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New Zealand occupier update | 3 February 2020

NZOccupier12May  City skyline at night HERO

Local updates

  • The government has allocated $30M to assist Māori land owners to develop under-utilised land. More info here.
  • Law firm Russell McVeagh is taking registrations for building owners to join a class action suit relating to the combustible insulation products. More info here.
  • Renters have been awarded more than $124,000 from landlords fined for failing to meet insulation requirements. There have been more than 120 Tenancy Tribunal cases since the law changed in July 2019. More info here.
  • Countdown has gained Overseas Investment Office approval to purchase 1.2ha of residential land in Lincoln, Christchurch. They plan to develop a new supermarket with 160 car parks and a café. More info here.

Overseas updates

  • Mirvac has announced plans to redevelop the Harbourside Shopping Centre in Darling Harbour, Sydney. The $1B plan includes revamping the shopping centre and adding office and luxury apartments. More info here.
  • Bunnings are planning to build a hotel above a new Bunnings store in Doncaster, Melbourne. The $70M, 183-room hotel will be operated by Mercure. More info here.
  • Brookfield Asset Management has sold half of its stake in the $800M Chevron headquarters in Perth to Invesco. The building is due for completion in 2023. Chevron holds a 15 year lease over 42,000 sqm of office space. More info here.
  • Lululemon’s new headquarters has gained planning approval from the Vancouver City Council. Construction will begin in September. More info here.
  • Timelapse video has been released of the construction of a new hospital in Wuhan, China. The hospital is being developed over a 10 day period to help with containing the spread of the Coronavirus. 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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