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The week in real estate development - 19 August 2021

The week in real estate development  19 August 2021

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

New Zealand real estate development news

  • Auckland Airport announces plans to merge terminalsAuckland Airport has announced plans to begin its $1B project to merge its domestic and international terminals from early 2022. The new domestic operation will be three times the size of the current domestic terminal and will be supported by a new transport hub including upgraded pedestrian links, transport links and car parking. 
  • University of Auckland achieves 6 Green Star Design rating: The University of Auckland has achieved a 6 Green Star Design rating for the redevelopment of its Social Sciences Building. The project includes redeveloping the 50 year old existing building to meet sustainability initiatives as well as developing a new timber atrium. Completion is expected in 2024.
  • Willis Bond to begin construction on new development in 2022: Willis Bond will begin construction of its new development ‘The Wharf Terraces’ in Hobsonville Point in early 2022. The development includes 9 terraced houses along the waterfront of Catalina Bay. The terraced houses are priced from $1.745M including a car park. 
  • Rotorua Economic Development identifies central car parks for apartment developments: Rotorua Economic Development has identified two central car parks in Rotorua for further investigation as apartment developments. The apartment developments would be at least four storeys and could be constructed within the next three years to help support the supply of housing in central Rotorua.  
  • Nelson City Council considering selling land to Kāinga Ora: Nelson City Council is considering a proposal to sell two central city properties to Kāinga Ora to develop social and affordable housing. The sites are 4,500 sqm and 961 sqm. The sale is expected to be voted on at a council meeting next week. 
  • Tākaka Co-housing Neighbourhood progressing: The Tākaka Co-housing Neighbourhood in Golden Bay is progressing with 20 of the 34 units now sold. The two-bedroom homes start at $525,000 and will not increase between now and completion. Completion is expected early 2024.  
  • Tasman District Council to submit 10 proposals to the Infrastructure Acceleration Fund: Tasman District Council is supporting 10 proposed developments and submitting them to the Infrastructure Acceleration Fund. The funding would be used for roads, water mains and wastewater systems. The 10 proposed developments could enable up to 5,000 homes throughout the Tasman District.  
  • Land released for housing development in New Brighton: Three large blocks have been released for housing development in New Brighton. ChristchurchNZ are calling for expressions of interest to develop the land into medium-density residential units. The land is located alongside the Brighton Mall.  
  • USG Boral announces shut down of New Zealand operation: Construction materials supplier USG Boral has announced plans to shut down operation in New Zealand due to lack of success.

Global real estate development news  

  • Wee Hur Holdings lodges mixed use plans: Wee Hur Holdings has lodged plans for a $400M mixed use development in Brisbane. The development includes a 28-storey apartment tower, a 26-storey student tower, and a 7-storey aged care facility. Construction is expected to begin in 2022 with completion in 2025. 
  • Quarantine facility gains approval: Plans for a COVID-19 quarantine facility near Brisbane Airport have gained approval. The 1,000-bed facility will be developed on a 29-ha site by mid-2022. The development aims to help stop COVID-19 leakages from hotel quarantine.  
  • Plans achieve green light for commercial development: Joint venture partners Far East Consortium and Cbus Property have been given approval for a $100M commercial development in Perth. The plans for the 3,800 sqm site include a 14-storey commercial development with 26,000 sqm of office space, a 900 sqm wellness centre, 176 bicycle parks, end of trip facilities and 1,100 sqm of retail ground floor space.  
  • Yanchep Central announces shopping centre expansion plansYanchep Central has announced $22M expansion plans for the shopping centre in Perth. The plans include a Coles supermarket, 8 retail tenancies, a liquor store, 7-Eleven fuel station and childcare and medical centres. 
  • Movie studio precinct plans announced for western Sydney: Plans for a $150M movie studio precinct in western Sydney have been announced. The development of the 41-ha site will include 10 production stages, filming tanks, construction and design facilities, and a film school.  
  • Facebook announces data centre development: Facebook has announced plans to develop a $800M data centre in Phoenix, Arizona. The 89,186 sqm data centre will be solar powered and feature house routers, switches, servers, and storage systems. The development will support 1,500 construction jobs.  
  • Plans for UK shopping centre redevelopment to go ahead: Plans for the redevelopment of Queensmere Shopping Centre in Slough, UK are being submitted to the council later this year. The redevelopment plans include developing 1,600 homes, 10,000 sqm retail space and 50,000 sqm of office space.  
  • Lendlease to develop its first data centre: Lendlease has announced plans to develop a $800M data centre in Tokyo. The 60,000 sqm data centre will commence construction this year with completion expected in 2024. 

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


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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