Real Estate

Ngā Taonga cinema and café to close ahead of office move

The café and cinema at Ngā Taonga Sound & Vision will close at the end of the year, ahead of the office moving next year from Taranaki Street to the National Library building on Molesworth Street. The move of the Wellington office was made necessary with the reclassification of the premises as earthquake prone in …

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Engineers warned council over quake-damaged building’s design

Wellington City Council went against engineering advice when it approved a major waterfront building that ended up irreparably damaged in the Kaikōura earthquake. RNZ story by reporter Phil Pennington BNZ Harbour Quays building. Photo: RNZ / Phil Pennington Engineers who appraised the building raised multiple concerns about the BNZ Harbour Quays including about how much it might …

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Wellington property prices hit a new high for the third consecutive month

The average asking property price in Wellington hit a new high for the third consecutive month in November, climbing 9.4 per cent on last year to $616,700. “That’s a $50,000 increase in 12 months,” according to Head of Trade Me Property Nigel Jeffries. He said every region in the country experienced a year-on-year increase, with …

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WCC vote on $154m convention centre this week

The Wellington City Council will decide on Thursday whether to proceed with a new Convention and Exhibition Centre. Artist’s impression of the proposed convention centre on Cable Street It will consider a proposal that the centre be developed on Council-owned land on Cable Street, opposite Te Papa, at a cost of $154.3million. The building with …

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Consultation closing on a new community for Upper Stebbings Valley

Public feedback on a Wellington City Council plan for a future community in Upper Stebbings Valley and Glenside West closes at 8.00pm next Sunday, 16 December. With 80,000 more people expected to be living in Wellington by 2043, more homes are urgently needed. The Council wants public feedback on a future northern community in one …

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QV data for November shows Wellington house prices still rising

The wider Wellington region recorded a 4 per cent quarterly increase and an 8.1 per cent annual rise in the latest Quotable Value house price index. Content provided by BusinessDesk, “the only business news source you need”. A ten-day free trial is available at https://www.businessdesk.co.nz/ by Jenny Ruth Quotable Value says its nationwide house price index rose 3.5 …

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Consents quashed for $500m Shelly Bay development

The Court of Appeal has quashed resource consents that were granted for a $500 million development in Wellington at Shelly Bay. Story by RNZ Artists impression of Shelly Bay development. Photo supplied. The Court of Appeal found that the Wellington City Council made an error of law when determining whether or not to grant the …

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Last day tomorrow for submissions on quake-prone ‘priority’ buildings

Submissions close at 5.00pm tomorrow, 23 November, for Wellington City Council’s consultation to identify priority earthquake-prone buildings. Some priority buildings are identified by Government legislation and others by councils in consultation with their community. The aim is to ensure the cities are safe for the public and can continue to operate following a damaging quake. …

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Property prices keep rising; Wgtn average now over $600,000

Wellington’s average asking price cracked the $600,000 mark for the first time after climbing 9.9 per cent on last year to reach $602,950, according to the latest Trade Me Property Price Index. The Wellington property market continued its upward trend in October with many districts in the region breaking records. “ The latest rateable value …

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Nine million-dollar suburbs in Wellington as property values skyrocket

Three suburbs that posted average valuations exceeding one million dollars in the 2015 QV adjustment– Seatoun, Oriental Bay and Kelburn – have been joined by six more in the latest round, as values in those suburbs leap nearly 50 per cent. But the increases shown in Broadmeadows, Hataitai, Khandallah, Mount Victoria, Northland, Te Aro and Thorndon were …

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Rents keep rising in Wellington – and nationwide

Tenants in Wellington should expect rents to keep rising, with median rents up 6.7 per cent compared to last year, hitting $480.00 per week in September. And the increases are being experienced all across the region. “While the median weekly rent in Wellington City has seen strong annual growth of 9.3 per cent to $530.00, …

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Consultation starts to identify quake-prone ‘priority’ buildings

The Wellington City Council has opened a Government-required consultation to identify priority earthquake-prone buildings, including those on key transport routes, which will need to be strengthened in a shorter timeframe. Changes to the Building Act following the Christchurch and Kaikoura earthquakes mean ‘priority’ buildings must be strengthened in seven-and-a-half years rather than the normal 15 …

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Heritage buildings in Island Bay, Cuba Street and Newtown receive $715,000 help for strengthening

Four significant buildings in Wellington will receive Heritage EQUIP funding to help with earthquake strengthening in the latest round administered by the Ministry for Culture and Heritage. New Zealand’s Heritage Earthquake Upgrade Incentive Programme, provides private building owners with up to 50 per cent of the funding required for seismic strengthening of heritage listed buildings. …

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Development of Press Hall gets supreme nod at Property People Awards

The development of Press Hall won McKee Fehl the Archaus Urban Design Award and the Greenwood Roche Supreme Award last night at the Property Council Wellington Property People Awards. The awards for the development at 80 Willis Street to 22 Boulcott Street were part of a celebration of the people who are shaping Wellington through …

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NZ house prices rise to new record as dwindling supply saps turnover

New Zealand house prices rose to a record in September as a lack of listings led to fewer sales in the month and longer closing periods, the Real Estate Institute says. by Paul McBeth Content provided by BusinessDesk, “the only business news source you need”. A ten-day free trial is available at https://www.businessdesk.co.nz/ The REINZ house price index …

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Documents reveal conflict over pay for Sir Peter’s museum plan

Documents released by the Wellington City Council show the lengths the council went to get a movie museum built in its planned convention centre. Story from RNZ by Reporter Laura Dooney  @ljdooney [email protected] In August it was announced Sir Peter Jackson and the team behind the museum were walking away from the project. It was first announced in 2015 …

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CentrePort to demolish BNZ building after reaching $170M insurance settlement

CentrePort will have the BNZ building on Harbour Quays demolished after reaching a $170 million settlement with its insurers. by Paul McBeth Content provided by BusinessDesk, “the only business news source you need”. A ten-day free trial is available at https://www.businessdesk.co.nz/ The building has been vacant since the November 2016 Kaikoura earthquake and tenant Bank of New Zealand …

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Grants worth $450k help heritage building preservation

Today’s meeting of the City Strategy Committee approved a recommended grant of $168,500 from the Built Heritage Incentive Fund for strengthening work on St John’s in the City. Photo of St John’s in the City by Luke Jackson Twelve smaller BHIF grants to properties were approved during the Grants Subcommittee meeting on 19 September, but the …

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Dangerous URM façade fixes meet tight deadline

All but one of the potentially unreinforced masonry (URM) façades of 113 Wellington buildings have now been secured. Maguire’s Building, 168-174 Cuba Street; designed by prominent Wellington architectural firm Thomas Turnbull and Son in 1900, and now well reinforced. Photo by Mark Cubey The owners of the offending buildings have had 18 months to secure the …

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Ebert Construction’s tradies, subbies won’t claw back much of $33.8M owed

The receivers for Wellington firm Ebert Construction expect most of the $33.8 million owed to tradespeople and subcontractors won’t be repaid. by Paul McBeth Content provided by BusinessDesk, “the only business news source you need”. A ten-day free trial is available at https://www.businessdesk.co.nz/ PwC’s Lara Bennett, John Fisk and Richard Longman said there isn’t likely to be any surplus …

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Nearly 50 buildings with Grenfell-like cladding identified in Wellington

A high school, a private hospital and several apartment blocks are among the 49 Wellington buildings identified with combustible cladding similar to what fuelled the fatal Grenfell Tower fire in London last year. Report from RNZ by Phil Pennington @pjppenn [email protected] Photo of Grenfell Tower, by ChiralJon (CC2) The Wellington City Council was ordered by the …

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First look at Wellington’s new social housing units

More than 100 new social housing units have been unveiled in Wellington. Report from RNZ, 17 September 2018 The development has one- to four-bedroom apartments and five are designed for people with accessibility needs. Photo: RNZ / Katie Doyle The 104 unit-development, Te Māra apartments in the inner-city suburb of Mount Cook, replaces the 57-unit 1970’s …

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St John’s in the City starts $4.2m earthquake strengthening campaign

St John’s in the City, the 132-year-old Presbyterian church on the corner of Willis and Dixon Streets, launched a $4.2 million fund-raising campaign yesterday. The funds are needed to carry out seismic strengthening to 70% of the New Building Standard on the Category 1 historic building, which is currently deemed “earthquake prone” at 25% of …

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Former leaking building wins top prize

The Green Building Council hopes an award-winning Wellington building will show others that old office blocks can become great spaces. Report from RNZ by Tom Furley, 9 September 2018  [email protected] Aorangi House Photo: New Zealand Green Building Council This week Aorangi House on Molesworth Street won an international green award in Singapore for its sustainable design. The 1970s building had …

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Apartment owners frustrated by lack of help with earthquake safety

Wellington apartment owners are still frustrated by a lack of help for those who cannot afford to make their buildings earthquake safe. Report from RNZ by Laura Dooney @ljdooney [email protected] Photo of Oriental Bay supplied by RNZ Last November Wellington Central MP Grant Robertson said he was urging the government to look at all options to help apartment owners. …

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Wellington bucks trend as NZ house values drop in August

Sept. 6 (BusinessDesk) – New Zealand house values shrank in August as the market cooled in winter, according to state-owned valuer Quotable Value. By Sophie Boot Content provided by BusinessDesk, “the only business news source you need”. A ten-day free trial is available at https://www.businessdesk.co.nz/ National residential property values dropped 1.6 percent in the three months through August to $672,504, …

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Newtown apartments sell off the plans as house prices keep rising

The Wellington property market is showing no sign of slowing down, at a time of year when prices are expected to stall. TradeMe reports that the average asking price for Wellington homes rose 0.2 per cent in June, to $581,500. “There are plenty of buyers actively looking at properties in the capital,” said Head of …

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Special Housing Areas shunned by Council in wake of Shelly Bay decision

An 8-7 vote by yesterday’s meeting of the City Strategy Committee of the WCC removed the special housing legislation that enabled controversial developments in Shelly Bay and Erskine. The legislation enabling nine Special Housing Areas (SHA) in Wellington lapsed this week. Council staff had recommended that this be rolled over until 16 September 2019, in …

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Quinovic Te Aro scores own goal with online campaign – and apology

The Te Aro franchise of the Quinovic property management group has issued an apology after pulling a Facebook advertising campaign that attacked renters. But the apology has failed to satisfy many renters, landlords and members of the public offended by the campaign. Quinovic Te Aro, which recently moved its office from Lambton Quay to Tory …

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NZ central bank vacating Wellington HQ for three months due to asbestos

Content provided by BusinessDesk, “the only business news source you need”. A ten-day free trial is available at https://www.businessdesk.co.nz/ by Rebecca Howard Aug. 10 (BusinessDesk) – New Zealand’s central bank is vacating its Wellington headquarters for about three months to remediate asbestos issues. The central bank’s currency, payments and settlements, and markets operations will not be affected as …

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Reserve Bank building evacuated for asbestos removal

There will be a planned evacuation today from the Reserve Bank building on the corner of The Terrace and Bowen Street so that job of removing asbestos can begin next week. The building houses public service staff from the Reserve Bank of New Zealand, State Services Commission and other organisations, including Defence staff relocated after …

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Wellington house values rise 4.8% with northern suburbs leading sales activity

House values in Wellington continue to rise, though increases for the year to June don’t match those in the Hutt Valley, Porirua and Kapiti Coast. Sales activity is highest in the northern suburbs. Photo by Anete Lusina from Pexels The latest monthly QV House Price Index shows that residential property values across the whole Wellington …

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