176,000m² in 10 Weeks: Technical Due Diligence at Scale.
Hampton Jones was engaged by GIC, Singapore's Government Sovereign Wealth Fund, to conduct Technical Due Diligence for two major commercial property portfolios in New Zealand, totalling approximately 176,000 m² of GFA. This represented the largest real estate transaction in New Zealand in 2014.
The portfolios included:
Five commercial office buildings in Auckland's Viaduct basin (Viaduct Harbour Holdings Ltd)
NZ retail centres held by Scentre Group, including Westfield Newmarket and St Lukes.
GIC required a comprehensive assessment of building efficiency, sustainability, and compliance standards. Energy efficiency and sustainability were critical factors in their acquisition decision, marking one of the first times these metrics played such a central role in a major New Zealand property transaction.
Our Approach
The project scope expanded from an initial mechanical and electrical infrastructure review to encompass:
Complete building, structure, and services review
Compliance and sustainability assessment
Detailed energy efficiency analysis and NABERSNZ rating potential
Rebuild cost assessment
10-year CAPEX forecast
Our multidisciplinary team conducted face-to-face interviews with Facilities Managers to gain qualitative insights into building performance, service reliability, and occupant comfort—providing an in-depth analysis rather than just a snapshot in time.
Key Deliverables
12 comprehensive TDD reports delivered within 10 weeks
Detailed energy assessments for the Viaduct properties
Analysis of how energy efficiency impacts future portfolio value
Long-term sustainability forecasts
The Outcome
Our reports enabled GIC to make an informed acquisition decision and plan future fiscal forecasts. The thoroughness and accuracy of our analysis meant negotiations proceeded smoothly with no surprises, allowing the transaction to settle promptly.
The energy assessments and sustainability insights were particularly valuable, as they identified properties requiring substantial engineering service redesigns to meet GIC's acceptable energy use levels. Our reporting also highlighted how building efficiency affects future value, given the rental market's increasing focus on energy efficiency and corporate sustainability.