1982
THE
ACT
UNDER
Vendor report
INFORMATION
RELEASED
109 New Homes, Auckland and Wellington
Week two: 14.02.2025 – 21.02.2025
OFFICIAL
Vendor Kāinga Ora
Salespersons Gerald Rundle, Jason Seymour and Grant Young
Weeks on market Two
Method of sale Deadline Private Treaty (will not be sold prior) closing 4pm, Thursday 13th
March 2025 at Bayleys House, 30 Gaunt Street, Auckland
bayleys.co.nz/1698758
Residential / Commercial / Rural / Property Servic 1
es

Campaign overview
Friday 21st February 2025
Dear s 9(2)(a)
We are pleased to provide you with our second vendor report in relation to residential portfolio in Auckland and
Wellington offered for sale by Deadline Private Treaty closing Thursday 13 March 2025.
Summary of key focus
This week, we have undertaken the following:
• Responding to new enquiry
• Working with the enquiry from the initial marketing
1982
• Personally contacting prospective purchasers
• Undertaking inspections
THE
Marketing
ACT
Print marketing in the New Zealand Herald and Dominion Post will continue for the next two weeks with ongoing web
listings
• Bayleys Feature Listing
• Hougarden Standard Listing
UNDER
• OneRoof - Feature Commercial Listing
• Realestate Commercial Feature Listing
• Trade Me (Commercial Sale) - Base Listing
• Trade Me (Commercial Sale) - Feature Listing
• Standard Listing on Interest.co.nz
Enquiry
Overall, there has been a very good level of response generated from the marketing to date and the direct contact
INFORMATION
with prospective purchasers confirming the campaign is being effective in reaching our target market.  New enquiry
has continued to come through this week, including parties registered from the wider Bayleys agency network. We
remain generally satisfied with the interest levels being generated.
RELEASED
Interested parties have been provided with the Information Memorandum, access to the Due Diligence data room
(qualified parties only)  and, as required, a copy of the rental assessment pack.  As parties are working through the
documentation and their initial due diligence we are receiving additional questions, requests to clarify information
and property inspections.
Comments from the enquiry so far have generally been around understanding the source of the portfolio, the
circumstances around the offer and seeking clarity around the high level information provided in the Information
Memorandum.  Some parties are starting to come through with more specific questions as they progress their due
diligence and we anticipate this to increase from this time on.
OFFICIAL
s 9(2)(ba)(i)
2

s 9(2)(ba)(i)
All enquiry is being followed up to gauge their level of interest, answer any questions and obtain feedback.  For the
individual comments, please refer to the enquiry list.
Feedback on the market has highlighted:
• The opportunity has triggered good interest across the market and a desire to understand more about the
opportunity.
• Funding for this type of product can be difficult particularly from traditional banks
1982
• Enquiry sees opportunity in the portfolio but pricing and associated level of discount may be significant to
achieve desired outcomes, holding costs, sell-down period, marketing and other risks.
THE
• Most groups seem to be considering the whole portfolio.  The next most likely buyer would be for a single project
for a specific need or location.
ACT
• Current market conditions for residential property remain difficult with significant excess unsold completed stock.
• It is interesting how many market participants have assumed the portfolio is connected to Duval. After discussion,
this seems to be around similar timing rather than unclear marketing
• Where a view has been expressed around pricing, most seem to be thinking a 30-50% discount to market.
• There portfolio is facing high levels of competition with high levels of on and off market bulk residential schemes
being put buyers – either land,  part completed developments or developers looking to exit residual stock.
UNDER
• Some offshore capital seeking greater scale.
• Purchasers who want to sell down would need significant discount to overcome the fact they have previously
been for sale from developers for a while so will suffer from over exposure
Parties who have eliminated themselves from the sales process have given a variety of reasons, but the major ones
are associated with:
• Have been unable to secure interest from equity sources.
• Secondary locations of the projects.
INFORMATION
• Current high level of unsold residential stock in the market that are similar typology to the portfolio.
• For Wellington, oversupply of rental properties
RELEASED
• CHiPs lacking funds although desire is high
• An assumption that High level of discount (50% plus) anticipated to be applied would not be acceptable to the
vendor.
• Require control of all the units within a development eg BTR
At this point, 3 parties have declared that they will be submitting a bid on the closing date with many others still
working through the material available before making a decision on whether to participate or not.
OFFICIAL
Media
The New Zealand Herald carried a story by Anne Gibson on the portfolio sale this week.  We believe the story
provided good exposure and the content was not considered detrimental to the marketing campaign
Outstanding Information
We look forward to receipt of the approved Sale and Purchase Agreement (Deadline Private Treaty)
3

Summary
We are now through the second week of the campaign.
At this stage of the campaign, we are happy with the effectiveness of the marketing and progress being made. The
level of enquiry has been encouraging and the team will continue to make direct contact with key targets as well as
follow up with registered parties to qualify their interest and to assist them with their understanding of the
opportunity.
We look forward to discussing this report next week. Should you have any queries beforehand, please do not hesitate
to contact us.
Kind regards,
Gerald Rundle
Jason Seymour
Grant Young
+64 27 286 4620
+64 21 607 999
+64 21 988 613
[email address]
[email address]
[email address]
BAYLEYS REAL ESTATE LTD, AUCKLAND CENTRAL,
BAYLEYS REAL ESTATE LTD, AUCKLAND CENTRAL,
CAPITAL COMMERCIAL 2013 LTD, BAYLEYS,
LICENSED UNDER THE REA ACT 2008
LICENSED UNDER THE REA ACT 2008
LICENSED UNDER THE REA ACT 2008
ACT 1982
INFORMATION
RELEASED UNDER THE
OFFICIAL
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Enquiry/feedback
Rating Name
Company
Comment
s 9(2)(a)
s 9(2)(b)(ii)
1982
THE
ACT
UNDER
INFORMATION
RELEASED
OFFICIAL
5

Enquiry/feedback
Rating Name
Company
Comment
s 9(2)(a)
s 9(2)(b)(ii)
1982
THE
ACT
UNDER
INFORMATION
RELEASED
OFFICIAL
6

Enquiry/feedback
Rating Name
Company
Comment
s 9(2)(a)
s 9(2)(b)(ii)
ACT 1982
INFORMATION
RELEASED UNDER THE
OFFICIAL
7

Enquiry/feedback
Rating Name
Company
Comment
s 9(2)(a)
s 9(2)(b)(ii)
1982
THE
ACT
UNDER
INFORMATION
RELEASED
OFFICIAL
8

Enquiry/feedback
Rating Name
Company
Comment
s 9(2)(a)
s 9(2)(b)(ii)
1982
THE
ACT
UNDER
INFORMATION
RELEASED
OFFICIAL
9

Enquiry/feedback
Rating Name
Company
Comment
s 9(2)(a)
s 9(2)(b)(ii)
1982
THE
ACT
UNDER
INFORMATION
RELEASED
OFFICIAL
10

Enquiry/feedback
Rating Name
Company
Comment
s 9(2)(b)(ii)
s 9(2)(a)
1982
THE
ACT
UNDER
INFORMATION
RELEASED
OFFICIAL
11

Enquiry/feedback
Rating Name
Company
Comment
s 9(2)(a)
s 9(2)(b)(ii)
1982
THE
ACT
UNDER
INFORMATION
RELEASED
OFFICIAL
12

Enquiry/feedback
Rating Name
Company
Comment
s 9(2)(a)
s 9(2)(b)(ii)
1982
THE
ACT
UNDER
INFORMATION
RELEASED
OFFICIAL
13

Enquiry/feedback
Rating Name
Company
Comment
s 9(2)(a)
s 9(2)(b)(ii)
ACT 1982
INFORMATION
RELEASED UNDER THE
OFFICIAL
14

Enquiry/feedback
Rating Name
Company
Comment
s 9(2)(a)
s 9(2)(b)(ii)
1982
THE
ACT
UNDER
INFORMATION
RELEASED
OFFICIAL
15

Enquiry/feedback
Rating Name
Company
Comment
s 9(2)(a)
s 9(2)(b)(ii)
1982
THE
ACT
UNDER
INFORMATION
RELEASED
OFFICIAL
16

Enquiry/feedback
Rating Name
Company
Comment
s 9(2)(a)
s 9(2)(b)(ii)
1982
THE
ACT
UNDER
INFORMATION
RELEASED
OFFICIAL
17

Enquiry/feedback
Rating Name
Company
Comment
s 9(2)(a)
s 9(2)(b)(ii)
1982
THE
ACT
UNDER
INFORMATION
RELEASED
OFFICIAL
18

Enquiry/feedback
Rating Name
Company
Comment
s 9(2)(a)
s 9(2)(b)(ii)
1982
THE
ACT
UNDER
INFORMATION
RELEASED
OFFICIAL
19

Marketing activity
Magazine
Date
Total Property magazine + e-magazine – Bespoke Double Page
07 Feb 2024
Print media
Date
NZ Herald OneRoof Commercial press advertisement (Saturday) 10cm x 11col
08 Feb 2025
1982
The Dominion Post - Commercial press advertisement Saturday 3 x 6
08 Feb 2025
THE
NZ Herald OneRoof Commercial press advertisement (Saturday) 10cm x 11col
15 Feb 2025
ACT
The Dominion Post - Commercial press advertisement Saturday 3 x 6
15 Feb 2025
NZ Herald OneRoof Commercial press advertisement (Saturday) 10cm x 6col
22 Feb 2025
UNDER
The Dominion Post - Commercial press advertisement Saturday 3 x 6
22 Feb 2025
NZ Herald OneRoof Commercial press advertisement (Saturday) 10cm x 6col
01 Mar 2025
The Dominion Post - Commercial press advertisement Saturday 3 x 6
01 Mar 2025
Digital media
Views
INFORMATION
Bayleys
322 views
RELEASED
TradeMe
872 views
OneRoof
347 views
Realestate
1,072 views
OFFICIAL
20

Advertising examples
Total Property magazine – 07 Feb 2025
1982
THE
ACT
UNDER
INFORMATION
RELEASED
OFFICIAL
21

Advertising examples
Capital Markets eDM – 10 Feb 2025
1982
THE
ACT
UNDER
INFORMATION
RELEASED
430
55.81%
10.93%
Sent
Open rate
Click rate
OFFICIAL
22

Advertising examples
Corporate Projects eDM – 13 Feb 2024
1982
THE
ACT
UNDER
INFORMATION
RELEASED
179
24.0%
4.1%
Sent
Open rate
Click rate
OFFICIAL
23

Advertising examples
NZ Herald OneRoof Commercial press advertisement 10cm x 11col
1982
THE
NZ Herald OneRoof Commercial press advertisement 10cm x 6col
ACT
UNDER
INFORMATION
RELEASED
OFFICIAL
24

Advertising examples
The Dominion Post - Commercial press advertisement 3 x 6
1982
THE
ACT
UNDER
INFORMATION
RELEASED
OFFICIAL
25

Advertising examples
bayleys.co.nz
1982
THE
ACT
UNDER
Activity report 14 Feb – 20 Feb 2025
INFORMATION
RELEASED
OFFICIAL
26

Advertising examples
Trademe.co.nz
1982
THE
ACT
UNDER
INFORMATION
Activity report 14 Feb – 20 Feb 2025
RELEASED
OFFICIAL
27

Advertising examples
Oneroof.co.nz
1982
THE
ACT
UNDER
Activity report 14 Feb – 20 Feb 2025
INFORMATION
RELEASED
OFFICIAL
28

Advertising examples
Realesate.co.nz
1982
THE
ACT
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Activity report 14 Feb – 20 Feb 2025
INFORMATION
RELEASED
OFFICIAL
29

1982
THE
ACT
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INFORMATION
RELEASED
OFFICIAL
Bayleys Auckland Central
Bayleys House, 30 Gaunt Street,
Wynyard Quarter
09 309 6020
[email address]
Disclaimer: The information contained in this report is given in good faith and is derived from sources believed to be reliable and accurate. However neither
Bayleys nor any person involved in the preparation of this report accepts any form of liability for its contents.
Residential / Commercial / Rural / Property Services

Document Outline