2 new retail investments in a development just completed by the Broadway Property Group at Millwater, between Silverdale & Auckland’s northern motorway, were sold at a Colliers auction on Wednesday.
Housing & Urban Development Minister Phil Twyford introduced legislation to Parliament yesterday to ban the charging of letting fees to tenants.
Bayleys agent Gill Ireland has sold a range of properties around Nelson, from a long-term motel lease to 2 cbd buildings & a large industrial site.
Auckland Council’s finance & performance committee has approved the reinvestment of council property sales proceeds over the next 1-3 years into the ‘transform & unlock’ work programme – not necessarily into the same locality as the property sold – along with a broader suite of tools to fund urban development to be included in the […]
Transport Minister Phil Twyford introduced legislation yesterday to allow regions to apply for a regional fuel tax, initially for Auckland.
An apartment overlooking Basque Park on the Auckland cbd western fringe was sold at Ray White City Apartments’ auction today.
One city apartment was sold and another passed in at Barfoot & Thompson’s regular apartments & commercial auction today. A Glendowie property containing a shop & a house with weathertightness issues was also passed in.
While the US Federal Reserve lifted its federal funds rate target to a range of 1.5-1.75% overnight, New Zealand’s Reserve Bank held its official cashrate at 1.75% this morning.
The US Federal Reserve raised its funds rate target overnight to a range of 1.5-1.75%.
New Zealand’s net inflow of migrants slipped below 69,000/year in February, for the first time since May 2016.
The vote by NPT shareholders to switch to external management by Augusta Capital Ltd was clear on Monday: 96.71% in favour.
ANZ Banking Group Ltd will explore a sharemarket listing for its subsidiary UDC Finance Ltd.
Investore Property Ltd has set the interest rate for its new 6-year bonds at 4.4%, the minimum stated in the indicative terms sheet.
US fund manager BlackRock Inc, which bought a 5% stake in NZX-listed retail & office property investor Kiwi Property Group Ltd last week, has also lifted its holding in SkyCity Entertainment Group Ltd but cut its stake in Sky Network Television Ltd.
The former CPO building in Napier has been sold, 4 years after being refurbished & strengthened. It’s one of 5 commercial sales by Bayleys agents around Napier & Hastings.
Colliers agents have sold 2 Caltex service stations to investors, a workshop & storage units at Mt Maunganui have been sold and a local developer has acquired a car showroom in Hamilton.
US fund manager BlackRock Inc has taken a 5% stake in NZX-listed retail & office property investor Kiwi Property Group Ltd.
A Kaiapoi restaurant was sold at Bayleys’ Total Property auction in Christchurch. Other sales included 3 separate industrial lots in the Izone business park and 2 adjoining sections on Colombo St in the cbd.
Davis combines 2 roles at Harcourts – Lauchlan returns to JLL NZ as managing director – Fletcher chief transformation office quits – Key joins ANZ Bank’s parent board – Vector appoints 2 Sydney-based directors – Real Estate Institute appoints education director – Sewell on Generation Group board
Bob Dey Property Report, weekly diary
An Onehunga office & warehouse property was sold under the hammer at Barfoot & Thompson’s city auction today. A Brown St property in Ponsonby, with development potential from its mixed-use zoning, was passed in at a 4.8% yield on current rent. The 2 apartments on offer attracted little interest.
The median house price for New Zealand rose 6.9% in the year to February to $530,000 from $496,000 in February 2017, according to the latest data from the Real Estate Institute.
Bayleys has sold one Tutanekai St property (Nos 1226-1232) in Rotorua through its Total Property auction series and another outside the auctionroom, plus 3 more around Rotorua.
A new purpose-built warehouse in Euroclass’s 40ha Stonehill Business Park at Wiri (pictured) was passed in at CBRE’s auction today on a 5% yield.
One of 2 leasehold townhouses on Ngati Whatua o Orakei land at the foot of Parnell (the former railway land in Quay Park) was sold under the hammer at Ray White City Apartments’ auction today, but the second townhouse nearby was passed in with only a vendor bid.
A light industrial property in New Lynn was sold under the hammer at Colliers’ auction yesterday, but 2 inner suburban properties marked for redevelopment were passed in.
Bayleys agents on the North Shore have completed 2 sales outside the auctionroom and signed 7 leases in the last month.
Colliers agents have sold a Rosedale office to an owner-occupier. Down country, the agency has sold a Napier retail property and leased 2 Palmerston North warehouses.
Augusta Capital Ltd said on Thursday it had successfully concluded negotiations on the final property to be included in the initial portfolio for the Augusta Industrial Fund.
Colliers agents have sold a small office building on the city side of Mt Eden to a private investor.
Singapore-based real estate fund manager ARA Asset Management Ltd has agreed to buy the bulk of a 23% stake in ASX-listed Cromwell Property Group from a Johannesburg investor, Redefine Properties Ltd.
Bayleys sold 3 lower North Island properties at its Total Property auctions last week, one in Palmerston North and 2 in Petone & Thorndon, Wellington. The agency has also recorded 5 other sales around the Wellington region.
Advocates of removing urban growth boundaries have hailed a research paper on the effect of zoning on house prices, issued by the Reserve Bank of Australia last week.
Bob Dey Property Report, weekly diary