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High tenant demand prompts real estate agency to expand its property management arm

High tenant demand and future growth projections for the Queenstown Southern-Lakes region have prompted New Zealand’s largest, full-service real estate agency, Bayleys, to expand its professional property management offerings.

The business will welcome four offices currently trading as The Accommodation Centre (TAC) in Queenstown, Arrowtown, Wanaka and Cromwell, under the broader Bayleys umbrella, effective 4th April 2023.

Executives say the change will be a smooth transition, given each of the TAC offices is already owned and managed by Bayleys but has been operating under the TAC monicker.

Bayleys Queenstown director David Gubb says the decision to bring TAC’s offices under the Bayleys banner reflects an appetite for clarity in a rapidly expanding marketplace.

“Bayleys have been a leading presence in the local property landscape since 2013, and we have built a reputation based on trust, proven results and excellent client services.

“With rapid expansion across the Queenstown-Southern Lakes and Central Otago Districts, it is an excellent time to capitalise on our established brand presence to let clients know The Accommodation Centre is wholly backed by the Bayleys brand,” he says.

The Accommodation Centre currently employs 18 property management professionals, maintenance experts and support staff across its four regional offices, which will move to the Bayleys brand, further supporting the agency with its depth of expertise in its residential, commercial, and industrial property management offerings.

“We look forward to expanding our professional property management offerings across the region, enhanced by Bayleys’ innovative back-office support systems and marketing nous.

“This will deliver an enhanced resource for the region’s evolving property needs, with growth projections for Central Otago alone predicting an increase in the current population by 35 percent in the next two decades,” Mr Gubb says.

Bayleys’ operations in Queenstown-Southern Lakes and the Central Otago regions form part of the broader Bayleys Real Estate network, which boasts 101 offices nationwide, employing more than 2,250 executives, professionals and support staff.

The Accommodation Centre’s general manager Richard Hoskin says the brand has become a trusted resource for residential, commercial and industrial property owners, in addition to tenants, during its 36 years in operation and looks forward to delivering unsurpassed property management services under Bayleys’ branding.

Mr Hoskin will stay on as general manager of the four new Bayleys property management branches and says with national initiatives and a strategic partnership with global property consultancy Knight Frank, the incoming team will add depth to their professional relationships – ensuring maximum value is achieved for owners, while enhancing the tenant experience.

“Bayleys has established a reputation for premium services, and its suite of innovative tools, which include in-house resources like data and insights, sales and marketing, ongoing training and substantial support services, offers broad-based upside for our client’s assets and tenant objectives.

“Never ones to rest on our laurels, we will continue to set a new benchmark for professional property management services across the region,” he says.

Resort towns Queenstown, Arrowtown, Wanaka and Cromwell have become key growth areas for the South Island, with residential appeal underpinned by a superb lifestyle proposition in an area famed for outdoor pursuits, adventure and some of the country’s most spectacular natural scenery.

In addition, high population projections continue to increase demand for commercial and industrial operations, with developers identifying opportunities, and establishing new commercial and industrial precincts across the region.

Bayleys managing director Mike Bayley says that strong regional population growth continues to fuel high demand for goods, services and homes, strengthening the fundamentals of a robust residential, commercial and industrial supply pipeline.

“Growth metrics indicate the Queenstown-Southern Lakes and Central Otago regions are a key focus area for the nation, buoyed by the development of significant residential, retail and commercial precincts which will attract new residents and businesses.

“This concentration will support the local economy and increase demand for professional property services, which Bayleys looks forward to supporting as both districts move from strength to strength,” he says.

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