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Fresh start

Relocating to new-build premises offers a wealth of opportunities for those ready to embrace the change, meeting future needs and fostering growth.

The scout motto “be prepared” is the best strategy for occupiers looking to navigate a new-build lease commitment.

Bayleys’ national director commercial leasing, Matt Lamb says while many office occupiers are still mulling over what their optimal workplace looks like, the “big guns” in the corporate world are strategising moves to new higher amenity premises with military-like precision and saying, “let’s do this”.

“We recommend a runway of 4-plus years when looking to consider new-build projects to ensure that all options remain open and allowing sufficient time for the initial market search, education, evaluation, and feasibility processes.

“With Bayleys’ expertise and proven structured approach, we offer a streamlined process that makes planning easy and efficient so that the transition to new premises is as seamless as possible.”

Lamb says the initial evaluation process with occupiers is crucial to uncover efficient corporate space requirements into the future, and financial decisions loom large.

“As they have typically occupied a building for an extended term, their current premises are no longer fit for purpose. Décor is outdated, the space doesn’t align with their operational needs or 'new norm' of working, and does not support their sustainability goals or provide the desired level of amenities for staff.”

In Auckland, there are numerous new-build office projects underway and in the planning stages that show the sector is in good heart, says Lamb.

“Mansons’ new 7-level twin-block project Thirty Daldy in the Wynyard Quarter is underway, and Precinct Properties is firming up plans for a mixed-use development on the Downtown Carpark site.

“There’s a new office building on the cards within the Britomart precinct, and a vibrant commercial hub is planned for the former Food Alley on Lower Albert Street. Further afield, several office developments are in the works or earmarked for Manukau, Newmarket and the southern corridor, including Stage 2 of Marewa Road, Central Park, and Sylvia Park.” Scott Campbell, national director industrial says business owners need to have runway of around 2.5-3 years for the planning and delivery of new-build industrial premises.

Ahead of committing to a new-build, Campbell says lines of communication between occupiers and developers need to be wide open, the materials and equipment budgets/costings must be realistic, and all necessary infrastructure should be in place prior to occupation.

“It sounds obvious but roading, power and water to the actual site need to be locked in and you should look at all the information about major roading upgrades in the wider area, including expected timeframes for delivery of any significant infrastructural work.”

Campbell also urges occupiers to ensure that any contract allows early access prior to lease commencement for the installation of racking and other bespoke fitout so that the process is efficient and streamlined.

“Naturally this would mean occupiers should have the relevant insurance cover in place to run alongside that of the main contractor.”

Despite a more subdued development market, Campbell says the industrial sector has been boosted by some exciting projects that will change the face of the precincts they are occupying.

“DHL Supply Chain has committed to around 20,000sqm of life science facilities including temperature and humidity-controlled areas and cold chain storage across two new Green Star-rated buildings within Auckland Airport’s award-winning The Landing Business Park in partnership with Stride Property and the airport.

“The state-of-the-art facilities will support DHL’s sustainability commitments and will be an outstanding example of the latest industrial building trends.

“Meanwhile, NZ Post is operational at its massive new automated processing centre in Wiri, and Cardinal Logistics’ third-party logistics warehouse is underway in Drury. This will be the country’s first fully-automated 3PL logistics warehouse.”

On the retail front,'s Commercial Building Consent Analysis shows just 25,708 sqm of new retail space was consented in Q1 this year – the third lowest in any quarter since 2010.

Bayleys’ national director retail, Chris Beasleigh says while the delivery pipeline of new stock has slowed down, there are still new-build premises available with a couple of prominent developments of note helping to fly the retail flag.

“Contemporary inner-city retail space available now in the new Elizabeth Towers development in Tauranga’s CBD, and the forthcoming opening of Auckland Airport’s premium fashion outlet centre, Mānawa Bay with more than 100 stores, shows that occupiers do have choice in the market.”

Beasleigh says in general, allowing enough time ahead of a move to a new building is the best advice occupiers can take onboard.

“The red tape and regulatory side of the coin can be a handbrake to progress and things like getting building consent can take much longer than you envisage.

“Make sure you have realistic timelines from your consultants, designers, and contractors, ensure you’ve done all the fitout costings – with contingencies factored in – and have everything lined up and ready to go once you get the green light.”

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