Independent commercial property advisory — Auckland
The starting position is never the ending position.
Klug advises lessors and lessees, owners, developers and joint-venture partners. We do the analysis, then we do the negotiating. No listings, and no vested interest in doing a deal for the sake of it.
The record
Outcomes, measured.
Each figure is the difference between the position inherited and the position agreed. No client is named without written consent.
A clause that had never been tested
A turnover rent provision nobody had ever enforced, read properly, evidenced, and settled.
Read the case studyOne negotiating position, 58 leases
A national fitness portfolio renegotiated through Covid-19 as one position. $1,010,016 NPV saved against the landlords’ opening positions.
Read the case studyThe deal we advised a landowner to decline
The 50/50 offered was refused. The landowner stayed on the ground lease already in place.
Read the case studyOur own capital, the same discipline
A hotel site bought whole for $1.475m, split, and sold in halves for $3.275m. Around 25% a year on our own equity.
Read the case study1,300+ properties across twenty years, in-house and on mandate. The portfolios behind the advice
What we do
Advisory from acquisition through to how the asset runs.
Six lines of work. Most mandates use more than one, and the same person runs all of them.
Strategic advisory
Portfolio reviews, acquisition strategy, and independent advice on decisions that are hard to reverse.
→02Transactions
Acquisitions, disposals and lease transactions, project-managed end to end.
→03Asset management
Leasing strategy, tenant management, and performance you can actually see.
→04Development
Feasibility, planning support and commercial structuring through to delivery.
→05Finance
Funding facilitation — process coordination, lender engagement, information prepared properly.
→06Research & PropTech
Network planning, catchment analysis, and the tooling underneath the advice.
→Why Klug
Built to solve it, not just report on it.
Paid for the work, not the deal
A fixed fee, an hourly rate or a retainer on longer mandates, plus a share of the savings achieved or the upside created. Nothing in the fee rewards a deal for simply going ahead. Always agreed up front.
The case is built before we negotiate
Whether it’s a lease, a sale, a development or a debt facility, the evidence is assembled before any number goes to the other side.
Twenty years on every side of the table
Institutional investment, agency, in-house occupier, development, and advocacy for landlords and tenants, in Auckland and London. Most advisers have worked in one of those seats. Mike Hoeft has worked in all of them.
We run the deal, not just advise on it
Klug manages the transaction from brief to settlement. Where an agent is needed, we appoint them, write their brief and hold them to it.
Insights
The thinking, written down.
Articles on leasing, valuation and development, written from mandates run rather than from theory.
%NBS dies in late 2026. Your lease clauses don’t.
Auckland is being written out of the EPB regime. The seismic clauses in your leases aren’t. Here’s what to fix before late 2026.
Read the noteFace rent vs effective rent: why the gap widens
Face and effective rent start close. They drift apart fastest at the end of a long lease, and the renewal floor is always face, not effective.
Read the noteFace rent is the wrong number
Face rent is the cover-sheet number. Effective rent is the only number that survives the next renewal.
Read the noteTell us what you are evaluating.
Send the terms. We will tell you plainly where the position sits, what we would argue for, and whether there is enough in it to be worth the effort.
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