NZ Occupier Update | 18 March 2020

NZOccupierUpdate9March2020NEW

Local updates

  • Fidelity Insurance is selling its Newmarket headquarters. Fidelity currently owns its headquarters, but is considering relocation options. The property is on the edge of Auckland Domain and uniquely positioned for a range of different uses (office, residential, student accommodation, education, etc). More info here.
  • Meal-kit business HelloFresh opened its new 6,200 sqm Auckland hub in Mt Wellington, Auckland. The new warehouse/distribution centre allows the company to pack a meal-kit in just 10 seconds. More info here.
  • The Ted Manson Foundation opened the new $35M Life Apartments development in central Auckland. More than 100 people have settled into 73 social housing units in the 18-level tower. 18 units were sold on the private market and the rest of the units leased to the Ministry of Housing and Urban Development. More info here.
  • Earthworks will begin later this year on the $1B Te Awa Lakes residential scheme just outside of Hamilton. More info here.
  • Whakatāne District Council and local Iwi have confirmed $36M for investment into the Whakatāne Regeneration Programme. The programme includes a new boat harbour, town centre and riverfront revitalisation works, and transformation of the Army Hall as a tourist destination. More info here.
  • Kiānga Ora has purchased a 17-unit motel outside of Wellington to use for transitional housing. Previously the Spinnaker Motel, the property will be refurbished before commencing its new use this winter. More info here.
  • Demolition of the former Cadbury factory in Dunedin will begin this month to make way for the new Dunedin Hospital. The project was previously estimated at $1.4B. More info here.

Overseas updates

  • Replacing unsafe cladding on buildings in London has been estimated to cost £4B. This will remedy fire safety issues in cladding systems similar to those in the Grenfell Tower. More info here.
  • The first tiny home village has been opened in San Jose as part of their response to homelessness. More info here.

Related Experts
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Chris Farhi

Director | Strategic Advisory

Auckland CBD

Chris is a Director within the Strategic Advisory team. The team helps you with your big property decisions and complex transactions.

Chris' advisory work focuses on:

  • Decision making processes (eg property strategy, business cases, feasibilities, etc)
  • Tenant representation for large lease transactions (office,  industrial and specialist-use)
  • Multi-site networks (eg consolidation strategies, optimisation, etc)

Chris’ background in brief:

  • Property strategy advisor for some of New Zealand’s most successful private sector, public sector and non-for-profit organisations.
  • Tenant representative (tenant-paid lease negotiator) for organisations ranging from small-to-medium enterprises through to major listed companies and government agencies.
  • Specialist skills in commercial leasing, financial analysis and market research.
  • Part-time lecturer at the University of Auckland Business School and commercial leasing trainer for the Royal Institution of Chartered Surveyors.

Chris’ qualifications include Honours degrees in both Civil Engineering and Property from the University of Auckland, and a Master of Philosophy from the University of Cambridge, UK. He is a Chartered Member of the Royal Institution of Chartered Surveyors.

Outside of work, Chris is a combat engineer in the NZ Army Reserve and a keen baker.

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