New Zealand occupier update | 13 January 2020

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Local updates

  • Auckland Council will be the anchor tenant for a new 26,675 sqm office building being developed by Asset Plus at Monroe Lane, Albany. The council leased 15,100 sqm within the building to accommodate its North/West Hub. The 5-star Green Star building is located a short walk from the Albany Park & Ride. Colliers' Strategic Advice and Office Leasing teams are proud to have represented Auckland Council as their tenant representatives in securing this sustainable new building. More info here.
  • Metlifecare's Board is backing an increased takeover offer of $7.00 per share from Swedish fund manager EQT's Asia Pacific Village Group. In the absence of a better offer, the buyout is subject to valuation of assets and a shareholder vote in April 2020. More info here.
  • Foot traffic in parts of Christchurch CBD has increased above pre-earthquake levels. 685 people per hour are walking along Cashel Mall compared with 400-500 in 2008. This has been driven by completion of new developments such as the Riverside Market and generally restored confidence in the CBD.  More info here.
  • A Papakāinga development in Lower Hutt is aiming to help Māori into home ownership. The development is located on the former Wainuiomata College which was handed back to Taranaki Whānui via treaty settlement processes. The site could accommodate some 200 homes. A mixed development model is being used, including rentals, shared equity schemes, and homes qualifying for the First Home Grant. More info here.

Overseas updates

  • The Irish Government has backed plans to part-fund a new NZ$1.67B technology campus for Trinity College Dublin. The campus is located in the Silicon Docks area adjacent to the Grand Canal in the Dublin city centre. The campus is part of the Grand Canal Innovation District, close to tech firms such as Google, Facebook, Airbnb and LinkedIn. More info here.
  • LinkedIn is creating a major European headquarters in Dublin after pre-leasing the remaining 39,950 sqm of office space in Wilton Park, near to Grand Canal. LinkedIn leased 13,935 sqm of the development from developer iPut during 2018. The remaining space is expected to complete in 2023. More info here.
  • Adobe have released video of their redesigned headquarters in San Jose, California. The floor plates have been opened up and colour has been used to inspire innovation and collaboration. The space was designed by Gensler. More info here.

 

Need help with your next big property decision? Talk to Colliers Strategic Advisory.


Related Experts

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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