Total number of outside firms used to provide property valuations
Gary Mills made this Official Information request to Far North Holdings Limited
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From: Gary Mills
Dear Far North Holdings Limited,
I am aware of the fact that Far North Holdings Limited relies on external firms to provide property valuations used to determine rental rates that are then charged to lease holders occupying land under your control or management.
Can you tell me the total number of outside firms you use to provide you with advice used to determine a fair market rate per square metre which is then charged accordingly to lease holders occupying land under your control or management.
Yours faithfully,
Gary Mills
From: Robert Binney
Far North Holdings Limited
Kia ora Gary,
Thanks for your enquiry.
To provide an overview Far North Holdings Ltd (FNHL) manages and operates
a large portfolio of properties and facilities. In its management of these
assets, we are required to carry out market rental and valuation
assessments in accordance with the terms & conditions of agreements or for
other commercial reasons.
We do take advice from external Registered Valuers choosing valuers that
we believe have expertise and experience in the relevant markets. We also
utilise internal resources where appropriate for certain rent reviews.
The lease & licence agreement documents in place with tenants will contain
terms & conditions setting out the procedures to be followed for the
setting of rents on review. Where a tenant has queries about the tenancy
agreement and its administration, we do recommend they take professional
advice.
I hold oversight of FNHL's property portfolio including the commercial,
residential, and airport properties. All FNHL tenants are welcome to
contact me directly if they wish to discuss the lease arrangements, they
have with us.
Feel free to contact me if you wish to discuss the above, and no problem
to arrange to meet.
Kind regards
Rob
Robert Binney
Chief Operating Officer
[1]09 402 5659 | [2]021 958 347
[3][email address] | [4]www.fnhl.co.nz
PO Box 7, Opua
0241
New Zealand
show quoted sections
From: Gary Mills
Dear Robert Binney,
You have not answered my question. I ask the following again:
Can you tell me the total number of outside firms Far North Holdings Ltd use to provide you with advice used to determine a fair market rate per square metre which is then charged accordingly to lease holders occupying land under your control or management.
Yours sincerely,
Gary Mills
From: Robert Binney
Far North Holdings Limited
Kia ora Gary,
Reference your request FNHL has engaged Telfer Young, Registered Valuers
(acquired by CBRE Registered Valuers in 2022) for at least the last
several years as our provider for external valuation services. Website
link : https://www.cbre.co.nz/offices/northland
Please do not hesitate to contact us if you have any further queries.
Kind regards
Rob
Robert Binney
Chief Operating Officer
[1]09 402 5659 | [2]021 958 347
[3][email address] | [4]www.fnhl.co.nz
PO Box 7, Opua
0241
New Zealand
show quoted sections
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