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March 8 2010
OWNERS of the Farmers department store chain have paid $33 million to buy the landmark block that its Lambton Quay Farmers store operates from.
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March 5 2010
The industrial property market is still being seriously squeezed, with over 650,000 square metres of warehouse and factory space empty across Auckland, but there are signs that the pressure is easing.
Sales, Leasing, Retail, Industrial, Character Space, Consultancy & Valuation, Occupier Services, Research & Consultancy, Auckland Office, North Shore Office, South Auckland Office, Wellington Office, Christchurch Office, Dhilan Balia, Cherry Higginson, Alan McMahon
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February 5 2010
Welcome to our first report of 2010. From now on we are publishing in the first week of each month. We have a new year, but do we have a new look for 2010? Our new data may give some clues to the year ahead.
Sales, Leasing, Retail, Industrial, Character Space, Consultancy & Valuation, Occupier Services, Research & Consultancy, Auckland Office, North Shore Office, South Auckland Office, Wellington Office, Christchurch Office, Dhilan Balia, Cherry Higginson, Alan McMahon
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December 18 2009
Colliers International’s December quarter commercial property confidence survey shows that confidence levels across the country have flattened since September.
Sales, Leasing, Retail, Industrial, Consultancy & Valuation, Research & Consultancy, Auckland Office, Whangarei Office, North Shore Office, South Auckland Office, Hamilton Office, Tauranga Office, Hawkes Bay Office, Palmerston North Office, Wellington Office, Christchurch Office, Nelson Office, Queenstown Office, Dunedin Office, George Hulbert, Alan McMahon
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December 18 2009
The headline reflects our hopes for the summer holiday weather rather than a sunny outlook for the property market in 2010. Our new confidence and vacancy survey results suggest that there are still clouds on the horizon.
Sales, Leasing, Retail, Industrial, Character Space, Consultancy & Valuation, Occupier Services, Research & Consultancy, Auckland Office, North Shore Office, South Auckland Office, Wellington Office, Christchurch Office, Dhilan Balia, Cherry Higginson, Alan McMahon
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December 4 2009
After stalling in late 2007, the industrial property engine is running again, but only in first gear. Market conditions in the industrial property sector mirror conditions in the other non-residential sectors.
Sales, Leasing, Retail, Industrial, Character Space, Consultancy & Valuation, Occupier Services, Research & Consultancy, Auckland Office, North Shore Office, South Auckland Office, Wellington Office, Christchurch Office, Dhilan Balia, Cherry Higginson, Alan McMahon
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November 27 2009
Significant property sales in the main centres, so far in 2009, have reached $1.16 billion, 22% ahead of 2008’s total of $942 million with a month to go. This is the total of retail, industrial, office and mixed commercial use sales over $2 million. Auckland’s total is well up on 2008, Wellington is slightly up and Christchurch is down.
Sales, Leasing, Retail, Industrial, Character Space, Consultancy & Valuation, Occupier Services, Research & Consultancy, Auckland Office, North Shore Office, South Auckland Office, Wellington Office, Christchurch Office, Dhilan Balia, Cherry Higginson, Alan McMahon
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November 18 2009
A rare parcel of freehold land adjacent to Christchurch International Airport is soon ot be developed by owners Calder Stewart.
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November 12 2009
In Auckland’s industrial heartland of Onehunga, Penrose and Mt Wellington, Colliers International’s industrial leasing team offers real expertise in operating on both sides of the landlord–tenant divide, helping tenants navigate the property market and finding new occupiers for landlords hungry to fill their space.
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November 5 2009
Colliers International is celebrating 20 years in New Zealand. Like the first days of the business in 1989, times are tight. However, the Colliers proposition is much stronger now than in those fledgling days.
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November 3 2009
NEARLY three hectares of Wellington warehouse space is up for lease as supermarket giant Foodstuffs prepares to shift operations to a giant new distribution centre in Palmerston North.
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November 3 2009
Heart of Horowhenua: Levin Mall is being sold after the Durney Group was forced to restructure to put liquidity back in the company.
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November 3 2009
LAND Equity Group managing director Donald Stott is now selling off one of the penthouses and a small shop on the ground floor of the large block his family trust owns on the corner of Taranaki and Wakefield Sts.
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November 2 2009
The grand old property on Martinborough Square has been a town focal point since it was built in 1882.
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November 2 2009
A TINY shop in the heart of Lambton Quay, which has gone on the market for the first time in decades, offers a rare chance for investors looking to get a toehold on Wellington’s golden mile.
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November 2 2009
Hilton Haulage is looking to sell then lease back its 1 hectare of prime industrial land in Hillsborough, Christchurch.
Situated beside the Lyttelton Port Companies “inland port” and adjacent to the main rail line, the site has three points of access as well as an enormous area of space for future development.
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November 2 2009
A prime Newtown site, just across the road from Wellington Hospital, that has been used by Collins Motors for half a century, is up for auction.
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November 2 2009
A TAWA building with an unusual mix of industrial, retail and residential tenants is going up for auction next month.
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October 29 2009
As we ride out the economic storm, commercial landlords continue to struggle with declining values, pressure on rents and increasing incentives, but in a country which finds itself on the outer edges of the economic storm.
Sales, Leasing, Retail, Industrial, Consultancy & Valuation, Occupier Services, Research & Consultancy, Auckland Office, North Shore Office, South Auckland Office, Wellington Office, Christchurch Office, Dhilan Balia, Cherry Higginson, Alan McMahon
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October 19 2009
A prime retail site is on offer, fronting onto one of Christchurch’s busiest thoroughfares.
Up to 960m² of space is available at 81 Clarence St, Riccarton, in a complex that has the added advantage of being alongside Tower Junction Mega Centre.
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October 10 2009
ONE of Wellington’s best-known cafes, Astoria at Midland Park in Lambton Quay, is for sale as a going concern after almost 14 years of trading under the same ownership.
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September 25 2009
September monthly report includes our regular quarterly updates of the rental and capital indices. In general we are still seeing easing of rental and capital values, some declines slowing and others gathering pace. Sometimes evidence of rental changes in particular take time to show.
Sales, Leasing, Retail, Industrial, Consultancy & Valuation, Occupier Services, Research & Consultancy, Auckland Office, North Shore Office, South Auckland Office, Wellington Office, Christchurch Office, Dhilan Balia, Cherry Higginson, Alan McMahon
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September 23 2009
Reduced rental growth expectations, combined with thin investor and tenant demand have combined to depress office property value, across the country during 2009.
Sales, Leasing, Consultancy & Valuation, Occupier Services, Research & Consultancy, Auckland Office, North Shore Office, South Auckland Office, Wellington Office, Christchurch Office, Dhilan Balia, Cherry Higginson, Alan McMahon
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September 21 2009
Colliers International’s September quarter commercial property confidence survey shows that confidence levels across the entire country are rising sharply, with the first positive confidence result taking place in the Tauranga / Mt Maunganui region.
Sales, Leasing, Retail, Industrial, Consultancy & Valuation, Occupier Services, Research & Consultancy, Auckland Office, Whangarei Office, North Shore Office, South Auckland Office, Hamilton Office, Tauranga Office, Hawkes Bay Office, Palmerston North Office, Wellington Office, Christchurch Office, Nelson Office, Queenstown Office, Dunedin Office, George Hulbert, Alan McMahon
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September 14 2009
Danny Schuster, the acclaimed North Canterbury viticulturalist, is keen to work in with any potential buyer of his winery, which was placed in receivership last month.
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September 11 2009
The largest office tower in the South Island, PricewaterhouseCoopers Centre in Christchurch, is being put on the market by owners Kiwi Income Property Trust.
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September 9 2009
The hive of activity at Ferrymead Central, on the doorstep of Christchurch’s affluent hill and seaside suburbs, has even surprised developer Tim Carter of the Carter Group.
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September 3 2009
With more than $1 billion spent on construction in Queenstown over the past five years, the resort town is poised for renewed growth in 2010.
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August 31 2009
After a few months of pretty bleak commentary it is refreshing to be able to record some positive signs. Firstly the decline in the industrial property market is slowing. Rents have declined and vacancy increased, but not dramatically.
Sales, Leasing, Retail, Industrial, Consultancy & Valuation, Occupier Services, Research & Consultancy, Auckland Office, North Shore Office, South Auckland Office, Wellington Office, Christchurch Office, Dhilan Balia, Cherry Higginson, Alan McMahon
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August 29 2009
Goodyear & Dunlop Tyres (NZ) Ltd has adopted a strategy to sell and lease back its properties, resulting in the last property owned by the company in New Zealand being offered for sale.
The freehold warehouse and office property with a 12 year lease at 1 Turin Place, East Tamaki, will be sold by auction at midday on Wednesday, September 9 at Colliers’ Highbrook office at Level 1, 52 Highbrook Drive.
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August 27 2009
The small number of commercial properties changing hands in central Queenstown is making it difficult to benchmark where values now lie.
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August 24 2009
INSURANCE giant AMP has sold its grand old former New Zealand head office on Customhouse Quay to a private overseas investor for $29.6 million.
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August 24 2009
The departure of hair salon Ginger Meggs from the historic building it has occupied in Merivale for the past 23 years paves the way for a new entrant to lease the prime spot.
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August 24 2009
Originally built for New Zealand's Navy, but having been in commercial hands for at least a decade now, a large, securely tenanted, two-unit office warehouse complex has come on to the market at 4C & 4D Rothwell Ave in the North Harbour industrial estate.
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August 20 2009
A big open shed on Auckland's North Shore is being transformed into the functional headquarters of an international marine business thanks to a joint effort by KCL Property and Colliers International.
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August 18 2009
SUPERMARKET giant Foodstuffs is poised to throw its arch-rival Progressive Enterprises out of another of its stores – this time in New Plymouth.
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August 6 2009
Widespread interest from diverse groups is expected in Queenstown’s Stormcat Lodge, which has just been put on the market after being placed in receivership in May.
The impressive Arthurs Point Rd accommodation complex at the base of Coronet Peak, opened its doors last year and is aimed at having the flexibility to cater for either seasonal workers or short term visitors in the tourist town. It has 98 rooms, mostly studio units and is set on 1.42ha of land, which has consents in place for future development.
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July 31 2009
Premium Christchurch property Airways Corporation is being offered for syndication by flourishing Timaru syndicator Commercial Investment Properties Ltd.
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July 31 2009
Investors starved of quality offerings are expected to keenly bid for six South Island properties being offered by Colliers International in its Mainland Auction campaign.
Investment brokers Dick Thomas and Craig Thiele, who are heading the campaign, make no secret of the fact that high calibre properties remain scarce as owners bide their time until more stock becomes available.
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July 30 2009
There are plenty of data available for those wishing to be optimistic about the outlook for retail property. Sending was up in April and May, immigration is becoming stronger, and vacancy in both retail and offi ce markets is well below levels that were seen in previous recessions.
Sales, Retail, Consultancy & Valuation, Occupier Services, Research & Consultancy, Investment, Auckland Office, Whangarei Office, North Shore Office, Hamilton Office, Tauranga Office, Hawkes Bay Office, Palmerston North Office, Wellington Office, Christchurch Office, Queenstown Office, Dunedin Office, Dhilan Balia, Cherry Higginson, Alan McMahon
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July 28 2009
The investment universe belongs to the private investor. In the continuing absence from the market of publicly listed entities, except of course in the role of vendor, it is high net worth individuals and private companies who have the field to themselves.
Sales, Leasing, Retail, Industrial, Consultancy & Valuation, Occupier Services, Research & Consultancy, Auckland Office, North Shore Office, South Auckland Office, Wellington Office, Christchurch Office, Dhilan Balia, Cherry Higginson, Alan McMahon
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July 18 2009
WELLINGTON investors have bought a building on Masterton’s ‘‘No 1’’ corner, formerly owned by property mogul Sir Robert Jones.
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July 15 2009
Scott Mitchell is pondering what to cook for his eight staff next Friday lunchtime. By his own admission he does not have a large repertoire.
It’s a new policy in place at the Christchurch offices of commodity exporter Gardner Smith. Each month one of the eight staff has to take a turn at cooking lunch for their colleagues in the swish kitchen of their new premises.
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July 3 2009
Colliers International’s latest commercial property confidence survey shows that confidence levels in Auckland and Wellington are rising sharply from the previous record lows recorded in March. Optimism is sharply up in Auckland and Wellington for the first time since a steady downward trend began in March 2007. However, levels have held steady in Christchurch.
Sales, Leasing, Retail, Industrial, Consultancy & Valuation, Occupier Services, Research & Consultancy, Auckland Office, Whangarei Office, North Shore Office, South Auckland Office, Hamilton Office, Tauranga Office, Hawkes Bay Office, Palmerston North Office, Wellington Office, Christchurch Office, Nelson Office, Queenstown Office, Dunedin Office, George Hulbert, Alan McMahon
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June 29 2009
CBD retail vacancy has gone up, CBD office vacancy has gone up, and market rental and capital values have fallen away across the three main centres so far this year.
Sales, Leasing, Retail, Industrial, Consultancy & Valuation, Occupier Services, Research & Consultancy, Auckland Office, North Shore Office, South Auckland Office, Wellington Office, Christchurch Office, Dhilan Balia, Cherry Higginson, Alan McMahon
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June 17 2009
Tax has always been an important consideration in property transactions, and sale and leasebacks are no exception, says Ernst & Young partner, Ben Willems.
While non-tax factors will drive the process, addressing tax matters from the outset will ensure you minimise the overall tax cost of the process, and maximise the overall value from a sale and leaseback.
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May 29 2009
In the six months since the publication of our last in-depth Auckland Industrial report, the same economic forces at work then, have continued to shape the market. According to Colliers International's latest market indicators report, a reduction in the numbers and value of property transactions, weakening demand, softening yields and a decline in land values are all illustrative of these economic constraints.
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May 29 2009
The PCNZ/IPD investment index for the year to March 2009 has been released. The numbers reveal that, for the first time since the composite index was published in 1993, total return was negative, as steady income returns were overwhelmed by declining capital values.
Sales, Leasing, Retail, Industrial, Consultancy & Valuation, Occupier Services, Research & Consultancy, Auckland Office, North Shore Office, South Auckland Office, Wellington Office, Christchurch Office, Dhilan Balia, Cherry Higginson, Alan McMahon
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May 29 2009
Opportunity not to be missed - Strategically located within the eastern CBD waterfront precinct, 32-34 Mahuhu cres borders Parnell village and is close to Britomart Transport Hub, cafes and restaurants.
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April 29 2009
New Zealand owned transport and logistics company, NZL Group, has moved its Auckland headquarters, warehouse and loading facilities to East Tamaki to consolidate its operations and cater for future growth.
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April 27 2009
Nick Hunt, the Christchurch investor who recently bought Shades Arcade, has put the final piece of his jigsaw in place by buying the neighbouring property in Hereford St.
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April 24 2009
The findings of our recently published Auckland Metropolitan Office Report are consistent with our other research papers over the last year. Reducing supply, reducing demand, reducing values. About the only thing that hasn’t reduced is vacancy.
Sales, Retail, Industrial, Consultancy & Valuation, Occupier Services, Research & Consultancy, Auckland Office, Wellington Office, Christchurch Office, Dhilan Balia, Cherry Higginson, Alan McMahon
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