Key Assets portfolio showcases a healthy market

5:00 AM Saturday March 5, 2016 Paul Charman

Artist’s impression of aerial view of 282 Durham Street, Victoria Quarter, Christchurch

NAI Harcourts has released its first Key Assets portfolio for 2016, including more than 60 commercial properties and businesses for sale and lease.

General manager Greg Clarke says the portfolio is an excellent snapshot of the New Zealand’s robust commercial property market.

“Continued low interest rates, low inflation, low unemployment and increasing immigration combine to make for a healthy commercial market, but without the hysteria that’s been associated with the residential market, particularly in Auckland.

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New build on the corner of Anglesea and Collingwood Streets, Hamilton

Key Assets is a shop window into not just the NAI Harcourts listings in New Zealand, but is also one connection in the NAI Harcourts global network across 6500 brokers in 35 countries.”

As NAI Harcourts’ flagship portfolio, Key Assets features a range of the exciting properties being marketed by NAI all over the country.

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Kerrs Rd, Wiri clear-span warehouse.

Some of the key properties listed in the latest Key Assets include:

  •          A new fully integrated health and wellbeing centre in Whangarei is calling for expressions of interest from potential tenant businesses. The site at 69 Porowini Ave, across from Okara Centre, will include the full suite of medical professionals, as well as opportunities for a café, and beauty therapists. Marketed by NAI Harcourts Optimize Realty Ltd.
  •          A rare opportunity exists in Kerrs Rd, Wiri to purchase a 4295sqm site including a 2864sq m clear-span warehouse with a secure yard and 50 car parks. Marketed by NAI Harcourts North Shore Commercial.
  •          A stunning new-build in Hamilton CBD offers investors the security and flexibility of an existing tenant on a six-year lease with additional unleased space. Total area of the property is 900sq m over two-levels plus basement car parking on the corner of Anglesea and Collingwood streets. Marketed by NAI Harcourts Hamilton Commercial.
  •          Vinoptima Wines on Ngakoroa Rd, Gisborne is for sale as a fully operating business active both in NZ and internationally. The sale includes a total of 11.9ha in two blocks including 10ha planted in gewurtztraminer. The winery and been designed and built to maximise the potential of the single variety. Marketed by NAI Harcourts Grenadier Real Estate Ltd.
  •          Exciting opportunities exist in Christchurch’s new Victoria Quarter. The complex, anchored by the new Science Alive development, will offer 5000sq m of space for retail, commercial, and hospitality tenancies. The site is on the tram loop close to other proposed tourism operators as well as the town hall, Victoria Square and the proposed new convention centre. Marketed by NAI Harcourts Christchurch City Commercial.


Clarke says 2016 has started well for NAI Harcourts, with settled sales value in January up a massive 172 per cent on the same period last year.

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Vinoptima Wines, Gisborne.

“With that in mind it is fair to say that we have high expectations of the year ahead.”

While commercial property yields are at lower levels than expected by many owners even five years ago, they remain, in most cases, higher than term deposit rates, while at the same time allowing for capital gain, Clarke says.

“Different criteria is used in financing a commercial property. Often in the residential market greater emphasis is placed on details of the property being purchased. With commercial property, banks and other financial institutions generally take a wider view with greater emphasis on the borrower.

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Artist’s impression of 69 Porowini Ave, Whangarei.

“This can provide opportunity for successful business owners to purchase their own premises. It seems obvious that a prospective tenant, attractive to a landlord, may also be considered by a financier to be a good risk for financing a purchase perhaps outside their normal lending criteria.”

All these factors work concurrently, and the result is a market going from strength to strength, Clarke says.

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Greg Clarke, NAI Harcourts.