Cushman & Wakefield Forms Alliance With New Zealand Firm

NEW YORK CITY-Cushman & Wakefield has formed an alliance with Bayleys Real Estate, the largest commercial and industrial property services firm in New Zealand where it employs more than 550 people and maintains 29 offices. Commenting on the arrangement, David Bayley, executive director of firm, notes that, “We are particularly pleased to draw upon Cushman & Wakefield’s global expertise as most of New Zealand’s international property business, in terms of corporate referral work and investment, comes from the United States and Southeast Asia.

Interest in the New Zealand market by US investors has been growing recently, Bayley notes, due to the strength of the dollar against smaller international currencies such as New Zealand’s Kiwi. That interest also stems from New Zealand’s lack of restrictions on purchases of commercial and industrial real estate by foreigners and property income yields are generally about double those found elsewhere in Asia.

During the last year and a half, C&W has opened offices in Japan and Argentina and sealed an association agreement with the CPN Group in Australia.

C&W also announced that John B. Coppedge III has been promoted to executive vice president, international operations, which will give him oversight over the firm’s relationship with Bayleys. His career with Cushman & Wakefield has long been focused on operations overseas. His other posts have included director of European operations, which gave him responsibility for the joint initiative with Healy & baker in the UK before the two companies merged. He has also served as managing director European/Asia operations and as managing director, international services.

In addition, the company has named Simon Buckley director of international operations. He had been a partner at Healey & Baker where he was involved in industrial brokerage, property management and development/site acquisition and construction management. He is relocating from London to New York City.