Archive for the 'Property Development' Category

Swiss-Belhotel sign Queenstown property

By Emma Gardiner on August 21, 2013

Swiss-Belhotel is set to make its entry into New Zealand with the signing of a resort outside Queenstown.

Swiss-Belhotel International Chairman, President and owner, Gavin Faull, a New Zealander by birth, said he is proud to bring the rapidly growing brand ‘home’.

“Swiss-Belresort Coronet Peak Queenstown is the closest resort to the Coronet Peak ski field and this lends an exclusivity that is perfect for well-heeled international travellers and aspiring skiers and snowboarders,” Faull told HM.

Swiss-Belhotel International is doing a full rebrand of the property and planning to raise its rating to four stars. This will include the introduction of additional conference and meeting space and outdoor hot tubs as well as upgrades to leisure facilities including spa and sauna, petanque, volleyball, croquet, badminton, ski waxing and drying rooms as well as Queenstown’s only ten pin bowling alley.

The resort’s location provides easy access to the Onsen Hot Pools – a natural geothermal hot tub connected to the Shotover River which itself offers an extensive range of water sport activities.

The launch of Swiss-Belresort Coronet Peak Queenstown brings the Hong Kong-based group’s portfolio to more than 120 hotels, resorts and projects ranging from 2-star to 5-star classifications across Asia, the Pacific, China and the Middle East.

Online article at:  http://www.hotelmanagement.com.au/2013/08/21/swiss-belhotel-sign-queenstown-property/

August 30 2013 | Property Development | No Comments »

Tim Manning comments on Swiss-Bel Queenstown

Norwich Properties and Tim Manning – New Zealands most experienced property developer is thrilled to have engaged Swiss-Bel as the operator or its latest Hotel in Queenstown. It plans to work with Swiss-Bel to roll out further hotels around New Zealand to complement their 120 hotels in Asia to date. Tim Manning likes doing deals with Kiwis, especially successful ones and Tim is very excited about the partnership of Swiss-Bel Resort Queenstown.

Swiss-Belhotel rebrands ski resort in New Zealand

TTGasia – Article by Hannah Koh, Queenstown,

Published August 22, 2013

SWISS-BELHOTEL International will take over the management of Coronet Peak Hotel and rebrand it as the company’s first New Zealand property, the Swiss-Belresort Coronet Peak.

The upscale resort is situated within the ski playground Coronet Peak and was previously running under independent management.

Swiss-Belhotel is set to fully rebrand and launch extensive upgrading on the property to meet four-star standards, and will add extra conference and meeting space as well as outdoor hot tubs.

Swiss-Belresort Coronet Peak general manager, Marcus Kennan, said the resort would remain operational throughout the refurbishment process. “We are lucky we can close different accommodation wings of the hotel and carry out work, without impacting the guests staying with us. Total scheduled completion date is the end of March 2014.”

Gavin Faull, chairman, president and owner of Swiss-Belhotel International said in a press release: “Swiss-Belresort Coronet Peak Queenstown is the closest resort to the Coronet Peak ski field and this lends an exclusivity that is perfect for well-heeled international travellers and aspiring skiers and snowboarders.

“Queenstown is an immensely popular destination in both the summer and winter months, with June to September seeing droves of snowboarders and skiers descend upon Coronet Peak’s 280 skiable hectares and extensive, state-of-the-art snowmaking installations…This guarantees a long season.”

The resort offers 75 rooms and a range of leisure facilities including a spa and sauna, pentaque, volleyball, croquet, badminton, ski waxing and drying rooms, Queenstown’s only ten-pin bowling alley and an après-ski restaurant and bar.
Online article at: http://ttgasia.com/article.php?article_id=21568

August 28 2013 | Property Development and Tim Manning | No Comments »

Auckland’s 39,000 Homes Target ‘Hard to Believe’ – Tim Manning

Auckland has almost no chance of reaching a housing accord’s target of 39,000 new houses in the next three years, a property developer says.

The accord, announced on Friday by the government and the Auckland Council, allows for the fast -tracking of certain developments while the city waits for its unitary plan to take effect in three years.

It has set “aspirational” of 9000 new homes next year, 13,000 the year after that and 17,000 in 2016.

Building consents in the city remain in the doldrums, with fewer than 5000 being issued in the year to March, equating to only three new houses per 1000 people.

Building boom unlikely

And developer Tim Manning of Norwich Properties says it is extremely unlikely the city will be able to reach the lofty targets included in the housing accord.

He says the accord is a good one and will give a boost to property development in the city, particularly by speeding up the consenting process.

But whether the industry can achieve a big increase in new building activity will come down to factors beyond the control of the government or the council.

“I find it hard to believe it can be realistic. Where on earth is this going to come from?

“The lack of supply is so entrenched with so many reasons, that to say all those will go away and they’ll build 39,000 houses in the next three years is hard to figure out.

Mr Manning says a new build rate of about 6000 houses a year in Auckland is more likely.

One of the major roadblocks is the ability to source finance for big residential property developments.

“The banks have got money and they’re happy to lend but the ratio they’re willing to lend to is not where it was so you still need a big chunk after the bank. The number of places you can get it from has declined,” he says.

“With most of the finance companies gone there aren’t many options for getting $10 million to 20 million. You can try private individuals but they are buying land to land bank and doing their own thing. This is one of the key handbrakes to new supply.”

Limited capacity

Another issue is whether the construction industry has enough capacity to lift the building rate in such a short time, Mr Manning says.

“I don’t think so. All the labourers are heading to Christchurch. You’ve got Mainzeal missing and two or three more you hear are a bit wobbly. The sector needs to build up its resources again.

“A lot of those big contractors are just buying low-margin work to keep their staff going. They only have to have a couple of jobs go pear-shaped and they have no slack in their balance sheets. It’s precarious.”

Although the market is difficult, Mr Manning has high praise for Auckland mayor Len Brown, who negotiated the accord with Housing Minister Nick Smith.

“The Auckland Council has been most proactive and helpful, more than I’ve seen in 25 years. There’s absolutely been a change in attitude, it’s really positive.”

“When you ring them and say you’ve got this idea they’re responsive to that. It’s obviously come from Len Brown, who’s told them ‘you have to work with developers rather than against them’.”

 

 
Source: http://www.nbr.co.nz/article/aucklands-39000-homes-target-hard-believe-developer-nk-p-140059

May 19 2013 | Property Development | No Comments »