Archive | Onehunga

Developer buys at Henderson, investor at Onehunga

Colliers agents have sold a Henderson motel to a developer and a vacant Onehunga warehouse unit to a private investor.

Isthmus west

Onehunga

119H Captain Springs Rd:
Features: 855m², vacant office & warehouse unit, 15 parking spaces
Outcome: sold to a private investor for $1.2 million
Agents: Ben Cockram & Tim Wylie

North-west

Henderson

252 Great North Rd:
Features: 6000m² site, 30-unit Dalma Court motor inn
Income: $305,250/year net
Outcome: sold to a developer for $4.9 million
Agents: Adam White, Tony Allsop, Deborah Dowling & Michael Bray

Attribution: Agency release.

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Retail building & 5 suburban units sell

A Newmarket unit containing 2 shops (pictured) was sold on a 5.66% yield at Barfoot & Thompson’s auction on Wednesday, along with 5 cross-leased suburban residential units.

Commercial

Isthmus east

Newmarket

2A Balm St:
Features: 116m², 20m from Broadway, parking space, divided into 2 shops, IEP rating 100% of new building standard, one of 9 units in body corporate on 1581m² site zoned business 3, which allows business-orientated development up to 30m high, and the proposed unitary plan allows a combination of business or residential use to 32.5m
Rent: $93,613/year with reviews in February 2016 & 2018, no right of renewal at expiry in 2020
Outcome: sold for $1.655 million + gst at a 5.66% yield
Agents: Cam Paterson & Kim Loo

Penrose

10 Olive Rd, unit 20:
Features: cross-lease – one-20th of 2000m² site; 430m² unit, onsite parking
Rent: vacant
Outcome: no bid, back on market at $780,000 + gst
Agents: Ben Johnson & James Marshall

Apartments

CBD

Quay Park

Hudson Brown, 57 Mahuhu Crescent, unit 106:
Features: leasehold, 86m², 2 levels, 2 bedrooms, parking space
Outgoings: rates $1509/year including gst; body corp levy $10,271/year
Outcome: passed in at $180,000
Agents: Stephen Shin & Leo Shin

Isthmus east

Grafton

Phoenix Gardens, 135 Grafton Rd, unit 107:
Features: 80m², one bedroom, deck, secure parking space, storage
Outgoings: body corp levy $7330/year
Outcome: no bid; back on market at $560,000
Agents: Rita Herceg & Alex Allan

Kohimarama

31 Speight Rd, unit 2:
Features: cross-lease, 2 bedrooms, 2 bathrooms, balcony, carport, offstreet parking space
Outcome: no bid
Agents: Andy Dye

One Tree Hill

61 Rawhiti Rd, unit 4:
Features: cross-lease – one-quarter of 1198m² site; 2 bedrooms, deck, garden, garage, 2 offstreet parking spaces
Outcome: sold for $850,000
Agents: Janice Hamilton-Cox & Philip Cox

Panmure

23 Kings Rd, unit 5:
Features: cross-lease – one-sixth of 2005m² site; 2 bedrooms, conservatory, garage, 2 offstreet parking spaces
Outcome: sold for $690,000
Agents: Margaret Johnston & Phyllis Brooks

Parnell

5 Claybrook Rd, unit 4:
Features: one bedroom, ground floor
Outgoings: body corp levy $1105/year
Outcome: passed in
Agents: Liz Derbyshire

Isthmus west

Newton

The Saint, 17-19 St Benedicts St, unit 302:
Features: 2 bedrooms, 2 bathrooms, covered wraparound deck, secure parking space
Outgoings: body corp levy $3869/year
Outcome: sold for $810,000
Agents: Rico Zhao & Carolyn Kang

Onehunga

23 Clarke Rd, unit 2:
Features: cross-lease – one-third of 810m² site; 2 bedrooms, double carport
Outcome: sold for $636,000
Agents: Ian Griffiths & Winnie Groom

North-west

Te Atatu South

15 Valron Rd, unit 3:
Features: cross-lease – one-fifth of 1752m² site, 2 bedrooms, carport, offstreet parking space
Outcome: sold for $400,000
Agents: Scott Huynh

Attribution: Auction documents.

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2 warehouses sell at Colliers

2 warehouse properties were sold under the hammer and one passed in at Colliers’ auction on Wednesday.

Isthmus west

Onehunga

11 Mountjoy Place:
Features: 1304m² site, 966.5m² net lettable area in warehouse & office
Rent: vacant possession
Outcome: passed in at $950,000
Agents: Ben Cockram & Tim Wylie

2-10 Waiapu Lane:
Features: 324m² site, 263.8m² net lettable area in block of 4 shops
Rent: $65,735/year net + gst + opex, plus $862/year including gst from signage
Outcome: sold for $1.275 million at a 5.2% yield
Agents: Paul Jarvie & Charlie Oscroft

South

Airport Oaks

22 Rennie Drive:
Features: 1500m² site, 1118m² net lettable area in warehouse & office
Rent: vacant possession
Outcome: sold for $1.4 million
Agents: Brad Johnston, Paul Jarvie & Ash Vincent

Attribution: Auction.

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4 Colliers sales around country

Colliers agents have recorded 4 sales – 2 in Auckland, 2 others at auctions in Tauranga & Dunedin.

Isthmus east

Mt Wellington

20 Vestey Drive:
Features: 6898m² site, 4179m² office & warehouse, leased to Forman Building Systems Ltd
Rent: $535,000/year net
Outcome: sold for $8.75 million
Agents: Andrew Hooper & Hamish West

Isthmus west

Onehunga

22 Patrick St:
Features: 1971m² site, recently refurbished 1508m² of building – 1141m² in 3 adjoining warehouses, office & amenity 232m², storage 47m², canopy 85m², occupied by Webbing & Tapes REM Ltd, previously owned by a trust
Rent: $154,844/year net, 3%/year increases
Outcome: sold for $1.95 million
Agents: Adam White & Hamish West

South of Bombays

Tauranga

18 Marsh St:
Features: 883m² site, 530m² floor area, office & warehouse, Tile Warehouse Ltd on 6-year lease
Rent: $85,000 + gst + opex
Outcome: sold at auction for $1.3 million at 6.5% yield
Agents: Simon Clark & Duncan Woodhouse

South Island

Dunedin

408 Anderson Bay Rd:
Features: 1531m² site, 714m² floor area, The Mill Liquorsave
Rent: $155,750/year from lease running until July 2018
Outcome: sold at auction for $2.3 million to local investor at 6.75% yield
Agents: Alan Pracy & Dean Collins

Attribution: Agency release.

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Council documents series of unitary plan mediation positions

Auckland Council’s unitary plan committee has publicly documented positions it has taken in mediation on 5 topics at independent hearings panel sessions on its proposed unitary plan.

The council has gone to some trouble to keep its mediation positions confidential before they’re posted on the hearings panel’s website, and sent decisions on urgent mediation positions to a 4-member sub-committee.

Those positions are at a preliminary stage of the hearings process. In interim guidance issued in February, the hearings panel has indicated it will have no qualms about rejecting council positions.

The sub-committee’s decisions over the last 3 months were reported to the unitary plan committee yesterday, and will be revealed again in quarterly reports. Cllr Chris Darby said he dissented on 2 positions – a reduced distance offshore for the prohibition of sewage discharge from vessels, and non-complying activity status for livestock in the coastal marine area, instead of making their presence a prohibited activity.

Devonport-Takapuna Local Board chairman Mike Cohen questioned the council position allowing for up to 35% building coverage on the landward side of the marina zone, when it had been 10% before. Although the local board chairman could ask a question, committee chairman Alf Filipaina made it clear that, for practical reasons, the boards couldn’t have input before these plan position decisions were made.

Below are positions the council declared.

Significant infrastructure located in the mooring zone:

The sub-committee agreed to an amendment that would support a resource consent application for significant infrastructure with a “functional need” that “cannot practicably be located outside the mooring zone”.

Sewage discharge from vessels:

Most submissions opposed the proposed plan’s prohibition of sewage discharge from boats within 2km of mean high water springs, but there were broad submissions in support of keeping sewage out of the coastal marine area. The sub-committee supported amending the proposed plan to:

  1. not allow discharge of sewage from vessels within specific harbours & bays to remove gaps in the 500m regulations, and
  2. revert to the 500m offshore distance for sewage discharge from vessels elsewhere.

Exclusion of livestock from the coastal marine area:

Various submitters opposed the proposed plan’s prohibition of livestock anywhere in the coastal marine area, within specific timeframes, while the Environmental Defence Society and Forest & Bird Society supported the approach. The sub-committee agreed to:

  1. provide for horse-riding in the coastal marine area overlays, subject to permitted activity controls
  2. restrict livestock in areas of the coastal marine area where water quality has been identified as degraded and in overlay areas (noting that this covers much of the coastline), and
  3. allow for resource consent applications through a non-complying activity status instead of making it a prohibited activity.

Marina zone:

The proposed plan includes controls that require a non-complying resource consent to expand existing marinas, which several marina operators opposed. The proposed plan also includes controls on retail, building coverage and the height of buildings & structures within the marina zone. The sub-committee agreed to amend the marina zone to:

  1. allow for an expansion of existing marinas into the general coastal marine zone by up to 15% as a discretionary activity
  2. allow for individual retail outlets of up to 300m² in the marina zone and a total cap of 1000m² (while looking at the possibility of further limits on the type of retail)
  3. allow for up to 35% building coverage on the landward side of the marina zone, and
  4. allow structures for haulage & lifting up to 18m in height above mean high water springs on the seaward side of the marina zone.

The sub-committee noted that these thresholds can be amended for any particular marina through the marina precinct provisions, and asked staff to review the various marinas to determine where different rules might be more appropriate. It also noted that, if there was significant opposition from other parties that couldn’t be addressed through the marina precincts, the case team would bring the issue back to the committee members, but there was no significant opposition that couldn’t be addressed through the marina precincts.

Minor ports:

The proposed plan applies the minor port zone to the ports at Gabador Place & Onehunga. Ports of Auckland Ltd submitted that these ports should be zoned light industry with a minor port precinct. The sub-committee agreed to amend the zoning of the port at Gabador Place to light industry with a minor port precinct but, for Onehunga, agreed to allow more flexibility for non-port-related industry, either through the minor port zone or a precinct.

Gabador Place runs down to the Tamaki River from Carbine Rd, Mt Wellington, and the port facility is in a light industrial area. The port is used to shift aggregate & sand.

The council’s plans & places general manager, Penny Pirrit, said the port company wasn’t in a position to move out of Onehunga immediately and needed an underlying zoning until the wider community had an opportunity to discuss what the future of the port was: “Depending on the conversation with a range of parties, there could be a number of futures for that piece of land.”

Link: Unitary plan committee agenda

Earlier story:
26 February 2015: Unitary plan panel at odds with council on boundary

Attribution: Council committee meeting.

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Wide range of properties sold at Greater Auckland auction

18 commercial properties were sold under the hammer out of 30 taken to auction in Bayleys’ Greater Auckland portfolio on Wednesday. They ranged from 2 retail units in the old Auckland Electric Power Board building on Queen St in the cbd to a section with 2 houses on it at Pokeno and 3 shops in Tuakau.

CBD

Federal St

209 Federal St:
Features: 60m² ground-floor shop at entry to apartment complex, offered with vacant possession
Rent: vacant
Outcome: no bid
Agents: Millie Liang

Queen St

Power board building, 187-189 Queen St, unit A:
Features: 171m² retail unit, one of 3 units taken to auction by Landmark Property Holdings Ltd (Greg Wilkinson)
Rent: established tenant BBQ King returning $90,079/year net + gst
Outcome: sold for $1.61 million at 5.6% yield
Agents: Alan Haydock & James Chan

187-189 Queen St, unit B:
Features: 176m² retail unit
Rent: $438,759/year net + gst, fully leased by OPSM since 1996
Outcome: withdrawn from auction
Agents: Alan Haydock & James Chan

187-189 Queen St, unit C:
Features: 56m² retail unit
Rent: established tenant Lush returning $160,000/year net + gst
Outcome: sold for $3.23 million at 4.95% yield
Agents: Alan Haydock & James Chan

Victoria Quarter

51F Hobson St:
Features: 994m², 3 restaurant tenants, fully leased, 23 basement parking spaces
Rent: $270,841/year net + gst, anchor tenant has just renewed for 6 years
Outcome: no bid
Agents: Damien Bullick & Alan Haydock

Isthmus east

Epsom

107 Great South Rd, unit C:
Features: 253m² unit, 8 parking spaces, seismic rating 100% new building standard
Rent: fully leased, returning $71,073/year net + gst
Outcome: sold for $985,000
Agents: Laurie Bell & Kate Kirby

Glen Innes

25-27 Mayfair Place:
Features: 292m² 2-level building on 151m² site in Glen Innes’ main retail strip, dual frontage, 2 ground-floor tenants on leases running until 2016 & 2017, upstairs office space vacant
Rent: $42,000/year
Outcome: sold post-auction for $570,000
Agents: Quinn Ngo & Owen Ding

Panmure

172 Queens Rd:
Features: 149m² shop on main street
Rent: $36,000/year net from superette
Outcome: sold for $540,000 at 6.85%
Agents: Tony Chaudhary & Janak Darji

Penrose

996B Great South Rd:
Features: 430m² showroom & office, high-stud storage
Rent: $75,000/year net + gst from new lease
Outcome: passed in at $980,000
Agents: Greg Hall & James Hill

Isthmus west

Herne Bay

155 Jervois Rd:
Features: 657m² site, 147m² villa occupied by Merino Kids
Rent: $63,826/year net + gst
Outcome: passed in at $1.73 million
Agents: Ranjan Unka & Brian Caldwell

157 Jervois Rd:
Features: 371m² site, 150m² villa occupied by Ardmore Development Ltd
Rent: $38,000/year net + gst
Outcome: passed in at $1.36 million
Agents: Ranjan Unka & Brian Caldwell

Mt Roskill

204 Richardson Rd:
Features: 840m² corner site, 505m² floor area, 4 shops + ASB atm at busy intersection, telecommunications lease to Vodafone
Rent: $120,717/year
Outcome: passed in at $2 million
Agents: James Chan & Matt Lee

Onehunga

6B Henderson Place:
Features: 284m² office & warehouse with parking
Rent: $36,000/year + gst from established tenant
Outcome: sold for $490,000
Agents: Shane Snijder

St Lukes

55 Sainsbury Rd, unit 8:
Features: 120m² unit on 2 levels, parking, fully leased to boutique chocolate manufacturer
Rent: $35,000/year net + gst
Outcome: sold for $490,000
Agents: Leah La Hood & Kate Kirby

North-east

Albany

428 Albany Highway:
Features: 266m² floor area on 1550m² zoned residential 5, 15 parking spaces
Rent: $110,000/year net + gst from 12-year lease to Secret Garden childcare centre
Outcome: sold for $1.827 million at 6.02% yield
Agents: Shane Snijder & Tony Chaudhary

13 Beatrice Tinsley Crescent, unit 7:
Features: 171m² vacant industrial unit, high-stud warehousing
Outcome: sold for $416,000
Agents: James Kidd & Matt Mimmack

Belmont

148 Lake Rd:
Features: 178m², sports bar plus flat & small office upstairs
Rent: $45,000/year net
Outcome: passed in at $700,000 vendor bid
Agents: Brian Caldwell & Simon Aldridge

Devonport

2 Calliope Rd:
Features: 721m² site, vacant mixed-use villa, 3 bedrooms, study, decks, courtyard, retail area to the roadfront, possibility to increase to 5 bedrooms
Outcome: sold for $1.095 million
Agents: Michael Block

81 Stanley Point Rd, Flats 1 & 2:
Features: 1133m² waterfront development site, resource consent granted for 2 large luxury apartments
Rent: vacant
Outcome: no bid
Agents: Helen Michell & Scott Kirk

North-west

Henderson

344 Great North Rd:
Features: 158m² shop in retail strip
Rent: $60,000/year + gst from TAB tenancy
Outcome: sold for $900,000 at 6.66% yield
Agents: Matt Lee & James Chan

424 Great North Rd:
Features: 854m² corner site, 940m² floor area including 285m² mezzanine floor
Rent: $124,064/year from 6-year lease to Waitemata Backcare Beds
Outcome: sold for $1.295 million
Agents: Quinn Ngo & Owen Ding

27 Waipareira Avenue, unit E:
Features: 230m² warehouse & 116m² office & mezzanine, NZ Post as established tenant, IEP rating A+, 6 parking spaces
Rent: $35,000/year net + gst from lease renewed this month
Outcome: sold for $467,500
Agents: Mike Adams & Laurie Bell

South

East Tamaki

2 Bishop Browne Place, unit 7:
Features: 178m² showroom, retail or office unit in established business centre near Botany South Centre and next to Bishop Gate Centre
Rent: vacant
Outcome: passed in at $600,000 vendor bid
Agents: Katie Wu & John Bolton

357 East Tamaki Rd, lot 1:
Features: 1982m² site, titles in industrial subdivision to be issued May-June, full services will be available, one of 5 lots on auction list offered by subdivider East Tamaki LP (David Gaze), 2 other lots already sold
Outcome: sold for $865,000
Agents: John Bolton & Simon Andrews

357 East Tamaki Rd, lot 2:
Features: 1298m² site in subdivision
Outcome: sold for $700,000
Agents: John Bolton & Simon Andrews

357 East Tamaki Rd, lot 4:
Features: 4403m² site in subdivision
Outcome: withdrawn from auction
Agents: John Bolton & Simon Andrews

357 East Tamaki Rd, lot 5:
Features: 6507m² site in subdivision
Outcome: withdrawn from auction
Agents: John Bolton & Simon Andrews

357 East Tamaki Rd, lot 9:
Features: 2929m² site in subdivision
Outcome: sold for $900,000
Agents: John Bolton & Simon Andrews

Otara

7 Fair Mall:
Features: 612m² site, 545m²shop with 18m-wide frontage, potential to subdivide
Rent: $132,000/year net from established tenant
Outcome: passed in at $1.4 million vendor bid after no other bid
Agents: Tony Chaudhary & Amy Weng

Papakura

41 Elliot St, unit 6:
Features: 415m² floor area, pool operated by swim school, fitout owned by vendor
Rent: $71,000/year net
Outcome: sold for $650,000
Agents: Shane Snijder & John Bolton

Pokeno

68 Great South Rd:
Features: 837m² section on main road, 2 houses on it
Rent: $570/week gross rental
Outcome: sold for $735,000
Agents: Graeme Moore

Tuakau

14-18 George St:
Features: 706m² site, 3 retail tenants in 248m² building
Rent: $40,355/year
Outcome: sold for $560,000
Agent: Shane Snijder

Wiri

17F Hobill Avenue:
Features: 209m² warehouse, near new, high stud, tilt slab, clearspan
Rent: vacant
Outcome: passed in at $375,000 vendor bid
Agents: James Valintine & Simon Andrews

Attribution: Auction.

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6 isthmus sales & 4 leases

Bayleys agents have secured 6 sales & 4 leases through the industrial areas on the eastern side of the Auckland isthmus.

Isthmus east

Sales

Ellerslie

180 Main Highway:
Features: 2-level 260m² character office building plus 86m² of garaging/storage & 41m² carport on 496m² corner site zoned residential 6B
Outcome: sold with vacant possession for $1.34 million
Agents: James Hill, Sunil Bhana & Andre Siegert

Mt Wellington

13B Gabador Place:
Features: 835m² industrial premises – 436m² warehouse, 239m² office, on 1009m² site
Outcome: sold with vacant possession for $1.75 million
Agent: James Hill

Otahuhu

514 Great South Rd & 5 Fairburn Rd:
Features: High profile 1735m² corner site on the fringe of town centre, in 2 titles of 926m² & 809m², both zoned business mixed use
Outcome: sold with vacant possession for $1.205 million at $695/m²
Agents: Tony Chaudhary & Janak Darji

101 Huia Rd:
Features: 666m² 2-level standalone warehouse building previously used for automotive repairs, site zoned business 5
Outcome: sold with vacant possession for $710,000
Agents: James Valintine, Tony Chaudhary & Sunil Bhana

Penrose

180 Station Rd:
Features: 864m² industrial building – 719m² warehouse, 145m² office, on 1786m² site
Outcome: sold for $1.28 million
Agent: James Hill

52 Fairfax Avenue:
Features: 666m² warehouse on 809m² site zoned business 4
Outcome: sold with vacant possession for $1.2 million
Agent: James Valintine

Leases

Mt Wellington

60 Lunn Avenue:
Features: 336mwarehouse, 185m2 office, 12 parking spaces, leased for 5 years with 2-yearly rent reviews to market and 2 3-year rights of renewal
Rent: $60,000/year + gst at $115m2, including parking
Agents: James Valintine & James Hill

Onehunga

111 Captain Springs Rd:
Features: 1225m2 warehouse, 272m2 office, leased for 6 years with 3 3-year rights of renewal
Rent: $145,000/year net + gst
Agents: Scott Kirk, James Were, James Hill & Greg Hall

Otahuhu

217-225 Great South Rd, unit 11:
Features: 350m2 showroom, leased as fitness centre for 7 years with 2 4-year rights of renewal
Rent: $98,000/year net + gst
Agent: Geoff Wyatt

Penrose

996B Great South Rd:
Features: 368mshowroom, 62m2 warehouse, 10 parking spaces, leased for 3 years with 2-yearly rent reviews to market and one 3-year right of renewal
Rent: $75,000/year + gst at $174/m2, including parking
Agents: Greg Hall & James Hill

Image above: 101 Huia Rd, Otahuhu, sold with vacant possession.

Attribution: Agency release.

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7 isthmus industrial sales, 5 leases

Bayleys agents dealing in industrial property on the east of the isthmus have recorded 7 sales – 5 in Penrose – and 5 leases to finish the year.

Sales

Isthmus east

Mt Wellington

20 Hannigan Drive, unit A:
Features: 350m2 industrial unit – 191m2 warehouse, 158m2 office
Outcome: sold with vacant possession for $607,000
Agents: Sunil Bhana & Julie Prince

Penrose

453 Great South Rd:
Features: 661m2 mixed-use building on 1340msite zone business 4
Outcome: sold with vacant possession for $1.6 million at a land value of $1194/m2
Agent: Clint Barber

551 Great South Rd:
Features: 799mindustrial building on 1685m2 site zoned business 4 – 385m2 warehouse, 333m2 showroom, 25 parking spaces
Outcome: sold with vacant possession for $1.85 million
Agent: James Hill

738-740 Great South Rd:
Features: 1451mkaraoke & restaurant building on 752mresidentially zoned site
Outcome: sold with vacant possession for $1.45 million at a land value of $1928/m2
Agents: Millie Liang & James Chan

14 Greenpark Rd:
Features: 1410m2 warehouse, office & apartment building
Outcome: sold with vacant possession for $1.47 million
Agent: Millie Liang

4c Walls Rd:
Features: 566mindustrial unit – 336m2 warehouse, 122m2 office, 107m2 showroom, parking spaces
Outcome: sold with vacant possession for $1.16 million
Agents: James Valintine, James Hill, Laurie Bell & Derek Presland

Isthmus west

Onehunga

102 Neilson St:
Features: 1.43ha contaminated site, zoned business 5, with dual access and 5890mof older industrial buildings with limited value
Outcome: sold with vacant possession for $4.25 million at a land value of $297/m2
Agent: James Hill

Leases

Isthmus east

Mt Wellington

24 Allright Place, unit H:
Features: 942m2 industrial unit – 696m2 warehouse, 246m2 office, 21 parking spaces, leased for 4 years with 4 4-year rights of renewal
Rent: $100,000/year net + gst, landlord to pay outgoings for first year ($17,000)
Agents: James Valintine & Matt Gordon

102a Carbine Rd:
Features: 2700m2 industrial unit – 2200m2 warehouse, 500moffice, leased for 6 years with 3 2-year rights of renewal
Rent: $185,000/year net + gst first year, $220,000 second year, $220,000 + CPI third year
Agent: James Valintine

Penrose

20Q Cain Rd:
Features: 420m2 industrial unit – 320m2 warehouse, 100m2 office, 10 parking spaces, 3-year lease with 2 3-year rights of renewal
Rent: $85,500/year net + gst (including parking spaces), with annual rent reviews to CPI, tenant to undertake internal fitout
Agent: James Valintine

Isthmus west

Onehunga

111 Captain Springs Rd: 
Features: 1225m2 warehouse, 272m2 office, leased for 6 years with 3 3-year rights of renewal
Rent: $145,000/year net + gst
Agents: Scott Kirk, James Were, James Hill & Greg Hall

17 George Terrace, unit B:  
Features: 548m2 industrial unit – 376m2 warehouse, 116m2 office, 56m2 showroom, leased for 3 years with 2 3-year rights of renewal
Rent: $55,000/year net + gst ($52,500 first year, $55,000 second year, $57,500 third year)
Agent: James Valintine

Attribution: Agency release.

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8 sales at Auckland Total Property auction

Published 24 October 2014
8 properties were sold under the hammer at Bayleys’ Total Property auction in Auckland on Wednesday.

CBD

Queen St valley

396 Queen St, shop 5:
Rent: $80,000/year, lease of 12 years from 1 April 2014 with 12-year renewal
Outcome: passed in
Agent: Millie Liang

396 Queen St, shops 9 & 17 and lot 5
Outcome: withdrawn from auction
Agent: Millie Liang

Isthmus west

Onehunga

289 Onehunga Mall:
Features: 528m² unit, 18 secure parking spaces
Rent:
Outcome: passed in
Agents: Kate Kirby & Stephen Scott

Ponsonby

293-297 Ponsonby Rd:
Features: 366m² site, 170m² century-old retail building, 3 tenants, 2 on final renewal of leases that started in 1997 & 2002
Rent: $150,253/year + gst
Outcome: sold for $2.82 million at a 5.33% yield
Agents: Cameron Melhuish & Sunil Bhana

St Lukes

49 Sainsbury Rd, unit 7:
Features: 700m² 2-level warehouse & office unit, 14 parking spaces, leased to Wika Instruments for 6 years from June 2014
Rent: $140,000/year + gst
Outcome: sold for $1,888,000 at a 7.4% yield
Agents: Clint Barber & Andrew Beacham

Three Kings

49 Carr Rd:
Features: 809m² corner site, 734m² building currently used for food production, leased to Lincoln Bakery for one year from February 2014 with one-month termination clause
Rent: $7500/month
Outcome: sold for $1.21 million at a 7.4% yield
Agents: Mike Adams & James Appleby

North

Wellsford

1652-1654 State Highway 1:
Features: 3884m² site, 1187m² building occupied by Wharehine Ltd civil construction business, at southern entry to Wellsford
Rent:
Outcome: passed in at $900,000
Agents: Duncan Napier & Steve Orr

North-east

Silverdale

30 Anvil Rd:
Features: 1750m² site, 772m² purpose-built food-grade manufacturing building, occupied by pie-maker Jesters Manufacturing NZ Ltd on 4-year lease from June 2014
Rent: $115,000/year + gst + opex
Outcome: sold for $1.18 million at a 9.7% yield
Agents: Rosemary Wakeman

Stanmore Bay

639E Whangaparaoa Rd:
Features: 114m² commercial unit occupied by Subway,
Rent: $35055/year
Outcome: passed in at vendor bid of $480,000
Agents: Duncan Napier & Steve Orr

Wairau Valley

84-90 Hillside Rd, unit E:
Features: 480 floor area including office & amenities, existing use rights for a fitness centre
Rent: vacant
Outcome: sold for $581,000
Agents: Trevor Duffin & John Algie

North-west

Henderson

151 Lincoln Rd, unit 4:
Features: 150m², new shop leased to Oporto
Rent: $55,000/year net
Outcome: withdrawn from auction
Agents: Matt Lee & James Chan

1-13 Railside Avenue:
Features: 1404m² site, 207m² roadfront retail, 54m² rear warehouse
Rent: $77,000/year net
Outcome: passed in
Agents: Grant Miller & Harvey Zhang

33-35 Waipareira Avenue, unit C:
Features: 270m² warehouse, 45m² office & amenities
Rent:
Outcome: passed in
Agents: Mike Adams & Laurie Bell

New Lynn

3140 Great North Rd:
Features: 150m² site with development potential, 80m² building occupied by Cash in a Flash on a lease with final expiry May 2018, next to Bunnings site under construction
Rent: $15,800/year + gst
Outcome: sold for $393,500
Agents: Mike Adams & Paul Dixon

South

East Tamaki

50 Stonedon Drive, unit 8:
Features: 211m² live/work unit in a new complex
Rent: $41,600/year + outgoings + gst from 2-year lease with one-year right of renewal
Outcome: no bid
Agents: Mike Marinkovich

Howick

682 Pakuranga Rd:
Features: 10-unit motel plus 4-bedroom manager’s home & office on 1677m² site, sold as freehold going concern
Rent:
Outcome: sold for $2.35 million
Agents: Shiona Dyer & Paul Dixon

Karaka

322 Hingaia Rd:
Features: 1105m² commercially zoned site, vacant 140m² 3-bedroom villa plus 140m² takeaway/dairy
Rent: $20,800/year current, potential assed at $42,000/year
Outcome: sold for $560,000
Agents: Marty Roestenburg & Peter Migounoff

Papakura

33-35 O’Shannessey St:
Features: 2 shops & 4 2-bedroom apartments with onsite parking
Rent:
Outcome: passed in
Agents: Peter Migounoff

Pukekohe

12 Cape Hill Rd:
Features: 3.2ha site, 6 well established tenants
Rent: $480,860/year + gst
Outcome: sole bid from vendor at $4.2 million
Agents: Shane Snijder & Peter Migounoff

Attribution: Auction.

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4 properties sold at Colliers auction

All 4 commercial properties taken to auction at Colliers International on Wednesday were sold under the hammer.

Isthmus west

Grey Lynn

568 Great North Rd:
Features: 286m² net lettable area, 2 tenancies
Rent: $68,500/year
Outcome: sold for $1.475 million
Agents: Charlie Oscroft & Deborah Dowling

Onehunga

4 Rowe St:
Features: 417m² site just off Princes St, 292m² freestanding building, currently under-rented
Rent: $23,000/year + gst + opex from lease expiring August 2016
Outcome: sold for $477,000
Agents: Jolyon Thomson & Hamish West

North-west

Henderson

261 Lincoln Rd:
Features: 2000m² site, 385m² net lettable area, occupied by West Auckland Nissan, light industry zoning under the proposed unitary plan
Rent: $153,750/year + gst + opex
Outcome: sold for $2.75 million
Agents: John Davies & Dwayne Warby

South

East Tamaki

14 Birmingham Rd:
Features: 1054m² corner site, 2 well established tenants – Video Ezy & Grey Lynn Bakehouse
Rent: $34,973/year + gst + opex
Outcome: sold for $456,000
Agents: Jolyon Thomson & Hamish West

Attribution: Auction.

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