Whisky and property create wealth
More than 300 Bayleys clients recently gained insight into how global investors are deriving good returns from whisky, classic cars, art and jewellery — as well as from commercial and residential property.
The information was contained in Knight Frank’s Global Wealth Report research paper.
It was presented by a delegation of the agency’s senior executives during a visit to New Zealand hosted by Bayleys.
The Knight Frank team spent time in Auckland and Christchurch delivering presentations, reporting data and key findings from the company’s international research.
The head of Knight Frank’s Global Wealth initiative, Lord Andrew Hay, said the wealthgenerating data was being presented to New Zealanders for the first time — thanks to the new alliance with Bayleys Real Estate which acquired Knight Frank’s New Zealand operations at the end of last year.
Mike Bayley, managing director of Bayleys Real Estate, said the Global Wealth Report underpinned what many Kiwis had known for decades — that the cornerstone pillar of wealth creation around the world was real estate ownership and investment. “The visit to New Zealand by Lord Andrew Hay and his Knight Frank colleagues cements our presence in the property sector.”
“It sees Bayleys truly being part of a global real estate network, while still very much retaining our home-grown Kiwi ownership, operations and best practices,” Bayley said.
“As we learned from the Knight Frank’s report, while the scale of domestic wealth
here is only a percentage of that held by entities in the likes of Asia, Europe and North America, the fundamentals of investment are the same … and founded on holding commercial and residential real estate assets.”
Both Bayleys and Knight Frank have expertise spread across the breadth of the commercial property activity spectrum — ranging from estate sales and advisory services, through to valuations and property management. While Bayleys is strongly connected through New Zealand, Knight Frank has established and extensive operations in key markets including Australia, Southeast Asia, China, Europe and North America.