Welcome
Welcome to the Spring 2024 edition of the NAI Harcourts Key Assets eBook.
As we move through spring and feel the warmth of summer approaching, there’s a growing sense of optimism among our businesses. The New Zealand commercial property market in 2024 has faced challenges due to higher interest rates, similar to the broader economic landscape. However, our largest banks have begun to lower their mortgage test rates or are considering doing so, following the Reserve Bank’s recent decision to cut the Official Cash Rate (OCR), leading us all to feeling more confident that positive change is afoot.
What might this mean for us?
With the drop in the Official Cash Rate (OCR) in New Zealand, several implications arise for commercial real estate.
• There will be lower borrowing costs on loans, making it cheaper for businesses and investors to finance commercial properties and thus potentially stimulating demand in the market.
• Lower borrowing costs should lead to increased investment activity, as they may encourage more investors to enter the market or expand their portfolios. This, in turn, should boost transaction volumes and potentially an increase in property values.
• Tenants may benefit from improved cash flow from lower financing costs with a more positive business environment enhancing their cash
flow as well. These factors should lead to greater stability in existing leases, and more demand for well-located property.
• Developers should feel more confident initiating new projects, as reduced financing costs and an improved business environment can improve the feasibility of developments and renovations.
In summary, the drop in the OCR should enhance overall market confidence, providing a more stable environment for both investors and tenants and we at NAI Harcourts are ready and well prepared to welcome a more favourable environment for commercial real estate in New Zealand.
This edition of our eBook features a diverse selection of commercial properties across New Zealand and opportunities to acquire businesses, designed to simplify your search for the latest commercial prospects nationwide.
Thank you for the wonderful feedback on our previous edition! We hope you find this one equally valuable.
If you have any questions or need further information about the listings in this eBook or beyond, our expert NAI Harcourts sales consultants are ready to assist you promptly and efficiently.
Warm regards,
Bryan Thomson Managing Director, Harcourts New Zealand
How
KEYSBradley
Commercial Director Spaceworks Ltd
Can Spaceworks Help You Design a Workspace That Maximises ROI and Future-Proofs Your Business?
With over 23 years of experience and 1,800+ successful projects, Spaceworks has become New Zealand’s go-to interior architecture firm. We specialise in transforming offices, retail spaces, aged care facilities, and hospitality environments, providing bespoke solutions that cater to each client’s unique needs while delivering exceptional return on investment.
Our team of workplace strategists, interior architects, designers, project managers, and procurement specialists ensures your project is delivered on time and within budget. We use advanced technology and agile processes to offer cost and time certainty, while our flat structure allows us to respond quickly and efficiently to any project demands.
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From concept to completion, we provide singlepoint accountability, making the journey smooth and hassle-free. And with our commitment to ESG, we integrate sustainability and social responsibility into every project we undertake.
Trusted by global icons, and beloved local brands like Tank, 2Degrees, and Paper Plus, Spaceworks consistently delivers projects to the highest standards.
As a proud business partner of Harcourts and members of FMANZ, we are passionate about creating inspiring spaces that enhance both business performance and employee well-being.
Spaceworks: Strategy, Design, and Beyond
At Spaceworks, we believe design is more than just aesthetics—it’s about creating spaces that are both beautiful and functional. Our design strategy transforms spaces into environments that are not only captivating but also practical, optimising every inch for a seamless and enjoyable experience.
Furniture Procurement Made Easy
Choosing the right furniture is key to completing any space. Our procurement team handles everything from sourcing to selecting high-quality pieces that fit your project’s style, functionality, and budget. We ensure that each item enhances the atmosphere, offering comfort, durability, and visual appeal.
Project Management You Can Rely On
Our skilled project management team makes sure every project runs smoothly. With a focus on transparency, we handle every detail from start to finish, ensuring your project is completed on time and within budget. By using proven methodologies, we can even deliver your project up to 20% faster.
Bringing Design to Life with Construction
As designers, we understand the value of handson involvement in construction. We offer a turnkey solution, managing the entire process to bring your vision to life. We also prioritise ESG goals, incorporating sustainable practices to meet any environmental objectives set during the strategy stage.
With Spaceworks, you get a seamless experience from strategy to construction, ensuring your space is built to inspire and perform.
“Reasearch shows well-designed offices are 25% more productive.”
How Can a Spaceworks Fit-out Maximise Your ROI While Creating a Future-Proof, Healthy, and Inspiring Workspace?
At Spaceworks, we believe that great design delivers more than just aesthetics—it drives results. Our workspace designs are crafted to enhance productivity by optimising layouts, incorporating ergonomic furniture, and integrating the latest technology solutions.
The result? A workspace that boosts focus, collaboration, and efficiency, leading to real business outcomes.
But it doesn’t stop there. A thoughtfully designed office also plays a key role in attracting and retaining top talent. As more employees seek workplaces that prioritise their well-being and inspire creativity, our designs help you stand out as an employer of choice.
Plus, by aligning your workspace with your brand and prioritising employee health and sustainability, you create an environment that reflects your values, enhances your reputation, and contributes to a greener future.
With Spaceworks, every design decision is an investment in your company’s growth and success. Let us help you create a space that works for today— and tomorrow.
Visit: www.spaceworks.co.nz
Contact Bradley Keys on 027 700 1555 or bradley@spaceworks.co.nz
nai.harcourts.net/nz/key-assets
Carl
On top of the world!
We get asked a lot lately, why is Invercargill performing so well in what is a tough economic climate elsewhere. This is a question I love to answer, and answer with pride!
The Southland region such a resilient region that spans many industries which in turn gives us a very stable long term economic outlook.
Added to that long term outlook we have recently had some large news that have a significant impact on locals outlook.
The inner-city redevelopment has a huge part to play, as this genuinely has brought the heartbeat of the city back to the CBD and has given Invercargill the look and feel that we have deserved for many years. The feedback from visitors is epic, often saying this doesn’t feel like the Invercargill they once knew.
This wouldn’t have been possible without the input
from a local family business, HW Richardson Group (HWR), who are passionate about the region which has been so good to them. They are willing to invest back into the town and in partnership with a positive local council, who have basically demolished and rebuilt an entire CBD block which has been transformative for the city.
The city also benefits from our local Invercargill Licensing Trust (ILT), which heavily invests back into the community giving us things like world class stadiums, velodromes etc, but more recently they have built a stunning new 5-star 7 storey hotel in the heart of the city which only adds to the new offering in the Invercargill CBD. So, the Invercargill experience is a much changed one from the past.
Another large economic stimulant has been Tiwai’s decision to confirm a 20-year supply deal for power. This agreement secures a business that not only provides high-paying jobs for hundreds of locals but
JOHNSTON
Commercial Property Broker
NAI Harcourts Invercargill
South Port NZ - Invercargill
also supports numerous surrounding industries that rely on the smelter’s operations. The positive ripple effect on the community is substantial, as these support industries create even more employment opportunities.
Fonterra have also announced a new construction project locally that will employ an additional 70 well paid locals.
We also benefit from an International Port, 21kms down State Highway 1 in Bluff that is ever increasing in volume and shipping, so logistically we are poised to be a potential hub in the future to feed the island freight.
The strong rural economy gives stability over the years and at times provides very good stimulus to the supporting industries.
But, for me it is the lifestyle that Invercargill offers that keeps people here once they experience it in all its glory. We have an abundance of resources and fantastic facilities right here in town. Within just a 15-minute drive, you can reach Oreti Beach, which is a hidden gem on a good day. Along the way, you’ll pass a variety of activities, including rowing clubs, speedboat clubs, a nationally rated golf course, the internationally renowned Teretonga Motorsport Park, mountain bike trails, and so much more!
Plus, we have the benefit of location, Fiordland is only 1 hour 45 mins up the road if you love the wilderness at its best, or if you like the fast-paced life of somewhere like Queenstown from time to time. I am often quoting that I can leave my office at 4pm and can be sitting at White and Wong restaurant in the middle of Queenstown at 6.30pm.
So, we get to enjoy these amazing areas, yet we are spoilt in the fact that we have some of the most affordable housing here in Invercargill alongside a great option of well-paying industries around the region equates to a lifestyle here that is hard to rival anywhere in the country.
And finally, it’s the people!!
Southland is a region that people still say hello in the streets and a handshake still means something. We have incredible schooling that is safe and a climate that is our best kept secret; it’s not as bad as everyone thinks!
We look forward to being a part of Southland positive future and knowing some of the large projects that are in the planning stage in the region, we really do have a fantastic future ahead and as they say, “Southland is at the top of the NZ, depending on your perspective”.
Southland is the top performing region, with activity boosted by a building boom. Auckland’s activity is still weak, despite strong population growth. And it’s feeling bitterly cold in Windy Wellington, with a Jack Frost score of just 2, the same as last year. The bright spots, hidden beneath the surface, reflect the recovery in tourism. Otago is a strong performer.
Front cover image: Invercargill Central – Invercargill
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Credit: Kiwibank.co.nz, business banking commentary and insights.
Unlock Your Investment Potential with HouGarden
As the leading portal for Chinese residential buyers, HouGarden is now making waves in the commercial property sector, boasting over 5,000 listings tailored for investors, business owners, and developers.
If you want to tap into the thriving market of Chinese commercial buyers and investors, read more here from Harcourts Business Partner, HouGarden.
In the quarter, 1 June to 1 September 2024, HouGarden saw an uplift in engagement within the commercial property sector. The total number of commercial property views exceeded 22,000, with over 2100 active users engaging with commercial listings on the portal, compared to the previous quarter, which saw over 15,000 views and 1400 active users.
Active users were predominantly located in Auckland, Christchurch and Hamilton and searched for commercial property in Auckland, primarily. The majority of commercial property views were by Chinese buyers and investors (55%), followed by European buyers and investors at 29%. Active users identified as 52% male versus 48% female.
Total sessions relating to commercial properties on Hougarden.com exceeded 4500, also marking an increase (15%) from the previous quarter.
HouGarden has continued to expand its digital footprint with more than 70,000 followers across its social media platforms. The HouGarden app has also been a key contributor to the platform’s success. With over 133,000 installs and an impressive 4.8/5 rating from 2,500 total reviews.
For further commercial analytics, please contact Dan Keenan at dan@hougarden.com nai.harcourts.net/nz/key-assets
