JLL agents have sold 2 Penrose warehouses, one at a 5.1% yield and the other vacant, plus a Rosebank Rd industrial unit in Avondale.
4 properties were sold at Bayleys’ final Total Property 5 auction round last Thursday, out of 6 on offer.
Bob Dey Property Report, weekly diary
Major commercial property owner – and nowadays developer – Precinct Properties NZ Ltd lifted its net profit after tax for the year to June by 57.2% to $254.9 million.
Precinct Properties NZ Ltd increased its net profit after tax by 57.2% to $254.9 million (2017: $162.1 million) in the year to June.
Precinct Properties NZ Ltd announced the $298 million redevelopment of 1 Queen St – currently HSBC House – yesterday, to include a luxury hotel operated by the InterContinental Hotels Group (IHG), with office space above.
Bayleys sold a property at Te Puke in its Total Property auction in Tauranga on Wednesday, and followed up with 4 Wellington sales yesterday, including 3 in Petone.
More cruise voyages & passengers boosted cruise ship spending by 18.3% to $434 million in the year to June, Statistics NZ said yesterday.
Heartland Bank, Bob Dey Property Report
Oyster appoints development manager – Cheryl Macaulay dies – McLauchlan replaces Hunter on Argosy board – Jeremy Brown joins RDT Pacific board – Berry Simons promotes Andrews & Storer
All 5 apartments auctioned at Ray White City Apartments today were sold under the hammer – 2 in Zest sold as one lot after being passed in separately.
The one apartment auctioned at City Sales today, a unit in the Avoka building off Karangahape Rd, was sold under the hammer at just over $3000/m² internal. Caption: The Avoka at 31 Day St.
A Kingsland townhouse and the Momotea restaurant group’s Penrose headquarters were both passed in at Bayleys’ auction today, without a bid on either.
The house sale price trend continued in July: Auckland down slightly, rest of the country well up, so an increase nationally.
Argosy Property Ltd has unconditionally acquired The Warehouse property at 11 Coliseum Drive in Albany for $26.4 million.
Industrial & commercial property specialist Commercial Realty Ltd has reported deals completed over $50,000 from May to July.
The Government opened the prequalification process yesterday for first-homebuyers & second-chancers wanting to buy a KiwiBuild home.
Colliers agents have sold 3 warehouse & office properties in the Airport Oaks precinct in Auckland. In one of 2 Napier transactions, 4 corner properties were sold in a multi-vendor deal.
3 properties at the southern Te Aro end of Wellington’s central business district and 2 in suburban Island Bay & Rongotai have been sold by Bayleys agents.
Retirement village operator Summerset Group Holdings Ltd said today strong margins on both sales & resales lifted its underlying profit for the June half by 27% to $45.2 million.
Auckland council planners say the Government’s proposals for national planning standards will conflict with important features of the Auckland unitary plan.
Auckland Council’s planning committee agreed last week to remedy the council’s failure to consult the public over plans for reserves in the Tamaki regeneration area.
Urban Legacy & Partners Ltd (Haydn & Mark Staples) said at the weekend it would lodge its application this week for a notified consent hearing on its proposal to redevelop half of the central block across Tamaki Drive from Mission Bay beach with a $200 million scheme. Image above: The Tamaki Drive-Patteson Avenue corner of […]
Chinese state-owned developer Greenland Group & Golden Horse Group of Hong Kong turned the first sod on Thursday for a 6.9ha 1400-apartment joint-venture project at Erskineville in Sydney’s inner-west, on a former industrial site which Goodman Group sold to Golden Horse in 2014.
New York-listed international commercial data & analytics specialist Dun & Bradstreet Inc entered into an agreement this week to be privatised by an investor group led by a former Blackstone Group LP private equity specialist & 2 other fund managers.
4 properties in Hamilton, Rotorua & Tauranga have been sold in Bayleys’ Total Property 5 auction series as it continues down country.
JLL agents have sold a vacant 3-storey Parnell building, 2 buildings on the west of the isthmus in Lynfield & Mt Eden and a unit in Vinegar Lane, and a multi-tenanted Browns Bay building on the Shore.
A Rosedale live/work unit has been sold and 4 units – 2 industrial, one each of office & retail – leased in the latest round of transactions by Bayleys North Shore agents.
Queenstown’s Millbrook Resort has won resource consent for the $50 million development of the neighbouring 67ha Dalgleish Farm into an addition to its golfcourse, interspersed with 42 sections for high-end homes.
Mipad Holdings Ltd (Lewis Gdanitz & Yoshihuro Kawamura) has opened the 4-star mi-pad Queenstown, which the owners describe as “New Zealand’s first fully ‘smart’ hotel” and “a next-generation, energy-conscious hotel experience for the smart traveller and the marriage of technology, sustainability, comfort & convenience”. The 6-storey hotel at 4 Henry St has 57 rooms with […]
Bob Dey Property Report, weekly diary
Bayleys Realty Group Ltd has confirmed its acquisition of the Knight Frank property consultancy operations in New Zealand, as part of a strategic partnership with the international agency.
A Fitch research report out this week says the ratings business expects Australian credit growth to weaken as house prices continue to slump.
The Ministry of Business, Innovation & Employment (MBIE) opened consultation on Wednesday on proposals to amend a number of acceptable solutions & verification methods, and to revoke the simple house acceptable solution SH/AS1.
Barfoot & Thompson said on Wednesday the cost of renting a home in Auckland was rising at the slowest pace in years.
Heavy bidding saw a Pt England house and a leasehold apartment in The Landings at Quay Park sold at Ray White City Apartments’ auction today. An Aucklander apartment was passed in, also after heavy bidding.
A commercial building in New Lynn and a Harvard apartment in the city centre were both passed in at Barfoot & Thompson’s auction today.
The Reserve Bank kept the official cashrate at 1.75% today, and governor Adrian Orr projected that it would stay at that level into 2020.
Both apartments auctioned at Bayleys on Tuesday were passed in, neither receiving a bid.
5 of the 8 properties auctioned in Bayleys’ Total Property 5 auction in Auckland today sold under the hammer, and a sixth sold a couple of hours later at a hefty premium above the last bid.
Less than 2 years after Auckland Council’s zone-changing unitary plan started to become operative, council chief economist David Norman concludes that it’s been a major cause of housing intensification. On the other side of the equation – which most on the council worried about as it wrote a plan encouraging more brownfield redevelopment & less […]
Steel & Tube Holdings Ltd announced 2 capital issues today to raise $80.9 million, and produced slightly more positive guidance on its financial results for the year that ended on 30 June.
A reconfigured warehouse unit & 2 shops in Manukau have been sold by Bayleys agents. In Manurewa, 2 unit in a retail complex have been sold in one lot, after an adjoining unit was bought on its own.
Auckland Council’s planning committee will consider a proposal tomorrow to rezone open space, primarily arising from land exchanges under the Tamaki regeneration project and under Panuku Development Auckland’s land disposal & rationalisation process.
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