Market News

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

  • 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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  • 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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  • 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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  • 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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