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The week in real estate development - 14 October 2021

NZ_AucklandCBD_StrategicAdvisory_The week in real estate development  14 October 2021

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

New Zealand real estate development news

  • Chris Farhi vlog checks out development on the waterfront east: The vlog checked out development along the eastern side of Auckland's waterfront. Projects include Cooper & Co's refurbishment of the Barrington and Sofrana buildings in Britomart, Seascape and student accommodation being built for the University of Auckland. The vlog also examined the mysterious clearance of buildings at the corner of Beach Road and The Strand.
  • Kāinga Ora awards first prefab transitional housing contract: Kāinga Ora has awarded its first off-site manufacturing contract for prefab transitional housing. The contract was awarded to Builtsmart to build 51 three and four-bedroom homes at its facility in Huntly which will then be transported to new sites in Rotorua. The order will take 33 weeks to complete. 
  • Kāpiti Air Urban release plans for Kāpiti Coast AirportKāpiti Air Urban has released plans of a new vision for Kāpiti Coast Airport which is owned by Templeton Group. The plans include 2,000 new homes, an avionics hub, a commercial precinct, a regional terminal, eco-accommodation, retail, and hospitality. Templeton Group is also developing its own plans. 
  • Crown to sell development lots to more developers: Crown rebuild company Ōtākaro has announced it will sell 3 of 14 development lots within the Christchurch east frame housing development to other developers to speed up progress. Fletcher Living signed a deal with the Crown six years ago to develop 900 homes across the 14 lots with 250 homes completed or are currently under construction.  
  • Amberely Hotel opens after makeoverThe Amberely Hotel in north Canterbury has reopened after 12 months of refurbishment works. The multimillion-dollar refurbishment work included 11 rooms, a new restaurant, bar, wine and grocery section, a garden bar, and a gaming room. 
  • Catholic church sells retirement village to fund development: The Catholic diocese in Christchurch is selling Maryville Courts retirement village after 40 years to help fund its $100M new cathedral and central city precinct.  
  • Lyttelton Port expansion nearing completion: Lyttelton Port in Christchurch is nearing the completion of the first stage of an $85M expansion. The expansion is extending the port's footprint by 16 hectares using rubble from the Christchurch earthquakes. The expansion will be completed mid-2023. 
  • Waitaki District Council releases draft spatial planWaitaki District Council has released its draft spatial plan for growth over the next 30 years. The plan includes 200 hectares of residential growth areas and 100 hectares of land for medium density residential development. It will create the capacity for 3,290 and 5,680 dwellings respectively. 

Global real estate development news  

  • Caydon Property Group lodges tower plans: Caydon Property Group has lodged plans for an 18-storey apartment tower in Gold Coast. The plans include 51 apartments with 35 two-bedroom units, 14 three-bedroom units and two penthouse units. The façade will feature fins that emulate the light reflecting from wave peaks. 
  • Plans for new rail stations revealed: Plans for two new rail stations in Pakenham, Melbourne have been released as the Victorian Government fast tracked the planning. The new stations will provide a link to shopping precincts, public transport and 450 car parks. The new stations are a part of a $15B upgrade. 
  • Plans lodged for commercial campusDeveloper Time and Place has lodged plans for a campus style commercial precinct in Sydney. The development will incorporate a treehouse architectural style and comprise 16,306 sqm of office and collaboration space and 1,492 sqm of ground floor retail.  
  • Google lodges plans to redevelop heritage buildings: Google has lodged plans to redevelop the existing Royal Edward Victualling Yard in Sydney. The plans include the redevelopment of two heritage buildings and a three-level extension. The development will enable Google to grow its technology campus which is currently spread over three sites. 
  • Third.i acquires mixed-use development site: Third.i has acquired a mixed-use development site on Vauxhall Walk in London. The site 26,003 sqm site has planning permission for 160 new homes and co-working office space.  
  • The New West End Company announces investment: The New West End Company has announced details for a $6.74B capital investment over the next 5 years. The investment will be split across 22 existing and new West End developments including turning Cavendish Square into a health and wellbeing destination and a 2,000-capacity music venue. 
  • Hotel development at former hotel site to begin in 2022: Development at the former Whitehouse Hotel site in Abersoch, UK, will begin in March 2022 with completion in 2023. The £30M development includes a new hotel and apartments comprising 42 luxury rooms, a restaurant, function facilities, gym, swimming pools, treatment rooms and a thermal suite.  
  • OMA completes Tenjin Business Centre: OMA has completed the Tenjin Business Centre in Fukuoka, Japan. The building comprises 59,480 sqm of mixed-use office space. The façade is glazed and has two pixelated edges to give the building a sense of softness. This is OMA’s first ground-up office building in Japan. 

Contact property consultant Chris Farhi at Colliers Strategic Advisory to request an email notification for this weekly update.


Related Experts

Renee Lintott

Analyst

Auckland CBD

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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