Skip to main content Skip to footer

The week in corporate real estate - 3 June 2021

The week in corporate real estate  3 June 2021

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

New Zealand corporate real estate news

  • Chris Farhi Vlog deep dives into corporate real estate: The latest vlog covered the biggest corporate real estate news during May 2021. Topics included Parliament's new buildings, Ashburton's new library and civic centre, and major headquarters announcements by Qantas, McLaren Group and Under Armour.
  • CoreNet Symposium was held on 27 May: CoreNet Global's New Zealand chapter held its annual symposium. Photos of the Symposium and the Soiree are now available on the Symposium website.
  • Precinct Properties to start construction of the One Queen Street development: Precinct Properties has announced it will commence construction of the One Queen Street development in central Auckland. The development builds on the success of Commercial Bay and features a luxury hotel, premium office space, and food and beverage. Law firm Bell Gully has been confirmed as an office tenant in the development.
  • Eke Panuku to require Green Star ratings:Eke Panuku has decided new commercial buildings using its sites must have a minimum of a Green Star 5 star rating. This will apply to all new commercial buildings over 1,000 sqm.
  • Rockit Global opens global headquarters:Rockit Global Limited has opened their new headquarters called ‘Te Ipu’ in Hastings. The 21,000 sqm building comprises a packhouse, cool store and office space. The building uses AI to efficiently sort, package and store apples. The new headquarters responds to the growing global demand for their products.
  • Kiwi Property to sell two malls:Kiwi Property is selling the Northlands Mall in Christchurch and The Plaza in Palmerston North to rebalance their portfolio. They recently reported a $195.6M profit for the year to March 2021. Their portfolio has also grown in value to $3.3B.
  • Christchurch RSA headquarters up for sale:The Christchurch Memorial Returned and Services Association has put their headquarters and restaurant up for sale. The building was opened in 2015 but four years after opening the restaurant Trenches was closed due to financial issues. The holding company went into liquidation last year with debts to Inland Revenue.

Global corporate real estate news

  • Google to open first physical retail store:Google is planning to open their first retail store in New York later this year. The store will allow customers to experience their products and services in immersive ways.
  • St Francis College plan new campus:St Francis College has signed a 30-year lease for 23,698 sqm in the Wheeler Building in Brooklyn, New York. The campus will include a 300-seat auditorium and cafeteria, 613 sqm library, and 241 sqm of outdoor space.
  • Apple mega lease dealApple has leased 65,125 sqm of office space in Sunnyvale Pathline Park, USA. The deal involves six buildings that can accommodate up to 3,500 employees. This is the largest office deal in the local area since the beginning of the pandemic.
  • The Argyll Club launches ‘Hub & Flex’: Flexible workspace providerThe Argyll Club has announced the launch of a new hybrid working product called Hub & Flex. The product allows a business to lease a private office hub for their core staff and receive an additional complimentary hot-desking solution for every two contracted desks. This product has been designed for businesses that may need more office flexibility post-pandemic.
  • Microsoft’s guide for hybrid working model:Microsoft’s USA staff are working under a hybrid working model and they have been making significant changes to accommodate the model. Some of these changes include upgrading security on employee home networks, updating conference rooms to ‘Teams rooms’, and improving consideration to well-being. Microsoft has released a guide for business leaders to provide advice on how to operate a hybrid working model.
  • EY introduces hybrid working model in the UK:EY has told their UK staff that they will move to a hybrid working model with staff working from home for at least two days each week. The announcement impacts 17,000 employees.
  • Uber announces new headquarters in Brazil:Uber has announced plans for a new 30,000 sqm headquarters in Brazil. The campus is expected to open in 2022 and accommodate 1,000 staff. The space has been designed for a hybrid work model, with employees working in the office for three days a week. The building will also comprise the first Uber Technology Centre in Latin America.
  • SAP introduces flex work plan:SAP has announced it will adopt a 100% flex work plan impacting 102,400 employees around the world. Employees will have the choice to work from home, at the office or remotely. The decision was based on results from a global survey that employees took at the end of 2020. The survey found that 49% of staff wanted to work in the office for one to two days each week.

 

Contact property consultant Chris Farhi at Colliers Strategic Advisory to request an email notification for this weekly update of the biggest corporate real estate news from New Zealand and around the globe.


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.

View expert

Renee Lintott

Analyst

Auckland CBD

Renee joined Colliers in August 2019 as a Project Assistant for the Project Management team. Renee is now an Analyst for the Strategic Advisory team.  Renee is currently in her final semester studying towards a Bachelor of Property and Bachelor of Commerce conjoint at the University of Auckland.

View expert