50 | REGIONAL DEVELOPMENT Mackersy Property: 128 Spey St T T Russell Fredric Regional roots driving strong growth Mackersy is currently developing a prime inner city site in Spey Street on behalf of Hokonui Rūnanga and Murihiku Regeneration. “We put these kinds of groups together to buy good quantum buildings, anywhere from $5 million to $100 million, really long leases to really good tenants.” Mackersy Property’s strong regional roots have seen it grow to manage more than $2.2 billion of assets, becoming New Zealand’s largest private property investor, investment and transactions director Adam Copland says. The company has offices in Queenstown, Christchurch, Dunedin, Tauranga and Hamilton to support its management of more than 200 commercial properties and 460 tenants nationwide on behalf of more than 2,800 investors. Many of the commercial and industrial buildings are iconic landmarks in cities and towns from Kaitaia to Invercargill. Mackersy Property’s expert asset, property and facilities management teams work together to ensure all assets perform at their peak over the long term, with each property acquired on behalf of investors expertly leased to strong tenants on secure leases, providing robust income streams. Mackersy Property has been behind many prime property developments in the south. “We do end-to-end commercial property investment and management, ideally buying a new property before its built, running it through the construction and development phase and then finding various types of investors to own it long term, and we manage on their behalf,” Adam says. Southland-born, he attributes Mackersy’s outstanding success to its team working hard over a long period of time to find investment-grade high quality commercial property. “And we’ve been really well supported by a strong group of loyal investors,” he says. The company’s investors are often people who have sold a farm, business or house and are looking to achieve better, low risk, longterm returns than can be achieved by banks. “We put these kinds of groups together to buy good quantum buildings, anywhere from $5 million to $100 million, really long leases to really good tenants.” Commercial investments offered by Mackersy Property offers a much lower risk, hassle-free option compared to residential property, with the advantage of regular cash flow, Adam says. “All of our returns are paid monthly, rent gets paid monthly and you get the benefit of the underlying capital upside as well.” In Invercargill, high profile Mackersy Property developments include Bunnings, Kmart, and Findex. Mackersy is currently developing a prime inner city site in Spey Street on behalf of Hokonui Rūnanga and Murihiku Regeneration. It comprises a 1300sqm two-storey office/ administration building being built by Amalgamated Builders for the Department of Conservation to house up to 80 staff. Subject to a 15-year lease, it is the perfect example of the type of investment Mackersy Property develops and manages for its clients, Adam says. “Murihiku have a relationship with DOC and then we have a good relationship with Murihiku, so we assisted in negotiating the lease and developed the project for Murihiku.” Due to a change in government during the design and feasibility stage, the originally planned four storeys was pared back to two storeys, and a much simpler design approved by the National Government to make it more commercially feasible to lease. “Construction started in June last year and Construction Cost Consultants Project Managers Southern Quantity Surveyors 109 Gala Street, INVERCARGILL Ph: 03 218 6544 Web: www.sqs.co.nz We are proud to be providing financial administration and engineer to contract services on this landmark Mackersy Property: 128 Spey St “Every dollar counts” we’re due to hand over to the tenant at the start of June this year so that’s a 12 month build phase.” Based on Mackersy Property’s experience, there has been a strong North Island/South Island split in commercial development, reflecting the buoyant southern rural economy, Adam says. “We think it’s coming out of the bottom of the trough slowly. “In the last five to seven years we’ve been very active in a lot of parts of the country: Tauranga, Auckland, and Hawkes Bay; however, we’re only really doing developments at the moment in Southland and Central Otago.”
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