October/November 2020 - Bay of Plenty Business News

SPECIAL FEATURE –
TAURIKO BUSINESS ESTATE
October/November 2020 BAY OF PLENTY BUSINESS NEWS 15
into a commercial or industrial
investment and people generally
buy and hold,” he said.
“And we getting more and
more first-time investors who
are residential people shifting
their focus.” One of the key
attractions was the continuity
and reliability of both landlords
and tenants, he said.
“I’ve had residential investors
come to me for industrial
and have one now on his seventh
property. He’s never had a
week without a tenant. He’s an
exceptional landlord and that
word gets out.”
Hunt strongly believes in
Tauriko’s potential and is always
an investor himself.
“I am always on the property
and new investors should
ensure they build a relationship
with their agent and that
the agent can deliver tenants.
“I have a following in that
part of the market. So if anyone’s
going to tenant them it
will be me and my team.”
Hunt has appointed Christy
Arundel, a licenced sales person
specialising in the Tauranga
CBD and Tauriko, as his
second-in-charge.
He described Arundel –
who won a “Client’s Choice,
Customer Service, Individual”
award at the recent Ray White
International Awards – as “an
exceptional talent”.
The Ray White commercial team at Tauriko: Christy Arundel, Philip Hunt, Kate Bosworth, Michael McMichael, Ivy Shen, Antony Lee and David Herman.
Ray White International Awards
At the competitive annual Ray
White Commercial International
Awards held virtually on 27
August, local Ray White Commercial
Tauranga received a series of
accolades.
Commercial Tauranga was recognised
for excellence in customer
service receiving the coveted Customer
Service “Clients’ Choice”
ferYoung’s lay of the land
Award for the fourth year in a row.
Commercial Tauranga was Awarded:
• Clients Choice – Customer Service
– Commercial Tauranga
Office
• Clients Choice – Customer Service
- Individual – Philip Hunt
• Clients Choice – Customer Service
– Individual – Christy Arundel
• Philip Hunt – Elite Performer
(Alan White)
• Philip Hunt – No. 5 Commercial
Agent Internationally
• Kate Bosworth – Finalist (one of
the top three internationally) for
PA of the Year
Philip Hunt achieved Ray White
Commercial Salesperson of the
Year for the fifth year in a row and
was honoured as an Elite performer,
ranking him among the top two percent
of Ray White agents in the country’s
more than 180 branches.
“It is an honour to be recognised
as one of the best performers not only
in Commercial, but within the whole
Group,” said Hunt. “The awards
demonstrate the commitment and
energy within our boutique Tauranga
Commercial Team.”
PROPERTY VALUERS
TelferYoung’s lay of the land
’s happening with Tauriko land prices?
of industrial sites in Tauriko show steadily
No job is too big or too small
asing land values. In 2016, prices were
minantly in the mid-$200s per square metre
his increased What’s to mid-$300s happening per with square metre
Company profile
Tauriko land prices?
17, then low to mid-$400s per square metre
ost of the Sales Stage of 3 industrial sections sites in mid-2019. in Tauriko Most
tly in early show to mid-2020 steadily increasing there have land values.
of sales, In 2016, with prices the were sales predomi-
of medium
been a
d amount
nantly in the mid-$200s per square
ge sized sites metre typically and this sitting increased in to the mid- mid-high
/m2 range, $300s up to per mid-$500/m² square metre depending 2017, on
nd location. then Smaller low to mid-$400s sites sell per at square higher rates,
corner sites. metre for most of the Stage 3 sections
in mid-2019.
have land prices Most recently increased early so much? to mid-
2020 there have been a limited
market and localities in which they operate. W
amount of sales, with the sales of
No job is too big or too small.
rice of land is determined by supply and
to develop and maintain strong ongoing
medium to large sized sites typically
also sitting a function in the mid-high of the value $400/ of Telfer Young Tauranga's Commercial Valuation Team
relationships the company with our was known clients. for many
nd and is
leted buildings m 2 range, less up the to mid-$500/m² costs of construction.
depending
values on are size assessed and location. by
Where can TelferYoung assist?
years as Middleton Valuation. In
trial property Within our 2011 team we joined we have the specialists TelferYoung in rural,
erting the Smaller rental sites value sell (market at higher rent) rates, as into
commercial group and which residential is represented properties. by 13 This in
TelferYoung Tauranga’s commercial valuation team.
do corner sites.
leading independently owned valuation
practices throughout New
, using an appropriate investor return
Often, TelferYoung are engaged by our clients prior to the issue of a title, apartments, orchards, pastoral properties,
talisation Why rate). have Since land 2015/16, prices Tauriko has yields across with the wider instructions commercial to provide Where a can valuation TelferYoung of the vacant tine land valuation for mortgage commercial and industrial buildings and resid
that requires the client
been provide prepared, us with the plans, specifi-
dwellings. Each of the practices has an
Zealand.
significant increased growth in so market much? rents. This, property market funding has of had the a multiplier
effect next on the step values in of the indus-
valuation process is to provide an ‘as cations, proposed’ consents value and preferably of the established history within their
settlement. assist? Once building plans have
ined with decreasing yields across the wider
The price of land is determined trial properties.
Often, TelferYoung are engaged by building contract.
respective region, and in-depth
ercial property by supply market and demand has had and is a multiplier the completed project off plans. This is based on the assumption that
also Whilst construction costs have our clients prior to the issue of title, This will be the start of an ongoing
relationship that often involves ities in which they operate.
knowledge of the market and local-
t on the values a function of industrial of the value properties. of completed
have buildings also less increased the costs during of offset this these valuation gains slightly, that this requires is uation the client of the vacant provide land us for with mort-plans, insurance specifications, valuations, rent reviews We aim to develop and maintain
Whilst the building development is complete. This is a relatively routine
also increased during this time to with instructions to provide a val-
ruction costs
to offset these construction. gains slightly, this is only only minor consents and the resulting and preferably effect gage the funding building of the contract. settlement. and periodic market valuation strong ongoing relationships with
Industrial property values are is that land values have increased. Once building plans have been updates.
our clients.
r and the resulting assessed by effect converting is that the land rental values The escalation This will in be land the values start of prepared, an ongoing the next relationship step in the valuation
rent reviews process is and to provide periodic an ‘as market Company valuation profile
cialists in rural, commercial and
that often involves
Within our team we have spe-
increased. value The escalation (market rent) in into land value, values has been exacerbated insurance valuations, in Tauriko
exacerbated using in an Tauriko appropriate due investor a shortage return due of to a shortage of land in Tauranga’s
the other
proposed’ value of the completed
residential properties. This includes
apartments, orchards, pas-
in Tauranga’s (capitalisation other industrial rate). areas and
updates.
industrial areas and project off plans.
TelferYoung Tauranga has 12
Since 2015/16, Tauriko has seen the relatively slow release of sites This is based on the assumption valuers, comprising nine registered toral properties, commercial and
vely slow release of sites in Tauriko, which
significant growth in market rents. in Tauriko, which has seen pent up that the building development is valuers and three graduate valuers. industrial buildings and residential
een pent up This, demand. combined with decreasing demand.
complete. This is a relatively rou-
Initially formed in the late 1960s, dwellings.
TelferYoung Tauranga has 12 valuers, compris
registered valuers and 3 graduate valuers. Initi
formed in the late 1960s, the company was kno
for many years as Middleton Valuation. In 2011
joined the TelferYoung group which is represe
by 13 leading independently owned valuation
practices throughout New Zealand. Each of the
practices has an established history within the
respective region, and in-depth knowledge of
COMMERCIAL COMMERCIAL
RURAL RURAL
RESIDENTIAL RESIDENTIAL
telferyoung.com