The week in New Zealand real estate - 1 October 2020

The week in New Zealand real estate  1 October 2020  hero

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

Office

  • Asset Plus shareholders have approved plans to develop a $130M office building in Albany. Auckland Council will be the anchor tenant. The project may be funded with the sale of the 22 Stoddard Road Shopping Centre. More info here.
  • Construction has begun on the new home for ACC in Hamilton. The development in partnership with Tainui Group Holdings is targeted for completion in October 2022. More info here.

Hotels

  • TFE Hotels will open their second Travelodge Hotel in NZ on 28 October in Auckland's Wynyard Quarter. Developed by Infratil, it is the first of six buildings to be completed in their mixed-use development. More info here.

Residential

  • Kiwisaver provider Generate is believed to be the first to invest in community housing, putting $15M into Salvation Army developments. The project involves 118 homes in Auckland. More info here.

Government

  • Kāinga Ora is exploring a new building consenting process to speed up its building programme. An independent authority called Consentium is planned to oversee the consent process. More info here.
  • The Government has set a $40M fund to subsidise the cost of rent relief dispute resolution between commercial landlords and tenants. The subsidy only applies when preapproved resolution services are engaged. More info here.
  • Auckland Council is seeking to sell more than 100 properties to Waka Kotahi (NZTA) for $95M. The properties were acquired by Auckland Transport for the Mill Road and Penlink infrastructure projects. The projects are now being delivered by Waka Kotahi. More info here.
  • Heritage listed Seddon House in Hokitika will be seismically strengthened and refitted as offices using $22M of funding from the Government's infrastructure fund. The Department of Conservation will lease the whole building as its West Coast hub. More info here.

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

William Silk

Analyst | Stategic Advisory

Auckland CBD

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 reseasrch, reporting and analysis to support strategic commercial proprety decision making. 

View expert