Waikato Business News November/December 2019

Deidre Morris, centre, with the
staff of Waikato Business News at
the site of their new premises.
Exciting times as
restructure sets WBN
up for bright future
FROM DEIDRE MORRIS, DPMEDIA DIRECTOR
(PUBLISHER OF WAIKATO BUSINESS NEWS)
Waikato Business News is embarking on an
exciting new phase, signalled by a shift to new
offices in the heart of Hamilton.
I
wanted to tell you, our
readers and advertisers,
about the changes.
They include our upcoming
move to the historic GE Clark
building on Ward Street, right
at the centre of our growing
city and region.
The changes also include a
business restructure that sees
us well placed to connect even
better with our readers and
advertisers.
I am enthusiastic about
this new stage. My love and
passion for newspapers/print
came from the experience I
had working for Times Media,
a respected newspaper publisher
in east Auckland, from
the age of 19 through to having
my first born Ellie - 14 years
working my way up to group
sales and marketing manager
for both their newspapers and
press. I learnt from the best and
grew my knowledge, experience
and enthusiasm as the
business thrived.
Having made the life-changing
decision to move to Hamilton
19 years ago, I stumbled on
a position with Waikato Business
News and was ready to
leave the little ones a few days
a week, get out of the house,
meet some people and get back
into the industry I loved.
Three months later we
bought the title. WBN has
gone from strength to strength,
increasing turnover over which
meant huge confidence from
advertisers and readers. We
expanded the stable of publications
and, just as importantly,
grew WBN from 16 pages to
the 52 pages it is today.
We have been lucky to have
some of the best editors, young
journos, columnists, sales
execs and graphic designers
- together they have created a
well-read and respected market
leader in WBN, along with
other publications, Showcase
and Agribusiness News.
In recent years a matrimonial
split led to a restructuring
of the business. We are using
the services of a voluntary
liquidator to help with the process,
which is well underway.
My new company DP
Media, which acquired the
above titles, is solid, and continues
to employ and work
alongside the best.
We have exciting plans for
the future, some of which will
be shared at a celebration early
next year of our shift into our
fabulous new premises.
The model won’t change
- print is a highly trusted
medium, and we will continue
to be a must-read for the business
community.
I feel especially confident
about the future success of our
business because I have some
of the most reputable accounting,
banking and law professionals
working alongside me,
a decision I am very pleased I
made at the startup of the new
structure.
I would like to thank all our
very loyal advertisers, readers,
columnists, past and present
employees and new accountants
- the success of Waikato
Business News could not have
been possible without you.
So thank you and watch
this space - it’s going to be an
exciting and fruitful journey.
Apartment living taking off
From page 3 so it ends up being more like 70
percent owner-occupied.”
development. That’s where we Yeoman says he sells
will get the scale we need. And
that’s where we will, I believe,
get more affordable pricing for
a wider range of buyers.
“The question is, how can we
work alongside developers to
get more apartment complexes
built? We need to be partnering
with landowners and businesses
and residents, otherwise none of
these strategies will work. This
is not a city council strategy -
it’s a city strategy.”
Yeoman, who also develops
elsewhere in Hamilton and in
Auckland, says he sells almost
all his properties off the plan,
and 15 Vialou is already sold
out.
He says about 40 percent
of the 12 two-bedroom townhouses
at 1 Vialou sold to owner-occupiers.
“Typically, what I have
found over the years is you get
about that sort of mix. Then,
over a period of two or three
years, the investors sell and
owner-occupiers come along
entirely to Kiwis, often second
generation with their origins
in areas of the world - whether
Asian or European - where
apartment and townhouse living
is common.
“And then you've also got
millennials coming through.”
The 29 properties at 15
Vialou Street will be a mixture
of one-bedroom and two-bedroom,
and the complex is likely
to be finished next spring.
There will be just 23 carparks,
after Yeoman found the
absence of carparks at 1 Vialou
was no barrier to buyers. He
points to Lime scooters, Uber
and Loop carshare as good,
versatile options. “Or if you
want to go away for the week,
you go down the road to the car
rental place and hire a car for
the week.”
Yeoman has also moved into
the Auckland market as Hamilton
land prices have “escalated”
over the past year. “The Auckland
market has been a little
subdued over the last couple
of years, and we've managed to
take out some sites at some very
good prices and be able to do a
lot of townhouses.”
Yeoman says he would be
interested in further Hamilton
CBD development if the opportunity
presents but that partly
depends on the rising cost of
land.
“I really enjoy developing,
I really enjoy doing what I'm
doing. But at the end of the day,
you've got to bring in the economics
of it,” he says.
“The developments that we
have done in the city, we were
lucky to get it within that period
of time where council was very
supportive of that. We would be
looking to the council to see if
they can continue the development
contribution remissions so
that they can encourage more
development.”
Taylor says further development
contribution (DC) remissions
in the CBD aren’t necessarily
the answer. “We already
have a situation where developers
get two thirds DC remission
in the CBD and the council will
decide whether these continue
or get phased out at the next
Long Term Plan in 2021. Personally
at this stage I favour
retaining them but will keep an
open mind.”
Mike Callagher, of Cornerstone
Developments Waikato,
is positive about the industry
and the city but agrees that rising
land prices are an issue. “At
the moment, land's very hard
to find, especially because the
prices have just gone absolutely
nuts.”
He recently completed a
townhouse development at
Hunter Street on the southern
fringe of the CBD and has just
secured resource consent for a
major apartment development
in the central city.
Like Yeoman, he sells virtually
everything off the plan,
which he says is useful given
the time it takes to get consents.
“We've got to be sort of six
months ahead of the next project
so that we roll into it,” he
says.
“They say they're getting rid
The townhouses at 1 Vialou were
fully sold before completion.
of red tape but all they do is ask
for new things every time.”
He cites a recent consent
which should have taken 20 or
21 days but which had a couple
of weeks added because of a
request for information. “It's all
good, I mean, it's fine, but we
just have to plan so much further
forward now.”
Both Neale and Williams
expect a boost for CBD retail
and hospitality from the
increase in central city residents.
“In particular hospitality
supports population growth;
therefore, as the market continues
to grow so will the offerings,”
Williams says.
Neale points out pedestrian
counts over the last 12 months
are already 4.8 percent higher
than the year before. He says
Hamilton is increasingly topical
in conversations with corporates,
central government and
retail brands.
Born and bred in Hamilton,
Mike Callagher develops only
in the city.
“At the end of the day, you
know, we're an awesome city.
Our growth is massive and
we're such a central place to
live.”