Another major player has launched in New Zealand

(From left) NAI Harcourts CEO Chris Nicholl, Harcourts International chairman Paul Wright, NAI Global COO Ed Finn and Harcourts International MD Mike Green. Photo / Supplied

NAI Harcourts has officially entered the New Zealand market, throwing down the gauntlet to the handful of long-established big commercial and industrial property agencies on the local scene, with launches this week in Auckland, Hamilton, Wellington and Christchurch and its introduction into Australia set to follow.

The imposing company is the exclusive New Zealand/Australia member of the international NAI Global network - a joint venture company formed by NAI Global, one of the world's largest commercial real estate service providers; Harcourts International, which exceeded $20 billion in written sales in the last financial year and Brock Real Estate, Harcourts' existing joint venture partner in South Australia, the largest independently owned real estate company in South Australia. Harcourts commercial property and business broking services will now be provided under the brand on both sides of the Tasman.

NAI Harcourts chief executive Chris Nicholl says launching its naiharcourts.co.nz website and introducing new marketing material in New Zealand this week are the first steps in a five-year plan to establish NAI Harcourts in the top tier of Australasia's commercial property sector.

"With the support of NAI Global we will significantly expand Harcourts' existing commercial real estate business over the next few years," says Nicholl, who has more than 20 years' experience in the commercial property industry including senior international roles with Jones Lang LaSalle and Colliers.

"Our initial focus is on working with the existing nationwide team to roll out the new brand and establish the key NAI Harcourts systems and processes.

"Then we'll look to expand our operation by building teams of commercial specialists in key metropolitan and regional centres and introducing industry-leading tools and training that will allow us to grow and operate at the highest level.

"Alongside this, we plan to increase the range of services we offer sellers, buyers and tenants active in this important sector of the property market."

Nicholl says NAI Harcourts has a strong advantage in being able to offer access to buyers, listings and market knowledge from throughout NAI Global's network of approximately 5000 commercial real estate professionals in 325 offices working in more than 50 countries.

Based in Princeton, New Jersey, NAI offices around the world complete over $45 billion in transactions annually and manage over 18.6 million sq m of commercial space.

"The ability to connect businesses and investors from around the globe to opportunities here and vice versa is obviously something that will be of great to benefit to our clients."

Harcourts New Zealand CEO Hayden Duncan says the Australasian commercial property market offers significant opportunities.

"Harcourts now has 630 offices across nine countries and is the largest real estate group in New Zealand and the fastest growing in Australia, with a strong presence in the residential, rural and lifestyle property sectors.

"This new initiative will help us ensure we can achieve equally good levels of success in the commercial sector of the market, too," Duncan says. "Through combining the quality and strength of the Harcourts organisation with NAI Global's resources and their premier international commercial real estate network, we have a powerful platform for NAI Harcourts to succeed.

"The feedback we've had since the joint venture was announced earlier this year, both from within the industry and from our clients, has certainly been very positive.

"There is clearly an appetite for another major player in the commercial property space. From the inquiries we've had from both clients, potential clients and people interested in joining the team, we know the value of the intellectual property, brand recognition and international market access this new joint venture provides has already been recognised."