Brent Melville

New Zealand

Senior Financial Journalist at The National Business Review

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Articles

Tech the last to go, as WFH becomes ‘so last week’

1 week ago | nbr.co.nz | Brent Melville

Tech the last to go, as WFH becomes ‘so last week’ ‘There was a big rush to downsize quickly and now everyone’s coming back, so it could be an interesting few years,’ IWG country manager says. Back to the office for work for AWS global and NZ staff. Amazon Web Services’ ‘return to the office’ edict across the cloud computing giant’s 33 geographies reflects the end game for the tech sector’s post-pandemic remote working experiment.
Port not a ‘revenue tap’ to turn on and off – freight sector - NBR | The Authority since 1970

1 week ago | nbr.co.nz | Brent Melville

Port not a ‘revenue tap’ to turn on and off – freight sector Sector accuses Auckland Council of overreach as the country’s second-largest port surprises freight companies and port users by ramping up port access charges. Port of Auckland. The freight sector has taken issue with the Port of Auckland and its Auckland Council owner after the port suddenly ramped up its port access charges, which are now due to peak at $230, or 77% above current levels.
Goodman and Mercer take $350m stake in Highbrook fund

1 week ago | nbr.co.nz | Brent Melville

Goodman and Mercer take $350m stake in Highbrook fund Hiving off a minority stake in Highbrook Business Park seen as a more attractive option than an equity issue. Highbrook Business Park. Fund manager Mercer and property investor Goodman Group will take $150 million and $200m stakes respectively for a minority 27.7% of a new Highbrook Fund from Goodman Property Trust (GMT).
Auckland’s Future Fund awaits an investment manager

1 week ago | nbr.co.nz | Brent Melville

Auckland’s Future Fund awaits an investment manager Meanwhile, its proceeds are gathering dust in term deposits. The Future Fund was created with the $1.31 billion Auckland Council received from the sale of its airport shares. Auckland's Future Fund returned $17.7 million for its first four months – a net return of just 4.37%. The return is well under the 7.64% average gross return promised to its parent, Auckland Council, over the long term.
Precinct’s new York, Feng Shui and islands in the sun

1 week ago | nbr.co.nz | Brent Melville

Precinct’s new York, Feng Shui and islands in the sun Two of the year’s biggest deals are brewing on Glendowie’s Riddell, while a Hauraki Gulf island hits the market for a cool $60 million. Auckland’s eastern enclave of Glendowie will be home to at least one major deal in the coming weeks, with an offer in hand for 489 Riddell Road, understood to be ahead of the $13 million asking price.
Property Income Fund looks to retail, signals possible IPO

1 week ago | nbr.co.nz | Brent Melville

Property Income Fund looks to retail, signals possible IPO Willis Bond’s investment offshoot says it’s about a third of the way to getting to the ‘critical mass’ required for a public offer. The Manukau Supa Centa. Property Income Fund's $161 million purchase of Manukau Supa Centa could set it on the path for an initial public offer, once it hits "critical mass" of about $1 billion under management, it says.
John Copson's Crown group loses Supreme Court bid

1 week ago | nbr.co.nz | Brent Melville

Law Misuse of confidential planning and consenting information case will head to a hearing to determine 'account of profits' due.
Council rejigs spending plan by $1.4b, adjusts DC rates

1 week ago | nbr.co.nz | Brent Melville

Council rejigs spending plan by $1.4b, adjusts DC rates Developer pushback has seen Auckland Council sharpen its pencil across its investment programme, but they have 'no idea how things work in the real world', developers say. Widening existing pavements, rather than replacing and adding new lanes, as with this Glen Innes road, could save $242m.
Captive market: Resido tenants average $20k at Sylvia Park

1 week ago | nbr.co.nz | Brent Melville

Captive market: Resido tenants average $20k at Sylvia Park Kiwi Property Group's $220 million punt into the build-to-rent market is now at 88% occupancy, with growth faster than expected and the spinoff benefit being bigger spending at next door's Sylvia Park. Resido build-to-rent, at Sylvia Park. New tenants at Kiwi Property's Resido build-to-rent development have pushed their average spend at next door Sylvia Park by more than three times prior to moving into the complex.
Pushing NZ Super age to 67 a ‘no brainer’ – Luxon - NBR | The Authority since 1970

2 weeks ago | nbr.co.nz | Brent Melville

Pushing NZ Super age to 67 a ‘no brainer’ – Luxon Prime Minister says while there's little political consensus on the issue, his view is the age needs to change now. Christopher Luxon. Prime Minister Christopher Luxon says National will look to increase NZ Super qualification age to 67 and will go to the next election on that platform. “I can look at Canada, the UK and Australia which are either there or heading there.