NZ Occupier Update | 4 May 2020

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Local updates

  • The government has announced a law change that will allow eligible development projects to be fast-tracked through the resource consent process under the Resource Management Act, as part of the COVID19 recovery. More info here.
  • The government announced it is allocating $107M into facilities and services to address homelessness. More than 1,000 motel rooms have been made available for the homeless since the lockdown began. More info here.
  • Sudima and Scenic Hotels may close some of their hotels for up to 18 months in response to coronavirus travel restrictions. Scenic Group may close one hotel in Dunedin and one in Franz Josef for 18 months. Sudima may close their new five-star hotel in Christchurch along with a 250 bed hotel in Rotorua. More info here.
  • The 3.17 hectare former Caughey Preston rest home site in Remuera has sold during the lockdown. The site was sold to a New Zealand buyer who intends to develop a master-planned residential development on the site. More info here.
  • Smales Farm will transition into a Transport-Oriented Development over the next 20-30 years after a private plan change was approved. The proposal included tall buildings and mixed use development on the site (including apartments). More info here.
  • A new completion date of January 2025 has been set for the New Zealand International Convention Centre. Fletcher Construction has resumed work under alert level 3. More info here.
  • Costco received resource consent approval for their $100M, three-level store in Westgate, Auckland. The store will have almost 800 car parks, cover the size of two rugby fields, and is set to open in 2021. More info here.
  • Countdown has opened its new Rototuna supermarket a month earlier than scheduled. The Hamilton store will allow collection of online orders during the lockdown. More info here.

Overseas updates

  • Approvals for four mega projects in Melbourne are being fast-tracked following the formation of a high-level planning taskforce to boost the economy. The projects include the Beulah's $2B mixed-use Southbank development and Charter Hall’s $1.5B office project at 555 Collins Street. More info here.
  • The New South Wales government is attempting to lure Virgin Australia's head office to the Aerotropolis development near the Western Sydney International Airport. This responds to the Queensland government attempts to retain the headquarters in Brisbane. More info here.
  • Work on the world’s largest football stadium has kicked off in Guanzhou, China which is expected to be completed in 2022. The 100,000 seat stadium is set to cost $2.8B and the design is inspired by a lotus flower. More info here.

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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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