NZ s biggest new office block rising: How Covid exacerbated demand for $650m project
10 May, 2021 05:00 PM
4 minutes to read
Culum Manson of Mansons TCLM on NZ s biggest new office block rising. Video / Dean Purcell
Culum Manson of Mansons TCLM on NZ s biggest new office block rising. Video / Dean Purcell
A $650 million new office block project is rising a block from Auckland s waterfront in New Zealand s largest newly-announced commercial construction project. Culum Manson of Mansons TCLM said despite predictions of falling demand for new offices, so many tenants had contacted the family business that the 15-level project began without leasing any pre-commitment due to the firm s confidence about signing leases well before construction completion.
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A survey conducted by CBRE has found 2021 is forecast to see a 5-10 per cent rise in investment volumes across the Asia-Pacific.
Confidence in commercial real estate is on the rise across the Asia-Pacific region, with 2021 set to see a 5 per cent to 10 per cent rise in investment volumes, according to CBRE’s latest Asia-Pacific Investor Intentions Survey. The survey, which was conducted between November 9, 2020, and December 14, 2020, asked 492 mainly Asia-Pacific based investors a range of questions on their buying appetite and preferred strategies, sectors and markets for 2021. Reflecting a broad improvement in market sentiment boosted in part by the recent commencement of vaccination programmes in several countries around the world, plus an upbeat fundraising environment that has seen US$59 billion of equity raised by Asia-Pacific-focused real estate funds between 2018 and 2020, the survey found that 60 per cent of commercial property investors acr
Du Val wants $17.5m for Auckland build-to-rent purchases, forecasts 8% plus annual returns
26 Jan, 2021 04:00 PM
5 minutes to read
Property specialist Du Val is seeking $17.5 million from qualified wholesale investors in New Zealand, Hong Kong and Singapore to buy two Auckland residential complexes it owns to establish build-to-rent offerings. According to an information memorandum, the Du Val Build-to-Rent Fund LP is forecasting returns of more than 8 per cent annually.
The offer closes on January 31.
Du Val says it has a $750m pipeline of new work and cites CBRE research last year to claim to be New Zealand s largest private suburban apartment developer.