In 2009, Reid formed the Auckland property management company, IconiCity, which in 2015 purchased the historic
St Kevin's Arcade on
Karangahape Road. Other high-profile property investments by to Reid and his companies include the
Meridian Mall, Dunedin,
Elliott Stables in Auckland, and Plasma House on
Queenstown Hill, which was purchased from American billionaire
Peter Thiel for $6.85 million in 2022. An investigation by
The New Zealand Herald newspaper in 2019 described Reid as New Zealand's "most prolific property flipper", flipping more than 130 properties in the six years to 2018 and earning over $4.5 million profit, including 70 apartments in 2013 alone. In late 2024, Reid’s company purchased a block of approximately 30 neighbouring houses in Christchurch that had previously been acquired for a mall expansion project that was later abandoned. According to reporting by
The Press, tenants received 90-day notices in the weeks before Christmas requiring them to leave by early March. Several long-term residents told the newspaper they were surprised by the timing and scale of the evictions, noting the difficulty of securing accommodation during the pre-Christmas period in a constrained rental market. One tenant of 23 years described the notice period as especially disruptive over the holiday season, while another family of seven, which included two children with special needs, reported significant stress caused by receiving the notice just before Christmas. Reid said that it was ironic that what was once an "anti-establishment and anti-government" punk rock venue was now "clinging so religiously to an outdated government mode of social exclusion", and he noted that he had written off over $2 million in rent owed by small business owners in the Auckland CBD. ==Music==