Business North May 2021

| 79 REAL ESTATE NAI Harcourts Real Estate Hamilton CBD continues resurgence T Sue Russell Industrial vacancies in Hamilton are currently tracking at 1.2%. H amilton’s NAI Harcourts Real Estate has a team of 10 agents and five support staff, plus a commercial property man- agement and body corporate division, now numbering six, based in its central Hamilton office. Managing Director of the company’s com- mercial arm, Mike Neale, joined the company in 2012. He holds a strong commitment and connection to seeing the centre of the city thriving and is positive about the phenomenal growth in apartment/retail/office precincts dotted around the city. Recollecting the impact the Global Financial Crisis had on the real-estate sector Mike says that a similar sense of uncertainty arose when Covid-19 arrived so suddenly. “We actually didn’t know at the start just what impact the lockdown and long-term im- pact of dealing with this pandemic would be. It’s been an interesting journey,” Mike says. A number of unique factors are now impact- ing on the city’s growth in terms of industrial and commercial development, including, its position in the ‘Golden Triangle, of Auckland, the Bay of Plenty and Waikato regions. “We’ve traditionally had sufficient land to expand and compared with Auckland our housing is relatively affordable. Hamilton has increasingly become a desirable place to live and work, fuelling strong demand in both the residential and commercial sectors.” Businesses in other regions are also being drawn to establish manufacturing and dis- tribution plants in the Waikato, as the area grows increasingly towards being a logistics hub. Of future concern, says Mike, is the fact that the city is running out of industrial land on which to expand. “There’s certainly no shortage of developers looking for opportunities and I’m especially pleased to see the large Peacockes hous- ing precinct establish itself in the Southern quarter of the city boundary. We can’t keep growing north,” Mike says. “Industrial vacancies are currently tracking at an amazingly low 1.2%, which reflects our desirability and affordability,” he says. “One of the reasons why NAI Harcourts has such a strong presence in the commercial real-estate realm is the way the company is structured. “We operate differently from most other commercial agencies. We have a system where those in the team have particular geo- graphical areas of responsibility and speciali- sation. We believe this gives us real depth of understanding and knowledge, with an ability to give the best advice to our clients. We carry a history of how a particular city zone has evolved and can see opportunities that this presents.” Mike recollects when he started working in commercial real-estate nearly 20 years ago, Hamilton’s main street was very quiet. “The impact of developers such as Stark Property particularly, but also the likes of Tainui Group Holdings and Foster Develop on the city has been profound. This is not only about these large projects, but importantly it includes many smaller developments and refurbishments taking place, where smaller businesses operate.” And demand is also high from people want- ing to live in the CBD, where developers have reclaimed large blocks of disused inner-city commercial space and built apartment blocks and mixed use apartment/retail premises. Mike says the decision in 2017 to relocate the office right back in the heart of the city was strategically very important. “It’s really about having connection with a visible and accessible presence, which has been signifi- cant for us.” Asked what skills go into making a great commercial real-estate agent Mike says its about being prepared to work hard, giving people good advice and being very responsive to how the market is evolving, from one day to the next. “When you’re negotiating between two par- ties it’s about brokering the gap that always exists. To do this you have to be very honest. It’s about the outcome, so finding the com- mon-ground to move negotiations forward productively is the key.” Mike is optimistic about Hamilton’s future and in the inner-city development that is bringing vibrancy back into the CBD. He wants to see more incentives offered to developers to access guidance and advise from Hamilton’s Urban Design Panel, which exists to support development for quality pro- jects, ones that will add to the look and feel of the city and add value for years to come. Plants for hire in Waikato, Bay of Plenty and beyond A team passionate about ensuring your plants are happy, healthy and thriving. Contact us today for an obligation free consultation 19 Wood Road, Koromatua (Temple View), Hamilton 07 848 1134 or freephone 0800 873 326 info@tree.co.nz | www.tree.co.nz