tower as foreigners look beyond farms

    Another prized Auckland office tower has changed hands, confirming that foreign investor fervour for New Zealand extends well beyond the farm. The $146 million sale of the Lumley Centre in Shortland St to German investment fund Deja Imobilien is the country's biggest commercial office sale in six years. Earlier this week, the Herald reported the $65.5 million sale of three towers in Fort St and Shortland St to a Hong Kong-based buyer.

    Date Aug 2014

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  • Landmark tower sold in global bidding war

    Landmark tower sold in global bidding war

    In New Zealand's biggest commercial office transaction for the past six years, Deka Immobilien, a German investment fund, has purchased Auckland's landmark Lumley Centre on Shortland St for $146 million. The sale on behalf of Australian based Dexus Property Group followed a competitive bidding process run by real estate agencies Knight Frank and JLL and reflected a net initial yield of 7.08 per cent on the purchase price.

    Date Aug 2014

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  • East Auckland hub hits the market

    East Auckland hub hits the market

    One of Auckland's longest established shopping centres, the Pakuranga Plaza, is up for sale offering a new owner a substantial cash flow from close to 100 tenants as well as significant development potential from a probable future zoning change. Located on a high profile site of just under four hectares on the corner of Pakuranga Rd and Ti Rakau Drive in East Auckland, Pakuranga Plaza comprises a mixture of retail and office space with a gross lettable area of 29,541sq m that has the potential to generate net annual income of about $8.3 million. The retail component of the Plaza is anchored by Farmers, The Warehouse and Countdown.

    Date Aug 2014

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  • House prices picked to keep rising

    House prices picked to keep rising

    Rising interest rates have yet to dent people's expectations that house prices will continue to rise over the year ahead, especially in Auckland and Canterbury. ASB's quarterly survey of housing market sentiment found a net 49 per cent expected house prices to rise over the next 12 months, virtually unchanged from 48 and 47 per cent in the previous two quarters and historically high by the standards of the 18-year-old survey.

    Date Aug 2014

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  • SkyCity full-year result gets tick

    SkyCity full-year result gets tick

    Analysts appear to be satisfied with SkyCity Entertainment Group's performance, despite a drop in annual profit. Nigel Morrison, SkyCity chief executive and managing director, announced net after-tax profit fell from last year's $136.3 million to $123.2 million in the year to June 30, which

    Date Aug 2014

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  • Auckland Council execs work with stunning views

    Auckland Council execs work with stunning views

    More and more Auckland Council executives and staff are moving into central city offices with million dollar harbour views.

    Date Aug 2014

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  • Hong Kong buyers pay $65.5m for three office towers

    Hong Kong buyers pay $65.5m for three office towers

    A wealthy Hong Kong family have bought three office towers in Auckland's CBD for $65.5 million in one of the biggest property deals of the year. The sale involves two buildings on Fort St, including the 13-level Walker Wayland Centre, and the Shortland Chambers building at 70 Shortland St owned by the Shortland Street Trust.

    Date Aug 2014

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  • Zoning change widens appeal

    Zoning change widens appeal

    Following an April zone change that widens its commercial application, a large and strategically placed parcel of land on the main highway gateway to Hobsonville Point is up for sale for the first time in 20 years.

    Date Aug 2014

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  • Premier city office space snapped up

    Premier city office space snapped up

    The proportion of Auckland city's premium or A-grade office space that is empty has more than halved during the first six months of this year. "Much of what is left comprises small pockets of vacant space," says Gerald Rundle, manager of Bayleys Research, who has announced the results of a mid-year vacancy survey conducted by the agency in July.

    Date Aug 2014

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  • Summerset green-lights $130m Ellerslie village

    Summerset green-lights $130m Ellerslie village

    Summerset Group, New Zealand's third-largest listed retirement village operator, will develop a $130 million village in the Ellerslie suburb of Auckland to accommodate 400 people after being granted resource consent.

    Date Aug 2014

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  • Economy boom: Bay of Plenty building consents top $50m

    Economy boom: Bay of Plenty building consents top $50m

    More than $50 million worth of building consents were issued in Tauranga last month - the highest since 2007 and a strong sign the city's economy is bouncing back from the recession.

    Date Aug 2014

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  • Auckland mall expansion planned by Kiwi

    Auckland mall expansion planned by Kiwi

    A new dining/restaurant and cinema zone at West Auckland's LynnMall and apartments and offices at Sylvia Park are planned. Chris Gudgeon, chief executive of New Zealand's biggest NZX listed landlord, the $2.2 billion Kiwi Income Property Trust, told of plans for the sites in a Herald video interview.

    Date Aug 2014

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  • Planned dump site now a hot property

    Planned dump site now a hot property

    Once slated to be a landfill, now sections sell for up to $1.4m at Weiti Bay Sections at a northern Auckland coastal site once destined to be a dump have sold for up to $1.4 million.

    Date Aug 2014

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  • Dress-Smart completes expansion

    Dress-Smart completes expansion

    Discount retail outlet Dress-Smart in Onehunga has been expanded and upgraded, with about another 1000sq m added. Gaylene Powell, centre manager, said the work had been completed and Puma, Asics and Kathmandu would occupy the new areas. The property is owned by Lend Lease Real Estate Partners New Zealand and managed by Oyster Group.

    Date Aug 2014

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  • Three Chinese banks grab prime CBD spots

    Three Chinese banks grab prime CBD spots

    Three Chinese banks have leased offices in Auckland's central business district, putting further pressure on the stretched sector, says a leasing agent. Martin Hudson, a director of Metro Commercial at 151 Queen St, said the banks were some of the world's largest businesses.

    Date Aug 2014

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  • Media Release: Commercial property website with a difference

    Media Release: Commercial property website with a difference

    A new website for commercial property, which combines nationwide property and businesses for sale listings with expert editorial from The New Zealand Herald, data insights and market analysis, has launched today.

    Date Aug 2014

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  • Team effort as office and rising star win awards

    Team effort as office and rising star win awards

    Colliers International added two more gongs to its trophy cabinet at the 2014 Real Estate Institute of New Zealand (Reinz) Awards for Excellence. The company's industrial team based at Highbrook, South Auckland, took home the Commercial and Industrial Office of the Year award for offices with 25 or fewer licensed salespeople, and investment sales broker Adam White won the Commercial and Industrial Rising Star of the Year title.

    Date Aug 2014

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  • Top agent bridges sales and leasing

    Top agent bridges sales and leasing

    Paul Hain from Bayleys Real Estate was judged New Zealand's top commercial and industrial real estate practitioner, taking out the premier individual title at this year's Awards for Excellence held by the Real Estate Institute of New Zealand.

    Date Aug 2014

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  • Council invited developer to buy QEII Square, private papers reveal

    Council invited developer to buy QEII Square, private papers reveal

    The privatisation of Queen Elizabeth Square for a giant mall downtown in the CBD was initiated by Auckland Council last year, documents show.

    Date Aug 2014

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  • Fiji property past doesn't worry Vanubaka men

    Fiji property past doesn't worry Vanubaka men

    A New Zealand businessman in a group selling 72 residential sites on a Fiji island says he's well aware of trouble his fellow countrymen have suffered in that country.

    Date Aug 2014

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  • Trade Me back down on fees may lure back real estate listings

    Trade Me back down on fees may lure back real estate listings

    Trade Me Group, New Zealand's largest auction website, will probably lure back real estate listings from its rival realestate.co.nz after yesterday backing down on a 10-month push to hike fees under a new structure, an analyst says.

    Date Aug 2014

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  • 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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  • 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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  • 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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  • 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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  • Park dusts off noise barrier plan

    Park dusts off noise barrier plan

    Eden Park's operators have tabled plans to borrow $1.8 million to install a sound barrier for the east stand. The barrier, to surround what was formerly the terraces end of the ground, was built soon after the 2011 Rugby World Cup but never installed. It may finally be put up next year.

    Date Jul 2014

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  • 'Desperate shortage' of retail space, says Auckland councillor

    'Desperate shortage' of retail space, says Auckland councillor

    Auckland is suffering a desperate shortage of land for business expansion and retailing with a "critical short supply" of large format shopping space, says one Auckland councillor.

    Date Jul 2014

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  • CBD feels the squeeze

    CBD feels the squeeze

    Auckland suffering critical shortage of office space despite return of cranes on skyline.

    Date Jul 2014

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  • Properties sold in leaseback deal

    Properties sold in leaseback deal

    New Zealand real estate investment specialist Caniwi Capital has bought chicken processing plants, hatcheries and farms from Inghams Enterprises NZ in a $57 million sale and leaseback deal.

    Date Jul 2014

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  • Former Auckland developer US scheme

    Former Auckland developer US scheme

    Former Auckland apartment developer Lily Zhong is planning a US$380 million ($436 million) scheme to develop commercial and residential units on vacant land in Florida.

    Date Jul 2014

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  • More homes wanted around Cornwall Park

    More homes wanted around Cornwall Park

    Intensive housing development on land surrounding Cornwall Park is being proposed. The submission to Auckland Council's Proposed Unitary Plan also seeks the axing of historic and demolition controls, sparking fears of annual lease payment rises.

    Date Jul 2014

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  • Environmental group backs Unitec housing plan

    Environmental group backs Unitec housing plan

    An organisation representing 10,000 young Kiwis backs plans for Unitec and Eden Park, saying the city needs more intensive development and young people need housing choices.

    Date Jul 2014

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  • Rest home operator Oceania to list - report

    Rest home operator Oceania to list - report

    One of New Zealand's biggest retirement village and rest home operators could be poised to list on the NZX and ASX, seeking to raise up to $300 million, according to the Australian Financial Review.

    Date Jul 2014

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  • Ryman adds Tropicana to its portfolio

    Ryman adds Tropicana to its portfolio

    Tropicana, one of the biggest privately owned blocks of land in inner Auckland, has been sold to the retirement giant Ryman Healthcare. The 8.92ha farm in the Lynfield/Mt Roskill area was owned by Wilfred Allen "Bill" Subritzky, now in his late 80s. Ryman confirmed the purchase yesterday in an NZX notice.

    Date Jul 2014

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  • Reality TV queen offloads sports bar

    Reality TV queen offloads sports bar

    TV mogul Julie Christie has placed her Auckland Viaduct-based sports bar on the market, along with her extensive personal collection of sports memorabilia. The Herald can reveal the move follows the Touchdown Productions founder's decision to switch her focus from television and hospitality interests and concentrate on a workplace drug-testing business.

    Date Jul 2014

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  • Brian Rudman: Cement traps us in the bad old days

    Brian Rudman: Cement traps us in the bad old days

    Plan for giant waterfront silos clashes with Super City aim of giving us all a say in way our city is developed

    Date Jul 2014

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  • Proposal opens up Queens Wharf

    Proposal opens up Queens Wharf

    Public space with stunning views counters plan for commercial buildings. The western side of Queens Wharf could become open space as part of plans for the downtown waterfront area. Waterfront Auckland wants to demolish the Cloud and ferry facilities to open up the western side of the "people's wharf".

    Date Jul 2014

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  • Canadians in $1 billion property buy

    Canadians in $1 billion property buy

    Opportunities in the portfolio for further NZ expansion, says AMP Capital The new Canadian owners of the $1 billion real estate fund have opportunities to expand in New Zealand by further investing in real estate assets at Botany, Manukau, Tauranga and Christchurch, according to the man in charge of managing the business.

    Date Jul 2014

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  • AMP Capital sells $1b of buildings offshore

    AMP Capital sells $1b of buildings offshore

    AMP Capital Investors has agreed to sell 18 New Zealand properties worth more than $1 billion to Canada's Public Sector Pension Investment Board.

    Date Jul 2014

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  • Agribusiness Report: Foreign purchases and rural property

    Agribusiness Report: Foreign purchases and rural property

    It is difficult to determine if the purchase of rural properties by foreigners is a catalyst for higher rural land prices, but data supplied by the Overseas Investment Office (OIO) contains surprises -- like the tiny Grand Duchy of Luxembourg and principality of Monaco having received OIO approval to "invest" in more New Zealand land during the past five years than much-maligned China.

    Date Jul 2014

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  • NZ fourth globally for real estate market transparency

    NZ fourth globally for real estate market transparency

    New Zealand has been placed fourth in the world in the "highly transparent" category of JLL's biennial Global Real Estate Transparency report (Greti).

    Date Jun 2014

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  • Big tourism complex on market

    Big tourism complex on market

    Rotorua's second biggest tourist accommodation specialist, Kiwipaka, is on the market for the first time since it was built in 1986. The complex was opened by Doug and Bev McLeay after Doug picked up scores of hitchhikers and realised there was nowhere cheap for them to stay in Rotorua.

    Date Jun 2014

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  • Sitting or standing, it's a great chance

    Sitting or standing, it's a great chance

    A central Auckland commercial property with a new lease to one of New Zealand's largest office furniture suppliers and offering longer term redevelopment potential is for sale as part of Bayleys' latest Total Property portfolio.

    Date Jun 2014

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