Looks like Christchurch will finally get its convention centre, although it will be a significantly scaled-back version of the original proposals. Read the full article on Stuff here:
The upcoming sale of City Care (a tenant in MHP’s management portfolio in Dunedin) is not expected to impact the company’s excellent tenant covenant.
The McKenzie and Willis site development is located opposite the new Vodafone and Kathmandu buildings which are managed by MHP. Let us know what you think about the proposal to include 55 shops in this location within Christchurch’s Innovation Precinct.
Those of you who have exchanged emails with us recently may have noticed our new logo and brand ‘look’ – which is featured in this newsletter. We are very happy with the fresh identity that Fluid Visual Communications in Queenstown have created for us and we hope you’ll agree it gives us a much sharper public profile. We are now in the process of refreshing the look and feel of our website in line with the new branding.
While MHP is now our ‘brand’, we are still trading as Maori Hill Property Limited and there is no change to our core business. However the rebrand is just one of several changes underway for MHP as we continue to grow…read on to find out more.
Comments from Ron Mackersy
We are into April already. Where did the first months of the year go?
The past twelve months have been extraordinary for Mitchell Mackersy and MHP. The commercial market is very buoyant with fantastic property being offered and we have been able to secure some quality investments for our investors. Interest rates have continued to ease and are now at levels we haven’t seen for forty years. Further easing looks likely. Of course cap rates for property purchases have become sharper too but overall a return of over 8% (geared) is still achievable. There are challenges in the New Zealand economy with the downturn in the dairy industry, but immigration is still positive and tourism is booming. It will be an interesting twelve months ahead.
The best commercial property buys are to be found in the $20m – $50m bracket. We have been fortunate in securing a range of retail and office buildings throughout New Zealand in this category, with recent purchases including two retail blocks in the Five Mile development in Queenstown, Trust Power’s new HQ in Tauranga and four Countdown supermarkets in the North Island. We think there will continue to be further opportunities in the next twelve months, although perhaps not at the level we’ve experienced over the last year.
MHP has seen rapid growth, adding a number of new staff, and making changes to all its offices in the last half of the past financial year to accommodate that growth. MHP remains ready and able to manage properties we already own and those we are adding to the portfolio, and to serve the shareholders of them.
News from Dale Robertson’s Desk
Autumn has brought a run of spectacular weather to the South Island and, more predictably, the end of the financial year. Annual accounts are now being processed for each syndication and will be with shareholders in the coming month or so.
Along with the new brand, the first months of 2016 have seen some big changes for MHP. Our new offices in Queenstown and Christchurch are big enough to accommodate our new staff members as well as the future growth that is needed to take our business forward. On that note, I am pleased to formally welcome our Financial Controller, Julie Elliott; and Senior Property Manager Kirita Sio, both of whom are based in our new Christchurch office in Show Place. The Queenstown team is now located downstairs in the Terrace Junction complex.
Following a stand-out year in 2015, I am looking forward to our strengthened team taking us into the next phase of growth in 2016 and beyond.
Team member profile
Angela has been working within the Commercial Real Estate industry for over 13 years. She has gained her experience working as a Commercial Leasing Agent for Colliers International in North Sydney and then as a Portfolio Manager on the Telstra Corporation Limited’s contract for United Group Service in Sydney.
Angela joined MAC Property as a Commercial Property Manager and Consultant in December 2006 which then merged with MHP in July 2015.
Angela is a Senior Property Manager based in our Queenstown office working alongside Sarah Norman and Emily Dennison.
You can view the newsletter here.
The Southland Times has moved into its new building in Invercargill, managed by MHP. Reporter Georgia Weaver explores the modern workforce, challenges ahead and what businesses may need to consider when they plan for the future.
MHP is proud to manage the stunning new Kathmandu building in Christchurch’s Innovation Precinct, which was officially opened on June 21.
Read the full article here.
New Zealand’s biggest chicken producer said it is “well positioned” to meet its 2017 targets… Tegel is one of the tenants in MHP’s property management portfolio.
Read the full article here: