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The week in New Zealand real estate - 25 June 2020

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

Industrial

  • Construction of Countdown’s newest 38,000 sqm distribution centre in Palmerston North will start shortly. The centre will service Countdown stores from Gisborne to Wellington. More info here.
  • NZ Post is investing $170M to double its processing capacity of parcels. This includes a new ‘super depot’ in Grenada, Wellington with a 10,440 sqm processing floor which is expected to open in 2022. More info here.

Office

  • The government is planning to trial regional hubs in response to tightening office space in Wellington CBD. More info here.

Retail

  • Insurance company IAG has proposed closing all 53 AMI retail stores. Their last remaining State store would also close and 350 roles would shift to digital teams. More info here.
  • Kikki K has closed its seven remaining stores in New Zealand but will keep its Australian stores open. The chain was put into receivership in March 2020. More info here.

Housing

  • Almost 7 hectares of residential development land in Westgate is being marketed for sale. The Terrace Housing and Apartment Building zoned land allows for development of up to 16 metres adjacent to State Highway 16. More info here.

Specialist

  • Opponents of the Kennedy Point Marina on Waiheke Island have lost their High Court appeal regarding planning consents for the marina. The opponents now face cost applications from Auckland Council and the developer of about $200,000. More info here.

Government

  • Decisions regarding Auckland’s Light Rail have been deferred until after the September elections. More info here.
  • Auckland Council will start trailing a pedestrian focused Queen Street with their ‘Access for Everyone’ pilot programme being brought forward. More info here.

Related Experts

William Silk

Analyst | Stategic Advisory

Auckland

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. 

View expert