Tech giant Microsoft Inc said last Wednesday it would throw $US500 million at reducing housing unaffordability around its hometown of Seattle, and mayors around the region listed ways they’d make development easier.
Auckland has again ranked among the least affordable cities internationally in Demographia’s annual international housing affordability survey, out today, but Tauranga again beats it to take the rap as least affordable of the 8 New Zealand centres on the survey.
Bayleys agents have sold Lion Breweries’ former head office building in Newmarket, a Symonds St retail unit and a commercial unit on The Strand.
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Brisbane-based ASX-listed Cromwell Property Group completed an $A228 million ($NZ242.5 million) capital-raising at the start of this month intended largely to contribute to its share in a 23-property investment by the European trust it launched in 2017.
Legal administration of Maungauika/North Head transfers from the Department of Conservation to the Tupuna Maunga o Tamaki Makaurau Authority today, the last of 14 transfers begun in 2014 under the Nga Mana Whenua o Tamaki Makaurau Collective Redress Act.
Ray White Commercial agents have sold 4 properties around Auckland, 3 in conjunction with other Ray White agencies. One is on Newmarket Broadway, 2 are in Grey Lynn and the biggest, ASB Bank’s north-west regional centre, is in Henderson.
Bayleys agents have sold a Riverhead property with a development scheme plan in place and a Glen Eden commercial building with vacant tenancies.
House sales in December fell to their lowest level for that month in 7 years, the Real Estate Institute said today.
The Trust Investments Property Fund has ended up with ownership of HEB Construction Ltd’s headquarters building in Wiri at a slightly higher price than it negotiated early last year after the rental figure was finalised, taking its portfolio of commercial properties to $150 million.
Barfoot & Thompson managing director Peter Thompson acknowledged last week – on the agency’s latest residential sales figures – that it’s become a buyer’s market.
The Commerce Commission said last week it had filed proceedings in the Wellington High Court against gas network operator First Gas Ltd for anti-competitive conduct in acquiring the Bay of Plenty assets of GasNet Ltd.
Retirement village developer, owner & operator Summerset Group Holdings Ltd lifted its sales in the fourth quarter, the same as it did in 2017, but fell well short of its total 2017 sales figure.
Quotable Value Ltd’s monthly chart of house price movements, out today, shows Auckland going from a just-positive 0.4% shift over the 12 months to November, to a just-negative 0.4% shift for the December year.
Singaporean property giants CapitaLand Ltd & AscendasSingbridge Pte Ltd announced their intention to merge their interests yesterday.
German building materials supplier Gebr Knauf KG has entered into an agreement to acquire the international businesses of US company Armstrong World Industries Inc, on top of its $US7 billion acquisition of Chicago-based USG Corp. In New Zealand, the Commerce Commission is considering the USG merger’s competition impacts.
Bayleys commercial agents on the North Shore have reported 4 sales & 6 leases to complete their 2018 business.
In the turbulence in the week before Vital Healthcare Property Trust’s annual meeting in December, an update by the trust manager on brownfield development & strategic acquisitions was easily set aside.
Augusta Capital Ltd has delayed the launch of its tourism fund while it raises new capital for its industrial fund and starts a new single-asset fund.
Palmerston North developer John Farquhar’s commitment to intensification on an 8ha site above Oteha Valley Rd at Albany hasn’t wavered despite a conflict with officialdom over 18 years.
Consents for new homes nationally & in Auckland fell in November after picking up in the previous 12 months from a slowdown in 2016.
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Dissident corporate unitholders in the Vital Healthcare Property Trust got majority support for 3 of their 5 proposals put to the annual meeting yesterday, but failed in the bid to get their nominee elected to the management company board.
Kiwi Property Group Ltd has acquired 43 Carbine Rd – across the railway tracks from the Sylvia Park shopping centre in Mt Wellington – for $25 million.
Stride Property Ltd has unconditionally agreed the sale of one property to property & funds manager Oyster Management Ltd and the purchase of another from the Goodman Property Trust.
International building materials manufacturers & suppliers Gebr Knauf KG of Germany and USG Corp of the US have sought Commerce Commission clearance for their merger.
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