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NZ Occupier Update | 9 March 2020

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Local updates

  • Kiwi Property has been given standing Overseas Investment Office consent to purchase up to 6 ha of residential land to develop build-to-rent housing. More info here.
  • M&L Hospitality are redeveloping the former Food Alley building on Albert Street, Auckland central into a 31-storey office tower. The project involves redevelopment of an amalgamated site of 4,371 sqm, and will include a restored heritage facade on the lower levels. More info here.
  • Wellington co-working company Digital Nomad is adding 1,000 sqm (+50%) of space within the next four months. More info here.
  • The government has approved funding for a new Christchurch sports stadium. The project is estimated to cost $473M, split between government and council. It will seat 25,000 people. More info here.
  • Spark is opening its new Christchurch headquarters. The building is the first new building developed by private developers in Cathedral Square since the earthquake. Spark will occupy three office floors. More info here.
  • An Invercargill City Council subsidiary has listed for sale 14 forests in the Southland, Otago and Nelson-Marlborough regions. A total of 3,599 ha of land is being offered with a productive area of 3,058 ha predominantly growing radiata pine. More info here.

Overseas updates

  • Google is investing more than $10B on US offices and data centres this year. This is in addition to the $13B the company spent last year. The investment will be focused into 11 states. More info here.
  • Dubai has just opened a world first 3D printed commercial building. The 250 sqm building took only 17 days to build / print. Dubai plans to 3D print at least 25 percent of its new buildings by 2030. More info here.