120 | PROPERTY NZ Moray Self contained, beautifully restored Heritage Apartments in picturesque Queens Gardens. Available for short and extended stays. THE TERMINUS APARTMENTS 021 0562450 theterminusapartments@gmail.com theterminus.staydirectly.com contractors of choice Painters & Decorators JAMES WREN & CO LTD 50 Carroll Street PH: 03 477 9384 www.wrens.co.nz EST 1896 Contracting • Painting, Decorating • Programmed Maintenance • Tiling • Solid Plastering Logan Moodie 027 387 7442 info@thedangleman.com Long-term thinking the key Commercial office buildings form the core of NZ Moray’s portfolio. T T Russell Fredric Long-term thinking shapes every decision at NZ Moray Property, where protecting and enhancing commercial assets is measured in decades rather than market cycles. Established 35 years ago, the Dunedin-based business manages commercial property on behalf of a family-owned investment group with a strong commitment to Otago. General manager Mirko Harnisch says the company’s philosophy has remained consistent: acquire quality assets, reinvest in them and position them to perform well into the future. “Our philosophy is very much a long-term philosophy. It’s about how we look after the asset and how we carry that value over to the future by reinvesting and adapting to what Dunedin is all about. Dunedin has a long history, and we try to reflect that in what we do,” Mirko says. Commercial office buildings form the core of NZ Moray’s portfolio, complemented by industrial property, car parks and a rural property. At the centre of that portfolio is Otago House, the company’s flagship building on the corner of Princes Street and Moray Place, which reflects much of its long-term strategy. Originally completed in 1987, Otago House was later expanded with the addition of three floors while the building remained fully operational. Rather than pursuing a new site, NZ Moray chose to maximise the potential of an existing asset — an approach Mirko says still guides the company’s thinking today. “You look at your property and think, what can we do to enhance the value of what’s already there? It’s about making the most of what you’ve got. You observe the market, understand local trends and then move when you’re ready, but only after you’ve done your homework.” Local knowledge underpins that approach. While NZ Moray once held properties elsewhere in New Zealand, it chose to consolidate its portfolio in Dunedin and Otago, believing proximity enables faster decisions, stronger relationships and better care of each asset. The business currently manages five properties with a small, experienced team. Mirko describes that expertise as one of NZ Moray’s greatest strengths. Among its team is property manager Serina Murphy who is celebrating 20 years with the company this year — a milestone that reflects the continuity valued by both the business and its clients. Protecting asset value also means preparing buildings for tomorrow. NZ Moray is installing solar generation, reviewing HVAC systems and continually upgrading its buildings to improve efficiency, sustainability and resilience while maintaining competitive operating costs. “Resilient is a good word to keep in mind when thinking about a strategy for a property. Ideally, you want something that’s able to weather the various challenges thrown at it by the market, the environment and changing circumstances.” The commercial office market has changed significantly since COVID, with employers placing greater emphasis on creating workplaces people want to return to. Attention has shifted beyond office space itself to amenities, flexibility and the overall tenant experience. “For a good office space today, you’re competing against working from home to some extent. You want a proposition that encourages people to come into the office. That means quality fit-outs, outdoor spaces, end-of-trip facilities, good transport options and enabling tenants to create the kind of workplace that suits their people.” For NZ Moray, maintaining occupied, high-performing buildings comes back to balancing the needs of owners and tenants alike. Investments in resilience, modernisation and workplace amenity are designed to protect asset value while ensuring properties appeal to quality tenants for years to come.
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