Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Commercial property management service expands into Chch

Commercial property management service expands into Christchurch

The ever-quickening pace of the Christchurch rebuild has seen the expansion of one of New Zealand’s leading commercial property facilities management agencies into the city.

Bayleys Property Services has this month grown its capabilities in the city – bringing in a suite of business services delivering a “one stop professional services shop” for clients with commercial and industrial properties, either as investors or as owner/occupiers.

Bayleys Property Services currently manages some 450 properties nationwide on behalf of owners. The portfolio has a combined value of $1.2 billion and is predominantly based in Auckland and Wellington, with some smaller locations as part of bigger chains around provincial centres. National clients include the New Zealand Racing Board, Bridgestone, and Konica Minolta.

Bayleys Canterbury commercial manager Pete Whalan said the expansion of the company’s property management arm into Christchurch was spurred on by the now break-neck speed at which commercial property construction was taking place in and around the city.

“The, suite of business advisory services BPS will offer to the Christchurch market will include lease management, operational compliance, maintenance and capital expenditure forecasts, tenant retention strategies as well as strong financial management services through BPS’ new state of the art management information systems,” Mr Whalan said.

“Quite often, a property developer or owner/occupier’s primary focus is on getting their building up and running as quickly as possible, and future factors such as property and asset management are largely ignored. We are confident that the introduction of Bayleys Property Services will alleviate that lack of attention and allow owners to take a longer-term and more strategic view of their property asset.”

Mr Whalan said the city’s corporate real estate sector was now taking a broader view of working with property managers than simply viewing an agency as ‘rent gatherers’.

“In essence, cutting-edge property management is now about adding value to a client’s real estate asset rather than just milking the rent,” Mr Whalan said

“A good property and asset management firm for example will now look at creating and monitoring a plant and building maintenance plan to ensure the life expectancy of the asset is extended for as long as possible. That programme should, for example, also factor in regular maintenance schedules,” he said.

“Aside from the physical aspects of plant and building maintenance, we also look at offering professional consultancy services with the management of a client’s property affairs – such as analysing insurance coverage, undertaking lease reviews using current market data, tenancy negotiations, and even tenant identification.”

The new Bayleys Property Services division in Christchurch will be led by recently-appointed manager Sam Carnahan who has retuned to the region after 10 years in Australia where he ran property and asset management service teams for both government agencies and large private corporate entities such as Brookfields.

Mr Carnahan said he was drawn back to his native Canterbury by the lure of a rapidly growing economy underpinned by the city’s social and infrastructure rebuild.

“Property management has certainly come to the fore here as a result of the earthquake – with many building owners now conscious of just how important the continuing operation of their asset actually is. As a result, we are forecasting a strong uptake for the property management services offered by Bayleys,” Mr Carnahan said.

ENDS

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Half Full: Dairy Payouts Steady, Cash Will Be Tight

Industry body DairyNZ is advising farmers to focus on strong cashflow management as they look ahead to the 2015-16 season following Fonterra's half-year results announcement today. More>>

ALSO:

First Union: Cotton On Plans To Use “Tea Break” Law

“The Prime Minister reassured New Zealanders that ‘post the passing of this law, will you all of a sudden find thousands of workers who are denied having a tea break? The answer is absolutely not’... Cotton On is proposing to remove tea and meal breaks for workers in its safety sensitive distribution centre. How long before other major chains try and follow suit?” More>>

ALSO:

Scoop Business: NZ-Korea FTA Signed Amid Spying, Lost Sovereignty Claims

A long-awaited free trade agreement between New Zealand and South Korea has been signed in Seoul by Prime Minister John Key and the Korean president, Park Geun-hye. More>>

ALSO:

PM Visit: NZ And Viet Nam Agree Ambitious Trade Target

New Zealand and Viet Nam have agreed an ambitious target of doubling two-way goods and service trade to around $2.2 billion by 2020, Prime Minister John Key has announced. More>>

ALSO:

Scoop Business: NZ Economy Grows 0.8% In Fourth Quarter

The New Zealand economy expanded in the fourth quarter as tourists drove growth in retailing and accommodation, and property sales increased demand for real estate services. More>>

ALSO:

Scoop Business: RBNZ’s Wheeler Keeps OCR On Hold, No Rate Hikes Ahead

The Reserve Bank has removed the prospect of future interest rate hikes from its forecast horizon as a strong kiwi dollar and cheap oil hold down inflation, and the central bank ponders whether to lower its assessment of where “neutral” interest rates should be. The kiwi dollar gained. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news