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The week in New Zealand real estate - 5 March 2021

The week in New Zealand real estate  5 March 2021

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

Industrial

  • Vodafone is planning to upgrade and build at least 250 cell sites across the country in 2021. This is to support the changes in working habits caused by COVID-19. More info here.
  • A 13,603 sqm distribution centre is for sale in Palmerston North with a 12-month leaseback to Countdown returning $1.2M. The 3.47 ha property includes 1.45 ha of bare land with options to land bank, sell, or develop to occupy or lease. More info here.

Retail

  • Kiwibank is closing seven branches across New Zealand over the next year as more customers move to online banking. More info here.

Housing

  • Settlers of Kotare Village in Hawkes Bay are starting legal action against the Koanga Institute for misleading and deceptive conduct when the village was first promoted. The village includes 28 sections that are leased between $59,000 and $99,000 for 34 years. More info here.
  • Porirua based iwi Ngâti Toa Rangatira has taken a two-thirds shareholding in the entity Aegis Retirement Living Limited which owns the Whitby Lakes Retirement Village. The village includes 61 stand-alone villas and 71 apartments housing 180 residents. More info here.

Sustainability

  • The Laminex New Zealand factory has avoided more than 35 tonnes of carbon dioxide since installing a solar power system three months ago. The system enabled a 29% reduction in external power requirements. The 2,724 sqm solar panel system includes 1,362 solar panels. More info here.

Government

  • The Minister of Finance has given a directive to the Reserve Bank in relation to the housing market and monetary policy. The directive requires the Reserve Bank to assess the effect of its monetary policy decisions on the Government’s policy to support more sustainable house prices. More info here.
  • Heritage New Zealand Pouhere Taonga has given three buildings in Wellington a Category 1 designation. The buildings are the Wellington Central Library, the Wellington Trades Hall, and the McLean Flats and Gordon Wilson Flats. More info here.
  • A small kiosk that was occupied by Police since 1989 in Christchurch is being demolished. The Police decided to not renew the lease five years ago. The city council decided the site will be used to relocate the Citizens’ War Memorial. 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.

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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.

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