Market News
Bringing you the latest commercial property market news from NZ Herald and TrueCommercial.
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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
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 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
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
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
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
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
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
Plan for giant waterfront silos clashes with Super City aim of giving us all a say in way our city is developedDate Jul 2014
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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
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 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
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
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
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
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