Waikato Business News May/June 2018

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8 WAIKATO BUSINESS NEWS May/June 2018 Conversations with Mike Neale of NAI Harcourts Hamilton Misconceptions, Damned Misconceptions - and Statistics The memory is a funny thing and we all seem to remember our childhoods with the long hot summers – my suspicion is that the weather statistics would not support many of our rose-tinted memories. The same can probably be applied to what many recall as the glory days in Hamilton. The recently released Industrial, Office and Retail Surveys suggest that the transition and fall in vacancy rates over the last 10 years has been steady, but actually it has been profound. The Hamilton City Council would suggest they have been the key to this transition, while my strong suspicion is that a lot of this has happened in spite of Council. With the CBD they did in fact open the gates to let residential houses be converted to offices in the suburban areas, which at one stage according to one survey had 27,000sqm of houses being used for offices outside of the CBD. To give credit where credit is due though, Council has closed this loophole and instigated other initiates like the City Living precincts for intensive residential development, and the remission of CBD Development Contributions which has led to us being on the cusp of a revitalised CBD. 8.0% 7.0% 6.0% 5.0% 4.0% 3.0% 2.0% 1.0% 0.0% A Buoyant Outlook for Hamilton Continues Hamilton Industrial Occupancy Rates Leading the way is the industrial sector with an overall occupancy rate of 98.5%, even with the new recently completed developments adding to the total industrial stock surveyed. The majority of new space has been spoken for before construction even began (or certainly completed). In the last 12 month, over 49,000sqm of industrial space was added to the survey, taking the total building area to 1.68 million sqm (heading towards being the same size as the total land area of Monaco of 2.02 million sqm). Te Rapa leads the new development, particularly the southern and northern precincts of Te Rapa Gateway. Industrial land prices in Te Rapa continue to be up to half the rate of key industrial sites in Auckland, while there also remains a reasonably signification differentiation to Tauranga prices as well. The growth to date has also been fuelled by available 25.0% 20.0% 15.0% 10.0% 5.0% 0.0% Mike Neale - Managing Director, NAI Harcourts Hamilton. land for expansion. However, further land for growth is running out, which may be a real issue. Hamilton CBD Office Occupancy Rates In the six months to December 2017, Hamilton CBD office overall occupancy decreased slightly to 93.0%. Although on the surface the increase in vacancy raises concern, there are still a number of factors indicating a positive office leasing environment. The catalyst for the current popularity and demand for high quality refurbished Hamilton Historical Industrial Vacancy Rate Dec-11 Dec-12 Dec-13 Dec-14 Dec-15 Dec-16 Dec-17 Te Rapa North Te Rapa South Frankton Overall B Grade space started in no small way with Stark Property’s purchase of the AMI building in 2013/14. They purchased at a time when Hamilton CBD needed someone to take up the challenge (and opportunity) – since then 10+ vacant or soon to be vacant buildings in the CBD have been extensively refurbished and tenanted, totalling in excess of 10,000sqm of floor space (this does not include Hamilton Central / Kmart – but watch that space too) – all “on spec” with no prior tenant commitment, other than a vision of what they could achieve with the buildings and backing themselves. They should be thanked for the risks that they took on, the stunning environments they have provided for businesses and the wonderful assets that they have created. Without doubt this has given many other developers and investors the confidence to make investments in the CBD, as was evidenced most recently by Ian Cassels of The Wellington Company purchasing the IRD building in Bryce Street. Hamilton CBD Historical Office Vacancy Rate Prime Secondary Tertiary Overall CBD NAI Harcourts Hamilton Monarch Commercial Ltd MREINZ Licensed Agent REAA 2008 Cnr Victoria & London Streets, HAMILTON 07 850 5252 | hamilton@naiharcourts.co.nz www.naiharcourts.co.nz Montana Catering director Dallas Fisher. Montana brand change reflects growing role Iconic Hamilton catering company Montana Catering has announced the evolution of its name to Montana Food and Events to reflect the complexity and professionalism of its operations. “We have always prided ourselves as being an innovative forward-focused company, often ahead of the market,” states general manager Peter Stark. “As such we think it’s the right time to reflect the true nature of our work, the professionalism and standards we seek to achieve and surpass.” While the catering term may have connotations of sausage rolls on a plate and after match bun fights, Montana has always been well ahead of the norm in its operations. Starting from humble beginnings as Montana Restaurant in Victoria Street in the ‘60s, the advent of professional rugby and the opening of Waikato Stadium, as it was known in 2002, propelled the company to the forefront of large scale catering and complex event management. “The stadium took our operation to a whole new level. Serving 1000-plus corporate dinners at All Blacks or Lions fixtures, with the highest food quality and management demanded, changed our game completely,” says Peter. “We want our name to reflect the quality and magnitude of the events and functions we manage, plus the technology incorporated and the creation of magnificent meals using fresh ingredients in a sustainable manner.” The name Montana remains at the forefront as the organisation looks to build on its solid reputational foundation. The foundation is broader than just the provision of high quality functions and events, given the company’s well known community support, highlighted recently by its fifth year as major sponsorship of Hospice Waikato’s Montana Bucket List Dinner. Food remains paramount in the company’s vision with the mantra being – the difference is always on the plate. The aspiration is to produce top restaurant quality food but with the ability to deliver to intimate dinners or large gatherings. The addition of ‘Events’ to the name acknowledges the growing complexity of conferences, functions and major dinners that the company now manages. The logistics, set ups, theming and operation involved in delivering large quantities of meals in confined spaces, regularly to 500 plus customers is being recognised and promoted. Not only are the Montana chefs highly trained and experienced staff members but so are the operations, logistics and front of house team. Director, Dallas Fisher noted that the Montana growth has been exponential in the last few years and that they have created of an umbrella Montana Group brand to link this development. “We now operate extensive catering operations in Auckland and Waikato with a range of major partnerships with key organisations, employing more than 200 permanent staff. Twenty-seven kitchens, one vision.” Montana Food and Events remains the flagship Waikato brand and is the resident caterer at the H3 Suite of venues – FMG Stadium Waikato, Claudelands Event Centre and Seddon Park. It also manages a significant out- catering operation at venues of their clients’ choice. Flame Tree Kitchens is the resident caterer for Auckland University’s Halls of Residence, functions, conferences and a range of retail operations. Like Kahurangi, University of Waikato’s equivalent brand, it is operated by Montana Group in a joint partnership. The company also has significant partnerships in place with Auckland Grammar and St Peter’s Cambridge as it continues to develop its growth within the education sector. They recently launched their Village brand, as a specialist operator at outdoor events with numbers beyond 5000. Their skills were showcased at the HSBC NZ Sevens Tournament in Hamilton and the ACL festival in Auckland earlier this year. “These are very exciting times for Montana Group,” states Dallas. “We continue to grow and forge innovative partnerships and maintain our position as the leading independent caterer in New Zealand.” New boss at Paterson Burn Paterson Burn Optometrists is pleased to welcome Cale Stevenson as its newly appointed chief executive. Cale brings a wealth of experience to this position, with more than 20 years working in the retail space, including for brands such as Foodstuffs and Kathmandu. “We are very fortunate to have Cale join the team,” director Adrian Paterson said. “His business, communication, retailing and understanding of eye care, makes him the ideal person to take Paterson Burn Optometrists into the next stage of our growth.” Paterson Burn Optometrists has been a presence in the Waikato community for more than 90 years and is one of the largest independent optometry groups in New Zealand, with nine practices throughout the Waikato and Auckland. Cale said he is excited to bring his experience to the team and to be given the opportunity to work with Paterson Burn. His skillset includes considerable exposure to research and development, marketing, finance, sales, acquisitions, development, and property. “I look forward to leading such a talented group of people who are incredibly passionate about patients’ needs within the optical space and the community, delivering the best visual solutions possible,” Cale said. Cale replaces Darren Savage who has moved in to an interim CFO position within the business. “I am honoured that the Paterson Burn Optometrists’ board New Paterson Burn chief executive Cale Stevenson. of directors chose me to follow in the footsteps of Darren, who has left the company in an excellent position,” Cale said. “I am also thrilled that I will have the ability to rely on Darren’s counsel over the coming year as he is an exceptional executive and leader.”
WAIKATO BUSINESS NEWS May/June 2018 9 Waikato companies feature in Export finals From left, Mark Evans, Endace Technology, Sneha Tiwary and Sandy Mathur from Helix Flight Manufacturing Machines Ltd, Chris Gardener, David Hallett and Jeremy Hughes from Company-X, Sharon Robertson, ExportNZ Waikato executive officer, Carey West from Loadscan, Angela and Rodney Sharp from Progress Equipment Ltd and Niall Fuller from Hunter Filling Systems. A Gallagher Group representative was not in the photo. Seven Waikato companies are finalists at the 2018 Air New Zealand Cargo ExportNZ Awards in Auckland in June. Seven of the finalist companies are from Waikato. “I’m delighted with the diverse range of finalists we Braemar Hospital have in this year’s awards. It’s important we take time to celebrate and acknowledge the taking good care of you The Waikato finalists est levels in all major racing include heavyweights jurisdictions and NZB’s Karaka success of our exporters,” says Gallagher Group (Westpac Sales Centre is renowned as the Catherine Lye, ExportNZ Auckland Best Large Business for Goods category) and Company-X (BDO Best Medium Business for Services). Others are Helix Flight Manufacturing Machines, Progressive Hydraulics and Loadscan (DHL Best Emerging Business for Goods) and Hunter Filling Systems and (Ports of Auckland Best Medium Business for Goods) primary source of these champion racehorses. Loadscan Limited enables industry to accurately manage loads instead of relying on weight or guesswork. Its system delivers insightful data including 3D load profiles, from a single drive-through scan. Progressive Hydraulics Limited specialises in design, manufacture manager. “Our awards showcase a cross-section of some of our most ingenious and innovative businesses in the export sector,” says Sharon Robertson, ExportNZ Waikato manager. The variety of companies named as finalists demonstrate the vibrancy of the export sector. From primary industry to and Endace Technology Limited and installation of simple tourism, manufacturing and (Baldwins Intellectual Property Excellence in Innovation). Helix Flight Manufacturing Machines Limited specialises to complex hydraulic industrial and mobile systems. The Hamilton-based company claims its patented SharpGrade, ScapeRake high-tech services, judges were impressed with the calibre and range of companies which made it through to be finalists. in producing machines to manufacture and Katipo are simple, easy This year, the category sectional helix forming machines. These are used in the production of augers, screw conveyors, agitators, and many other screw flighted products. Its to use with low operating costs and exported worldwide. Company-X is a fast-growing software specialist company which designs and develops winners from the respective ExportNZ regional awards programmes automatically qualify for entry into the New Zealand International Business Awards world leading technology “Manufacturing bespoke software solutions. (NZIBA), run by New Zealand Machinery” and Clients include large, multi-na- Trade and Enterprise (NZTE). “Design Software” enables the tional, businesses headquartered The collaboration between • • Gallagher Group Limited Asia Pacific 2017 index of the programme of awards for 2018, • flexible design and manufacture of highly accurate flights. overseas. It is ranked on the Deloitte Technology Fast 500 NZTE and ExportNZ will create a cohesive and exciting is a global leader in designing 500 fastest growing technology companies in the region. end of the year. culminating in the NZIBA at the • ground-breaking animal management, security and fuel sys- Hunter Filling Systems Limited ExportNZ Auckland and • tems solutions. As a successful has been designing and manufacturing ExportNZ Waikato are divisions liquid and powder of the Employers and Manu- private company in New Zealand, Gallagher employs more filling systems for more than facturers Association. The 2018 Ask for Braemar than 1000 staff worldwide 55 years. It also provides heat awards will be presented at a throughout North America, sealing, lidding, cap tightening black-tie gala dinner on Thursday, Europe, Asia, South Africa, Australia and New Zealand. New Zealand Bloodstock is a leading thoroughbred bloodstock company servicing an and container handling equipment. Hunter Fillers are simple to operate, easy to clean, fast and accurate. It prides itself on its after sales service, maintenance June 28 in Auckland. The other two categories are the Air New Zealand Cargo Supreme Winner (selected from the winners of award categories international customer base and reconditioning. 1-6) and the Auckland International Airport Exporters Cham- through its auction house, airfreight, Overall, there are 27 finalists Waikato insurance, and finance in seven Branch categories (see below) pion (for – exemplary Upcoming services to events/courses operations. New Zealand thoroughbreds perform at the hightered in Auckland and Waikato. the awards evening from 25 companies headquar- export), which are announced at June. At the Institute of Directors we’re on the pulse of governance. Connecting, equipping and 10-11 April 2018 CPD: 14 points Waikato Branch IoD Leadership Conference – Upcoming events/courses inspiring directors through thought SKYCITY Auckland leadership and our extensive At the Institute of Directors At network, the Institute professional Directors governance we’re on the pulse of governance. we’re courses, on the events pulse and of resources. governance. Connecting, equipping and Connecting, equipping and inspiring directors through thought inspiring directors through thought leadership and our extensive leadership and our extensive network, professional governance network, professional governance courses, events and resources. courses, events and resources. Waikato branch is kindly sponsored by: 16 5 June May 2018 10-11 April 2018 10-11 Governance Emerging April Director 2018 in a private Award equity applications investment open! context IoD Leadership Conference IoD Speaker: For Leadership more Peter information, Conference Tinholt, please Oriens Capital contact Waikato Branch Manager SKYCITY Auckland SKYCITY 12.00pm Auckland – 2.00pm, FMG Stadium Waikato CPD: 2 points CPD: 14 points CPD: 14 points 16 May 2018 CPD: points 16 38 July May 2018 and 29 May 2018 CPD: 2 points Governance in private equity investment context Governance ‘Emerging Director in and a private Decision-Making Award equity Dinner investment Series” at the Reserve context Bank of New Zealand Speaker: Peter Tinholt, Oriens Capital Speaker: 5.00pm – Peter 7.00pm, Neil Quigley, Tinholt, Gothenburg Oriens Chair, Capital Reserve Restaurant Bank of New Zealand 12.00pm 2.00pm, FMG Stadium Waikato 12.00pm ** for more – 2.00pm, information, FMG Stadium please contact Waikato Waikato Branch Manager To register, please contact: Megan Beveridge, Branch Manager Waikato.branch@iod.org.nz, 021 358772 or www.iod.org.nz To register, please contact: To Megan register, Beveridge, please contact: Megan Branch Beveridge, Manager Branch Waikato.branch@iod.org.nz, Manager Waikato.branch@iod.org.nz, 021 358772 or www.iod.org.nz 021 358772 or www.iod.org.nz J7018P Waikato branch is kindly sponsored by: Waikato branch is kindly sponsored by:
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Waikato Business News May/June 2018

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