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The week in New Zealand real estate - 22 January 2021

The week in New Zealand real estate  22 January 2021

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

Chris Farhi Vlog

  • This week the vlog revisited a series of developments that were under construction in central Auckland last year to check out their progress. Seven projects are covered including the Carlaw Park Student Village, CAB Apartments and 10 Madden Street. More info here.

Office

  • Few COVID19 commercial rent disputes have been settled by the government’s resolution scheme. Only 3 disputes were settled by 31 December 2020. More info here.

Industrial

  • A two-year project to clean up 1 million litres of abandoned toxic waste has started in Northland. The waste was dumped at a property in Ruakaka. More info here.
  • St Johns has nearly completed its new headquarters in Timaru. More info here.

Retail

  • Countdown has received resource consent for a 1,600 sqm Countdown Metro supermarket in Herne Bay, Auckland. The $40M development by Ben Cook will be leased by Countdown for 12 years. The store will open in 2022. More info here.

Hotels

  • The site of the planned Radisson Hotel and apartment development in Remarkables Park, Queenstown has been listed for sale by its mortgagee. The 1.1 ha site has consent for a 426-room hotel and 180 apartments. More info here.

Housing

  • Residential listings in December were only half the number of listings on the market in December 2018 according to REINZ. This low has coincided with record-high median sale prices in 11 regions around the country. More info here.
  • Willis Bond has published photos of its latest apartment development at 30 Madden Street in Wynyard Quarter. More info here.
  • Wellington City Council has signed a 15-year lease with The Wellington Company to provide the Te Kāinga Aroha apartments as affordable rentals. The apartments will be for low-income renters and essential workers. More info here.
  • Ngāi Tahu Property has started civil works construction for its 300-home Te Pā Tāhuna development in central Queenstown. 105 of the 300 homes are KiwiBuild homes, including some apartments. More info here.

 Government

  • The government released its Public Housing Plan which sets out where it plans to build the 8,000 new public and transitional homes it had forecast in its prior budget. More info here.
  • The New Plymouth District Council is reviewing options for inner-city parking after closing the 265-car park Powderham Street building due to earthquake risk. Long term loss of parking could see businesses relocate from the city centre. More info here.
  • The Wellington Company served a cease-and-desist notice on Shelly Bay protestors, who have responded with a trespass notice on the developer. The protesters have been occupying Wellington’s Shelly Bay development site. 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