Archive | OConnell St

Propbd on Q Tues28June16 – Social housing completed, Biking against the flow, Shoulder promotion

18 new social housing homes open in Otahuhu
Biking against one-way traffic allowed
Shoulder season promotion lifts holidaymakers

18 new social housing homes open in Otahuhu

Housing NZ Ltd has completed 18 new social housing properties in the new Huihui Lane in Otahuhu on 4352m² where 5 1950s state houses previously stood.

Social Housing Minister Paula Bennett said the new houses were in a special housing area and were a mix of 2-bedroom homes (8), 3 bedrooms (2), 4 bedrooms (6) & 5 bedrooms (2).

Across the road on Clements St, Housing NZ is replacing 3 1950s houses with 10 new homes. They’re due for completion in early 2017.

Mrs Bennett said Housing NZ had land in about 50 Auckland special housing areas occupied by 690 homes. They’ll be replaced by 000 new houses.

Link:
Housing NZ redevelopment

Biking against one-way traffic allowed

Auckland Transport opened shared spaces in 3 one-way downtown streets to cycling in both directions today.

Cycling & walking manager Kathryn King said the change on Fort Lane, Jean Batten Place & O’Connell St created a useful cycling route on some of the city’s quieter streets, adding to a growing network of routes downtown.

She said the plan was to roll out the change on appropriate one-way streets around Auckland after traffic volume & vehicle speeds have been assessed.

“We’re trying to make it easier & more attractive to get around our city on foot & by bike. Cities like Paris & London have successfully introduced 2-way cycling on their one-way streets.”

Link: Auckland Transport, Cycling & walking

Shoulder season promotion lifts holidaymakers

Mrs Bennett, as associate tourism minister, said last week a 17% rise in overseas tourists showed a Government & tourism sector push to attract shoulder season visitors was working.

Statistics NZ figures showed 87,552 people from overseas holidayed here in May, up 17.3% over last May. The campaign is targeting interest groups such as skiers, cyclists & golfers.

Mrs Bennett said: “It is no secret that New Zealand’s tourism sector is doing spectacularly well. We want to ensure that this success is spread across the year and across our regions.”

To address infrastructure issues in the regions as a result of growing tourism, the Government announced in this year’s Budget that $12 million would be invested over four years to help support the creation and maintenance of regional tourism infrastructure.

Attribution: Ministerial & Auckland Transport releases, Housing NZ.

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9 sales & 8 leases around cbd & Grafton

Bayleys agents have completed 6 sales in the cbd & fringes, plus another 3 in Grafton, and 8 lease transactions.

Sales

CBD

Learning Quarter

44G Anzac Avenue: 
Features: 168m² office, 2 parking spaces
Outcome: sold vacant for $450,000
Agents: Cameron Melhuish, Andrew Wallace & Jean-Paul Smit

79-83 Beach Rd:
Features: 814m2 site, 1211m² building, leased to Tourism Holdings Ltd until October, 2 3-year rights of renewal but with 12-month demolition termination clause after October 2018 right of renewal
Rent: $217,565/year net + gst
Outcome: sold for $5.6 million at a 3.9% yield & $6880/m² land value
Agents: Phil Haydock & Alan Haydock

Queen St

99a Queen St (pictured above):
Features: 260m² retail unit leased to Oakley South Pacific Pty Ltd for 10 years from 2008, with one 5-year right of renewal & annual reviews to CPI plus 1.5%
Rent: $404,498/year net + gst
Outcome: sold for $6.66 million at a 6.07% yield
Agents: Alan Haydock & Damien Bullick

Victoria Quarter

51F Hobson St:
Features: 994m² upper floor of 2-level building plus 23 basement parking spaces, occupied by 2 tenants on 6year leases expiring in 2016 & 2021
Rent: $270,841/year net + gst
Outcome: sold for $2.85 million at a 9.5% yield
Agents: Alan Haydock & Damien Bullick

Victoria Park Market, 210 Victoria St West, unit 62: 
Features: 49m² retail outlet in leased for 3 years from January 2015, with 3 3-year rights of renewal
Rent: $27,054.50/year net + gst
Outcome: sold for $370,000 at a 7.3% yield
Agents: Kate Kirby & Leah La Hood

Waterfront

6 Viaduct Harbour Avenue, level 3:
Features: leasehold, 367m² office, 38m² of decks, 5 basement parking spaces
Outcome: sold to an owner-occupier, vacant, fully fitted & furnished, for $1.5 million
Agent: Stuart Bode

Isthmus east

113 Grafton Rd.

113 Grafton Rd.

Grafton

113 Grafton Rd:  
Features: 1015m² 3-level office building, 19 parking spaces, middle unit in a block of 3 built in 1983, occupied by Images & Sound Ltd since 2004, currently on 6-year lease until February 2019 with one 3-year right of renewal
Rent: $195,000/year + gst
Outcome: sold for $2.45 million at an 8% yield

131 Khyber Pass Rd.

131 Khyber Pass Rd.

Agents: Scott Kirk & James Were

131 Khyber Pass Rd:
Features: 1490m2 site, 1835m2 office building, 53 parking spaces, new 7-year lease to 2 Degrees Ltd
Outcome: sold for $7.45 million at an 8% yield
Agents: Alan Haydock & Ben Wallace

399 Khyber Pass Rd:
Features: 245m2 mixed use site in Newmarket plan change196 area, 446m² building – 206m² ground-floor showroom, 240m² first-floor office, 3 tenants plus 87m² of vacant office space
Rent: $76,245/year net + gst, increasing to $91,662 in September
Outcome: sold for $2.21 million
Agents: Scott Kirk & James Were

Leases

CBD

Albert St

100 Albert St, ground floor: 
Features: 110m2 fast-food outlet assigned at $742/m² with one 6-year right of renewal
Rent: $81,690/year net + gst
Agent: Millie Liang

O’Connell St

15 O’Connell St, level 1:
Features: 166m² office, leased at $330/m² for 4 years with 2 2-year rights of renewal & 3% annual rent increases
Rent: $54,839/year net + gst
Agents: Ben Wallace & Brendan Graves

Quay Park

The Exchange, 19 Dockside Lane, Auckland CBD
Features: 254m² office, 2 parking spaces, leased at $400/m² gross for 6 years with one 2- year right of renewal & 3% annual rent increases
Rent: $108,400/year gross + gst
Agents: Brendan Graves & Matt Gordon

The Exchange, 39 Dockside Lane:
Features: 160m² office, 3 parking spaces, leased at $400/m² gross for 3 years with one 3- year right of renewal & 3% annual rent increases
Rent: $74,920/year gross + gst
Agent: Brendan Graves

Queen St

205 Queen St, part level 8:
Features: 171m2 office, leased at $300/mfor 3 years with no right of renewal & fixed 3% annual rent increases
Rent: $51,369/year net + gst
Agent: Brendan Graves

Uptown

441 Queen St, lower ground floor:
Features: 204m2 office leased for 3 years at $220/m2, one parking space at $50/week, one 2-year right of renewal & annual rent reviews to CPI plus market on renewal
Rent: $47,480/year net + gst
Agents: Jean-Paul Smit & Phil Haydock

Victoria Quarter

36-42 Sale St, unit 11:
Features: 105m2 office, leased at $238/m2 for 2 years with one 2-year right of renewal & 3% annual rent reviews
Rent: $32,790/year net + gst, including parking space at $45/week
Agent: Matt Gordon

Waterfront

139 Quay St, shop 1B:
Features: 85m2 licensed café, leased for 6 years at $1000/m2, one 6-year right of renewal & 2-yearly market rent reviews
Rent: $84,820/year net + gst
Agents: Sarah Boles & Ed Donald

Attribution: Agency release.

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Fringe double frontage sold, long list of cbd leases

A cbd fringe pair of buildings with double frontage to Anzac Avenue & Beach Rd have been bought by an owner-occupier/investor.

Bayleys agents have also completed a number of new cbd leases over the summer.

Sales

CBD

Learning Quarter

69-71 Beach Rd & 64-68 Anzac Avenue:
Features: 2 5-storey interconnecting character office buildings constructed in the early 1920s on 2 freehold titles totalling 805m², comprising a 1418m² building on Beach Rd and a 911m² building on Anzac Avenue; IEP seismic ratings of 55-65% of new building standard, partially leased to various office, retail & parking tenants
Rent: about $480,000/year + gst
Outcome: sold for $5.8 million to an owner-occupier investor who will occupy some of the vacant space and try to lease up the balance
Agents: Mike Adams. Nigel McNeill & Quinn Ngo

Leases

CBD

Albert St

West Plaza Building, 3 Albert St, level 5:
Features: 425m2 office, 3 parking spaces, leased for 6 years with 2 3-year rights of renewal
Rent: $106,250/year net + gst at $250/m2
Agents: Brendan Graves & Ben Wallace

High St

9 High St, level 5:
Features: 90.85moffice, leased for 3 years, 3-yearly rent reviews, 2 3-year rights of renewal
Rent: $25,438/year net + gst at $280/m2
Agent: Brendan Graves

48 High St, level 1:
Features: 225moffice, leased for 3 years with 2 one-year rights of renewal
Rent: $78,750/year gross + gst at $350/m2, 3% annual fixed rent increases
Agents: Brendan Graves & Ben Wallace

O’Connell St

12 O’Connell St, part level 4:
Features: 242moffice, leased for 6 years with one 3-year right of renewal
Rent: $84,000/year gross + gst at $347.11/m2, 2% annual fixed rent increases
Agents: Brendan Graves & Ben Wallace

Queen St

205 Queen St, level 5:
Features: 173.5moffice, leased for 3 years, 3% fixed rent reviews & no right of renewal
Rent: $50,147/year net + gst at $289/m2
Agent: Rob Cross

441 Queen St, office 103:
Features: 418.89moffice, 2 parking spaces, leased for 2 years, rent reviews upon renewal and one 2-year right of renewal
Rent: office $113,880/year gross + gst at $271.80/m2, parking $50/week/space
Agent: Phil Haydock

Victoria Quarter

9C Union St, ground level:
Features: 136moffice, 3 parking spaces, leased for 3 years, 2-yearly rent reviews & one 3-year right of renewal
Rent: office $44,111/year net + gst at $205/m2, parking $60/week/space
Agent: Ben Wallace

Victoria St

62 Victoria St West, part level 3:
Features: 132.7moffice, sub-leased for 10 months & 19 days with no right of renewal
Rent: $37,800/year + gst at $285.85/m2
Agent: Brendan Graves

Waterfront

Mastercard House, 136 Customs St West, level 1:
Features: 383moffice, 4 parking spaces, leased for 2 years with one 2-year right of renewal
Rent: office $156,235/year + gst at $356.33/m2, parking $95/week/space
Agents: Brendan Graves & Andre Siegert

Princes Wharf, 139 Quay St, Shed 20:
Features: 400moffice leased for 3 years with 2-yearly rent reviews and one 3-year right of renewal
Rent: $124,000/year + gst at $310/m2, outgoings capped at $120/mfor 3 years, no ground rent payable
Agent: Brendan Graves

10 Viaduct Harbour Avenue, level 3:
Features: 522.7m2 office, 2 parking spaces, leased for 3 years with one 3-year right of renewal
Rent: $261,915/year net + gst
Agent: Bill Fenton

Wellesley St

119 Wellesley St West, part level 1:
Features: 129moffice, one parking space, leased for 18 months, 5% fixed rent review in October and no right of renewal
Rent: office $52,015/year net + gst at $375/m2, parking $70/week/space
Agents: Brendan Graves & Ben Wallace

Isthmus east

Grafton

89 Grafton Rd:
Features: 168moffice, leased for 3 years, 2 3-year rights of renewal
Rent: $51,593/year gross + gst, annual rent reviews of 3%
Agents: Matt Gordon & Brendan Graves

Attribution: Agency release.

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Leases signed on isthmus & Albany

Bayleys agents have completed a number of leasing transactions over the summer, on the isthmus and in Albany.

One Takapuna property passed in at the agency’s December Total Property auction has also been sold.

Leases

CBD

Queen St valley

Chancery, 8 Courthouse Lane:
Features: 36mretail building, leased for 3 years, 3-yearly rent reviews & 2 3-year rights of renewal
Rent: $30,000/year net + gst at $833/m2
Agent: Millie Liang

15-23 O’Connell St, shop 2.

15-23 O’Connell St, shop 2.

15-23 O’Connell St, shop 2:
Features: 58mretail, leased for 3 years, rent reviews every 18 months to cpi, 2 3-year rights of renewal
Rent: $42,672/year net + gst at $736/m2
Agent: Leah Lahood

Victoria Quarter

City Works Depot, Shed 15.4, corner Wellesley, Nelson & Cook Sts:
Features: 217mretail, one parking space, leased for 4 years with no right of renewal
Rent: confidential
Agent: Leah Lahood

Isthmus east

395 Manukau Rd, Epsom.

395 Manukau Rd, Epsom.

Epsom

395 Manukau Rd, unit B:
Features: 290mretail premises, 4 parking spaces, leased for 4 years with rent reviews yearly to cpi, 2 4-year rights of renewal
Rent: $78,000/year + gst
Agent: Leah Lahood

Newmarket

21 Davis Crescent:
Features: 478mshowroom, leased for 3 years from February, 2-yearly rent reviews to cpi, 2 3-year rights of renewal
Rent: $120,000/year net + gst at $251/m2
Agent: Jean-Paul Smit

2-8 Short St
Features: 1567m2 – 978m2 retail, 588mfor 20 parking spaces leased to Asian supermarket for 3 years from January 2015, 5 3-year rights of renewal
Rent: $220,000/year net + gst for 2 years, increasing to $240,000/year + gst at year 3
Agent: Millie Liang

Parnell

46 Parnell Rd, ground floor:
Features: 585mshowroom, 4 parking spaces, leased for 6 years from March 2015, one 4-year right of renewal
Rent: $286,450/year net + gst at $425/m2, $65/parking space
Agent: Matt Gordon

225 Parnell Rd:
Features: 175mretail premises, one parking space, leased for 3 years, 2 3-year rights of renewal
Rent: $45,600/year net + gst at $245/m2, $50/parking space
Agents: Damien Bullick, Phil Haydock & Millie Liang

Isthmus west

5 Newton Rd.

5 Newton Rd.

Grey Lynn

5 Newton Rd, level 1:
Features: 132mretail premises, 3 parking spaces, leased for 2 years & one month with 2-yearly rent reviews & 3 2-year rights of renewal
Rent: $31,000/year + gst
Agent: Leah Lahood

Mt Eden

284 Dominion Rd:
Features: 270.75mretail outlet, leased for 10 years from February, 5-yearly rent reviews to market & annually to cpi, 2 5-year rights of renewal
Rent: $110,000/year net + gst
Agents: Jean-Paul Smit & Phil Haydock

Newton

258-264 Karangahape Rd:
Features: 370mlicensed nightclub premises, leased for 3 years with 3 3-year rights of renewal
Rent: $42,800/year + gst
Agents: Leah Lahood & Terry Kim

Ponsonby

202 Ponsonby Rd, level 1:
Features: 216m2 showroom, 2 parking spaces, leased for 5 years with 2 5-year rights of renewal
Rent: stepped rental increases from $50,000 to $56,240/year net + gst
Agent: Leah Lahood

North-east

Albany

63 Apollo Drive, unit E1:
Features: 150m² office, 4 parking spaces
Rent: leased in January for $30,000/year + gst + opex
Agent: Alex Strever

66 Apollo Drive:
Features: 1512m² – office 356m², warehouse 1051m², other area 105m²
Rent: leased in December for $215,000/year net at $142.20/m²
Agent: Matt Mimmack

12 John Glenn Avenue, unit B:
Features: 545m² – office 71m², warehouse 412m², showroom 62m²
Rent: leased in December for $78,000/year net at $143/m²
Agent: Laurie Burt

27-29 William Pickering Drive, unit B3:
Features: 200m² office, 6 parking spaces
Rent: leased in January for $40,000/year + gst + opex
Agent: Tonia Robertson

Sale

A Takapuna retail unit was sold after Bayleys’ December Total Property auction.

North-east

Takapuna

106-108 Hurstmere Rd, unit B:
Features: 133m² retail unit occupied by a homeware & gift shop and a fashion retailer on short-term leases
Rent: $79,500/year net + gst
Outcome: passed in at $1,366,000, sold post-auction for $1.37 million at a 5.8% yield
Agents: Simon Aldridge & Damian Stephen

Attribution: Agency release.

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Doole gets Vulcan Apartments OK

Published: 4 August 2005


Vulcan Apartments Ltd (Paul Doole) has non-notified consent to turn the Commercial Union building on O’Connell St into an apartment building and to double its size, with a few conditions on appearance.



The existing 6-storey building has a glassed-over façade, some of it extending over the footpath and generally out of character with the rest of the street’s older buildings.


At Auckland City Council’s planning fixtures meeting on Tuesday, councillors focused on appearance issues while also questioning the overhang in public airspace.


Cllr Christine Caughey said the proposed 12-storey redevelopment would be “stark white” and she wanted to know if there was any way that could be controlled. One of the consent conditions requires details of all exterior materials, colours & finishes to be submitted to the council before a building consent is issued.


Senior council planner Karen Long said the existing overhang would be replaced by residential balconies & bay windows, and that the urban design panel had concluded it was better to maintain the same line rather than set the façade back.


Planning staff will be asked to pursue an airspace lease, but nothing formal was written into the resource consent conditions about that.


Ms Long said the proposal was for 66 apartments above a retail ground floor, most of them 2-bedrooms. The building faces down Vulcan Lane and extends through to the narrow Cruise Lane, separating it from the Axa building between Shortland & Chancery Sts.


The apartment range includes 1-bedroom units of 51m², some 2-beddies of 55m² and others in a range of 70-82m². The Kellands Real Estate web promotion also provides rental estimates and parking rates around the city through the Parkings website.


Mr Doole is also the intending developer of the St James Theatre site, opposite the SkyCity Metro cinema, bookstore & foodcourt complex further up Queen St, a development proposal which was set back at the end of last year when High Court judge Patrick Keane said the council should have paid more attention to design when it considered the consent application. Consent for that development still hasn’t been granted.


Meanwhile Mr Doole has the 17-storey Portland Tower apartment project under way between the old Imperial on the corner of Fort St and the Mercure Windsor hotel on Queen St.



Websites: Vulcan Apartments


Parking.biz


 


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