Gaze Holdings

Investment and Development: All Prescient and Correct With a total development value of around $100 million, the key driver of the Gaze Holdings' portfolio is the ability to identify untapped potential. This adept prescience is substantiated through thorough analysis and a structured approach to the entire integrated property life-cycle: Gaze raises capital, designs, develops, builds, manages, leases, sells or even operates.

The following case studies exemplify Gaze Holdings' approach to identifying potential and releasing it for optimum return on capital.

Gaze House - Empty of Tenants, Full of Potential
Built by constructors for constructors, this twelve-storey office block failed to meet the needs of capital city officer workers, so stood empty for three years. Gaze identified its potential for transformation through strategic design in function and style. Refurbished floor by floor, the building was full within six months, realising an internal rate of return greater than 100%.

Newmarket - A Foundation for Transformation
Office and retail property grew up around this three-level warehouse, reducing its relevance in an increasingly upmarket area. Gaze proposed ground level retail and two levels of offices - minimising investor risk in three ways: extensive feasibility studies; design-based marketing prior to the refurbishment; and a comprehensive cladding strategy that transformed the building while leaving the foundations untouched. This enabled Gaze to create a virtual new building for a fraction of the rebuild price. Sold with tenants for an internal rate of return of over 100%.

Summerfield Residential - Compound Interest
The client came to Gaze with a five-acre disused manufacturing plant and commissioned Gaze to extract optimal value from the site. The solution: a secure residential compound development. Forming a joint venture, Gaze designed, marketed, largely pre-sold and constructed a gated community of ninety four villas and communal leisure facilities. The first compound of its kind in this major city, its success has led to further joint venture projects ... and many imitators.

Omata - Advanced Retreat
Gaze located this property in a beautiful location but in a terrible state of repair, being sold as a deceased estate. The jetty needed rebuilding, the boat ramp needed repair, the cottage needed to be rebuilt as a resort. Gaze identified an opportunity to avoid the cost of years spent gaining resource consents: resort-development consents had already been granted, a century earlier! Taking advantage of the currently almost unobtainable right to build near the water, Gaze insight and vision has transformed this dilapidated site into a world-class oceanside retreat.

Ellerslie - Value Inflation for Retreaded Tyre Factory
First a tyre factory, then a two-level warehouse, this site was no match for the upmarket retail and residential area that had grown up around it. Gaze Holdings converted the block walls of ground level into glass-fronted retail, with suspended ceilings concealing the old concrete shell. Level Two became offices, with vacant land transformed into two levels of car parking and extra land subdivided, developed and sold to owner-occupiers. Result: rentals multiplied by a factor of five and a total internal rate of return greater than 120%.

Southern Alps - Work and Play Station
Gaze has taken joint ownership in a beautiful country sheep station - a huge farm of five thousand acres enclosing rivers and lakes, with a lively ski village and alpine slopes just minutes away. To extract maximum return from the investment, while retaining its environmental values, Gaze is continuing to lease the sheep station to a farmer while developing fifty five lifestyle building blocks of two acres each. Owners will not only have their own block, but will enjoy rights to use the entire five thousand acre station, together with a shared interest in the working farm.