Stellar run for Auckland’s Highbrook and Hawke’s Bay markets
Epitomising the fantastic run the Auckland industrial property sector has had over the past few years was the addition of another industry award for Colliers International’s high-performing Industrial team based at Highbrook, South Auckland.
Charles Cooper, Colliers International's Auckland Managing Director, says this was the fifth time in six years the South Auckland based Highbrook office had won the coveted REINZ top Commercial and Industrial Office Award for offices with 25 or fewer licensed salespeople.
“With the Industrial team picking up the recent RICS NZ Agency Team of the Year Award as well, winning both prestigious industry awards for 2019 caps a phenomenal 12 months for the Highbrook team with sales and leasing transactions in excess of $1 billion in 2018,” says Cooper.
A number of notable transactions – many of which were some of the largest industrial property sales and leasing deals in New Zealand last year – helped the office achieve the accolades. This included the sale of Foodstuffs’ North Island distribution centre at Roma Rd, Mt Roskill (pictured below) for a record-breaking $93 million, as well as transacting two of the biggest design-build deals, for Waste Management and Foodstuffs.
Last year's sale of the Foodstuffs Auckland distribution centre at 60 Roma Road, Mt Roskill, was the largest single industrial property transaction in New Zealand on record
Greg Goldfinch, National Director of Industrial was also recognised, finishing as a finalist in the REINZ Commercial and Industrial Salesperson of the Year Award for 2019.
Goldfinch noted the awards were testament to the team’s achievements and dedication in a highly competitive industry and segment of the market.
“We are thrilled to be recognised by both REINZ and RICS NZ as a leader in our field, which highlights our reputation, our relentless attitude, the solid relationships the team has built in the industry and our clients’ faith in us as trusted advisors,” Goldfinch says.
Commenting on the industrial sector outlook, Goldfinch noted that the solid fundamentals in place that had enabled such a strong run in recent years, remain steadfast.
“Available space in Auckland’s industrial sector is at a record low 1.5 per cent or less than 200,000 square metres of vacant space. This is less than half of what was available five years ago.
“While there has been a supply response, and developers are looking for more opportunities, construction sector constraints mean demand and supply imbalances will remain.
“With strong demand and a low interest rate environment, we expect another strong finish to 2019 that will flow over into 2020 as well,” says Goldfinch.
Colliers International’s Hawke’s Bay team took out the REINZ 2019 Commercial and Industrial Office Award for offices with 10 or fewer licenced salespeople.
Hawke’s Bay Director Cam Ward says they were proud to receive the award, which was also the first time that the office had entered the awards.
“Population growth, economic expansion and solid employment opportunities in the region have led to a positive growth story for Hawke’s Bay’s commercial and industrial sector over the past few years.
“Buoyant conditions have supported more leasing activity and we have seen sales activity rise from loyal local purchasers coinciding with an influx of purchasers from further afield.
“We are grateful for our clients’ support and the recognition by the real estate industry for our hard work and commitment. The well-established team of agents at Colliers continually strive to get the best results for our clients,” says Ward.
The Real Estate Institute of New Zealand (REINZ) is a membership organisation representing more than 14,000 real estate professionals nationwide.
Its annual awards recognise excellence across all facets of property.