Archive | St Lukes

2 suburban units sell

2 suburban units were sold at Barfoot & Thompson’s residential auction today, and a St Lukes townhouse was passed in.

9 of the 10 houses at the morning auction were also sold under the hammer.

Isthmus east

Mt Wellington

330 Ellerslie-Panmure Highway, unit 4:
Features: 2-bedroom unit, carport
Outcome: sold for $620,000
Agent: Angie Cheng

Isthmus west

St Lukes

Silverfield Terraces, 3 Wagener Place, unit 58:
Features: 3-level terrace townhouse, 3 bedrooms, 2 bathrooms, fenced courtyard, 2 parking spaces
Outcome: passed in, back on the market at $739,000
Agents: Margaret Johnston & Phyllis Brooks

North-west

Te Atatu South

134 Edmonton Rd, unit 2:
Features: cross-leased, one-sixth share in 1619m², refurbished 2-bedroom unit, carport
Outcome: sold for $450,000
Agent: Sue Ma

Attribution: Auction documents.

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4 out of 4 sell at Barfoots apartment auction

3 central city apartments – at Quay West, Federal City & Altitude – and one at St Lukes sold under the hammer at Barfoot & Thompson’s auction today.

CBD

Albert St

Quay West, 8 Albert St, unit 1901:
Features: 111m², air-conditioned, 2 bedrooms, 2 bathrooms, 2 balconies, parking space
Outcome: sold for $910,000
Agent: Belinda Illingworth

Federal St

Federal City, 207 Federal St, unit 610:
Features: 61m², corner 2 bedrooms, balcony
Outcome: sold for $557,000
Agents: Stephen Shin & Yasu Ka

Victoria Quarter

Altitude, 34 Kingston St, unit 20E (pictured):
Features: 2-bedroom penthouse, 35m² deck, spa pool
Outcome: sold for $565,000
Agents: Alex Allan & Rita Herceg

Isthmus west

St Lukes

Silverfield Terraces, 3 Wagener Place, unit 37:
Features: m², 3-level townhouse, 4 bedrooms, courtyards, double garage + single parking space
Outcome: sold for $794,000
Agent: Livia Li

Attribution: Auction.

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Propbd on Q W23Dec15 – Vodafone to move, Mercer sells division to manager, Daldy St unconditional, St Lukes sale, Novotel opens

Vodafone leaving Fanshawe St
Mercer Interiors manager buys division
Goodman joint venture unconditional on Daldy St building
Argosy sells St Lukes property
Novotel opens in New Plymouth

9.45am:
Vodafone leaving Fanshawe St

Vodafone NZ Ltd has told its landlord, a 51:49 joint venture between the Goodman Property Trust and the Singaporean sovereign wealth fund GIC, it won’t be renewing its lease on the Vodafone Building on Fanshawe St when it expires in April 2017.

Trust manager Goodman (NZ) Ltd’s chief executive, John Dakin, said today the 13,932m² building opposite Victoria Park would be one of very few opportunities available for large corporate occupiers seeking prominent business premises in 2017.

Mercer Interiors manager buys division

Mercer Group Ltd has entered into an unconditional agreement to sell its interiors division to an entity majority-owned by the division’s general manager, Ivan Ramsey.

Mr Ramsey’s $2.15 million purchase (subject to customary adjustments) includes fixed assets and the lease of the Christchurch manufacturing site, and relevant employees will stay with the interiors business.

$1.25 million is payable on the completion date, the balance in 2 equal instalments on the first & second anniversaries of the completion date, 2 February 2016.

Mercer chief executive Richard Rookes said the sale was a further step in the restructuring of the group, following sale of the medical division in October: “Mercer can now focus on its core business & its new vision, which is to design & supply innovative food-processing & packaging systems to the world. With the relocation of the head office to our premises in Christchurch in the first quarter of 2016, the restructuring will be largely complete and we can focus on growing our core business.”

Mr Ramsey said: “We look forward to growing the interiors business with exciting new products from Wilsonart and our NZ-manufactured sink range during 2016 & beyond.”

In a second transaction, Mercer has acquired 25% of Titan Slicer Ltd for a nominal $1 and now owns 100%. The Titan operations will move from Nelson to Mercer’s headquarters in Christchurch in the first quarter of 2016.

Goodman joint venture unconditional on Daldy St building

Goodman (NZ) Ltd confirmed yesterday that the joint-venture purchase of the office building being developed in the Viaduct Quarter for Datacom was unconditional.

Fletcher Building Ltd will hand over the 16,735m² building – on the corner of Gaunt & Daldy Sts in the Wynyard Quarter’s VXV Precinct – when it completes construction in March 2017. The $86.2 million acquisition is being made by Wynyard Precinct Holdings Ltd, the joint venture between the Goodman Property Trust & Singapore sovereign wealth fund GIC.

Earlier story:
27 March 2015: Fletcher & Goodman sign up for new Wynyard Quarter building

Argosy sells St Lukes property

Argosy Property Ltd said yesterday it had entered into an unconditional agreement to sell the industrial property at Wagener Place, St Lukes, for $10.5 million, and the Storage King business that occupies the property for $500,000.

Chief executive Peter Mence said settlement was due in March. Argosy had classified the property as non-core. The company has sold $36.1 million of properties this financial year.

Novotel opens in New Plymouth

Accor Hotels & Resorts has opened the $22 million 85-room 4½star Novotel New Plymouth Hobson. The hotel, on the corner of Hobson & Leach Sts, has executive rooms, studios, one-bedroom apartments and a penthouse suite, 3 food & beverage outlets, 2 meeting rooms, a swimming pool, gymnasium & day spa.

Owner Philip Brown developed the hotel, and Foster Construction Ltd of Hamilton and CL Construction Ltd of New Plymouth built it.

Attribution: Company releases.

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Committee concludes St Lukes mall expansion effects minor, so hearing non-notified

Scentre (NZ) Ltd’s resource consent application to double the size of its Westfield St Lukes mall will be determined non-notified, which excludes other parties from the process.

Auckland Council’s hearings committee heard the company’s application for non-notification last week, deliberated behind closed doors and issued its decision yesterday.

Committee chair Linda Cooper said in a release yesterday the company had an existing consent to extend the mall, granted in 2011, and the latest application made some amendments & additions to it, including the replacement of rooftop parking above the consented mall and expanding retail areas.

She said the effects in the application were considered less than minor: “The proposal is in line with the St Lukes concept plan, which was developed following extensive public consultation.

“The proposal will have a height & separation distance to neighbouring properties that will avoid dominance, amenity or shadowing effects for neighbours. It also considers all traffic aspects and does not anticipate additional parking demands on surrounding roads.”

The committee has appointed independent commissioners to decide the outcome of the resource consent application.

Scentre Group New Zealand development executive David Drew said the concept plan was originally recommended by independent commissioners, subsequently approved by the council and the St Lukes Residents Association, and was now part of the operative district plan.

One thing not decided is the start of development: “We are still masterplanning and no decisions have been made as to the timing of any development at St Lukes.”

Committee conclusions

The hearings committee said it determined overall effects would be minor on the basis that they would be within the envelope expected by the concept plan introduced by plan change 34, and the mitigation works & assessment criteria.

Onsite parking will be increased by 1479 spaces to 3497 spaces.

The committee said staged construction & staged opening of new tenancies would reduce offsite parking effects.

On requests for public input, the committee said: “The concept plan reflects that past input by setting out the expectations around the level & location of the expansion, roading improvements and mitigation & urban design considerations. In following the broad direction of the concept plan, the application does not introduce unforeseen adverse effects or raise any other matter not contemplated by the concept plan.

“Therefore it is unlikely further information or debate from possible submitters that could like improve the quality of decision-making necessary at the section 104 (Resource Management Act) stage will be elicited.”

Westfield (the Scentre predecessor) got a plan change in 2012 to rezone land adjoining the shopping centre & owned by it to business 8, and enabling the company to double the maximum gross floor area to 92,500m², including 15,000m² for offices.

Earlier stories:
17 November 2015: Council closes doors to decide on St Lukes notification
17 February 2012: Plan change to double St Lukes mall goes through final council hoop
13 January 2012: Court issues consent order for St Lukes rezoning & expansion
19 December 2010: St Lukes: the debate
18 November 2010: Westfield gets St Lukes plan change approval as mayor talks mediation

Attribution: Council decision & release.

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Council closes doors to decide on St Lukes notification

Auckland Council’s hearings committee went into closed meeting today to decide whether Scentre (NZ) Ltd’s application to increase the gross floor area of the St Lukes mall to 77,013m² should be publicly notified.

Cllr Cathy Casey, giving her voice to local opposition to the original plan change in 2010 and again at later stages, wanted to know the legal basis for making the deliberations confidential but got no explanation from committee chair Linda Cooper.

Planning consultant Andrew Wilkinson said in his report on the application for the council that impacts of the near-doubling of the mall’s footprint would be no more than minor and it needn’t be either notified or limited notified (to named parties).

Albert-Eden ward councillor Casey (able to take part in the open debate though not a member of the committee) and local board member Graeme Easte both insisted the impact on an already congested road network would be considerable, which should make the application notified.

However, Mr Wilkinson said completion of the western ring route in early 2017, through the tunnels & interchange connecting State Highway 20 to State Highway 16 at Waterview, would bring a critical reduction in traffic on the existing road network.

Planning consultant Vaughan Smith, for Scentre, said St Lukes had been developed at a time when totally inward-facing malls were considered acceptable. Private plan change 8 rezoned land adjoining the shopping centre & owned by Scentre predecessor Westfield (NZ) Ltd to business 8, and enabled Westfield (and now Scentre) to double the maximum gross floor area to 92,500m², including 15,000m² for offices. It would also become a more open centre.

Mr Smith said appeals were all resolved through mediation before getting to the Environment Court. Although Cllr Casey said mayor Len Brown had quieted initial opposition by saying critics would get their chance during the resource consent process, Mr Smith disagreed that there was an expectation the application would be notified.

He said it was always intended that a series of resource consents would be required, and that controlled or restricted discretionary activities would be considered without notification. “The things that pushed this into a discretionary status were relatively minor,” he said.

He added: “The scale of development in this application is envisaged in the district plan and concept plan for this site…. There was no requirement [to consult on resource consents] and no consultation. For the plan change there was a lot of consultation.”

This consent application is for combined stages 4-5 of the development.

Hearing panel appointments:

The hearing committee also appointed commissioners today to hear 2 other urban applications plus a variation for the Te Muri regional park:

Newmarket level crossing project, Auckland Transport notice of requirement & applications for resource consent: Simon Berry (chair), Janine Bell & David Mead
Milford, Milford Shopping Centre, 114 Kitchener Rd: Karyn Sinclair (chair), Melean Absolum, Craig Shearer & Phelan Pirie (Rodney local board member)
Te Muri: Barry Kaye (chair) & Sheena Tepania

Image above: An artist’s impression of the transformed St Lukes mall at the corner of St Lukes Rd & Morningside Drive.

Link:
Committee agenda 17 November 2015

Earlier stories:
17 February 2012: Plan change to double St Lukes mall goes through final council hoop
13 January 2012: Court issues consent order for St Lukes rezoning & expansion
19 December 2010: St Lukes: the debate
18 November 2010: Westfield gets St Lukes plan change approval as mayor talks mediation
19 October 2008: Plan change would allow 200 apartments in 3 towers above Milford shopping centre

Attribution: Council committee meeting.

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3 apartments sell at Bayleys

3 apartments were sold under the hammer at Bayleys’ residential auction on Wednesday, including one in the Courtville building (pictured) across the street from the High Court.

CBD

Learning Quarter

Courtville, 9 Parliament St, unit 6:
Features: one bedroom, balcony
Outgoings: rates $1460/year including gst; body corp levy $6785/year
Outcome: sold for $470,000
Agents: Diane Jackson & Julie Prince

Isthmus east

Parnell

30 St Georges Bay Rd, unit 2:
Features: 79m², 2 bedrooms, parking space
Outgoings: rates $2020/year including gst; body corp levy $5081/year
Outcome: sold for $792,000
Agents: Amy Hain & Chris Reeves

Isthmus west

Grey Lynn

Aston, 332 Great North Rd, unit 1:
Features: 2 bedrooms, 2 bathrooms, covered wraparound decks on corner apartment, double parking space
Outgoings: body corp levy $4382/year
Income assessment: $/week
Outcome: sold for $787,500
Agents: Blair Haddow

Herne Bay

42F West End Rd:
Features: 175m², 3 bedrooms, 2 bathrooms, decks, 2 parking spaces, New York loft-style townhouse
Outgoings: body corp levy $3382/year
Outcome: passed in
Agents: Blair Haddow

St Lukes

12 Morning Star Place, unit 2:
Features: 3 bedrooms, large deck, 2 parking spaces
Outgoings: rates $1508/year including gst; body corp levy $6062/year
Outcome: passed in
Agents: Dave Hamlyn

Attribution: Agency release.

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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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4 apartments sell at Barfoot auction

4 apartments were sold under the hammer at Barfoot & Thompson’s auction yesterday, and another 5 were passed in.

CBD

Quay Park

Scene 3, 30 Beach Rd, unit 907:
Features: leasehold, fully furnished, one bedroom, secure parking space
Outcome: sold for $122,000
Agent: Casey Chen

Uptown

18 Scotia Place, unit 5G:
Features: furnished 2 bedrooms
Outcome: passed in at $330,000
Agents: Stephen & Leo Shin

Bianco off Queen, 8 White St, unit 8B:
Features: 54m², fully furnished 2 bedrooms, 20m² balcony
Outcome: passed in at $350,000, on market at $385,000
Agent: Annie Xu

Victoria Quarter

Hobson Gardens, 205 Hobson St, unit 5H:
Features: 140m², 3 bedrooms, 2 bathrooms, parking space
Outcome: passed in at $690,000
Agents: Stephen & Hanok Shin

Waterfront

The Quays, 99 Customs St West, unit 4H:
Features: leasehold, 2-bedroom penthouse, 2 large balconies, double garage
Outgoings: body corp levy $39,528/year, special levy $37,114, and Arrow Remediate Ltd has filed a claim against the body corporate
Outcome: no bid
Agents: Alex Allan & Rita Herceg

Isthmus east

Ellerslie

24B Arthur St:
Features: 3 bedrooms, terrace, double garage with internal access
Outcome: sold for $859,000
Agent: Jack Pecsy

Isthmus west

Freemans Bay

220 Victoria St West, unit 1H:
Features: 2 bedrooms, 2 balconies, 2 parking spaces
Outcome: sold for $870,000
Agents: Alex Allan & Rita Herceg

Grey Lynn

Quest Ponsonby, 70 Ponsonby Rd, unit 301:
Features: 191m², 2-3 bedrooms, penthouse, 2 ensuites & separate bathroom, central heating, 3 secure parking spaces
Outgoings: In 2013, rates were $3964/year including gst and body corp levy was $16,598/year
Outcome: passed in at $950,000
Agents: Aaron Cook & Alastair Brown

St Lukes

Silverfield Terraces, 3 Wagener Place, unit 40:
Features: 2 bedrooms, single carport
Outgoings: body corp levy $2124/year
Outcome: sold for $551,000
Agent: Livia Li

Attribution: Auction.

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7 sales in the west include development sites

Bayleys agents have reported 7 sales in western suburbs and up to Helensville. They include 2 Mt Roskill properties, one with development potential, and a rezoned site on Fred Taylor Drive, in the Westgate development zone.

Isthmus west

Mt Roskill

935 Dominion Rd:
Features: 4759m2 corner block with 3 road frontages, 3 tenancies include Burger King restaurant on lease until 2022 and United Video & Manhattan Lodge in another older building
Rent: $397,400/year net + gst
Outcome: sold for $7 million at a yield of 5.7%
Agents: Mike Adams, James Appleby & Will Coates

907-909 Dominion Rd, Mt Roskill.

907-909 Dominion Rd, Mt Roskill.

907-909 Dominion Rd:
Features: Older 1913m2 industrial building on 1606m2 site zoned mixed use, with redevelopment potential; originally the Mt Roskill Sheet Metal Works site, that company remains a tenant along with Two Little Angels Furniture Store
Rent: $112,000/year net + gst
Outcome: sold for $2.47 million at a yield of 4.5%
Agents: Mike Adams, Will Coates & James Appleby

St Lukes

49 Sainsbury Rd, unit 8:
Features: 468m2 unit in St Lukes Business Park – 268m2 warehouse, 100m2 office, 100m2 showroom, 10 parking spaces
Outcome: sold vacant for $1.35 million
Agents: Clint Barber & Andre Siegert

North-west

Glen Eden

202-208 West Coast Rd:
Features: 996m2 retail & office complex on 607m² site opposite Glen Eden train station, 9 occupied tenancies & one vacant office tenancy
Rent: $120,322/year net + gst
Outcome: sold for $1.7 million at a 7.05% yield
Agents: Tony Chaudhary & Janak Darji

Helensville

37 Commercial Rd:
Features: 2093m2 retail & office building anchored by Countdown supermarket on 5623m2 site; Countdown owner Progressive Enterprises Ltd, which has occupied the bulk of the building since 2001, has undertaken a major refit of the supermarket and extended its lease by 5 years until December 2018, with further rights of renewal until 2036; Harcourts’ office occupies 250m2
Rent: $411,015/year net + gst
Outcome: sold for $5.35 million at a 7.8% yield
Agent: Ed Donald

Kelston

2-4 Cartwright Rd, lot 3:
Features: 345m2 warehouse on cross-lease title of 1078m2, zoned light industrial
Outcome: sold vacant for $345,000
Agents: Grant Miller, Will Coates & James Appleby

Westgate

Fred Taylor Drive:
Features: 5.1469ha zoned light industrial in the Westgate growth area
Outcome: sold for $6.85 million at $133/m2
Agent: Grant Miller

Image at top: The new Westgate development zone, a 1.5km strip from the old highway down to Mitre 10, with Fred Taylor Drive & its horticultural fields just to the left of this picture.

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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