Browsing: Commercial

Commercial
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2020 saw increased vacancy rates in the office, industrial and retail markets with mixed yields in each sector, but Colliers research says it is not all about COVID While the adverse economic impact of COVID-19 was a rightfully expected influence, other market dynamics pre-COVID (such as vacancy rates that were at historic lows and increasing development activity) also played their part. Continue →
Commercial
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Colliers looks at the year that has been and what is in store for all sectors of the property market in the year to come Interest rates will remain low As the Reserve Bank and government continue to prioritise protection of employment and expansion of the economy, interest rates will remain low. Continue →
Commercial
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What has hit the central city hardest is not the economic fall-out from Covid-19, but the City Rail Link and other major infrastructure projections which have effectively closed off large parts of the CBD, says Director of New Zealand Mortgages & Securities (NZMS) James Kellow In many ways Auckland’s CBD is trailing behind the city fringe, but property values are holding up well with plenty of development and investment underway. Continue →
Commercial
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Takapuna went into the first lockdown with an office vacancy rate considerably lower than Auckland’s CBD, and still the North Shore metropolitan centre’s commercial occupancy remains high   In March, Colliers International reported that Takapuna’s office vacancy rate had fallen to 4.5% – down from 5.1% in September 2019. Continue →
Commercial Cuba St, Wellington
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A big data analysis shows people are increasingly getting back to city centres and tourism hotspots, suggesting a return to some more normal occupancy trends in the office market and promising signs for the retail sector Colliers International’s latest monthly research report utilises new data on people’s movements to look at the impacts of Covid-19 on the office and retail markets. Continue →
Commercial
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New Zealand’s hotel market has shown a surprisingly strong rebound since the domestic travel restrictions lifted in June, with demand being driven by tourism, business and mandatory isolation, Colliers reports Colliers International’s latest New Zealand Hotel Market Snapshot, released this week, examines the impact that Covid-19 has had on the sector, and the early beginnings of the recovery process. Continue →
Commercial
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Property Council New Zealand and the New Zealand Council of Retail Property have voiced concerns over the Government’s proposal to intervene in the industries contractual relationships “The announcement of a commercial rent dispute process is too little, too late for a majority of landlords and tenants”, says Property Council chief executive Leonie Freeman. Continue →
Commercial
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The impacts of COVID-19 has stalled New Zealand’s commercial property sector, with uncertainty over the long-term impacts driving a steep decline in market confidence, the Q1 2020 RICS New Zealand Commercial Property Monitor has found The quarterly market survey of New Zealand commercial property professionals released today by RICS shows that demand for commercial property from both occupiers and investors has stalled to begin 2020, leading to a dive in sentiment amongst investors and occupiers over the past three months. Continue →
Commercial
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Government and bank investment to stabilise commercial, office and industrial and residential property – and safeguard investors and their tenants – are essential to provide a platform for the recovery of the whole economy, says Nikki Connors The Reserve Bank of New Zealand told banks it would remove loan-to-value ratio (LVR) restrictions on residential mortgage lending for at least a year, with the idea that mortgage lending and feedback from banks would be monitored during what everyone expects to be a recessionary environment. Continue →
Commercial
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New Zealand’s $145 billion commercial property sector is facing hundreds of millions in lost revenue without further support, increasing the risk of stalling the economy, says Property Council New Zealand chief executive Leonie Freeman The challenges facing business are vast and unchartered. Continue →
Commercial
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The new Westfield Newmarket, Auckland which opened in early October, has set a new standard in food and hospitality for New Zealand with its suite of modern cafes, food stores, The Eatery Food Hall and the amazing Rooftop On Broadway The Urban Developer The “jewel in the crown” of the development, the centre’s dining and entertainment offer is a design driven dining destination for the entire family. Continue →
Commercial
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With interest rates low and likely to go lower, many savers, depositors and investors are now in search for a higher yield on their funds, says James Kellow, Director of New Zealand Mortgages & Securities (NZMS) Kiwi investors love property with the medium to long-term lease income profile and net return of commercial leases attractive to them.  Continue →
Commercial
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Commercial property investors in Wellington remain positive about the market despite the potential impacts of a proposed capital gains tax The latest quarterly Commercial Property Investor Confidence Survey by Colliers International reveals that buoyant business conditions are providing a positive environment for commercial property, with strong demand for all businesses servicing the domestic market. Continue →
Commercial
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Auckland and Wellington office landlords will hold the balance of power this year, while tenants will likely have more room for negotiation in Christchurch’s office sector, says Colliers International’s Director of Research and Communications, Chris Dibble Dibble says in Auckland, there is strong tenant demand, a shortage of available office space across the region and static net supply created from a development pipeline keeping pace with ongoing stock reductions from refurbishments and conversions. Continue →
Commercial
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Proptech innovation continues to change the way real estate is built, managed and used, from reducing construction costs and streamlining documentation processes to centralising building amenities with cloud-based solutions Proptech is one small part of a wider digital transformation attempting to fast track and enhance the property industry. Continue →
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