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Christcurch commercial property sales record rise

  • property
  • May 18, 2017
Christcurch commercial property sales record rise

Sales of commercial property in Christchurch’s CBD have risen by record levels as office sector workers return.

The return of white collar workers to the Christchurch CBD has resulted in record sales in the second half of last year.

CBRE’s first quarter 2017 Christchurch MarketView report reveals 41 percent of the $242 million in sales volume was within the office market with an increase in levels of transactions over $5 million.

This marks the highest level for Christchurch since post-earthquake, according to latest research published by the international real estate agency. 

Building completions in Christchurch are estimated to be a total of 241,000 square metres, including space taken up by incoming international retailers.

The increased focus on the CBD does come at the expense of the suburban office market according to the report, with more backfill vacancy expected to occur in 2017 due to relocations to the CBD.

On the development front, the report indicates there is sustained activity particularly in the west of the city, as industrial occupiers look to expand and capitalize on land availability, low interest rates and business growth.

Business growth can also be attributed to new stores opening up in the heart of Christchurch, such as Mecca Maxima and H&M.

The record growth is now expected to stabilise, as it balances out with other contributing factors. 

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Enhancing the experience: Hospitality New Zealand

  • News
  • November 17, 2017
  • Courtney Devereux
Enhancing the experience: Hospitality New Zealand

Some commentators think food and integrated hospitality offerings will save brick and mortar retail from obsolescence in the age of ecommerce. But does catering to the consumer’s every need result in sales, or are shoppers moving on without making a purchase? In the Enhancing the experience series Courtney Devereux hears from Vicki Lee of Hospitality New Zealand about why these two different sectors are working together.

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What’s next for Auckland’s City Centre: a Q&A with designer Ludo-Campbell Reid

  • News
  • November 16, 2017
  • Elly Strang
What’s next for Auckland’s City Centre: a Q&A with designer Ludo-Campbell Reid

Auckland Council recently released a video detailing how far it’s come with the urban design of the City Centre over the last 10 to 15 years, as well as its vision for the years to come. Elly Strang talks with Ludo Campbell-Reid about the pace at which his vision is coming to fruition, the most impactful changes already made to the City Centre and goals for the future.

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Owner / Retailer: Suzie Johnson

  • News
  • November 16, 2017
  • Sarah Dunn
Owner / Retailer: Suzie Johnson

Oosh is a regional retail empire that’s built on empowering rural women. Founder Suzie Johnson chose the name after ‘Oosh’ was tagged into the side of her first store in Shannon, which she opened after putting her husband through university selling jewellery and paintings at markets.

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A first look at new pharmacy player Chemist Warehouse

  • Opinion
  • November 16, 2017
  • The Register team
A first look at new pharmacy player Chemist Warehouse

When Australian pharmacy giant Chemist Warehouse opened its first New Zealand outlet less than 50 metres from The Register team’s office, Courtney Devereux and Sarah Dunn couldn’t resist heading in for a mystery shopping trip or two.

Read more
 
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