World-class waterfront hotel planned for downtown Auckland

Press Release – Colliers International

World-class waterfront hotel planned for downtown Auckland

Auckland, March 18, 2017

A world-class luxury hotel is planned for the last remaining waterfront site in downtown Auckland.

Viaduct Harbour Holdings Limited has announced plans for the redevelopment of One Market Square, a site at the heart of the Viaduct Harbour that was previously occupied by the Simunovich Fisheries building.

Angela Bull, Chief Executive for Viaduct Harbour Holdings Limited, says the waterfront site is exceptional, directly facing the Viaduct Harbour on two sides and with stunning views of Auckland.

“Viaduct Harbour is an outstanding lifestyle precinct in Auckland with unrivalled access to the water, quality restaurants, apartments and an international marina. One Market Square is perfectly positioned for a world-class hotel that will add to the vibrancy and attractiveness of the precinct.

“We know that Auckland is critical to New Zealand’s tourist market and there is a clear need for luxury hotel accommodation in the CBD,” she says. “A luxury hotel has many synergies with the amenities and attractions located in the Viaduct Harbour and will act as a catalyst to attract even more visitors to the area.

“With 165 rooms, and a rooftop bar proposed, we see this development as adding to the desirability of Viaduct Harbour and the continued investment in the precinct and surrounding area.”

Colliers International has been appointed to undertake a global search for a world class development partner to build a luxury hotel on the site.

Dean Humphries, National Director of Hotels for Colliers International, says New Zealand is in the midst of the strongest tourism boom in its history.

“As the country’s tourism capital, Auckland is the main beneficiary of the 3.5 million international visitors that came to our shores last year,” he says.

“The surge in visitor arrivals in recent years has led to a critical shortage of quality hotel accommodation in the city with an immediate requirement for new hotels.

“The New Zealand Government predicts that Auckland will likely need another 4,300 new hotel rooms over the next decade to keep up with current demand projections.

“The timing is right for this unrivalled site to be developed to its optimal use. Real estate development opportunities are often exaggerated. That’s far from the case here – this site is genuinely unique.”

Humphries says new hotel rooms are needed in all market segments, and the new waterfront hotel would cater to the exclusive luxury market.

Bull says the company is looking for a suitable development partner who will build a world-class, iconic waterfront hotel that all Aucklanders can be proud of.

“We want a landmark development that will complement the many great buildings already built or underway in the wider Viaduct Harbour and Wynyard Quarter area.”

The preliminary design by Warren and Mahoney, a leading architectural firm behind some of New Zealand’s most iconic buildings, will be made available to the successful development partner.

The design offers a floor area of 12,000sq m on a 1,288sq m site. With the waterfront on two sides of the site, the hotel’s views across the harbour and beyond will never be built out.

Bull says the development partnership model will keep the strategic waterfront land in New Zealand ownership, while opening the project up to beneficial foreign investment.

Colliers International will be marketing the development opportunity via an international expression of interest campaign closing on 2 May 2017.

ENDS

About Colliers International:

Colliers International Group Inc. is a global leader in commercial real estate services with 15,000 professionals operating from 403 offices in 68 countries. With an enterprising culture and significant insider ownership, Colliers professionals provide a full range of services to real estate occupiers, owners and investors worldwide. Services include brokerage, global corporate solutions, investment sales and capital markets, project management and workplace solutions, property and asset management, consulting, valuation and appraisal services, and customized research and thought leadership. Colliers International has been ranked among the top 100 outsourcing firms by the International Association of Outsourcing Professionals’ Global Outsourcing for 10 consecutive years, more than any other real estate services firm.

Founded in Australia in 1976, Colliers International is the largest locally formed real estate services firm with professionals worldwide. Find out more at www.colliers.co.nz

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About Viaduct Harbour Holdings Limited:

The owners of Viaduct Harbour Holdings Limited are long term investors who have significant experience in transforming underutilised land into world class urban environments. One principal area of investment is the holding of long term freehold land subject to ground leases. The award winning transformation of the Viaduct

Harbour into a world class commercial and residential precinct has seen VHHL responsible for an almost $1 billion land holding in Auckland City.

VHHL takes great pride in its relationship as a strategic partner with the organisations it aligns itself with. Working with commercial tenants such as Fonterra, Microsoft, and IBM; and upscale hotels such as the Sofitel and The Sebel Viaduct Harbour, as well as exceptional premium residential developments such as Lighter Quay and The Point, VHHL has a proven record with leading commercial and government organisations.

Find out more at www.viaduct.co.nz

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