Colliers Portfolio | Issue 3 2023

Licensed REAA 2008

Colliers Portfolio Issue 3

54 Stonedon Drive, East Tāmaki, Auckland More on page 12

Accelerating success.

Jun/Jul

2023

Recent Deals LEASED

LEASED

LEASED

2 Colliers Portfolio

24 Hannigan Drive, Saint Johns, Auckland Leased by James Dickey, Ben Cockram, and Mike van der Putten

LEASED

7 Bill Stevenson Drive, Drury Auckland Leased by Josh Franklin and James Dickey

SOLD

18 Margaret Place, Queenstown Sold by James Valentine

126 Portage Road, Ōtāhuhu Auckland Leased by Paul Jarvie, Brad Johnston, Ben Herlihy, and Dhiru Patel

SOLD

3 Ikahara Street, Paraparaumu Sold by Dean Anderson

LEASED

Shop 3, 27 Rees Street, Queenstown Leased by Mary-Jo Hudson

83B Boundary Road, Papakura Auckland Leased by Josh Franklin, Mitch Broderson, Shoneet Chand and Matt Prentice

SOLD

835 Frankton Road, Queenstown Sold by Rory O'Donnell and Mark Simpson

Contents Colliers Portfolio Issue 3 04

09

Premium Listings

Countdown Orewa - The ultimate passive investment

11

12

13

15

New Zealand Research Report | June 2023

Colliers rebrands Corporate Solutions to Occupier Services

East Tāmaki at its best

Welcome to the third edition of Colliers Portfolio for 2023.

As we move into the second half of the year, some clear trends are emerging in the commercial property market across New Zealand.

There has been strong activity throughout the country with a particular uptick in the regions and the South Island.

This activity has been underpinned by the investor market returning to life with our recent campaigns generating increased interest, which has led to a larger number of offers and buyers than we saw in the earlier stages of the year.

Yields are settling across the asset classes and reflect a balance between the desire to acquire and acknowledgment of funding costs, as prospective purchasers continue to navigate a challenging interest rate environment alongside their appetite for risk.

Vendor expectations have moved to meet the market, which is resulting in increased sales volumes and adds to an improving market sentiment.

Our latest edition of Portfolio features listings from across the commercial property spectrum, including a Countdown in northern Auckland, a large-scale retail building that is tenanted by The Warehouse in Tauranga, and industrial offerings in Hawke’s Bay, among many others.

Thank you for your continued interest in Colliers Portfolio, our national sales team has an outstanding range of investment opportunities available and looks forward to hearing from you.

David Burley Auckland Director | Investment Sales

Colliers Portfolio

3

Key Listings

4 Colliers Portfolio

Investment Opportunity Napier Industrial Investment 22 Dunlop Road, Napier

Tender closing Tuesday 25 July 2023 at 5pm Unless sold prior

Zoned Main Industrial

2,268m² NLA

3,573m² freehold land

Built in rental growth

Strong tenant covenant

Available for sale now is 22 Dunlop Road, Onekawa, Napier. The property comprises a total of 2,268m² net lettable floor area, predominantly made up of 1,211m² workshop, 692m² canopy and 130m² office/ amenities. The buildings are situated in the heart of Napier industrial and sit on 3,573m² freehold land, with multiple access points off Taradale Road and Dunlop Road.

RSM Engineering Limited are committing to a new 5 year lease at a net rental of $222,050 plus GST per annum from settlement.

Calum Ironside 027 698 6996 colliers.co.nz/p-NZL67023925

News

22 Dunlop Road, Onekawa has 2,268sq m of total net lettable area on a 3,573sq m freehold site that offers dual road access and is zoned Main Industrial under the Napier City Operative District Plan.

The property is home to Reinforcing Steel & Mesh Limited who are committing to a new five-year lease at a net rental of $222,050 plus GST per annum from settlement.

The strategic location provides convenience for the occupants with the Napier Port and Hawke’s Bay Airport both within 6km, while the Napier CBD is approximately 4km away.

Onekawa continues to experience strong demand among industrial tenants with vacancy rates sitting around 1 to 2 per cent. An increase in the supply of quality industrial stock is unlikely in the short to medium-term, putting further pressure on demand.

Calum Ironside, Industrial and Commercial Sales Broker at Colliers Hawke’s Bay, has been exclusively appointed to market the property for sale via tender, closing at 5pm on Tuesday 25 July, unless sold prior.

The property comprises an industrial warehouse that was built in the 1960s and has a main workshop that measures 1,211sq m with a further 183sq m lean-to addition, alongside a 52sq m staff amenities annex.

The associated administration office spans 130sq m and has a 37sq m veranda, while there is also a heavy-duty canopy measuring 692sq m that was added in the early 2000s.

Ironside says the opportunity to acquire an industrial property with a longstanding occupant will be highly appealing for buyers.

“The current tenants have signalled their intent by agreeing to a new five-year lease that also includes two further rights of renewal for five years each,” Ironside says.

“The lease agreement has favourable terms built in, including 3.5 per cent annual increases and market reviews on renewal. These combined factors make this an enticing investment that would be a strong addition to any portfolio.”

The property sits between Taradale Road and Dunlop Road and is surrounded by a range of notable brands such as Vulcan Steel, Tile Depot, and Mitre 10 Mega. There is also a Kmart less than 1km away.

Taradale Road offers excellent connectivity to State Highway 2 opening up the rest of the Hawke’s Bay area and beyond.

“The current premises provides high levels of usability for the existing occupants for their business operations due to the easy access from the street and the generous yard space.

“The nearby area remains keenly sought by industrial businesses given the accessibility to the motorway network and Hawke’s Bay’s transport infrastructure.”

Ironside says when examining all of the pertinent factors in play, this property shapes as an outstanding passive investment opportunity with long-term upside.

“With favourable lease terms and an established occupant in place, this offering has strong underlying investment fundamentals and will pique the interest of discerning buyers.

“I encourage all interested parties to make contact with me immediately to ensure they don’t miss out on this compelling purchasing opportunity.”

Colliers Portfolio

The land and buildings of a highly functional property that is home to an established tenant in Napier’s industrial hub of Onekawa offers prospective purchasers the opportunity to acquire an asset with a strong tenant covenant.

5

Napier industrial property with long-term tenant

6 Colliers Portfolio

Split Risk Investment NZX Listed Anchor Tenant 96 Anderson Road, Whakatu, Hastings For Sale by Deadline Private Treaty closing Thu 27 July at 4pm (unless sold prior)

Land area: 12,490m²

Floor area: 2,885m²

$425,283 net pa + GST

Growth opportunity

Extensive onsite parking

Strategic location

Located in the major satellite industrial area of Whakatu, Hastings, approximately 8 kilometres east of the Hastings City Central Business District, this property provides a unique investment opportunity for those looking to expand their portfolio.

The building provides a split risk investment, with a net rental return of $425,283 per annum + GST. In addition, there is an opportunity to develop the site further with approximately 1,700m² of vacant land available. The mix of buildings accommodates a variety of businesses, and has the potential to be adapted to a wide range of uses. The adjacent land provides endless possibilities for expansion and development, making this a fantastic investment opportunity.

Danny Blair 021 826 496 colliers.co.nz/p-NZL67024213

News

96 Anderson Road, Whakatu is home to multiple buildings with a total floor area of 2,885sq m on a 12,490sq m site.

There is approximately 1,700sq m of vacant land, which could be developed in the future.

Anchored by the offices of the country’s largest apple producer Mr Apple, who are owned by NZX-listed entity the Scales Corporation, the diverse tenancy mix offers a premium split-risk investment opportunity and provides a combined annual net rental income of $425,283 plus GST. The site also houses the only cafe in the area.

Whakatu is a satellite settlement located by State Highway 2, approximately 7km north-east of Hastings and 14km south of Napier.

Within the Whakatu locality there are a number of packhouses, heavy industrial activities, and fruit storage facilities, which are a key part of the Hastings District’s growing economy that saw a 3 per cent increase in GDP for the year to March 2023, according to data from Infometrics.

The subject property can be accessed from both Anderson Road and Station Road and boasts a remarkable profile with over 110m of frontage onto Anderson Road.

Colliers Hawke’s Bay Director Danny Blair has been exclusively appointed to market the property for sale via deadline private treaty closing at 4pm on Thursday 27 July, unless sold prior.

Blair says the main office building at the property spans 2,524sq m and was constructed in the 1960s.

“Since 2013, major refurbishment work began on the eastern half, and the western side was also upgraded. As part of the refurbishments in 2017, the eastern wing was extended to include a new entry and reception area,” Blair says.

“The building is internally partitioned offering a combination of both open plan and partitioned offices for a range of tenants with Mr Apple occupying 1,251sq m of space on a lease agreement that runs until November 2024 and includes three rights of renewal for five years each.

They also have access to 60 on-site car parks.”

Sitting prominently on the site, the Whakatu Fire Station was originally built around 1970 and has since been repurposed into a bakery that features a commercial kitchen, as well as both indoor and outdoor dining areas.

The total floor area, including the covered entrance, spans 247sq m and the current occupants, trading as the Fire Station Cafe, began a six-year and three-month lease in March 2017 with two further rights of renewal for three years each.

The property also includes a former bowls clubrooms and this single-level building was originally constructed in the 1960s, but has since been repurposed into an office, storage, and workshop facility.

Thornhill Contracting, Fruition Horticulture, Par Communications, and The Drug Detection Agency Whakatu, Hawke’s Bay are among the office occupants at the property with lease agreements that all include further rights of renewal and future rent reviews.

There are two storage sheds measuring 30sq m and 20sq m, respectively, while a handful of industrial occupants have rolling monthly leases at the property.

Blair says on top of the steady rental stream provided by the split-risk tenancy mix, the future value of the property could be enhanced with a strategic development on the vacant land.

“Given the functionality of the site and the available space, the new owner of the property can further intensify its usage and unlock the true potential.

“With multiple entrances, the site is highly accessible for occupants and will lend itself to a wide variety of uses.”

Colliers Portfolio

A prominent office and industrial property on a corner site that includes a significant parcel of development land in Whakatu near Hastings is being presented to the market for sale.

7

Highly visible Hastings property with future potential

8 Colliers Portfolio

Countdown Orewa - The ultimate passive investment Featuring an ASX and NZX-listed tenant covenant on a new long-term lease, Countdown Orewa really is the perfect bottom drawer, passive investment.

Details on page 10

Colliers Portfolio

9

The Ultimate Passive Investment Countdown Orewa 3 Moenui Avenue, Orewa, Auckland

For Sale by Deadline Private Treaty closing Wed 2 August 2023 at 4pm (unless sold prior) 10 Colliers Portfolio

Returning $1,241,392 pa net + GST

10 Year Lease from April 2021 + ROR’s

9,380m² Total Land Area

Shoneet Chand 021 400 765

Town Centre Zoned Land

ASX & NZX Listed Tenant Covenant

Extensively refurbished in 2014

Matt Prentice 021 464 904

colliers.co.nz/p-nzl67024385

Strategic Commercial Asset - Prime Location The Warehouse, Tauranga 483 Cameron Road, Tauranga

For Sale by Deadline Private Treaty closing Thu 20 July 2023 at 4pm (unless sold prior)

Lettable area 5,051m² (est)

Rental $961,032.80

Peter Herdson 021654323

6,293m² freehold land

100% NBS

Rachel Emerson 021 502 877

colliers.co.nz/p-NZL67024347

220+ carparks

Corner profile Cameron Road

Boundary Lines Indicative Only

For Sale by Deadline Private Treaty closing on Wednesday, 19 July 2023 at 4pm (unless sold prior)

Unit 6, 59 Porana Road, Wairau Valley Auction, 11am Thu, 27 July 2023 (unless sold prior) 11

319 Neilson Street, Onehunga

151m² Unit + 4 Carparks Rental upside in the future Ben Cockram 021 245 5855

Split-risk with multiple options

5 individual titles on 3,525m² of land

Matt Prentice 021 464 904

colliers.co.nz/p-nzl67024225

Dual Roller Door Access

Vacant Possession

Matt Prentice 021 464 904 Shoneet Chand 021 400 765

colliers.co.nz/p-nzl67024324

For Lease Unbeatable Industrial

Large Scale Industrial Facility

12 Newlands Road & 6 Hurring Place, Wellington

31 El Prado Drive, Kelvin Grove,

Tender closing Wednesday 12 July 2023 at 4pm (will not be sold prior)

Blue chip tenants

Net leases

Buy one or buy both

Tim Julian 021 488 029

Richard Findlay 021 620 188

Kieran Lennon 021 137 1472

Hamish Templeton 029 127 0018

colliers.co.nz/p-nzl67023902

Palmerston North, Manawatu / Wanganui

Approximate floor area of 27,358 m²

Seismic status of100% NBS

Potential to divide space into multiple tenancies

Phil Nevill 021 396 092

Doug Russell 027 222 8088

Grant Lloyd 021 433 144

colliers.co.nz/p-nzl67024325

Colliers Portfolio

Diversified Investment With Upside

Ultimate Tradies Workshop

Boundary lines are indicative only

Once in a Lifetime 54 Stonedon Drive, East Tāmaki, Auckland For Sale by Deadline Private Treaty, offers closing 4pm, Wednesday, 19 July 2023 (unless sold prior) 12 Colliers Portfolio

New 8 year lease

Ben Cockram 021 245 5855

1,666m² net lettable area

Close to motorways and amenities

Josh Franklin 021 990 714

Attractive terms for an investor

Total land of 2,980m²

Premium quality construction

Paul Higgins 021 549 226

colliers.co.nz/p-nzl67024224 News

East Tāmaki at its best A modern first-class property with a new eight-year lease to a longstanding tenant in the prime industrial location of East Tāmaki shapes as one of the best available offerings in Auckland in this low-risk asset class.

The property is strategically located only 350m from East Tāmaki’s central intersection on Highbrook Drive that leads to State Highway 1, which is approximately 3km away.

54 Stonedon Drive, East Tāmaki has 1,666sq m of total net lettable area on a 2,980sq m freehold site and will interest buyers who understand the criteria of what makes a quality industrial building.

Colliers Directors Josh Franklin, Ben Cockram, and Paul Higgins have been exclusively appointed to market the property for sale via deadline private treaty closing at 4pm on Wednesday 19 July, unless sold prior.

The property provides 60 per cent site coverage and sits on the doorstep to Highbrook Business Park and State Highway 1 on-ramps.

Originally constructed by Euroclass for Waterware in 2005, the property comprises a warehouse that spans 1,354sq m with a stud height ranging from 7.5m rising to 9.1m at the apex.

Waterware, the longstanding occupant, have agreed to a new eight-year lease that will begin on settlement.

The lease returns $320,000 plus GST per annum in net annual rental income and includes two further rights of renewal for four years each, providing a strong underlying tenant covenant from an occupant that has been on-site since 2005.

The building is the ultimate in functionality and includes a fully fenced yard with excellent access and provides further peace of mind for investors with a 100 per cent A-grade earthquake rating.

The yard provides room for containers and truck turning, with access to the warehouse provided via two canopy protected roller doors.

The immaculately presented single-level office measures 198sq m and includes recent fit-out upgrades. The owners have also invested in a new ventilation system and solar panels for improved efficiency.

colliers.co.nz/en-nz/real-estate-news/east-tamaki-at-its-best

Research

13

New Zealand Research Report | June 2023

The return of inflation ends the period of low interest rates The GFC that began in 2008 prompted central banks in Western economies to slash interest rates as a means to bolster their struggling economies. Over the following years, economic performance gradually improved, but interest rates remained at historically low levels.

In contrast, the RBNZ asserts that inflation has already peaked and will continue to ease. Although government New Zealand First to Start, First to Finish? investment predicted grow, overall policy The RBNZ took swift andis aggressive action asto New Zealandthe was amongst thefiscal countries to combat rising increasing interest rates.

Starting from the Covid-19 induced emergency level of that 0.25%, rates were is by expected to be contractionary.

The RBNZ believes lifted in October 2021, and at each of the subsequent 11 Monetary Policy announcements. demand in indicated the economy is OCR softening, citing a the slowdown However, the RBNZ has that the current rate of 5.5% will likely be peak of this cycle, and they anticipate initiating rate cutsspending in the third quarter of 2024. announcement surprised experts who expected the in consumer and an This easing of residential recent surge in migration to fuel demand, contribute to and require further rate hikes. construction activity. Furthermore, they foresee migration In contrast, the RBNZ asserts that has already peaked and will continue to ease. Although government investment is predicted to grow, returning the overall policy is expected to be contractionary.

Thethe RBNZ believes that levels gradually to pre-Covid-19 trends in demand in the economy is softening, citing a slowdown in consumer spending and an easing of residential coming quarters. construction activity.

Furthermore, they foresee migration levels gradually returning to pre-Covid-19 trends in the

Colliers Portfolio

Having raised the cash rate at the most aggressive pace in its history, the Reserve Bank of New Zealand (RBNZ) recently signalled it has reached the top of the cycle. This will encourage the view that property yields have also reached their cyclical peak. Further movement, albeit limited, may be expected over the short-term.

recent surge in migration to fuel demand, contribute to inflation, and require further rate hikes.

coming quarters.

RBNZ OCR Hiking Cycles Since Inception Aug-21 to May-23 Jan-02 to Jul-02

Jan-14 to Jul-14 Sep-99 to May-02

Dec-03 to Jul-07 6 5

However, when the Covid-19 pandemic hit, governments and central banks around the world swiftly implemented emergency measures to support their economies. One of these measures included aggressive interest rate cuts, driving them to record lows in numerous nations.

4 3

Percentage Points

What now for yields as peak in OCR is signalled

2 1

0 As economies cautiously reopened, a new challenge 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 emerged: surging inflation. This inflationary trend has been Number of RBNZ Annoucements Note: Increase from base rate Source: RBNZ, Colliers Research attributed to various factors, such as disruptions in global Property erty Values to Stabilise After Wild Ride supply chains, shortages of essential workers, and a surge Property owners will welcome the Reserve Bank’s signal that the (OCR) has reached its peak, considering the in consumer spending coined as ‘revenge spending’. impact that the rapidly rising rates have had on capital values. Over the period from early 2020 to late 2021, the value of assets, including commercial and industrial properties, surged primarily fueled by historically Property values to stabilise after wild ride low borrowing costs.

Consequently, central banks found themselves compelled The subsequent rapid increase in the OCR, however, has led to higher costs, causing a recalibration of to increase interest rates. This move aimed to curb yields Property resulting in a partial reversal of the capital gains previously generated. Bank’s signal owners will welcome the Reserve excessive demand within the economy and work towards The best illustration of the movement in yields is provided by the Auckland industrial market, that the (OCR) has reached its peak, considering the given the relatively high number of sales. In December 2019, average yields for Auckland industrial properties stood at 5.3%, falling, restoring inflation to target levels set by policymakers. impact that the rapidly had by thesignificant end of 2021, to 4.1%.

By March 2023, however averagerising yields hadrates risen tohave 5.6%. While yield movement variedon across sectors and locations, the overallthe trendperiod remained consistent. capital values.

Over from early 2020 to New Zealand first to start, first to finish?

Data released

by MSCI the reveals the impact this cycle on property values.

Average annual capital late 2021, value of ofassets, including commercial and gains for all commercial and industrial properties peaked at 14.5% in the year ending September 2021. However, over the industrial properties, primarily fueled by historically year to March 2023, average capital values surged declined by 6.3%.

The RBNZ took swift and aggressive action as New Zealand Value low borrowing variations across sectorscosts. also depend on rental trends, which mirror current demand dynamics. In this was amongst the first countries to combat rising inflation respect the industrial property sector has been the strongest performer, with an extended period of tight market conditions resulting in rental growth over the past two years. This growth has mitigated the impact of by increasing interest rates. Starting from the Covid-19 rising The yields on property values. rapid increase in the OCR, however, has subsequent induced emergency level of 0.25%, rates were lifted in led to higher financing costs, causing a recalibration of October 2021, and at each of the subsequent 11 Monetary yields resulting in a partial reversal of the capital gains Policy announcements.

New Zealand Research Report | May 2023 | Colliers Research 2 previously generated.

However, the RBNZ has indicated that the current OCR rate of 5.5% will likely be the peak of this cycle, and they anticipate initiating rate cuts in the third quarter of 2024.

This announcement surprised experts who expected the

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

Research

Northland Region Colliers NORTHLAND REGION Essentials 1H 2023 | 1H 2023 COLLIERS|ESSENTIALS 14 rime rents

Prime yields

$285

$420

5.8%

6.8%

$120

$150

5.0%

5.8%

$330

5.3%

6.3%

Industrial

year to March 2023, building consent issuance approved the construction of 41,000 sqm of new commercial and The development sector has remained despite with the active industrial sector accounting industrial for approximately 49% of alleconomy. consents issued. increases in interest rates and a cooling In the Major infrastructure projects will issuance the regional economy, year to March 2023, building consent approved including the stage one of the new regional the construction of 41,000sq m of new commercial and hospital with a budget of $759 million. Northport is industrial floorspace, with sector expansion of accounting its operation to proposing a the industrial for approximately 49 the perdevelopment cent of all of consents issued. container include a modern, terminal,projects covering approximately 13 hectares.

The terminal Major infrastructure will benefit the regional would the link directly to KiwiRail’s proposed Marsden economy, including confirmed stage one of the new Point spur.

Prime warehouse rents

Retail $220

regional hospital with a budget of $759 million. Northport shortage expansion of industrial of leasing options has is proposing a Asignificant its operation to pushed warehouse rental values up to an average of $135 per sqm include the development of a modern, efficient container in Q1 2023, from $130 in Q4 2022. Retail rents have terminal, covering approximately 13ha. The remained stable but incentives have terminal increased, particularly in secondary locations, whereMarsden vacancy Point rates have would link directly to KiwiRail’s proposed increased. In the sector, the to quality has seen spur.

Building consents Commercial & Industrial

Residential

upward pressure applied to prime grade rentals.

A shortage of industrial options has pushed Commercialleasing and industrial property sales activity declined in 2022 from up the to record levels recorded in 2021, warehouse rental values an average of $135 per theQ1 impact upon investor of increasing square metre in 2023, from $130sentiment in Q4 2022.

Retail interest rates and forecasts of recession. Despite this, transactions rents have remained but incentives have over increased, totalling stable $147.5 million were completed the year led particularly in secondary locations, where vacancy rates by the industrial sector which accounted for approximately total sales sector, by value. the flight to quality have increased.59% In of the office has seen upward pressure applied to prime grade rentals.

Number

Floor area

Number

Floor area

2022

1,501

266,207

55

57,145

2023

1,480 1,111

246,168 203,879

50 56

41,053 33,485

10-Yr Ave

Annual change Data based on March 2023. Face rents, yields and capital values are based on averages across all precincts. Financial exclude buildings in the development pipeline.

Commercial and industrial property sales activity declined $400the record levels recorded in 2022 from in 2021, reflecting Warehouse Retail the impact$350 upon investor sentiment of increasing interest rates $300and forecasts of recession. Despite this, transactions totalling $147.5 million were completed over $250 the year led by the industrial sector which accounted for $200 approximately 59 per cent of total sales by value.

6.5%

Industrial

5.5% 5.0%

Whilst hl allll care h has b been taken k to provide d reasonably bl accurate information f within h this h report, Colliers ll cannot guarantee the h validity ld of all data and information utilised in preparing this research.

Accordingly, Colliers New Zealand limited, do not make any representation of warranty, expressed or implied, as to the accuracy or completeness of the content contained herein and no legal liability is to be assumed or implied with respect thereto. © All content is Copyright Colliers New Zealand Limited 2023 (Licensed REAA 2008) and may not be reproduced without expressed permission.

Mar-23

out more, scan the QR Code

Dec-22

Jun-22

Mar-22

Dec-21

Sep-21

Jun-21

Mar-21

Mar-23

Dec-22

Sep-22

3.0% To continue reading and find

Jun-22

$0 Mar-22

3.5% Dec-21

$50 Sep-21

4.0%

Sep-22

4.5%

$100

Jun-21

Retail

6.0%

$150

Mar-21

Colliers Portfolio

The demand for high-quality accommodation in The demand for office high-quality accommodation in has tighter led to even tighterconditions market conditions. Low Whangārei hasWhangarei led to even market vacancy rates support the case for new development. The with low vacancy rates supporting the case for new industrial sector has also experienced an extended period development.The industrial sector has also experienced of elevated tenant demand, with leasing options becoming an extended period of elevated tenant demand, withpremises is increasingly scarce. The demand for retail While there is a shortage leasing optionsmixed. becoming increasingly scarce.

Theof large-format retailpremises premises, is vacancy rates within retail isstrip demand for retail mixed.

While there a locations are trending upwards. significant shortage of large-format retail premises, The development has remained active despite vacancy rates within retail stripsector locations are trending increases in interest rates and a cooling economy. In the upwards.

Colliers rebrands Corporate Solutions to Occupier Services

For the full article, scan the QR code

Colliers has rebranded its Corporate Solutions service line in New Zealand, and it will now be known as Occupier Services.

The Occupier Services team at Colliers provides market-leading property services that optimise their client's operations for over 10,000 properties nationwide.

The team of 60-plus experts have access to state-of-the-art software for reporting and data analytics and their clients include some of the most high-profile organisations in the public and private sectors such as the Ministry of Education, Z Energy, and BNZ. The rebranding is a strategic decision that will bring the New Zealand Occupier Services team in line with their Colliers colleagues from across their global network.

Gerard Earl, National Director of Occupier Services at Colliers, says the rebrand will allow for better alignment across Colliers.

“Our team are highly committed to providing the best possible service for our clients and we take immense pride in our track record of providing innovative outcomes for their property needs through state-of-the-art technology platforms and intricate analysis.”

Gareth Fraser, Chief Executive of Colliers New Zealand, says the new name for the service line is a better representation of their offering to the organisation’s valued clients.

“The Occupier Services team is a hugely successful part of our business that continues to experience consistent growth, while working with an expanding portfolio of prominent clients.”

Recently, the Occupier Services team secured major management agreements with Fortysouth, and the Noel Leeming Group, exemplifying the depth and breadth of their capabilities.

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.

Jun/Jul 2023

Accelerating success.