Colliers Portfolio 2022 | Issue 1

Colliers Portfolio Issue 1

YHA Portfolio - Nine strategically located turnkey tourist assets available individually or in one line More on page 4

Accelerating success.

February/March

2022

Recent Portfolio Deals SOLD

SOLD

SOLD

2 Colliers Portfolio

36 Richard Pearse Drive, Māngere Sold by Brad Johnston, Greg Goldfinch, Paul Jarvie

SOLD

34A & 36 Athens Road, Onehunga Sold by Josh Coburn, James Appleby, Connor Glengarry

SOLD

261 Maunganui Road, Mount Maunganui Sold by Grant White, Simon Clark

18 Ash Road, Wiri Sold by Paul Jarvie, Ash Vincent

SOLD

7 Waitane Place, Onekawa Sold by Danny Blair, Calum Ironside

SOLD

72 Richard Pearse Drive, Auckland Airport Sold by Paul Jarvie, Brad Johnston

165-167 Dominion Road, East Tāmaki Sold by James Dickey, Josh Franklin, Paul Jarvie

SOLD

21 Hobill Avenue, Wiri Sold by Greg Goldfinch, Shoneet Chand

SOLD

39C Rennie Drive, Māngere Sold by Tom Peterson, Mitch Broderson

Colliers Portfolio Issue 1 YHA Portfolio

Front cover feature

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Premium Listings

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Ground-breaking build-torent sale in Grey Lynn

Key Listings

New Zealand Research Report February 2022

Taylors & Gordon

Colliers Portfolio is online Take Colliers Portfolio on the go with you, by scanning the QR code below or visiting portfolio.colliers.com

Welcoming New Arrivals

Featured Brokers

It was an incredible year for the commercial and industrial market in 2021 with the annual value of property sales hitting a record of $12 billion. This translated to record yields and land rates being achieved across all sectors.

The outlook for 2022 is strong. There’s a lot of talk about rising interest rates, and there’s no doubt we’re on our way out of the lowest interest rate environment we’ve experienced. However, based on any other medium- to long-term average, we remain in a low interest rate environment. There is no transactional evidence to support a softening of yields, and prime property is continuing to sell well. There is a lot of capital still looking to be deployed, and with current stock market volatility, commercial property will remain very popular.

There is a good volume of stock on the market at present, as evidenced by our first Portfolio publication. There are great opportunities for active, savvy investors to acquire properties now, given how competitive the market has been over the last few years.

Please find a premium collection of investments, development opportunities and owner-occupier properties across New Zealand within our latest Portfolio.

Gareth Fraser Auckland Director | Investment Sales

Colliers Portfolio

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Did you know?

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Contents

YHA Portfolio Key city and resort sites

Nine strategically located turnkey tourist assets available individually or in one line

9 locations, 410 rooms, up to 1320 pax

For Sale by Expressions of Interest closing at 4pm, Thursday 24 March 2022 (unless sold prior)

Front cover feature

Fully furnished with vacant possession

Available in one line or individual properties

Colliers present the opportunity to secure a unique portfolio of commercial accommodation assets in prime locations across New Zealand.

Comprising nine premises, the properties span key city and tourism destinations including Auckland, Rotorua, Wellington, Franz Josef, Aoraki Mt Cook, Tekapo, Wānaka, Queenstown and Te Anau. Available to purchase in one line or individually.

Featured News

Buyers line up for nine YHA hostels for sale in prime NZ tourism spots 10 Feb 2022

All the hostels are in prime locations, in Auckland, Rotorua, Wellington, Tekapo, Aoraki Mt Cook, Wānaka, Queenstown, Franz Josef and Te Anau.

“The YHA properties are garnering such interest because of their fabulous geographic spread. Even though our borders are currently closed, the interest we’ve had clearly signals that New Zealand is still highly regarded internationally as a tourist destination.”

Dean Humphries, Colliers’ National Director of Hotels and Tourism, says pent up leisure demand is forecast to see inbound tourism to New Zealand recover to pre Covid levels by circa 2024.

The properties can be bought individually or as one package.

Colliers Investment Director Hamish Doig, who is leading the sale on behalf of YHA, says there is already keen enquiry from prospective buyers internationally, together with Kiwi operators.

Hamish Doig +64 21 320 149 Barry Robertson +64 27 433 5941 Dean Humphries +64 21 408 156 Courtney Doig +64 21 991 251

“Overseas buyers know the calibre of these facilities and see it as a great opportunity to enter the New Zealand market while tourism operators here see the possibility of increasing their footprint by partnering with private equity to assist with funding.

To continue reading and find out more, scan the QR Code

colliers.co.nz/en-nz/properties#q=YHA

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The gradual reopening of New Zealand’s borders, announced last week, is set to heighten interest.

“Now that we have more clarity around when restrictions are ending, the consensus is that there will be a big bounce with international travellers wanting to come to New Zealand because it’s such a desirable destination.

Colliers Portfolio

Several overseas parties are already eyeing the nine YHA hostels that are being sold following their closure late last year because of financial woes as a result of Covid.

Boundary lines indicative only

6 Colliers Portfolio

For Sale Superb New Trev Terry Marine Service Centre Lots 3, 4, & 5, 89 Tauhara Road, Tauhara, Taupō For Sale by Price by Negotiation

3 separate titles

Net Rent pa. $295,000 +GST

New 6-year lease with two 5-year ROR

2 new buildings now under construction

Land Area 4,441m²

Floor Area 1,848m²

This superb industrial offering is located on one of Taupō’s busy arterial routes, just a 3-minute drive to SH1 and Taupō’s CBD. These 3 lots form part of a new ‘89 Tauhara Industrial Park’, which contains 5 freehold industrial properties and a commonly owned access lot. Lots 1 and 2 in the park have been sold. Tenants include CORE50 Consulting Engineers, Toll Networks NZ, Taupo Brake & Clutch and Taupo Construction 2021. Under construction on Lots 3, 4 & 5 are two new buildings for Trev Terry Marine Limited’s new marine service facility. The main building spanning lots 4 and 5 is a c.1,486m² workshop.

The second, on lot 3, is a c.363m² warehouse. Additionally, there will be c.2,600m² of lettable yard area.

Likely completion is August/September 2022. Settlement is on issue of Code of Compliance Certificate.

Hugh Milloy 021 901 390 colliers.co.nz/p-NZL67017832

7 Colliers Portfolio

Land Development Site 7,291m² Consented Development Site 54 Parkway Drive, Rosedale, Auckland For sale by Deadline Private Treaty closing at 4pm Wednesday 9th March 2022

7,291m² freehold title

Consented for 85 apartments + 2,169m² commercial

Consented for 141 car parks

Perfectly positioned adjacent to Constellation Park and Ride is this unbeatable development opportunity featuring an approved Resource Consent for 85 Apartments plus 2,169m2 of commercial floor area.

With dual access from Parkway and Sunset Road, the site is only metres from the Northern Motorway as well as SH18 heading to high growth areas such as Hobsonville, Westgate and Whenuapai. In addition to this, the site is centrally positioned and in close proximity to Takapuna, Albany and many desirable East Coast Bays’ beaches.

This is a unique opportunity that must be considered by all occupiers and developers in the market.

Contact either of the sole agents for further detail or to register your interest.

Shoneet Chand 021 400 765

Matt Prentice 021 464 904

colliers.co.nz/p-nzl67017430

Josh Coburn 021 990 691

8 Colliers Portfolio

For Sale High Energy Investment 200 Napier Road, Hilltop, Taupō For Sale by Deadline Private Treaty closing Wednesday 16th March 2022 at 4pm (unless sold prior)

Significant industrial land 7,068m²

Anchor national tenant

Future site development opportunity

Current net rental pa $414,130

High exposure site

This multi-tenanted industrial zoned property is underpinned by anchor tenant Z Energy who has benefitted from this location since 2013. With three supporting food tenants, it has fast become a destination for travellers and locals alike. The buildings were constructed in 2013 and 2015. With a current WALT of 9 years and excellent rental growth mechanisms, this investment should be on your list of “must own’s”. Located at the intersection of SH1 and SH5, bordering Mega Mitre 10 and, in the future, the proposed new supermarket development. Approximately 7,000 cars pass daily at the intersection (Source NZTA). This will continue to make this property a secure high energy investment. Some tenants are keen to discuss with the new owner(s) the further expansion of their existing premises.

Daniel Moffitt 021 423 580

Hugh Milloy 021 901 390

colliers.co.nz/p-NZL67018058

9 Colliers Portfolio

26 premium commercial spaces 6-8 Taylors Road, Morningside Priced from $630,000

Brand New Contemporary Units

Architectually designed & bespoke

Options 60m² to 141m² with car parks

Various configuration options available

Be part of an exclusive collection of beautiful office, retail and hospitality spaces in the heart of Morningside.

Options ranging from 60m² to 141m², priced from $630,000.

Sitting adjacent to bustling Kingsland and Grey Lynn villages, with Ponsonby less than 10 minutes drive away, the city fringe suburb of Morningside is experiencing a period of rapid development.

Early interest is strong - Act now and arrange a viewing of the showroom.

Jonathan Lynch 021 900 611

Matt Prentice 021 464 904

colliers.co.nz/p-nzl6701922

Land and Buildings For Sale 10

176, 186 & 206 Rodney Street, 23 & 31 Station Road, Wellsford For Sale by Deadline Private Treaty closing 4pm, 31st March 2022 (unless sold prior)

Colliers Portfolio

5 freehold titles

Circa 105m frontage to SH1

Split risk with 2 tenants

Nigel Ingham 021 562 919

Daniel Sloper 021 022 10339

colliers.co.nz/p-nzl67016356

FOR SALE Passive investment with long term lease to national tenant 3/166 Great South Road, Manurewa Auction to be held Wednesday, 30th of March 2022 at 11am

Returning $156,200 per annum +GST

Long-term lease with multiple ROR’s

Strong fixed rental growth with CPI + 1% annually

Ryan Gibb 021 826 421 colliers.co.nz/p-nzl67018095

Substantial capital invested with a brandnew fitout

Matthew Barnes 021 828 563

News

Ground-breaking Build-to-Rent sale in Grey Lynn 21 Feb 2022

Our Strategic Advisory and Investment Sales teams collaborated on behalf of Ockham to sell a substantial property in Auckland, which marks the first sale of a new building to a specialist Build-toRent (BTR) investor in New Zealand.

Resident Properties Limited paid $23.5 million for the building at 6 Nixon Street, Grey Lynn and the property consists of 32 apartments and one commercial space and is due for completion in late March. The building was sold vacant, and the purchaser will be seeking tenants prior to completion.

Alan McMahon, National Director of Strategic Advisory at Colliers, led the sales process alongside Auckland investment sales specialists Gareth Fraser and Jonathan Lynch.

McMahon says this transaction is a major step forward for the BTR market.

“This is the first sale of a BTR investment, but it won’t be the last. We know of significant investor demand across all price ranges and expect to see more sales like this one in 2022,” McMahon says.

“As well as providing a new investment asset class, BTR has the potential to provide thousands of new, quality dwellings in buildings wholly owned by professional, well-capitalised owners, who will typically provide a much better renting experience than tenants have been used to.”

The BTR sector is well-established in Europe, North America, and parts of Asia, and is growing fast in Australia.

McMahon says one of the difficulties facing BTR developers is finance, partly because there are no pre-sales, but this can be overcome by preselling the development to an investor who funds construction and settles on completion, with the building either vacant or leased.

“While there are no pre-sales, we’d suggest the risk is low compared to dwellings built to sell, as the rental market is huge.

“There are around 600,000 people renting in Auckland, and as long as the development is welllocated, designed and operated, and rents are set to market rates, there will be plenty of tenant demand.”

12 Colliers Portfolio

Taylors & Gordon Now selling 16 premium commercial spaces. Be part of an exclusive collection of beautiful office, retail and hospitality spaces in the heart of Morningside.

Details on page 9

Colliers Portfolio

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For Sale Supermarket, Super Investment 14

16-20 Ruataniwha Street, Waipukurau For Sale by Tender closing Wednesday, 23 March 2022, 4pm (unless sold prior) NBS

Colliers Portfolio

Current net rental $264,039 + GST

Calum Ironside 027 698 6996

Over 60 onsite car parks

4782m² freehold land

70% NBS

Ash Hames 021 0242 8523

https://properties.colliers.co.nz/16-20-ruataniwha-street-waipukurau

For Lease Design Builds Available For Lease Ahuriri Aeropark, Hawke’s Bay Airport, Napier For Lease

Commercial & industrial design builds

Calum Ironside 027 698 6996

Sustainable focus on all construction

Sites available from 2000m² plus

Rob Nankervis 027 228 5291

https://properties.colliers.co.nz/111-main-north-road-napier

Industrial Development Site

54-56 Ben Lomond Crescent, Pakuranga Heights For Sale by Deadline Private Treaty closing Wednesday 12 April 2022 at 4pm (unless sold prior)

111 May Road, Mount Roskill Deadline Private Treaty closing Wednesday 9 March 2022 (unless sold prior)

Returning $215,000 net p.a. + GST

Split risk investment

James Dickey 021 026 81093

Hamish West 021 882 737

Paul Higgins 021 549 226

Holding income

Redevelopment opportunity

Ned Gow 021 122 2731 Richard Kirke 021 299 3120

colliers.co.nz/p-nzl67017581

colliers.co.nz/p-nzl67018075

Boundary lines are indicative only

Prime location - Queenstown

Residential Development Land

Terrace Junction 1088-1092 Frankton Rd

153 Albany Highway, Unsworth Heights

For Sale by Deadline Treaty

For Sale by Deadline Private Treaty

closing 4pm 17th March 2022

2 Freehold Titles

8,752m² Land Area 6,175 m² Floor Area

Mark Simpson 027 490 6394

Hamish Doig 021 320 149

Rory O’Donnell 027 445 3982

Blair Peterken 021 421 426

colliers.co.nz/p-nzl67017649

closing 4.00pm Wed 6th April 2022 (unless sold prior) Scarce Property Holding

Z Prime location next to SH18

Blair Peterken 021 421 426

6,448m² site area

Zoned Residential THAB

Josh Coburn 021 990 691

colliers.co.nz/p-nzl67018066

Colliers Portfolio

Two titles total 1,893m²

5,915m² freehold site Dhiru Patel 021 340 780 James Dickey 021 026 8193

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Split Risk With Upside

BOUNDARY LINES INDICATIVE ONLY

Brand New Investments

Investment with Development Upside

169 Chapel Road, Flat Bush, Auckland Price By Negotiation

441 Lake Road, Takapuna, Auckland For Sale by Auction

16 Colliers Portfolio

Returning $83,447 + GST

9-year lease-term

Fixed rental growth

Ronal Prasad 021 232 1192

496m² freehold title

Returning $93,428 pa net

Matt Prentice 021 464 904

Long term tenant Government health provider

Mike Ryan 021 402 461

Steven Harris 021 187 8769

colliers.co.nz/p-NZL67017899

colliers.co.nz/p-nzl67018067

Last Piece of the Puzzle

Grow Your Dough

10 Margaret Williams Drive, Papakura For Sale by Deadline Private Treaty closing 4pm, Wed 23 March 2022 (unless sold prior)

212A Burswood Drive, East Tāmaki Auction to be held 11am Tue 8 March 2022 (unless sold prior)

Land size of 36,540sqm

Buildings approx.

10,000sqm

Develop, invest or occupy

Longstanding bakery tenant

Greg Goldfinch 021 537 682

Paul Higgins 021 549 226

Ben Cockram 021 245 5855

Josh Franklin 021 990 714

James Dickey 021 026 81093

Matt Prentice 021 464 904

colliers.co.nz/p-nzl67017921

Returning $75,000 net p.a. + GST

New 4 year lease term

colliers.co.nz/p-nzl67017753

Land and Business Opportunity

Priced to Sell at $1,100,000 (8% return)

Land and Business Opportunity

Wednesday 30 March 2022 at 4pm (unless sold prior)

m m

Land Area

Revenue

Split Risk

Business Opportunity

3,345 sqm Future Land Area Development Site

Holding Income of Revenue $393,306 p.a. + GST

Investment with 6 Split Risk tenancies

Opportunity to buy Business Opportunity supermarket business

3,345 sqm Future Development Site

Holding Income of $393,306 p.a. + GST

Investment with 6 tenancies

Opportunity to buy supermarket business

Ned Gow Gawan Bakshi Gareth Fraser 021 122 2731 021 31 31 48 021 242 6779 Ned Gow Gawan Bakshi Gareth Fraser 021 122 2731 021 31 31 48 021 242 6779 colliers.co.nz/p-nzl67017713

73 Peel Street, Gisborne Sale method: Priced 17

949 New North Road, Mt Albert UNRIVALLED MOUNT ALBERT HOLDING For Sale by Expressions of Interest closing on 949 New North Road, Mtat Albert Wednesday 30 March 2022 4pm (unless sold prior) For Sale by Expressions of Interest closing on

NBS

80% NBS

Two onsite car parks

Fully occupied

Jack Elliott 021 876 765 jack.elliott@colliers.com

colliers.co.nz/p-nzl67017713

colliers.co.nz/p-NZL67016491

Little Ripper on Rennie

Strategic holding with 18 year lease

32 Rennie Drive, Airport Auction to be held Wednesday 16 March 2022 at 11am (unless sold prior)

61 Elliot Street, New Plymouth

Returning $96,000 p.a. + GST Tom Peterson 021 186 4483

1,500m² freehold site

778m² net lettable area

Brad Johnston Paul Jarvie 021 409 553 021 337 419

colliers.co.nz/p-nzl67017653

For Sale by Deadline Private Treaty closing Wed 23 March 2022 (unless sold prior)

Strategic CBD holding

Combined site Net rental: area of 3612sqm $220,0000 + GST

Benet Carroll 021 0289 4537

colliers.co.nz/p-NZL67017808

Colliers Portfolio

UNRIVALLED MOUNT ALBERT HOLDING

Freehold Profile on Broadway

Unrivaled Mount Albert Holding

1a Edgerley Avenue, Newmarket For Sale by Tender closing 23 March 2022 at 4pm

949 New North Road, Mount Albert For Sale by EOI closing 30 March 2022 at 4pm

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m

Colliers Portfolio

Fee Simple 611m2 site

Expansive 22m road frontage on Broadway

Business Mixed Use Zoning

Varied height controls from 12 – 24m

Land Area

Revenue

Split Risk

Business Opportunity

3,345 sqm Future Development Site

Holding Income of $393,306 p.a. + GST

Investment with 6 tenancies

Opportunity to buy supermarket business

Gareth Fraser 021 242 6779

Jonathan Lynch 021 900 611

Ned Gow 021 122 2731

David Burley 021 478 225

Gawan Bakshi 021 31 31 48

colliers.co.nz/p-nzl67017949

colliers.co.nz/p-nzl67017949

Boundary lines are indicative only

THAB Corner Site to Suit All

Consented Northcote Site with Panoramic Views

82 & 92 Raleigh Road, Northcote For Sale by DPT closing 30 March 2022 at 4pm

5,086m2 site split over 2 titles

Resource Consent in place for 24 luxury townhouses

Ned Gow 021 122 2731 Jack Tuson 027 448 118

Unbeatable panoramic views across Auckland

10 minute drive to Auckland CBD

Matt Prentice 021 464 904

colliers.co.nz/p-nzl67017927

693 Hillsborough Road, Mount Roskill For Sale by Auction on 23 March 2022 at 11am (unless sold prior)

Generous 980m2 corner site in a prime Mount Roskill position

THAB zoned allowing build intensity

Favourable contour and access to infrastructure for developers

Ned Gow 021 122 2731 Gawan Bakshi 021 31 31 48

colliers.co.nz/p-nzl67018048

Welcoming New Arrivals Rijak Bakshi Broker | Investment Sales

Auckland South

James Valentine Commercial Broker | Sales and Leasing

Queenstown

M: +64 21 777 772 James started out working in the award-winning South Auckland office for 2 years prior to moving to Queenstown to focus on the industrial property market. He now specialises in the sales and leasing of industrial property across Queenstown and the wider Central Otago region.

Nicholas Soh Project Sales Consultant | Residential Sales

Auckland CBD

M: +64 20 4130 6051 Nicholas comes from a family business background and studied at the University of Auckland, graduating with a BA in Psychology. He has been selling real estate since 2020, selling down multiple sites in South Auckland for Kainga Ora amongst others.

Paddy McKenzie Broker | Industrial Sales and Leasing

Auckland South

M: +64 21 055 6149 Paddy is a recent addition to the Colliers South Auckland Industrial team following three years in the Colliers North Shore Office where he was instrumental in the success of the team.

Colliers Portfolio

Rijak is in the South Auckland Investment Sales and Leasing team, with a focus on the south-west area. With seven years in the aviation industry prior to Colliers, Rijak has extensive experience in fast-paced and everchanging environments.

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M: +64 21 31 31 81

New Zealand Research Report February 2022 4 Feb 2022

Commercial and Industrial sales hit new record Heightened investment activity looks set to propel the total annual value of commercial and industrial property sales in New Zealand past $12 billion for the first time This reflects the impact on value and the significant yield compression that has occurred over the past few years.

in upward pressure being applied to rents across a majority of the country’s major industrial precincts.

Confidence in the sector is clearly illustrated by results from Colliers’ latest investor sentiment survey, which shows the sector generating a net positive (optimists minus pessimists) rating of just under 69% the highest recorded since the inception of the survey

20 Colliers Portfolio

The final tallies will be confirmed over the next few months due to lags in official reporting, but the industrial, office, and retail sectors experienced a surge in investor demand in 2021 spurred on by positive economic and financial conditions that supported occupier fundamentals and transactional decision making.

Whilesafe haven assets, particularly prime grade industrial, supermarket, DIY and other large format retail premises, have continued to attract the highest levels of investor interest, improving sentiment has seen competition emerge for a broadening range of assets.

Office riding out the storm The office sector is likely to account for around 20% of 2021’s commercial and industrial sales based on sales evidence and 20 years of sales trends The scale and higher value of office premises, particularly in main CBD markets, means that the number of transactions within the sector lags behind that of the industrial and retail sectors, accounting for approximately 12% of total transactions, but generating 18% of total sales values.

Industrial leads the way The industrial sector generated approximately 50% of sales activity and total sales value over the year with the final sales count poised to exceed 2,500 and the total sales values to top $6 billion with sales in Auckland making up in excess of 50%.

The appeal of the sector has been bolstered by a further strengthening of market fundamentals over the year Occupier demand has increased, driven by growth across multiple sectors, while the ability to increase new supply remains constrained The combination of these factors has seen vacancy rates fall to historically low levels resulting

Despite Covid 19 influenced changes to work practices and greater adoption of hybrid working models, investors continue to view the office sector positively Prime grade assets are the focus, and the lack of stock available to purchase is generating high levels of competition, from local and offshore sources The quest for quality is likely to strengthen further over 2022 influenced by issues such as culture, the ‘Great Resignation’ and the growing emphasis on ESG which will see businesses commit to higher quality and sustainability driven office space to entice people back to the office in a high employment environment.

Retail rebounding The total value of sales reported to date in 2021 sits just above $2.3 billion, exceeding both the $1.9 billion recorded in 2020 and 2019 ’s total of $2.1 billion. Over the year to June 2021 the retail sector

The recalibration in retail asset pricing for shopping centres and other strip retail premises that occurred in 2020 and 2021 has already started to attract a new wave of investor enquiry. The overall outlook of a more open border economy will also assist in shifting sentiment more positively across the retail sector.

The commercial and industrial property markets will be subjected to a range of changing influences in 2022 which will bring both challenges and opportunities to investors Stimulatory monetary policies have proved successful in supporting the economy during the COVID 19 pandemic but have, in concert with other influences such as supply chain disruption, resulted in a surge in inflation. In response, the Reserve Bank has increased interest rates and signalled that further increases will follow over the course of the year. Banks are also tightening lending criteria which may make accessing funds more challenging However, significant levels of equity have been generated by local and offshore groups, which will be attracted to the income generating, inflation hedging nature of property.

Despite these challenges and the increasing likelihood of the slowdown in the cycle of yield firming over the short-term, market activity in 2022 is likely to remain solid. There are a number of significant factors that continue to underpin both occupier and investor demand for commercial and industrial property While interest rates are rising, they are doing so from historic lows and remain well below long term average levels New Zealand’s economy continues to perform strongly with GDP rebounding and unemployment falling.

Auckland assets remain in high demand Transactional activity was led by the Auckland market which, in line with longer term trends, accounted for approximately one third of the total sales count and half of total sales value over the year The Canterbury region made the second largest contribution to sales turnover accounting for just over 13% of transactions followed

by Waikato which generated approximately 12% of total sales activity.

The Bay of Plenty has cemented its position as one of the country’s favoured investment destinations The region generated just over 8% of the nation’s sales by value in 2021 well up on its long term average 1989 to present) of around 5% This lift reflects the rapid growth that the region is experiencing which has brought with it the development of large scale assets The Wellington market generated approximately 7.5% of total sales value with office assets leading the way. Over $300 million of office premises sold over 2021 a figure which trails only that of Auckland Vacancy rates in the capital continue to remain low, and the ongoing issue of a lack of high quality, earthquake resilient premises remain key drivers.

High vaccination rates are facilitating changes to the national response to COVID 19 with large scale lockdowns already phased out and major easing of border restrictions signalled for the second half of the year These moves will see a return to more normal trading conditions. The easing of border restrictions will enable overseas entities to transact more easily releasing pent up demand for New Zealand assets.

Source: CoreLogic, Colliers Research

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Investor activity over 2020 and 2021 and record pricing has been heavily weighted towards the supermarket, DIY, service stations and other large format retail sub sectors reflecting their high levels of resilience during the COVID-19 pandemic and high levels of consumer spending activity that has underpinned occupier demand.

Market influences evolving

Colliers Portfolio

accounted for approximately 25% of investment sales by volume which was little changed from the year prior.

Featured Brokers Dan Moffitt

Hugh Milloy

Sales Manager | Taupō

Broker | Taupō

M: 021 423 580 dan.moffitt@colliers.com

M: 021 901 390 hugh.milloy@colliers.com

22 Colliers Portfolio

Daniel joined the Colliers Central Commercial team in 2021. He specialises in both commercial and industrial sales and leasing as well as rural and agribusiness sales. Client satisfaction is Daniel’s number one goal, and this is exemplified by the strong loyalty, referrals and repeat business shown by his customer base. Having been brought up on a deer farm in the Tararua district, Daniel has a strong affiliation with land and more recently helping his father with their small sheep and beef operation in the Manawatū.

Qualified with a Bachelor of Commerce degree from Victoria University, Hugh became interested in commercial real estate and joined Colliers to specialise in the commercial and industrial market.

Driven to achieve the best possible results for his vendors he will provide a completely professional, effective and stress-free real estate experience.

Hamish Doig

Dean Humphries

Managing Director | Sales Christchurch

National Director | Hotels Auckland CBD

M: 021 320 149 hamish.doig@colliers.com

M: 021 408 156 dean.humphries@colliers.com

Hamish is Managing Director of Colliers in Christchurch. He is regarded as one of the most influential and well-connected investment brokers in the South Island and one of the most successful in New Zealand. Hamish is a trusted advisor to his many high-profile clients, proactively building value into their portfolios by identifying investment opportunities.

Dean is a highly respected hotel investment advisor specialising in the disposal, acquisition and valuation of hospitality and tourism assets. Dean joined Colliers in May 2013 as National Director, Hotels for New Zealand and the South Pacific.

Barry Robertson

Jonathan Lynch

Development & Business Broker | Queenstown

Associate Director | Investment Sales

M: 0274 335 941 barry.robertson@colliers.com One of Queenstown’s most experienced property professionals, Barry Robertson’s career spans more than four decades. His knowledge and insight cover a wealth of markets and economic scenarios, allowing him to deliver to clients an unrivalled understanding of market dynamics.

M: 021 900 611 jonathan.lynch@colliers.com Senior expert in Commercial Property Sales and Leasing in central and city fringe Auckland. Jonathan has completed over $500 million+ sales transactions over the previous 9 years since joining in early 2010 with a focus on investment properties, mixed-use developments, redevelopment sites comprising under-utilised improvements, land sales and office, retail and warehouse leasing.

Featured Brokers Josh Coburn Director | Site Sales Auckland West

Matt Prentice Director | Investment Sales North Shore M: 021 464 904 matt.prentice@colliers.com Matt joined Colliers in 2006 & for the past 6 years has been a Director of the Industry Sales and Leasing team, with a focus on mid to upper end industrial sales and leasing transactions. He is considered a trusted source & wealth of knowledge to both vendors & purchasers, with over 15 years in the industry and hundreds of transactions completed.

Shoneet Chand Director | Investment Sales North Shore M: 021 400 765 shoneet.chand@colliers.com Shoneet has been involved in selling investment property for over 13 years and since 2015 he has been a Director in the Investment Sales Team at Colliers, specialising in Investment & Development Sales across the wider Auckland region.

Colliers Portfolio

Tenacious, personable and driven, Josh Coburn draws on 16 years’ experience in New Zealand’s property sector in his role as Director of Site Sales at Colliers. His key focus and passion are delivering quality development opportunities to the market and acting as a partner in the development process to see projects come to fruition.

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M: 021 990 691 josh.coburn@colliers.com

Licensed REAA 2008 HSBC Tower, Level 23 188 Quay Street Auckland 1010 portfolio.colliers.co.nz

This document has been prepared by Colliers New Zealand for advertising and general information only. Colliers New Zealand does not guarantee, warrant or represent that the information contained in this document is correct.

February 2022