“In many ways Auckland’s CBD is trailing behind the
city fringe. Nonetheless, property values are holding up
well with plenty of development and investment underway,”
says James Kellow, Director of New Zealand Mortgages
& Securities (NZMS).
commercial property lender says what has hit the central
city hardest is not the economic fall-out from Covid-19, but
the City Rail Link and other major infrastructure
projections which have effectively closed off large parts of
“Downtown Auckland will
bounce back and continue to reinvent itself as it always
has. Once upon time council prohibited people from living
there, then it was filled up with international students,
backpackers, and Airbnbs. Now we have high-grade apartments
and a 5-star Park Hyatt in Wynyard Quarter. Twenty years
ago, the bottom of Queen Street was littered with $2 shops,
then in came Gucci and other labels. Change is the only
certainty,” he says.
Mr Kellow says
while the CBD is now congested with orange cones, the
America’s Cup at the end of summer will give a sugar boost
to the downtown economy. Then once the $5b City Rail Link is
completed in late 2024, Auckland will see some development
of convenience retail and the likes around the new
underground train stations and more residential conversion
of 1990s commercial offices.
some observe that 2020 may change work habits forever, with
more people working from home and meeting via Zoom, the head
of NZMS believes the need for quality commercial office
space will not diminish.
some consultants and some smaller SMEs have exchanged their
leases for the kitchen table, but serious businesses can’t
do this. They need the personal interaction, workplace
engagement and sharing of ideas. They’ll keep demanding
high-quality, well located office space and developers will
keep building it with obsolete buildings then
As for commercial
property owners and investors abandoning the CBD, that’s
not going happen either, according to James
“Where else are they going
to put their money? Property asset values continue
to increase, and sure rental yields are now well below 5%,
but that’s still considerably higher than bank deposit
rates which are now converging on zero. We’re not seeing
headlines about big buildings in the central city changing
ownership, because they’re not for sale.”
likes of strata titles are being picked off, but funds and
property syndications are struggling to secure significant
product in the CBD. They know advertising a good return in
the current environment will see ‘mum and dad’ investors
flock to solid ‘bricks and mortar’
security. But again, there’s just not the stock
as property owners don’t want to sell.”
many landlords have taken a hit this year, but the good ones
will survive, knowing that flexibility trumps vacant
premises. Lazy or greedy landlords are the ones most at risk
of losing tenants.
“Landlords are having to give
many tenants a leg-up but at the same time they know their
yielding asset continues to appreciate. The medium to
long-term lease income profile remains strong, and of course
business and consumer confidence eventually
Mr Kellow says as New Zealand heads out of
the immediate global health crisis and into a post-Covid
economic recovery, two things weigh in the central city’s
favour: Domestic spending and Government
“We’re seeing more domestic travel
with Kiwi families bringing the kids to Auckland for
example. At the same time, Aucklanders are spending their
money on their homes or themselves. In fact, it’s hard
getting a reservation in a good restaurant at the moment.
Most are doing okay, with the lifting of restrictions and
summer set to further boost people’s social
He says with Auckland’s commercial
capital the shopfront of New Zealand’s fastest growing and
largest region, it will always attract significant council
and government investment.
“Less than 10% of
Aucklanders live or work in the CBD, but it will always
attract public money and projects. The Government is now
keener than ever to spend to stimulate economic activity.
This should involve funding worthwhile CBD capital projects
in Auckland Council’s City Centre Masterplan which have
been deferred for years.”
James Kellow says rather
than doom and gloom, perhaps we’re in a honeymoon period
with high Government expenditure, strong property growth,
record low borrowing costs all while New Zealand’s place
and reputation in the world continues to
New Zealand Mortgages &
Securities is a specialist property financier. They have
assisted with delivering nearly $2 billion of property
development funding throughout
Thinking about ordering some CBD online from a reputable source, but the lab results say it has .20% THC? Can I have this shipped?
I’m in Michigan. Really want to try this but I’m worried about shipping it to my apartment and having it get seized or getting in trouble or something.
I want to put the link to the website but I’m not sure if I can source so I’ll just say the brand is pretty reputable I just don’t know if I could get in trouble for this and what the likelihood of that would be.
Like I said it’s CBD flower but it still has larger amounts of CBD unlike most CBD in Michigan which has .3% or less (legal limit.)
Anyone think I’d be fine to order it?
Lifter 💚 21.6% CBDa
Visit our community site for vetted suppliers at http://theCBD.place. It’s time that this subject was given more internet exposure. We are here to discuss topics related to medical marijuana and our experiences using CBD. Please do not assume that anyone here is a medical professional.
I believe I was scammed by Peace CBD. Has anyone heard of this brand? HELP!
Hi, thank you for your time!
My grandparents are avid CBD users, and always order from the same brand. Around 3 months ago they received a package with a bottle of Peace CBD oil in it which they had not ordered, but they had lots of family staying at their house for Christmas and thought it must have been an order placed by somebody else. But they received another in late January, and now they realized they have been charged $100 a month, all by different billing companies across the USA, and they believe it is for these bottles of CBD. They have obviously not opened or used them, and I have had little success tracking down any information about this company online. The only posts on Reddit I was able to find under “Peace CBD” all seemed weird and scam-like, and contained the following two weird scam-like links. I was hoping someone has heard of this company or a similar scam.
(My grandparents think these scammers could have possibly gotten their information from a CBD trial they had signed up for about a year ago when they were finding a brand of CBD they liked.)
Any help or information is much appreciated!
This last link is what comes up if you click on the attached link to “Buy Peace CBD today” on the ap article. It is not even the actual bottle of peace cbd.
Thank you so much!
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