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Investors & Developers

Work with the leading experts in New Zealand and maximise the value of your real estate assets through their life cycles.

​​​​​​​​​​​​​​​​​​​​​​​We are a team dedicated to nurturing our client relationships and their portfolios – large or small, complex or straight forward – we understand the unique investor and owner requirements and assets. With our experience spanning over 25 years across the New Zealand market we are the experts in our field and our proven track record of success speaks for itself.

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    Does your workplace support your business objectives, underpin your culture and differentiate your brand? Learn more about Workplace Strategy from one of our experts.

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Transaction update - 64 Apollo Drive/new-zealand/en-gb/case-studies/10/transaction-update-64-apollo-driveTransaction update - 64 Apollo Drive<p>The recent sale of an industrial premise on Auckland’s North Shore for a 7% yield is a prime example that investors are still actively pursuing quality properties and are willing to pay required premiums.</p> <p>64 Apollo Drive, a 1,115 sqm prime quality industrial premise has just sold for $2.58 million, representing a 7% yield. The property has a remaining lease term of three years, with a net rental of $181,000 from Lingerie Brands Limited, a prominent lingerie importer, wholesaler and retail business.</p> <p>David Mayhew and Shoneet Chand from Jones Lang LaSalle have just negotiated the deal. They have indicated that the family trust was looking for a premium industrial investment in a quality location, with a solid covenant. 64 Apollo Drive ticked all the boxes.</p> <p>Apollo Drive is recognised as one of the most desirable addresses on the North Shore, situated in the Interplex Business Park and governed by the Interplex Association.</p> <p>The Association was initiated to protect the use and integrity of developments in the subdivision, with the view of protecting property values over the long term. This has been achieved through the covenants in place to ensure that buildings within their boundaries are of the highest quality, while also restricting specific types of heavy industrial uses. Examples of this are; low site coverage, high quality building materials and specific landscaping requirements.</p> <p>64 Apollo Drive was designed and built by Terry Randell who is a respected Auckland architect and has been involved within the Interplex association since conception.</p> <p>Mr. Randell described 64 Apollo Drive as one of the most highly specified buildings on the North Shore, which is evident from fully tiled bathrooms to the full height aluminum door frames. The warehouse walls are also painted full height and the floors coated in Aquron 1000, which eliminates concrete dust allowing for a cleaner operation.</p> <p>Total floor area for the property is 1,115 sqm with a very desirable 72:28 warehouse to office ratio. This configuration March 2010 is very rare in the area as most have a warehouse to office ratio similar to 60:40. This is due to developers looking to maximise the return on land values, which have increased significantly in the North Shore area over the last decade. However, high office ratios are generally less functional for traditional industrial/distribution. This makes 64 Apollo drive an attractive option for investors.</p> <p><img style="border-right:0px solid;border-top:0px solid;border-left:0px solid;border-bottom:0px solid;" src="/SiteCollectionImages/NewZealand/64_apollo_drive_large.jpg" border="0" /></p> <p>Jones Lang LaSalle research shows that prime yields are generally trading between 8% and 9.75% for industrial premises at the moment. However, it is expected that both prime and secondary industrial yields are likely to start firming at the upper range over the second half of 2010 as investors become more confident in New Zealand’s economic growth. This is already materialising, with the 4Q09 GDP results indicating a 0.8% increase translating confidence into action.</p> <p>While the sale of 64 Apollo Drive is well below recent investment yield trends, there are a few key reasons for such a firm yield to be achieved. Firstly, the location and quality of the building with the Interplex covenants in place protecting its value. Secondly, the passive investment style purchase of a safe and stable income for the family trust. As the investor noted, a 7% return is higher than currently investing it with the bank.</p>0x0100F03D47272AC15342926F7D713E448F1B00EB1C487C9E90A2419F545A2750B08453
Holden New Zealand/new-zealand/en-gb/case-studies/11/holden-new-zealandHolden New Zealand<p><strong>Situation</strong></p> <p>Holden NZ currently hold a lease over a 12,000sqm warehouse in Wellington servicing all vehicle dealerships throughout NZ. The premise lease expires in October 2009.</p> <p><strong>Key Issues</strong></p> <ul> <li>Costs to the business to provide parts to dealerships outside of Wellington justified a relocation in closer proximity to the majority of dealers and a major port resulting in reduced service and delivery times.</li> <li>With service provider agreement and premise lease expiring within a similar timeframe, the opportunity existed to analyse the cost effectiveness of a potential relocation within NZ.</li> <li>A search of the marketplace identified several possible relocation options in Auckland.</li> <li>Accommodation and capital costs, amount and efficient use of floor space and lease flexibility were key considerations in assessing future operational needs.</li></ul> <p><strong>Jones Lang LaSalle Approach</strong></p> <ul> <li>Jones Lang LaSalle investigated both existing and proposed warehouse developments, providing details as to the timing for entry into the premise and availability of racking.</li> <li>Jones Lang LaSalle provided market research data and commented on risk surrounding potential options.</li> <li>Possible consolidation opportunities were investigated.</li> <li>Cash flows were developed to analyse the short-listed options taking into consideration tail end obligations in respect of all other Holden NZ premises.</li> <li>Holden NZ were able to justify the acquisition of a suitable warehouse with expansion opportunities, and adjoining office space for the future consolidation of all NZ operations on to a single site.</li></ul> <p><strong>Outcome</strong></p> <ul> <li>Jones Lang LaSalle secured 6,500 sqm of flexible warehouse and office accommodation with expansion opportunities that would allow HNZ to consider phased consolidation of the entire New Zealand operation into a single site as required. </li> <li>A short term lease including a termination clause was negotiated.</li> <li>Racking was included within the deal enabling HNZ to complete the transaction within 4 months and enjoy a seamless transfer within a tight timeframe.</li></ul> <p><em>“HNZ has multiple stakeholders across both New Zealand and the globe and Jones Lang LaSalle were quickly able to mobilize and coordinate everyone to keep the project on course . With an opportunity to consolidate our NZ operations on to one site, the final outcome helped us achieve significant business and cost saving initiatives. Despite a challenging brief, Jones Lang LaSalle made it easy.”</em></p> <p>Stephen Matthews – Parts Operation Manager</p> <p><img style="border-right:0px solid;border-top:0px solid;border-left:0px solid;border-bottom:0px solid;" src="/SiteCollectionImages/NewZealand/holden_nz_wellington.jpg" border="0" /></p>0x0100F03D47272AC15342926F7D713E448F1B00EB1C487C9E90A2419F545A2750B08453
Vero/new-zealand/en-gb/case-studies/12/veroVero<p align="left"><strong>Property</strong></p> <p>Vero Insurance New Zealand Limited  together with Suncorp Wealth Management and Asteron occupy 11,600 sqm of office accommodation across nine and half floors in Vero Centre, Shortland Street. Their existing leases expire in 2012.</p> <p><strong>Key Issues</strong></p> <ul> <li>With rent reviews due in December 2008 and March 2009, and significant rental growth over the previous period,  Vero wished to consider their longer term position and review their options for future accommodation. </li> <li>Accommodation and capital costs, amount and efficient use of floor space, branding and lease flexibility were key considerations in assessing future operational needs.</li> <li>Investigations into the market indicated a number of options being available now and in 2012 upon lease expiry.</li></ul> <p><strong>Jones Lang LaSalle Approach</strong></p> <ul> <li>Jones Lang LaSalle undertook a detailed analysis of the known available options and reported on likely future availability having researched potential tenant movement following future expiries.</li> <li>Jones Lang LaSalle advised on prevailing market conditions and using research forecasts commented on future market scenarios. </li> <li>A financial analysis detailing costs to stay put, restructure <p align="right"><strong> </p></strong>the existing lease or relocate was presented by Jones Lang LaSalle and recommendations made. </li> <li>Vero was able to make a reasoned decision and identify the current premises as suitable for their ongoing operational requirements under a new lease structure.</li> <li>Jones Lang LaSalle helped create leverage to negotiate a restructure of the existing leases to support all of Vero ’s future operational requirements.</li></ul> <p><strong>Outcome</strong></p> <ul> <li>The existing leases were varied allowing the release of two floors and associated car parks in a phased exit with relaxation on reinstatement.</li> <li>The current rent review date was waived to enable a new lease commencement date aligned across all leases.</li> <li>Negotiation of a new 9 year lease term with expansion opportunities offered flexibility at a time of uncertainty in the market.</li> <li>The Landlord agreed to help fund improvements to th <p align="right"><strong> </p></strong>e remaining floors to allow an easy transition from the surplus floors.</li> <li>Vero received the benefit of a phased rental holiday.</li></ul> <p><em>“Any doubt Vero had to using an advisor to assist us was quickly overcome when we realised the huge value that JLL brought to the table in terms of market knowledge, research and negotiation skills. Working in partnership, not only did we achieve a great outcome for our business in a difficult market; we achieved it in an agreed timeframe and maintained our solid relationship with the landlord. Thanks Caroline for all your hard work!”</em></p> <p>Sebastian Moir – Vero New Zealand Procurement & Supply Manager</p> <p align="left"><strong><img style="border-right:0px solid;border-top:0px solid;border-left:0px solid;border-bottom:0px solid;" src="/SiteCollectionImages/NewZealand/vero_insurance.jpg" align="left" border="0" /></p></strong>0x0100F03D47272AC15342926F7D713E448F1B00EB1C487C9E90A2419F545A2750B08453