Joint Ventures
McDougall Reidy & Co has been involved in a number of joint venture projects where it has been clear that both parties are able to bring strategic value to the project.
For example:
- The Gate industrial park was sold prior to its completion to Macquarie Goodman on the basis that McDougall Reidy & Co entered into an incentive related development management agreement for the balance of the development. This enabled Macquarie Goodman to buy into a prime industrial development prior to its completion and McDougall Reidy & Co to maintain its involvement;
- The Hub (Auckland) was initially a joint venture with AMP Henderson Global Investors, who were the owners of the adjacent Botany Town Centre shopping mall, thus ensuring the compatibility of the development with the town centre;
- Carlaw Park in Auckland is a development commenced through a joint venture with Auckland Rugby League who were the owner of the land. This relationship brought property expertise and funding to the Auckland Rugby League whilst concurrently providing participation for McDougall Reidy & Co in a strategically located development. McDougall Reidy & Co subsequently purchased the land when Resource Consents for the development were obtained.
McDougall Reidy & Co maintains a strong interest in the joint venture approach.
Latest property news
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Direct Property is pleased to announce the registration of a short form renouncable rights issue prospectus and investment statement on Friday, 4 November.
November 15, 2011
9:06 am
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Direct Property is pleased to announce the acquisition of 558 Te Rapa Road, Hamilton.
October 20, 2011
9:14 am
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Direct Property is pleased to announce the acquisition of 92 - 98 Harris Road, East Tamaki.
September 26, 2011
10:33 am
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Direct Property is pleased to report Quest Albany is now operational. Quest's 15 year initial lease term will commence 1 September 2011.
August 31, 2011
1:31 pm
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Direct Property Fund is pleased to announce a new six year lease has been entered into with Exclusive Tyre Distributors (NZ) Ltd at 23 Zelanian Drive, East Tamaki, Auckland.
July 6, 2011
3:51 pm
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June 13, 2011
1:01 pm
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Printing firm's move to Swanson Road a sign sector is picking up, says agents.
May 21, 2011
4:08 pm
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Direct Property is pleased to announce the sale of 9 Pacific Rise, Mt Wellington for $7 million.
May 9, 2011
2:30 pm
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Direct Property is pleased to announce the sale of 11 Amber Crescent, Tauranga for $560,000.
April 28, 2011
10:58 am
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Direct Property is pleased to announce the sale of 15c Amber Crescent, Tauranga for $3,550,000.
March 28, 2011
2:11 pm
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Direct Property is pleased to announce that Astron Plastics Ltd has extended it's current lease term out by a further six years to 31 May 2017.
March 25, 2011
1:37 pm
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Direct Property Fund is pleased to report that progress at the Quest Albany site is progressing well.
February 25, 2011
1:51 pm
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Pracitical completion has been achieved and Southern Spars have begun operations on site.
December 15, 2010
11:27 am
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Direct Property Fund has commenced works on site for the 38 unit Quest Serviced Apartments.
December 15, 2010
11:24 am
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Direct Property Fund Limited has commenced fit-out works at 9 Pacific Rise, Mt Wellington.
November 1, 2010
11:12 am
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Direct Property Fund is pleased to announce that a new 10 year lease has been entered into with Transport Trailer Services Limited at 312 Neilson Street, Penrose.
November 1, 2010
11:10 am
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