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NZ Occupier Update | 29 January 2020

Strategic Advisory NZ occupier update Auckland CBD

Local updates

  • The government has announced $12 billion of infrastructure spending. The spend includes the Harbour Bridge Skypath project, new rail stations in Drury, and a range of state highway projects. More info here.
  • Investore shareholders have signed off on the $140 million deal to acquire three large-format retail assets from Stride Property. The deal features Bunnings Mt Roskill, Mt Wellington Shopping Centre in Auckland, and Tauranga’s Bay Central Shopping Centre. The deal is now conditional on OIO approval. More info here and here.
  • Foodstuffs are building the country’s largest solar panel farm on the roof of their new distribution centre at Auckland International Airport. The system will contain 2,915 solar panels providing enough electricity to power 213 average-sized new homes. More info here.
  • Augusta Capital shareholders are backing a takeover by Australian listed-entity Centuria Capital. More info here.
  • IHG’s sustainable ‘voco’ brand will be coming to Auckland, with the Holiday Inn Express, co-sharing a new hotel development on the corner of Albert and Wyndham Streets in Auckland CBD. The voco will focus on a ‘me time’ concept with premium finishes and user-friendly technology. More info here.
  • Taupo’s Huka Lodge has been sold to a US private equity firm. The deal is conditional on OIO approval. More info here.
  • Universities in New Zealand have spent over $3.4B in the last 10 years on property and land. This responds to many existing buildings having reached the end of their economic lives. More info here.

Overseas updates

  • German supermarket chain Kaufland is pulling out of the Australian markets. The company is now planning to focus on its core European operations. The company had already purchased property in Australia that it was working on developing. More info here.
  • Louis Vuitton is opening its first restaurant branded Le Café V at its flagship store in Osaka, Japan. More info here.
  • Edinburgh Council are planning a $5B investment in affordable housing. The 10 year plan will involve 5,000 new council homes with rent set at 25% to 50% less than private rentals. More info here.
  • The Toronto Federal Government has announced a $230M investment in an affordable housing project in Mirvish Village. 366 of the 916 units will be designated as affordable. More info here.

 

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Related Experts

William Silk

Analyst | Stategic Advisory

Auckland

William joined the Strategic Advisory team as an Analyst  in the Auckland CBD office in 2019, after completing studies at The University of Auckland. 

Specialising in research, reporting and analysis to support strategic commercial proprety decision making. 

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