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The week in New Zealand real estate - 9 April 2021

The week in New Zealand real estate  9 April 2021

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

Chris Farhi Vlog 

Industrial 

  • Foodstuff’s new headquarters and distribution centre has opened. One News provided an inside look at the 77,000 sqm facility. More info here. 

Retail 

  • A joint venture between Tainui Group Holdings and Kiwi Property plans to develop a retail and office complex in Hamilton. The development includes a 10-storey office building, redeveloping the Centre Place mall and potentially reopening the underground train station below.  More info here. 

Hotel and tourism 

  • Millennium and Copthorne announced the cancellation of their hotel development plans in Whangarei. The cancellation is due to the changing nature of the tourism sector since 2019 when they agreed to purchase the land. The four-star hotel was to include 70-80 rooms. More info here. 

Housing 

  • Bayswater Marina Holdings have announced revised plans to develop land next to the Bayswater Marina in Auckland. The revised plans have decreased from 250 dwellings to 94 terraced homes and 27 apartments across three buildings. The plans also include upgrading the open spaces and recreation buildings. The $300M development will be called the Bayswater Maritime Precinct. More info here. 
  • The University of Auckland sold the Parnell home purchased for the vice-chancellor for $5,905,000. The University purchased the property for $5,062,000 in 2019. More info here. 
  • Glen Eden residents have expressed concerns about CPM 2019’s upcoming residential development. The development will include 246 homes, a café, a commercial centre and communal open spaces. The development achieved a fast track approval from the Ministry for the Environment. Over 1,000 people have signed a petition to stop the development being fast-tracked. More info here. 
  • A decision for the Sleepyhead development in ┼îhinewai is expected in the coming weeks. The proposed development includes 1,100 affordable homes and an industrial hub. More info here. 

Specialist Property 

  • The Chief Post Office in Britomart has reopened after four years due to construction relating to the City Rail Link. The original support columns of the Category A-listed heritage building were moved to make way for the CRL tunnels. More info here.  
  • St Gerard Church in Wellington will close next month after failure to raise money for earthquake strengthening works. Strengthening works were estimated to cost $10M.  More info here. 

Government 

  • Kaipara District Council has deferred the decision to approve Mangawhai Central Limited’s private plan change application. Mangawhai Central Limited want to develop 130 ha of former sheep and beef farmland. The development includes a light industrial business park, shopping centre, retirement village, supermarket and residential housing. The development will house 2,500 people. More info here. 
  • Auckland Council has limited the number of bookings for new consents or developments at any one time to four visits. The limitation has been put in place to prevent system overload and inspection delays. More info here. 
  • Wellington City Council has released plans to renew the Civic Square. The plans include new green areas and pedestrian connections in three key areas within the Central City Precinct. Over the last seven years, multiple buildings within the precinct have been closed due to seismic strength concerns. More info here.   
  • Christchurch City Council is planning to sell or sign long-term leases for 62 properties over the next 10 years including heritage building Rolleston House. Rolleston House has been used as a hostel since 1919 and was purchased by the council in 1974. The 62 properties have a combined rateable value of $24.5M. More info here. 
  • Temporary accommodation for businesses under the Canterbury Earthquake Order permitted by the Christchurch City Council expires at the end of June. After the earthquakes 1,000 temporary accommodation permits were issued. 148 permits are still being operated. More info here. 

Related Experts

Renee Lintott

Strategic Analyst

Auckland

Renee was the recipient of the Blair Hargrave/Colliers  Scholarship in 2019 before joining the  Strategic Advisory team as an analyst in the same year. Renee worked part time in the team for 2 years whilst completing  her tertiary qualifications and joined full time in mid 2021. 

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