Briefs

FirstCape Group has increased its shareholding in Summerset Group Holdings to 10.714%, up from 9.676% disclosed in May 2024, following a series of on-market trades and transfers.

Consumers are cutting their spending on hospitality to help cope with surging fuel costs, according to Westpac’s latest card transactions data.

New Zealand’s retail sector is facing a significant decline as the global fuel spike drains household budgets, says Retail New Zealand chief executive Carolyn Young.

Lincoln Grange Limited has been granted consent to acquire an 8.3 hectares of freehold site at 1491 Springs Road, Lincoln, for a new retirement village development.

Accident Compensation Corporation has emerged as a substantial shareholder in Michael Hill International after building a 5.8% stake in the jewellery retailer.

Auckland Council will consider writing off its $54m loan to Eden Park as part of the Auckland Deal with the government.

Precinct Properties Group has appointed Deloitte to replace EY as its external auditor.

RMA Reform Minister Simon Court says the government’s planning reforms will prioritise infrastructure and reduce consenting delays.

Infrastructure, Transport and Housing Minister Chris Bishop will travel to New York and Texas in the United States for a range of meetings on housing, planning, urban development and transport.

There have been a jump in applications for the Active Investor Plus visa since the government simplified investment rules.

The average processing time for overseas investment decisions has dropped from 71 working days in the last financial year to 28 working days.

Mt Cardrona Station has appointed Anna Hiatt as its new resort operations manager.

Project completions for the most recent quarter have increased to be double digits again, however this is unsustainable given the size of the pipeline.

Construction costs barely rose in the second quarter of 2025, according to the latest QV CostBuilder.

Tradies, local authorities, designers, retailers and the public are being urged to have their say on a draft document that would enable many more overseas products to be easily used in New Zealand.

Precinct Properties is leading an initiative to decarbonise key building materials.

The Bone Marrow Cancer Trust has opened its 54 new Rānui Apartments near Christchurch Hospital.

Radius Residential Care has completed its $14.7m acquisition of the assets and business of the St Allisa care home in Christchurch.

Blue Star Group has officially opened its $40m facility at 114 Swanson Road in Auckland.

The value of non-residential building consents totalled $8.9bn in the year to April 2025, down 7.6% from the previous 12 months.

There were 2,418 new homes consented in April 2025, down 17% compared with April 2024, according to Stats NZ.

Millennium & Copthorne Hotels New Zealand has declared a dividend of 3.0 cents per share for the year to December 2024

A government directive to Kāinga Ora to take firmer action against abusive Kāinga Ora tenants has led to improved behaviour, says Associate Housing Minister Tama Potaka.

Business confidence has contracted for a third month running, according to ANZ’s monthly sentiment survey.

Gilmours has opened its new $12.6m Hawke’s Bay Cash ‘n Carry store.

Wellington Airport’s performance helped its majority owner Infratil to lift revenue to $3.85bn for the year to March 2025, up from $3.14bn for FY24.

Guest nights across New Zealand totalled 3.4 million in April 2025, up from 3.1 million for the same month last year.

RotoruaNZ says its region has reported guest nights growth during a period of national falls.

The Marlborough Riverside Hotel in Nelson Street, Blenheim, is for sale.

JW Marriott has opened its new JW Marriott Auckland at 22/26 Albert Street, marking the brand’s debut in New Zealand.