Author Archives: Michelle Nicholson

Green ratings for MHP-managed buildings in Christchurch Innovation Precinct

August 19, 2016

August 19 2016 – Two landmark assets in MHP’s management portfolio – the Kathmandu and Vodafone buildings in Christchurch’s Innovation Precinct – have been awarded 5 Green Star NZ – Office Design 2009 Certified Ratings from the New Zealand Green Building Council.

Dale Robertson, director of South Island-based specialist property and asset manager MHP, says the ratings are testament to the high quality of the developments across the company’s management portfolio.

“We now manage three landmark office buildings in Christchurch that have been awarded top marks for sustainability. We are very proud to manage these high-quality assets on behalf of their investor owners.”

Both the Kathmandu and Vodafone buildings are owned by groups of investors and managed by MHP. A third MHP-managed office building in Christchurch, the IAG building at 14 Show Place, Addington, recently became the first building in New Zealand to achieve a 5 star NABERSNZ whole building rating, following a refurbishment project undertaken by IAG and Goodman.

The 5 Green Star ratings for the Kathmandu and Vodafone buildings set a high standard for the emerging Innovation Precinct in the Christchurch central business district, says Robertson.

“We congratulate Calder Stewart on achieving 5 Green Star ratings for these significant new buildings. It sets the bar high for the Innovation Precinct to have the first two major projects off the rank awarded these ratings. It’s a very positive step for the precinct, and will help in attracting more high-profile national tenants to buildings in the area.”

From a management perspective, 5 Green Star ratings are important attributes for commercial buildings, Robertson says.

“A 5 Green Star rating greatly assists in attracting and maintaining high-calibre tenants, who benefit from the positive profile occupying a green building carries in terms of corporate social and environmental responsibility.

“Sustainable design also benefits building owners as well as occupiers; with features such as modern, efficient and low-maintenance heating and cooling systems, increasing the efficiency of buildings’ performance and reducing running costs.”

Vodafone’s 8,500m2 InnoV8 building has four office levels with retail space on the ground floor. The building features passive solar design, a high-performance façade to maximise daylight while balancing heat levels and an integrated fit-out design to reduce waste.

The 4,650m2, three-level Kathmandu building, Papa Kainga, includes a high-performance double-glazed façade and automated blinds that track the sun and adjust accordingly. Both buildings feature a highly efficient ventilation system that brings in outdoor air at a rate 50% above Building Code requirements, to provide a healthier indoor environment for staff.

Kathmandu-Building-ltd

Save

MHP-managed building first to achieve market leading whole building energy performance in New Zealand

August 8, 2016

14 Show Place, Christchurch (managed by MHP) is the first building in New Zealand to achieve a 5 star NABERSNZ whole building rating.

The sustainability focused refurbishment project encompassed over 7,000m2 office space across 6 floors over two adjoining buildings, and was prompted by earthquake remediation work and a pending lease expiry.

Full story here: http://www.nzgbc.org.nz/Story?Action=View&Story_id=151

MM-group-1

Save

Save

MHP Newsletter July 2016

July 24, 2016

Finally the Christchurch CBD rebuild seems to be really gathering pace. The new Vodafone and Kathmandu buildings (which MHP is proud to manage) have breathed life into the Innovation Precinct and there is now a real buzz in that part of the CBD with good numbers of workers and shoppers. Along Cambridge Terrace, the King Edward Barracks project is quickly rising alongside the PWC building in the reborn “West End” precinct. The recent announcement of firm plans for the Convention Centre will hopefully be a catalyst for the revitalisation of the Cathedral Square surrounds. Now all we need is a decision on Christ Church Cathedral…

Happy reading and please let us know your feedback and comments; either by email, phone or on our new LinkedIn page.

Comments from Ron Mackersy

The commercial market is still buoyant. Cap rates are still firming in Auckland so that prime property is now into the 5 percents. Provincial markets are now taking advantage of demand.

Surveys show the leading markets are Tauranga and Queenstown – Auckland and Christchurch have slipped back.

Interest rates are still looking to slide but we see banks increasing margins and becoming more choosy as to what they lend on. This is typical of this part of the property cycle – with the market hot and quality properties hard to find – and not a lot of yield difference between really good and average.

Lately we have completed a number of smaller syndications (less than $10 million). We have a couple of smaller ones in the pipeline as well as several larger projects.

We intend to start holding more seminars and property tours. We would be interested to hear whether you would like to be a part of these – please email owillows@mitchellmackersy.co.nz.

News from Dale Robertson’s desk

It looks like winter has finally arrived after a very mild May and June. Over this time, we have been busy integrating some major new buildings into our management portfolio.

Among these new portfolio additions are the Vodafone and Kathmandu buildings in the Christchurch Innovation Precinct. These buildings are very significant for MHP as well as for Christchurch as a whole. They have transformed an empty corner of the city into a living and breathing precinct where life is buzzing once again.

The 8884m2 Vodafone building will be formally opened in the near future, and the 4601m2 Kathmandu building is now home to office workers and a big, bright new retail store. We are very proud to manage both these buildings.

kathmandu-chch vodafone-chch

The other significant addition to our management portfolio, Five Mile in Queenstown, is also now on board. Five Mile is one of the key projects in the Frankton Flats area. Huge growth is underway at Frankton Flats, with major commercial, residential and infrastructure projects being developed in response to very strong demand.

Over the other side of Queenstown Airport, we are refurbishing the former Mitre 10 building at Remarkables Park. This property will house Harvey Norman Computer and Electrical and a French bakery, with two further tenancies also being offered for lease by Colliers International. The $2m refurbishment project is now underway.

Four Countdown supermarkets in the North Island, known as MM Group 2, are also being integrated into the portfolio.

Two older buildings in our portfolio – one in Auckland and the other in Christchurch – have sold, with a number of the investors in these syndicates reinvesting into other properties.

Annual accounts are being processed for all properties and should be in the hands of investors over the next four to eight weeks.

Please feel free to contact me or the team if you have any questions about our management portfolio – we look forward to hearing from you.

Follow MHP on LinkedIn

We now have a LinkedIn company page at http://linkedin.com/company/mhp. We are using this page as a forum to share the latest updates about MHP, news about tenants in our management portfolio and other relevant links. We encourage you to visit the page, follow it and contribute to the discussions.

Colliers International’s 2016 Queenstown, Dunedin and Wanaka market Review and Outlook

queenstown

The Queenstown property market is in a ‘golden cycle’ according to Colliers International. The company has recently released its 2016 annual market Review and Outlook which shows the already red-hot Queenstown property market is approaching historic highs. Expansion is expected to continue for the foreseeable future, due to strong fundamentals underpinning the current bull market. These fundamentals, which include increased tourist numbers and migration have resulted in an “unprecedented” real estate boom.

The report also includes sections on Dunedin and Wanaka and is available to download on the Colliers website.

What does it take to succeed with a property development in Christchurch?

Experience? Cash? Skill? Nerves of steel? The Press recently looked at what it takes to get a successful private property development off the ground in central Christchurch, in an interesting feature story.

Team member profile

Julie Elliott
Julie joined MHP in March 2016 as Financial Controller, responsible for the company’s finance and systems.

Professionally trained in the UK, Julie has many years’ accountancy experience in a broad range of business structures and sectors.

Having worked in a number of businesses during periods of growth, she has sourced, implemented and managed various systems and process to facilitate business needs.

Julie is based in our Christchurch office.

julie-elliot