Creating winning property relationships
By Peter Scott | Property Leasing | Thursday 6th October 2011
There are two words that have come to mean a great deal in the late 20th and early 21st century: property and relationship.
Perhaps they are words that have meant a great deal for many centuries, but somehow I think today we place enormous importance on relationships and property.
Well, after all, they relate to some very primal needs; shelter, and the need to survive as social beings.
So why am I talking about this today?
Auckland businesses face an interesting time in the coming months as business confidence picks up, major event such as the Rugby World Cup hit town, and commodity prices continue upwards.
The Christchurch earthquake has the whole country reeling, for people both close to the tragedy and those far away.
I’ve been reading through some of the latest research on the commercial property market in Auckland and found two key trends.
I’ve been talking for some time now about how much of a tenant’s market it is for leasing property. It’s been keeping us busy working with clients looking to negotiate good deals and take advantage of the over supply of commercial space. And if you are in the right position, it is a very good time to move.
Over the past few years I’ve written a number of times about the Australian influence on the New Zealand property market. First it was, “The Aussies are coming”. Then it was, “The Aussies are here”. And most recently, “The Aussies are here and they are us”.
The great majority of us still have some pretty old fashioned ways of thinking about property.
I was browsing through some blogs and online articles about commercial property leasing in the United States and it dawned on me (not for the first time!) how limited our systems in New Zealand are for tenant representation.
Clients I speak with regularly say the commercial property market has become increasing stressful and complex. So much so, that it inhibits businesses from making decisions about future locations; whether to upsize, downsize, move or stay.
Adverse weather conditions can put enormous pressure on even the best of tenant/landlord relationships.
Research is showing that the high vacancy levels in commercial lease property in New Zealand is a trend that looks set to stay for the next couple of years.
In the past few months I’ve noticed a definite trend towards organisations searching for new premises.