New Zealand’s newest Colliers office have completed their first deals, despite the recent restrictions of the Covid-19 lockdown.
In response to the surging Northland economy and abundance of investment opportunities in the region, Colliers opened an office in Whangārei earlier this year.
Led by experienced property professional Nigel Ingham, the office recently confirmed the sale of prominent Whangārei retail sites 4 and 6 Gumdigger Place.
The premium grade freehold properties are occupied by national-brand tenants and were sold on the back of a dedicated marketing campaign.
Number 4 Gumdigger Place, a 965sq m building on a 2,508sq m site, sold for $2.65 million at a 4 per cent yield, while Number 6, a 994sq m property, sold for $2.3 million at a 5 per cent yield.
Ingham, Director at Colliers Whangārei, and Broker Daniel Sloper worked on the sales alongside Jimmy O’Brien, Director at Colliers Auckland North, and Leroy Wolland, National Director of Retail Leasing at Colliers.
Ingham says the yields represent record-setting figures for Whangārei and show the strength of the market in the fast-growing region.
“We put together a strong campaign for the properties that led us to cold call and door knock nearly 100 potential buyers, while we also completed 36 inspections of the sites,” Ingham says.
“In all, we had 18 offers submitted for the properties that were highly competitive and we were pleased to be able to deliver a tremendous result for our vendors.
“We are grateful for the work put in by our colleagues Jimmy O’Brien and Leroy Wolland and our wider collaboration shows the power of the Colliers network as the buyer of number 6 Gumdigger Place was put in contact with us by the Auckland retail team.”
Looking ahead, Ingham says Colliers Whangārei will continue to play a key role in the market as Northland experiences rapid growth.
“It is pleasing to be able to complete these deals despite the Covid-19 lockdown.
“Our office has secured a number of exciting listings recently and we expect to see continued interest in the properties we have brought to the market.
“These recent transactions have shown we can continue to do business in a range of conditions and will work constructively with all stakeholders to achieve favourable outcomes.”
Following the launch of the Whangārei office, Ingham recruited born-and-bred local Sloper to join him and Sloper has a focus on the selling and leasing of commercial property throughout the region.
In 2019, Sloper was awarded the Marcus Kitt Memorial Bursary while studying at Massey University, which is named after former Colliers staff member and Massey alumnus Marcus Kitt, who passed away in 2015.
Ingham, who has worked for Colliers for more than 25 years, says Sloper is a great asset to the team.
“During lockdown, Daniel leased an industrial property on Port Road, Port Whangārei. The tenant inspected the property Tuesday 17 August, the day before lockdown. He kept in touch and negotiated the deal remotely. The tenant was impressed with Daniel’s service and follow up, so gave him an agency to sell his commercial property portfolio in Wellsford, which is a credit to Daniel’s dedication to the role.
“We have an excellent dynamic in the Whangārei office, and I look forward to our continued success in the years to come as we build on our relationships throughout the Northland region.”