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The week in corporate real estate - 13 May 2021

The week in corporate real estate  13 May 2021

A weekly update of the biggest corporate real estate news from New Zealand and around the globe.

New Zealand corporate real estate news

  • CoreNet Symposium is happening 27 May 2021: Tickets are on sale now for NZ's biggest corporate real estate event of the year.
  • Amazon Web Services opens new office in NZ: Amazon's cloud computing business has moved into a new flagship office at Commercial Bay in central Auckland.
  • Covid-19 vaccination clinic in former Warehouse store: The Warehouse's former premises in Hibury Mall in Auckland’s Birkenhead will be used for one of Northern Regional Health's vaccine centres. The location of the large-scale community clinic has been praised by the local council.
  • Investore purchases Countdown Petone: Investore has purchased Countdown in Petone for $37.3M. The property is Investore's 35th property anchored by Countdown. Countdown is Investore’s single largest tenant and they have announced that another supermarket purchase is in advanced negotiations.
  • Quest to open seven new NZ hotels: Quest Apartment Hotels will open seven new hotels before the end of July 2022. Quest is now the largest hotel brand in New Zealand with 42 hotels. 
  • Municipal Chambers repairs begin: Repair work has begun on the old municipal chambers building in Christchurch after a decade. Developer Box 112 is leasing the category 1 heritage building and undertaking the restoration and strengthening works. Ratepayers are contributing $10M whilst Box 112 pays the remainder. 

Global corporate real estate news

  • Google will allow 20% of employees to work remotely permanently: Google will allow up to 20% of its employees to work remotely permanently. The move follows other major tech firms relaxing their policies. Google had previously announced that it expects employees to return to the office at least three days per week once.
  • Goldman Sachs sets end date for working from home: Goldman Sachs has told employees in USA to return to the office by 14 June 2021 and Britain by 21 June 2021. The announcement impacts over 26,000 employees.
  • KPMG UK staff to work in the office only two days per week: KPMG has told its UK employees that they will work a "four-day fortnight", with two days per week in the office and the balance of time either at home or at client sites.
  • French bank SocGen allowing employees to work from home: SocGen has announced that all employees will be able to work from home up to 3 days per week on a permanent basis after the pandemic. The bank’s chief executive said flexible working arrangements were absolutely feasible without impacting client relations or productivity.
  • Flexible working is a growing workplace trend: Forbes has reported employer confidence in remote working and flexible schedules is growing. 92% of employers surveyed felt that staff who work from home had the same or better productivity levels as those in the office.
  • Hub Australia opens 8th co-working site: Hub Australia has opened their 8th co-working site located in Canberra. The 2,000 sqm space in the Civic Quarter building can accommodate 300 members over two levels.
  • Qantas to keep Sydney headquarters: Qantas will keep its headquarters in Sydney after reviewing its property portfolio to cut costs amid the pandemic. JetStar will also stay in their Melbourne offices. 
  • Moxy hotel to open at Sydney airport: Marriott International has signed an agreement to debut their Moxy brand in Sydney with an airport location to open in 2023. The hotel will have 301 guest rooms plus meeting and co-working spaces.
  • InterContinental to open in Paramatta: IHG Hotels has signed its flagship brand InterContinental to occupy part of a mixed-use development in Paramatta CBD. The hotel will occupy a prime corner location and offer 200 guest rooms when it opens in 2025. 
  • Apple to develop research campus: Apple plans to invest $1B for a new campus at the Research Triangle Park in North Carolina, USA. The 92,903 sqm campus will accommodate 3,000 staff and operate using 100% renewable energy.
  • L’Oréal’s second headquarters: L’Oréal is planning to open a second company headquarters in Los Angeles, USA. The 51,096 sqm space will allow L’Oréal to consolidate teams from three locations.
  • Ghost kitchen operator expanding into Hong Kong: JustKitchen is expanding into Hong Kong with its first facility opening in the city’s Eastern District in June 2021. The kitchen will offer their usual food menus, mixology items and alcohol with delivery allowed across the city.

Contact property consultant Chris Farhi at Colliers Strategic Advisory to request an email notification for this weekly update 

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William Silk

Analyst | Stategic Advisory


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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