Archive | North-east

5 commercial leases on Shore and at Silverdale

Bayleys agents on the North Shore have signed 2 leases in the Wairau Valley and 3 others in Rosedale, Silverdale & Takapuna.

Leases

North-east

Rosedale

4 Antares Place, unit F1:
Features: 113m² office, 3 parking spaces
Rent: leased in May for $33,065/year net + gst, parking $20/space/week, net excluding parking $29,945/year, premises rental $265/m²
Agents: Ryan Dannhauser & Eddie Zhong

Silverdale

162 Foundry Rd:
Features: 572m² industrial property, 6 parking spaces
Rent: leased in May for $80,000/year net + gst, premises rental $139.86/m² (no separate parking charge)
Agents: Rosemary Wakeman

Takapuna

Smales Farm, 68-76 Taharoto Rd, B:Hive, level 1, suite 110B:
Features: 27m² office, no parking
Rent: leased in May for $29,901/year net + gst, premises rental $1107/m²
Agents: Jane Sims

Wairau Valley

12 Ashfield Rd, unit A:
Features: 470m² industrial unit – warehouse 430m², office 40m², 9 parking spaces
Rent: leased in May for $52,000/year net + gst, premises rental $111/m² (no separate parking charge)
Agents: Trevor Duffin & Chris White

56 Diana Drive, unit D:
Features: 460m² industrial unit – warehouse 310m², office 150m², 3 parking spaces
Rent: leased in May for $58,000/year net + gst, premises rental $126/m² (no separate parking charge)
Agent: Trevor Duffin

Attribution: Company release.

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Updated: Wairau Valley car yard sells at over $2000/m² at Bayleys auction

Published 18 May 2017, updated 21 & 28 May 2017:
11 of the 21 commercial properties auctioned by Bayleys on Wednesday in its third Total Property portfolio for the year were sold under the hammer. 2 more have been sold post-auction – first, 100 Hinemoa St, Birkenhead, followed by 44 College Hill.

The first were sold, followed by a lull, but 2 of the most expensive offerings were well down the auction list.

One was a Wairau Valley car sales yard, set among a line of lowrise buildings jammed between the Northern Motorway & Wairau Rd on the North Shore, a stretch where the height limit is now 20m under the unitary plan.

The car yard was sold at $2365/m², which means it’s destined for multi-level development.

2 properties were sold for $4 million, both in Henderson. The first was a bank branch on Great North Rd, sold on a 5.5% yield, and the second, a Supercheap Auto outlet in the Lincoln North shopping centre, sold on a 5.3% yield.

CBD

Victoria Quarter

166 Hobson St:
Outcome: sold prior
Agents: Sarah Boles & Terry Kim
Story, 11 May 2017: 12 years after demolition order scrapped, Hobson St building sells

Isthmus east

Panmure

63 Queens Rd:
Features: 97m² retail unit on 2 levels occupied by Willow Hair Design, parking space
Rent: $24,000/year net + gst on new 3-year lease with 2 2-year renewals
Outcome: passed in
Agents: Ken Hu

Parnell

385 Parnell Rd, unit E:
Features: 54m², retail fully leased on month-to-month basis, 2 secure parking spaces
Rent: $32,760/year net + gst
Outcome: sold for $505,000
Agents: Andrew Wallace & Cameron Melhuish

Remuera

563 Remuera Rd:
Features: 144m² cafe, Upland Rd shopping village
Rent: $76,104/year net + gst
Outcome: sold for $1.6 million
Agents: Cameron Melhuish & Andrew Wallace

Isthmus west

Freemans Bay

42 College Hill:
Features: 511m² section, house with 124m² floor area, onsite parking
Rent: $44,500/year net + gst
Outcome: passed in at $1.5 million
Agents: James Were & Scott Kirk

Updated: 44 College Hill:
Features: 389m² section, house, onsite parking
Rent: $44,000/year net + gst
Outcome: passed in, sold post-auction for $1.5 million
Agents: James Were & Scott Kirk

Mt Roskill

74 Carr Rd:
Features: 835m² site, 697m² single-level building
Outcome: withdrawn from auction, changed to sale by deadline private treaty
Agents: Tony Chaudhary & Sunil Bhana

North

Kaikohe

39 Station Rd:
Features: 7199m² commercial property in 2 titles
Outcome: withdrawn from auction
Agents: John Greenwood & Paul Dixon

Warkworth

The Grange, 67 Auckland Rd, unit 11:
Features: 59m², Fish Nets fish & chips shop on 10-year lease in new retail development
Rent: $30,975/year net + gst
Outcome: passed in at $480,000
Agents: Matt Lee, Jan Hutcheson & James Chan

North-east

Albany

75 Corinthian Drive, unit L1:
Features: 197m² first-floor office, new 6-year lease in place with renewal rights, 5 parking spaces
Rent: $58,800/year net + gst + outgoings
Outcome: sold for $1.095 million
Agents: Jane Sims & Tonia Robertson

Birkenhead

Updated: 100 Hinemoa St:
Features: 757m² corner site, 421m² 2-storey building
Rent: $103,907/year net + gst from 6 tenancies
Outcome: passed in at $2.7 million, sold post-auction for $2.7 million
Agents: Simon Aldridge & David Huang

27-33 Mokoia Rd, units 4, 5 & 7:
Features: 59m² total, 3 strata units next to Highbury mall, tenants are a dry cleaner & kebab shop, third unit vacant
Agents for all 3: Michael Nees, Owen Ding & Oscar Kuang
Unit 4, vacant:
Outcome: passed in at $300,000
Unit 5, kebab shop:
Rent: $24,000/year net + gst, lease running to 2030
Outcome: passed in at $470,000
Unit 7, dry cleaners:
Rent: $18,942/year net + gst, lease 6 years from last October
Outcome: passed in at $300,000

225 Onewa Rd:
Features: cross-lease, 1/3 share in 913m², vacant ex-surgery, 5 parking spaces
Outcome: sold for $650,000
Agents: Michael Nees, Owen Ding & Oscar Kuang

Rosedale

7 Vega Place, unit E:
Features: 272m² industrial unit,
Rent: $52,000/year net + gst from established tenants on new leases
Outcome: sold for $980,000
Agents: James Kidd & Matt Mimmack

Silverdale

1 Polarity Rise, ground floor:
Features: 145m², 2 shops on 2 titles for sale as one
Rent: $61,966.70/year net + gst + opex
Outcome: passed in
Agents: Ashton Geissler, Eddie Zhong & Mustan Bagasra

Takapuna

424 Lake Rd:
Features: 3 tenancies
Rent: $61,950/year net + gst, rising to $63,383 in November,
Outcome: sold for $1.5 million
Agents: Michael Nees & David Huang

Wairau Valley

107 Wairau Rd:
Features: 1184m² site, 13-year-old car dealership Car7, 40m² office 
Rent: $63,600/year net + gst, redevelopment potential up to 20m height limit
Outcome: sold for $2.8 million at $2365/m²
Agents: Brian Caldwell & Ranjan Unka

North-west

Henderson

Lincoln North Shopping Centre, 192 Lincoln Rd, unit A1:
Features: 756m² retail unit, 7-year lease to Supercheap Auto from July 2016
Rent: $212,292.82/year net + gst
Outcome: sold for $4 million at a 5.3% yield
Agents: Matt Lee, Tony Chaudhary & James Chan

373 Great North Rd:
Features: 808m² corner site, 1240m² floor area, BNZ as tenant on lease to 2020 with further renewal rights, basement parking
Rent: $219,360/year net + gst + opex, rent review in December
Outcome: sold for $4 million
Agents: Mike Adams & Laurie Burt

South

East Tamaki

44D Andromeda Crescent:
Features: 400m² industrial unit – high stud, clearspan warehouse 300m², office/amenities 40m², mezzanine 60m²
Outcome: sold for $735,000
Agents: Nelson Raines

Mangere Bridge

19 Coronation Rd:
Features: 273m² town centre site, 160m² bank branch, seismic rating 67% of new building standard
Rent: $34,000/year net + gst
Outcome: sold for $973,000
Agents: Nicolas Ching & Beterly Pan

South of the Bombays

Hawke’s Bay

Napier, Onekawa

Deco City Motor Lodge, 308 Kennedy Rd:
Features: 2682m² site, 30 studios and 1- & 2-bedroom units, conference suite, manager’s quarters, freehold going concern, Qualmark 4.5 stars, in Host Accommodation Group, seismic rating 80% of new building standard
Outcome: no bid
Agents: Paul Dixon, Daniel Moffitt & Carolyn Hanson

Attribution: Company release.

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Council supports regeneration actions

Auckland Council’s finance & performance committee approved 3 actions yesterday to support urban regeneration, and another likely to result in the transfer of a town centre carpark from Auckland Transport to a supermarket owner.

The 3 regeneration-supporting actions were:

Divestment of 2 areas in the New Lynn town centre totalling 3384m², which Infratil Ltd has first development right on

Sale of council landholdings in central Henderson – with the intention of the local board to recoup at least some of the sale funds – to enable urban renewal & town centre housing

Sale of a number of council landholdings in Onehunga, also to support regeneration and the development of housing, and also with at least some of the sale funds being applied to that, and

Sale of the 19 Anzac Avenue carpark in Browns Bay, most likely to remain a parking lot because a high proportion of users park there to go to the nearby supermarket.

The regeneration proposals are all part of council-controlled Panuku Development Auckland’s task of selling off land the council doesn’t use, and secondly to support Panuku’s programme of transforming town centres.

Onehunga is marked as a “transform” centre and Henderson as an “unlock” centre in Panuku’s priority list of urban renewal around the region.

  • I’ll return to these redevelopment topics in considerably more detail, probably starting in about a week.

Attribution: Council committee meeting.

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7 leases around Shore

Bayleys agents on the North Shore have completed 7 lease transactions in Albany, Browns Bay, Rosedale, Takapuna & the Wairau Valley. They were also involved in 5 sales at Bayleys’ Total Property auction on Wednesday (reported separately, link below).

Leases:

North-east

Albany

28 Corinthian Drive:
Features: 256m² retail, 10 parking spaces
Rent: leased in May for $135,960, parking $35/space/week, net excluding parking $117,760/year, premises rental $460/m²
Agents: Alex Strever, Eddie Zhong & Dean Gilbert-Smith

3 William Laurie Place, level 1:
Features: 378.05m² office, 11 parking spaces
Rent: leased in May for $111,672.50/year et + gst, parking $$30/space/week, net excluding parking $94,512.50/year, premises rental $250/m²
Agents: Dean Gilbert-Smith/Jane Sims & Ryan Dannhauser

Browns Bay

76 Clyde Rd:
Features: 89.1m² retail
Rent: leased in April for $34,000/year net + gst, premises rental $382/m²
Agent: Steven Liu

Rosedale

9 Beatrice Tinsley Crescent, unit A:
Features: 408m² industrial unit – warehouse 266m², showroom 64m², office 78m², 7 parking spaces (not separately charged for)
Rent: leased in May for $66,000/year net + gst, premises rental $162/m²
Agents: Laurie Burt, Ranjan Unka & Ashton Geissler

Takapuna

433 Lake Rd, level 3:
Features: 48.4m² office, parking space
Rent: leased in May for $12,468/year net + gst, parking $35/space/week, net excluding parking $10,648/year, premises rental $220/m²
Agents: Jane Sims & Chris White

Smales Farm, B-Hive, level 1, suite 114B:
Features: 27m² office, no parking
Rent: leased in May for $32,560/year net, premises rental $1206/m²
Agents: Dean Gilbert-Smith

Wairau Valley

18 Link Drive, unit 15:
Features: 498m² industrial unit – warehouse 434m², other area 64m², 13 parking spaces (not separately charged for)
Rent: leased in April for $100,000/year net + gst, premises rental $201/m²
Agents: Steven Liu, Trevor Duffin, Alex Strever & Eddie Zhong

Related story: Updated: Wairau Valley car yard sells at over $2000/m² at Bayleys auction

Attribution: Agency release.

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2 Shore commercial properties sell at auction

2 North Shore properties were sold under the hammer at Colliers’ commercial auction yesterday – a Milford property near North Shore Hospital with 2 buildings on it, long occupied by medical sector tenants but more likely a development prospect, and a Wairau Valley mechanic’s workshop.

North-east

Milford

193 Shakespeare Rd:
Features: 1148m² site zoned mixed use, 2 buildings, floor area 348m², 16 parking spaces
Rent: $40,608/year net + gst holding income
Outcome: sold for $3.1 million
Agents: Euan Stratton & Deborah Dowling

Wairau Valley

114 Sunnybrae Rd:
Features: 951m² site zoned business light industry under unitary plan, floor area 519m² – warehouse 366m², office 153m², seismic rating 100% of new building standard; generic structure developed as a car parts & repair workshop
Rent: $85,000/year net + gst from new 3-year lease
Outcome: sold for $1.84 million
Agents: Euan Stratton & Matt Prentice

Attribution: Auction documents.

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3 commercial sales at Wairau Valley, Te Rapa & Waikanae

Colliers has reported 3 sales around the North Island – a former gym, now office & warehouse, in the Wairau Valley (pictured) and properties at Te Rapa outside Hamilton and Waikanae outside Wellington.

North-east

Wairau Valley

6 Target Court:
Features: 3265m² industrial site, 1182m² floor area, originally a gym, now an office & warehouse, 28 parking spaces
Rent: $214,399/year net + gst holding income until 30 November from departing tenant
Outcome: asking $3.37 million, sold for $3.2 million + gst at a 6.7% yield
Agents: Nick Recordon, Matt Prentice & Jimmy O’Brien

South of the Bombays

Waikato

Te Rapa

4 Maui St:
Features: 2317m² site at the corner Church Rd, occupied by the Cock & Bull bar, 36% site coverage, 47 parking spaces
Rent: $242,000/year net + gst, new 6-year lease from April 2016
Outcome: sold for $3.26 million + gst
Agents: Alan Pracy  Justin Oliver, with a referral from Jolyon Thomson &  Ben Cockram

Wellington

Waikanae

3 Omahi St:
Features: 917m² site, 393m² office & retail, 10 parking spaces
Outcome: sold for $1.39 million + gst at a 6.98% yield
Agents: Dean Anderson

Attribution: Agency release.

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Mediation agreement signed for Ryman’s Devonport village

Ryman Healthcare Ltd said on Friday its new Devonport village was set to proceed following mediation talks with objectors.

The Devonport Peninsula Precincts Society appealed against the development to the Environment Court after Auckland Council planning commissioners granted resource consent in January for the village on Ngataringa Rd.

Ryman, the society, the NZ Institute of Architects & Urban Auckland have since been in mediation over the retirement village plans for the 4.2ha site owned by Ngati Whatua Orakei.

Ryman development manager Andrew Mitchell said differences were resolved amicably and all parties had signed an agreement. The resolution requires final approval from the Environment Court.

The 6 buildings of the proposed village were up to 6 storeys high, and Devonport residents opposed bulk & height. The parties haven’t disclosed changes to height or design, or how the increased traffic on Lake Rd will be dealt with.

It’s the first largescale consent on the North Shore considered under Auckland’s new unitary plan, and the society said on its website the factors opponents raised would remain relevant for the other largescale development sites (see map above).

Link: Devonport Peninsula Precincts Society

Attribution: Company release, society website.

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One unit sells, 3 townhouses passed in

One suburban unit was sold under the hammer at Bayleys’ One Tree Hill auction on Wednesday, and 3 townhouses were passed in at the agency’s other auctionrooms.

Isthmus east

One Tree Hill

68A Rawhiti Rd, unit 1:
Features: 2-bedroom end unit, carport
Outcome: sold for $800,000
Agent: Lindy Lawton

Parnell

7 Cleveland Road, unit 23:
Features: 3-bedroom terrace, 2 bathrooms, study, atrium, double garage
Outcome: passed in, back on market at $915,000
Agent: Fleur Denning

North-east

Takapuna

35C Northcroft St:
Features: 3-level townhouse, 3 bedrooms, internal-access tandem garage
Outcome: passed in
Agents: Jennifer Keenan & Joan Barton

South

Howick

62G Wellington St:
Features: 2-bedroom townhouse, parking space
Outcome: passed in
Agents: Alan & Sue Tucker

Attribution: Agency release.

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Hurstmere Rd & Silverdale retail properties sell

A retail & restaurant property on Hurstmere Rd, Takapuna, sold at a 4.7% yield at Colliers’ auction yesterday, and a predominantly retail Silverdale village property (outlined in picture) sold at a 6.2% yield.

A Titirangi property containing 3 retail tenancies & considerable land was passed in.

North-east

Silverdale

11 Silverdale St:
Features: 1366.7m², total net lettable area 1366m² over 2 levels, 12 tenancies – 8 ground-floor shops, 3 upstairs offices & a storage area, seismic rating 100% of new building standard
Rent: $218,338/year net + gst + opex
Outcome: sold for $3.5 million at a 6.24% yield
Agents: Shoneet Chand & Alan Pracy

Takapuna

42-44 Hurstmere Rd:
Features: 298m² retail property in 2 titles, 3 tenancies on total 315m²
Rent: $147,254/year net + gst
Outcome: sold for $3.125 million at a 4.7% yield
Agents: Euan Stratton, Matt Prentice & Ellie Martin

North-west

Titirangi

408-416 Titirangi Rd & 490 South Titirangi Rd:
Features: 8939m² site in 2 titles, 905m² floor area, 5 retail tenants
Rent: $267,065.30/year net + gst
Outcome: passed in at $3.9 million
Agents: Michael Bray & Deborah Dowling

Attribution: Auction.

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3 industrial sales & 2 leases

Colliers agents have completed the sale of 2 industrial properties & one trade retail site in East Tamaki & Mt Wellington, and signed 2 leases on the Shore.

Sales

Isthmus east

Mt Wellington

3 Donnor Place:
Features: 2749m² industrial property
Outcome: sold for $4.3 million + gst at a 5.52% yield
Agents: Hamish West & Paul Higgins

South

East Tamaki

24A Harris Rd:
Features: 595m² trade retail site
Outcome: sold for $1.85 million + gst at a 5.99% yield
Agents: Jolyon Thomson & Paul Higgins

39D Lady Ruby Drive:
Features: 530m² industrial unit
Outcome: sold for $1.41 million + gst
Agents: Jolyon Thomson & Andrew Hooper

Leases

North-east

Mairangi Bay

5 Saturn Place, unit E:
Features: 140m² warehouse, 116m² office, occupied by Perry Engineering Auckland Ltd on 5-year lease plus 2 3-year rights of renewal
Rent: $40,000/year net
Agents: Mike Ryan & Ryan de Zwart

Rosedale

29 Canaveral Drive:
Features: 923m² industrial property, 5-year lease plus 2 3-year rights of renewal
Rent: $150,000/year net
Agents: Jimmy O’Brien, Matt Prentice & Shoneet Chand

Attribution: Agency release.

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