New role in Christchurch
Bayleys Canterbury has made a strategic appointment to bolster its capital markets and corporate leasing team.
Jesse Paenga has joined its Christchurch office and will work closely with William Wallace, Bayleys’ general manager commercial South Island, and Bayleys’ national capital markets and corporate leasing teams, headquartered in Auckland.
Paenga’s record includes brokering Christchurch's largest office transaction valued at $77 million, negotiating leases for major CBD occupiers including Hoyts and H&M, and facilitating commercial sales exceeding $300 million value.
Wallace said Paenga’s skill sets, drive and business acumen will benefit clients and give additional international profile to Canterbury and other South Island centres by leveraging relationships with Bayleys’ global real estate partner, Knight Frank.
“Jesse brings a wealth of industry intelligence fine-tuned over the last decade at a time when Canterbury has effectively reinvented itself as a world-class businessdriven city,” said Wallace. “His strong transactional reputation and capacity to build solid and trusted working relationships with a broad client base will be an incredible asset to our team here in Christchurch, to our South Island network and the wider Bayleys national team.”
With signs that the commercial and industrial property market is undergoing a gear change in readiness for the next real estate cycle, Wallace said Paenga’s appointment shores up the South Island’s capital markets and corporate leasing offering.
Paenga is passionate about the industry and Christchurch’s position in the country’s property landscape. “Post-rebuild, Christchurch is now the most modern and seismically-resilient CBD in Australasia.
“With the anchor projects mostly completed, the covered stadium well under way and the CBD’s hospitality precincts humming, the city has become very attractive for locals and tourists and is a magnet for investment.
“World-class office space that is competitively priced against other major centres and high-quality and affordable housing underpins further growth for Christchurch.
“Investors, developers and occupiers are drawn to the city and as construction costs stabilise and the cost of capital settles at a more-acceptable level, its well-positioned for when the market resets.”
Paenga said there is also the opportunity for investors to acquire key land parcels and position themselves for when new development fundamentals realign, and construction kicks off again.