The value of proven results.
MB Cook is Canterbury’s most established commercial and industrial real estate specialist. Our proven performance is underpinned by close to a century of experience and results.
MB Cook is Canterbury’s most established commercial and industrial real estate specialist.
Our proven performance is underpinned by close to a century of experience and results.
At MB Cook we deliver the best possible outcome for owners and tenants in the commercial and industrial property sales and leasing market. We achieve this by working hard, tailoring our approach and negotiating prudently.
We are proud of our history, proud of our track record, and proud to be known as successful local specialists.
The value of a company
Our understanding of the commercial and industrial property market and our commitment to genuine service has set us apart since the beginning of the business in 1928. Working honestly and developing long-term relationships is what our reputation is built on.
Delivering true value is our focus. We partner with our clients to understand their needs, provide honest advice and feedback, and to secure the best deals and outcomes.
- Understanding the market
- Understanding your needs
- Providing honest advice and feedback
- Securing the best deals and outcomes
Market InsightsSummer 2018
As I pen this newsletter I pause to reflect on the year to date and the roller coaster ride we have experienced. Yes, we have had some softer months but aligned with this we have also experienced some outstanding months. Yes, a lot of the transactions concluded were of a smaller nature but for MB Cook every transaction is a winner and means a satisfied landlord and contented tenant.
We were fortunate to have Eric from Aon and Kerri from IAG come and address the team recently. Three significant points came out of our discussion that I feel should be conveyed to both landlords and tenants.
Firstly, there are insurance companies out there still offering new policies on buildings that fall short of the 67% NBS and are above the 34% NBS. Obviously there are terms and conditions that need to be met, but it’s pleasing to hear that there is this option.
Secondly, subject to certain criteria, insurance companies will generally consider transferring existing commercial policies to the new building owners, the exception would be “As is where is” properties. This is great when you are in a purchasing position! Finally, (and this point is certainly one to be aware of) when entering into a new lease agreement, before signing off the agreement check with your insurer that your new tenant’s business is one that is allowable under your current policy. You may find that if there is a change in business operation from your site you cannot make a claim against your current policy. The tenancy can also affect premiums paid by other occupants in the same building. Be aware and keep up to date with details of your policy.
The Overseas Investment Act
Changes have been made to the Overseas Investments Act as of the 22nd October 2018. The majority of commercial transactions will not be affected by this change however if you are transacting a property that includes a portion dedicated to residential living then you will be required to fill out an OIO form before settlement. MB Cook have received a Purchaser acknowledgement form from the Real Estate Institute New Zealand REINZ that will require your completion at the time a contract is entered into if it includes a residential component.
Anti-Money Laundering legislation
The AML Act as it affects Real Estate, comes into effect as of the 1st January 2019. We at MB Cook have contracted AML Assist to guide us through this process. We don’t believe it will have a major effect to our day to day operation, however we will update you on the process closer to the commencement date.
Enjoy the summer,