Latest news with #Goldfinch
NZ Herald
2 days ago
- Business
- NZ Herald
$120m Wiri sale; Ryman's sinking village buildings; Former business boss Michael Barnett opposes Bay of Islands marina
Goldfinch was the sole agent on the sale. Auckland Council's rates records show the 9.2ha property, valued at $128.9m, has a 6100sq m building on it. Goldfinch said the sale reinforced the resilience of the industrial sector. The giant warehouse is leased to a number of tenants. ESR plans to demolish it and realise the site's potential. Goldfinch said redevelopment of the site was being planned in two stages over the next two to three years. It's not the only big industrial sector deal to get over the line of late. Last month, Goodman Property Trust revealed the sale of 28% of its East Tāmaki Highbrook estate to Goodman Group and Mercer for $580m. That was announced on May 29. Highbrook, the giant business park in Auckland. Photo / Jason Dorday In the inner city, Precinct Properties plans to sell its InterContinental Auckland to Singaporeans for $180m. That was announced in March. CBRE last month listed the largest buildings being developed in Auckland. James Kirkpatrick Group headed by James Kirkpatrick jnr has Auckland's largest new warehouse and logistics project under construction. That is a 65,000sq m South Auckland development of a number of separate buildings at Wiri that is expected to be worth $1 billion on completion. Ryman's sinking village buildings Ryman Healthcare is not just fixing the main building at its Edmund Hillary hub in Remuera. In its full-year results out last month, the company disclosed that the sinking problem may be more widely spread. The retirement village was built on an ex-rubbish dump and landfill. The Shackleton apartments, the village centre, the rest home and Aoraki Hospital were lifted in a job undertaken by Mainmark. 'The group has undertaken re-levelling works of the main building and one of the apartment buildings,' consolidated financial statements to March 31, 2025 said. That had cost approximately $8m. The Edmund Hillary Retirement Village, part of the Ryman portfolio. Ryman is monitoring ongoing settlement at its village and re-levelling works are likely to also be required at various other buildings in the future, it said. Some people say they are happy at the village, while others were concerned the main building had been shut for so long and have complained. Ryman is also assessing other villages for seismic risks, citing those particularly near the Hikurangi fault line. None of the villages are 'earthquake-prone' and independent experts confirmed there were no life-threatening safety concerns nor any need to vacate buildings, the company said. Naomi James, chief executive of Ryman Healthcare. However, known seismic issues could cost $30m to $35m to fix. On a separate topic, Ryman buyers are being charged in a different way to how they previously were. CEO Naomi James said Ryman no longer offered residents here and in Australia a 20% deferred management fee. This is the portion the business keeps when a resident leaves or dies. Instead, the fee is now 25% or 30%. Earlier this year: no entry to the main reception area of Ryman Healthcare's Edmund Hillary Village in Remuera. But James clarified this was not linked to weekly payments. Whether people paid 25% or 30% depended on how much they paid for their licence to occupy, she said. Out of all the retirement village operators, Ryman had offered the best deal financially for many years. But it has undergone a number of changes, including raising $1.9b capital. Marina fast-tracking opposition He was the Auckland Business Chamber CEO for more than 30 years and recognised as the voice of business in the city, but now he's opposing a Bay of Islands marina proposal. Plans for a new Bay of Islands marina by Azuma and Hoppers. Fast-tracking is sought for the plans. Photo / application document Michael Barnett is against the Waipiro Bay marina, saying he has a connection with the area because he owned property in the Bay of Islands in the mid-eighties, initially in Parekura Bay and then at Kororāreka Russell. Barnett particularly objects to the possibility of the marina being fast-tracked. Speaking on behalf of the Bay of Islands Preservation Society, he said the Fast-Track Approvals Act was intended to streamline infrastructure, housing and development projects with significant regional and national benefits. Bay of Islands hapū and community members opposed to a 250-berth marina near Kororāreka Russell going through the fast-track process make their feelings known outside a Far North District Council meeting. 'It is hard to see that this project satisfies any of these criteria,' Barnett said. Companies owned by multimillionaire businessmen Craig Heatley and Leigh Hopper have proposed the scheme. Heatley's Azuma Property and Hopper's Hopper Developments want to build the 200 to 250-berth marina. It is opposed by Ngāti Kuta, Patukeha and Far North Mayor Moko Tepania. Ministry for the Environment fast-tracking has been sought, citing several points in favour including boosting infrastructure and employment. An Azuma director and shareholder, Kallam Brown, said fast-tracking could take years off the process. Michael Barnett is against fast-tracking for the new marina plans. Barnett said half of prospective berth owners were likely to live elsewhere and he cited extensive capacity existing in nearby marinas. On May 5, Auckland and Northland had 246 berths available, Barnett said. He questioned how much of the facility's construction would be completed by regional firms rather than by generally larger and more experienced Auckland-based firms. The marina's proposed location didn't fit with regional strategies, which seek to concentrate most future growth in and around the more accessible and established locations of Ōpua and Kerikeri, Barnett said. In its defence, the application said the marina is projected to boost the local economy. 'The Waipiro Marina has been assessed to have a total economic impact of $177.9m to $218.8m in value-added GDP and support approximately 137 to 148 fulltime-equivalent jobs over a 30 year period,' the application for fast-tracking said. Anne Gibson has been the Herald's property editor for 25 years, written books and covered property extensively here and overseas.
Yahoo
05-05-2025
- Business
- Yahoo
Trump film tariffs to be part of UK-US trade talks
Film tariffs will form part of trade negotiations between the UK and US after Donald Trump said he would apply a 100% charge against movies made in foreign countries. Trump said in an announcement overnight that he would apply tariffs to foreign-made films to help America's movie industry, which he said was dying "a very fast death". In response, the UK government said trade negotiations with Washington were ongoing and it was taking a "calm and steady approach" to talks in a bid to "ease pressure on UK businesses". It came as UK filmmakers warned freelancers in the industry risked being "jobless" if US productions were pulled, while one union saying the tariffs could be a "knock-out blow". While much of the detail has yet to be announced, there is worry that UK film companies, which often produce movies with US firms - including recent blockbusters like Barbie and Wicked - could be badly hit. "If those US films don't get partly produced or produced in the UK, freelancers are going to be jobless. I'm telling you now, they really are goig to be jobless," Kirsty Bell, chief executive of UK production company Goldfinch, said. Philippa Childs, head of media and entertainment trade union, Bectu, echoed those fears: "These tariffs, coming after Covid and the recent slowdown, could deal a knock-out blow to an industry that is only just recovering and will be really worrying news for tens of thousands of skilled freelancers who make films in the UK." The UK film sector is worth £1.36 billion and employs more than 195,000 people, the government said in October. A parliamentary committee's report published last month noted the UK's film and high-end television industry is "dominated" by inward investment from US studios and that this "brings significant economic and social benefits to the UK". Culture, Media and Sport (CMS) chairwoman Dame Caroline Dinenage said on Monday that MPs had warned "against complacency on our status as the Hollywood of Europe" when the report came out. "President Trump's announcement has made that warning all too real," she said. Dame Caroline argued that making it more difficult to produce films in the UK was not in the interests of American businesses, many of which have invested in UK facilities, such as sound stages and studios. She urged ministers to "urgently prioritise this as part of the trade negotiations currently under way". Trump says non-US movies to be hit with 100% tariffs What impact might Trump's Hollywood tariffs plan have? Hollywood's big boom has gone bust It is still not entirely clear whether Trump's plans will affect only British films exported to the US or if it will also have an impact on co-productions, as referenced by Bell and others. The uncertainty itself is worrying for many. Speaking on BBC Radio 4's Today programme on Monday, Tim Richards, CEO and founder of Vue Entertainment, said: "The devil will be in the details and we need to parcel through exactly what [Trump] means. "A big part of this is what constitutes US film, is it where the money comes from, the script, the director, the talent, where it was shot? "Hollywood… has been in decline for some time," he said. "A lot of films are being shot in other states and in other markets, principally Canada, the UK and Australia. The cost base in California has been very high. "But it's a more nuanced decision about where films are made and shot. It's not just the financing itself. One of the reasons the UK has done so well is we have some of the most highly skilled and experienced filmmakers and production crews in the world. We have a common language. People love shooting their films in the UK, they love bringing their families over, so there's a soft side to it as well." Bell concurred: "The issue isn't that foreign films are taking precedence over domestic films, it's that, firstly, films are cheaper to make overseas, because of lack of tax credits in certain places... the unions, the lower cost of labour, and buying budgets have been drastically reduced over two years, all driven by the change in viewing habits. "People aren't going to the cinema as much and decline in subscription services and rise of social media platforms and content creators... the industry is entirely changed." She added: "The answer is not tariffs if [Trump is] trying to kick-start the industry in Hollywood. It's developing an ecosystem for film-making that is entirely different to what has been before. There's seismic changes in how the entertainment industry is structured needing to happen." According to the Hollywood Reporter, the Californian film commission offers a 20 percent base credit to feature films and TV series - lower than most other US states and countries like the UK and has a $330m (£248m) cap on the programme, which can make countries like the UK more attractive. A government spokesperson said on Monday: "The film sector is a key part of the UK's world-class creative industries, which employ millions of people, generate billions for our economy and showcase the best of our creativity and culture to the world. "We are absolutely committed to ensuring these sectors can continue to thrive and create good jobs right across the country, and will set this out through a new Creative Industries Sector Plan to be published soon. "Talks on an economic deal between the US and the UK are ongoing - but we are not going to provide a running commentary on the details of live discussions or set any timelines because it is not in the national interest. We will continue to take a calm and steady approach to talks and aim to find a resolution to help ease the pressure on UK businesses and consumers." Dozens of Hollywood blockbusters in recent years have actually seen the majority of their filming - known as principal photography - in the UK, including: Wicked: Part I (2024) and Part II (2025) Jurassic World Rebirth (2025) Mission: Impossible - The Final Reckoning (2025) Snow White (2025) Indiana Jones and the Dial of Destiny (2023) Back in Action (2025) Mickey 17 (2025) Beetlejuice Beetlejuice (2024) A Quiet Place: Day One (2024) Sonic the Hedgehog 3 (2024) Aquaman and the Lost Kingdom (2023) Barbie (2023)
BBC News
05-05-2025
- Business
- BBC News
Trump film tariffs to be part of UK-US trade talks
Film tariffs will form part of trade negotiations between the UK and US after Donald Trump said he would to apply a 100% charge against movies made in foreign said in an announcement overnight that he would apply tariffs to foreign-made films to help America's movie industry, which he said was dying "a very fast death".In response, the UK government said trade negotiations with Washington were ongoing and it was taking a "calm and steady approach" to talks in a bid to "ease pressure on UK businesses".It came as UK filmmakers warned freelancers in the industry risked being "jobless" if US productions were pulled, while one union saying the tariffs could be a "knock-out blow". While much of the detail has yet to be announced, there is worry that UK film companies, which often produce movies with US firms - including recent blockbusters like Barbie and Wicked - could be badly hit."If those US films don't get partly produced or produced in the UK, freelancers are going to be jobless. I'm telling you now, they really are going to be jobless," Kirsty Bell, chief executive of UK production company Goldfinch, Childs, head of media and entertainment trade union, Bectu, echoed those fears: "These tariffs, coming after Covid and the recent slowdown, could deal a knock-out blow to an industry that is only just recovering and will be really worrying news for tens of thousands of skilled freelancers who make films in the UK."The UK film sector is worth £1.36 billion and employs more than 195,000 people, the government said in October. A parliamentary committee's report published last month noted the UK's film and high-end television industry is "dominated" by inward investment from US studios and that this "brings significant economic and social benefits to the UK".Culture, Media and Sport (CMS) chairwoman Dame Caroline Dinenage said on Monday that MPs had warned "against complacency on our status as the Hollywood of Europe" when the report came out."President Trump's announcement has made that warning all too real," she Caroline argued that making it more difficult to produce films in the UK was not in the interests of American businesses, many of which have invested in UK facilities, such as sound stages and urged ministers to "urgently prioritise this as part of the trade negotiations currently under way". It is still not entirely clear whether Trump's plans will affect only British films exported to the US or if it will also have an impact on co-productions, as referenced by Goldfinch and others. The uncertainty itself is worrying for on BBC Radio 4's Today programme on Monday, Tim Richards, CEO and founder of Vue Entertainment, said: "The devil will be in the details and we need to parcel through exactly what [Trump] means. "A big part of this is what constitutes US film, is it where the money comes from, the script, the director, the talent, where it was shot? "Hollywood… has been in decline for some time," he said. "A lot of films are being shot in other states and in other markets, principally Canada, the UK and Australia. The cost base in California has been very high."But it's a more nuanced decision about where films are made and shot. It's not just the financing itself. One of the reasons the UK has done so well is we have some of the most highly skilled and experienced filmmakers and production crews in the world. We have a common language. People love shooting their films in the UK, they love bringing their families over, so there's a soft side to it as well." Goldfinch concurred: "The issue isn't that foreign films are taking precedence over domestic films, it's that, firstly, films are cheaper to make overseas, because of lack of tax credits in certain places... the unions, the lower cost of labour, and buying budgets have been drastically reduced over two years, all driven by the change in viewing habits."People aren't going to the cinema as much and decline in subscription services and rise of social media platforms and content creators... the industry is entirely changed."She added: "The answer is not tariffs if [Trump is] trying to kick-start the industry in Hollywood. It's developing an ecosystem for film-making that is entirely different to what has been before. There's seismic changes in how the entertainment industry is structured needing to happen." According to the Hollywood Reporter, the Californian film commission offers a 20 percent base credit to feature films and TV series - lower than most other US states and countries like the UK and has a $330m (£248m) cap on the programme, which can make countries like the UK more attractive.A government spokesperson said on Monday: "The film sector is a key part of the UK's world-class creative industries, which employ millions of people, generate billions for our economy and showcase the best of our creativity and culture to the world."We are absolutely committed to ensuring these sectors can continue to thrive and create good jobs right across the country, and will set this out through a new Creative Industries Sector Plan to be published soon."Talks on an economic deal between the US and the UK are ongoing - but we are not going to provide a running commentary on the details of live discussions or set any timelines because it is not in the national interest. We will continue to take a calm and steady approach to talks and aim to find a resolution to help ease the pressure on UK businesses and consumers." 'Hollywood'... in Borehamwood: Films in UK Dozens of Hollywood blockbusters in recent years have actually seen the majority of their filming - known as principal photography - in the UK, including:Wicked: Part I (2024) and Part II (2025)Jurassic World Rebirth (2025)Mission: Impossible - The Final Reckoning (2025)Snow White (2025)Indiana Jones and the Dial of Destiny (2023)Back in Action (2025)Mickey 17 (2025)Beetlejuice Beetlejuice (2024)A Quiet Place: Day One (2024)Sonic the Hedgehog 3 (2024)Aquaman and the Lost Kingdom (2023)Barbie (2023)
The Independent
05-05-2025
- Business
- The Independent
Producer: Freelancers could be jobless if Trump applies non-US films tariff
Freelancers in the UK film industry could end up jobless if Donald Trump applies a 100% tariff to non-US movies, a producer has warned. The US president announced on Sunday that he has authorised government departments to impose the tariff 'on any and all movies coming into our country that are produced in foreign lands'. Kirsty Bell, chief executive of production company Goldfinch, told the PA news agency: 'He is right to address the fact that there's a decline in the entertainment sector, which we're seeing across the whole of the Western world. 'The issue isn't that foreign films are taking precedence over domestic films, it's that, firstly, films are cheaper to make overseas, because of lack of tax credits in certain places… the unions, the lower cost of labour, and buying budgets have been drastically reduced over two years, all driven by the change in viewing habits. 'People aren't going to the cinema as much and decline in subscription services and rise of social media platforms and content creators… the industry is entirely changed.' She added: 'The answer is not tariffs if he's trying to kick-start the industry in Hollywood. It's developing an ecosystem for film-making that is entirely different to what has been before. There's seismic changes in how the entertainment industry is structured needing to happen.' Ms Bell questioned how the tariff would work and said blockbusters like Barbie, which was distributed by US film studio Warner Bros Pictures, 'was actually shot virtually entirely in the UK'. 'If those US films don't get partly produced or produced in the UK, freelancers are going to be jobless. I'm telling you now, they really are going to be jobless,' she said. Philippa Childs, head of the Broadcasting, Entertainment, Communications and Theatre Union (Bectu), said the UK industry is 'only just recovering' from the impact of the Covid-19 pandemic, when many productions were delayed or cancelled. 'The UK is a world leader in film and TV production, employing thousands of talented workers, and this is a key growth sector in the Government's industrial strategy,' she said. 'These tariffs, coming after Covid and the recent slowdown, could deal a knock-out blow to an industry that is only just recovering and will be really worrying news for tens of thousands of skilled freelancers who make films in the UK. 'The Government must move swiftly to defend this vital sector, and support the freelancers who power it, as a matter of essential national economic interest.' Culture, Media and Sport (CMS) Committee chairwoman Dame Caroline Dinenage said members warned 'against complacency on our status as the Hollywood of Europe' in their report on British film and high-end TV, published last month. ' President Trump's announcement has made that warning all too real,' she added. 'Making it more difficult to make films in the UK is not in the interests of American businesses. Their investment in facilities and talent in the UK, based on US-owned IP (intellectual property), is showing fantastic returns on both sides of the Atlantic. Ministers must urgently prioritise this as part of the trade negotiations currently under way. 'At the same time, the Government's forthcoming Creative Industries Sector Plan needs to meet the challenge we set down of incentivising inward investment while also growing our domestic sector so British film and high-end TV can thrive.' The committee's report said the UK's film and high-end television industry is 'dominated' by inward investment from US studios and that this 'brings significant economic and social benefits to the UK'. Mr Trump's latest announcement is part of an ongoing trade war after he placed tariffs of up to 145% on Chinese goods. Tariffs are taxes charged on goods imported from other countries. It is not clear how a tariff on international productions could be implemented. Many films are shot across numerous countries, including the US and UK. US film and television production has been hampered in recent years, with setbacks from the Covid pandemic, the Hollywood guild strikes of 2023 and the recent wildfires in the Los Angeles area. The UK film industry has also faced setbacks from the pandemic and the US strikes. Last year, the Government introduced the Independent Film Tax Credit, which allows productions costing up to £15 million to benefit from an increased tax relief of 53%. Culture Secretary Lisa Nandy said it would help to 'sustain a world-leading industry here in the UK'.
Western Telegraph
05-05-2025
- Business
- Western Telegraph
Producer: Freelancers could be jobless if Trump applies non-US films tariff
The US president announced on Sunday that he has authorised government departments to impose the tariff 'on any and all movies coming into our country that are produced in foreign lands'. Kirsty Bell, chief executive of production company Goldfinch, told the PA news agency: 'He is right to address the fact that there's a decline in the entertainment sector, which we're seeing across the whole of the Western world. 'The issue isn't that foreign films are taking precedence over domestic films, it's that, firstly, films are cheaper to make overseas, because of lack of tax credits in certain places… the unions, the lower cost of labour, and buying budgets have been drastically reduced over two years, all driven by the change in viewing habits. 'People aren't going to the cinema as much and decline in subscription services and rise of social media platforms and content creators… the industry is entirely changed.' She added: 'The answer is not tariffs if he's trying to kick-start the industry in Hollywood. It's developing an ecosystem for film-making that is entirely different to what has been before. There's seismic changes in how the entertainment industry is structured needing to happen.' Ms Bell questioned how the tariff would work and said blockbusters like Barbie, which was distributed by US film studio Warner Bros Pictures, 'was actually shot virtually entirely in the UK'. 'If those US films don't get partly produced or produced in the UK, freelancers are going to be jobless. I'm telling you now, they really are going to be jobless,' she said. US tariffs, coming after Covid and the recent slowdown, could deal a knock-out blow to an industry that is only just recovering and will be really worrying news for tens of thousands of skilled freelancers who make films in the UK @philippachilds — Bectu (@bectu) May 5, 2025 Philippa Childs, head of the Broadcasting, Entertainment, Communications and Theatre Union (Bectu), said the UK industry is 'only just recovering' from the impact of the Covid-19 pandemic, when many productions were delayed or cancelled. 'The UK is a world leader in film and TV production, employing thousands of talented workers, and this is a key growth sector in the Government's industrial strategy,' she said. 'These tariffs, coming after Covid and the recent slowdown, could deal a knock-out blow to an industry that is only just recovering and will be really worrying news for tens of thousands of skilled freelancers who make films in the UK. 'The Government must move swiftly to defend this vital sector, and support the freelancers who power it, as a matter of essential national economic interest.' Culture, Media and Sport (CMS) Committee chairwoman Dame Caroline Dinenage said members warned 'against complacency on our status as the Hollywood of Europe' in their report on British film and high-end TV, published last month. 'President Trump's announcement has made that warning all too real,' she added. 'Making it more difficult to make films in the UK is not in the interests of American businesses. Their investment in facilities and talent in the UK, based on US-owned IP (intellectual property), is showing fantastic returns on both sides of the Atlantic. Ministers must urgently prioritise this as part of the trade negotiations currently under way. 'At the same time, the Government's forthcoming Creative Industries Sector Plan needs to meet the challenge we set down of incentivising inward investment while also growing our domestic sector so British film and high-end TV can thrive.' The committee's report said the UK's film and high-end television industry is 'dominated' by inward investment from US studios and that this 'brings significant economic and social benefits to the UK'. US President Donald Trump and Prime Minister Sir Keir Starmer met in February (Carl Court/PA) Mr Trump's latest announcement is part of an ongoing trade war after he placed tariffs of up to 145% on Chinese goods. Tariffs are taxes charged on goods imported from other countries. It is not clear how a tariff on international productions could be implemented. Many films are shot across numerous countries, including the US and UK. US film and television production has been hampered in recent years, with setbacks from the Covid pandemic, the Hollywood guild strikes of 2023 and the recent wildfires in the Los Angeles area. The UK film industry has also faced setbacks from the pandemic and the US strikes. Last year, the Government introduced the Independent Film Tax Credit, which allows productions costing up to £15 million to benefit from an increased tax relief of 53%. Culture Secretary Lisa Nandy said it would help to 'sustain a world-leading industry here in the UK'.
