Market News

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

  • 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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