Archive | North-east

Spread of sales & leases by Shore agents

Latest transactions signed by Bayleys’ North Shore agents included sale of a hostel in the university precinct of downtown Auckland, the lease on a Ranui shop and a sale & 2 leases in the Rosedale area of Albany.

Sales

CBD

Uptown

47 St Paul St, unit 2B:
Features: 179m² 10-room Central Hostel, parking space
Outcome: sold in September for $1.18 million + gst
Agent: David Han

North-east

Rosedale

27-29 William Pickering Drive, unit F4:
Features: 210m² office, 6 parking spaces
Rent: about $55,600/year net + gst
Outcome: sold in September for $765,000 + gst at a 7.27% yield
Agents: Ildy Meixner & Alex Strever

Leases

North-east

Rosedale

1-3 Parkhead Place, unit 2:
Features: 448m² office unit, 9 parking spaces
Rent: leased in September for $95,000/year net + gst, parking $16/space/week      
Agents: Alex Strever, Laurie Burt & Matt Mimmack

10 Vega Place, unit G:
Features: 330m² industrial unit – warehouse 190m², showroom 70m², office 70m², 6 parking spaces
Rent: leased in September for $53,000/year net + gst, premises rental $160.61 (including parking)
Agents: Alex Strever & Laurie Burt

North-west

Ranui

20B Pooks Rd:
Features: 90m² retail
Rent: leased in August for $20,000/year net + gst, premises rental $222/m²
Agents: Dev Choudhury & Damian Stephen

Attribution: Agency release.

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Takapuna campground lease process decision Tuesday

The Devonport-Takapuna Local Board will decide on Tuesday whether to lease the campground on the Takapuna Beach reserve and, assuming it goes with majority public input & a commissioner’s recommendation, should have an operator chosen by the end of March 2018.

Independent commissioner Gerald Rowan heard submissions on the campground proposal in July and his recommendations are up for debate at the local board meeting.

Council property organisation Panuku Development Auckland would start the process toward a new lease by holding a workshop for the board on the expressions of interest process and would run a tender through November.

Panuku would analyse returns over Christmas, shortlist potential operators and run a request for proposal process to the end of February. Panuku would then negotiate & award the lease.

Links:
Devonport-Takapuna Local Board agenda items for meeting Tuesday 19 September at 4pm, Takapuna, council service centre, 1 The Strand:
18, Recommendations regarding proposal to issue a lease on Takapuna Beach Reserve – report from independent commissioner
Report from independent commissioner – proposal to lease part of Takapuna Beach Reserve for a campground
Takapuna Beach Reserve management plan 2013

Earlier stories:
19 February 2017: Next Takapuna Beach reserve decision – how to run a camping ground
14 December 2015: Takapuna Beach campground up for debate again

Attribution: Local board agenda.

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8 out of 10 sell at Bayleys commercial auction

8 of the 10 properties in Bayleys’ Total Property commercial auction yesterday were sold under the hammer.

6 of them were vacant or with short leases. Of the 3 where a yield could be calculated, an Asian supermarket in Papakura (outlined in picture) sold at 4.7%, a Grange hair salon at Warkworth sold at 5.9% and a Birkenhead property with 5 tenants sold at 6%.

Isthmus east

Onehunga

12 George Terrace:
Features: vacant 521m² site, 515m² refurbished standalone industrial building, zone allows live/work or residential
Outcome: sold for $1.4 million
Agents: James Valintine & William Gubb

Parnell

11 Farnham St:
Features: 269m² site, standalone building with 4 levels built 10 years ago, 659m² floor area, private lift to penthouse on top 2 floors, conservatory, 4 bedrooms, 5/6-car garage + secured yard parking on ground floor, partitioned office & amenities on level 1, air-conditioned on levels 1-3
Outcome: sold for $3.22 million
Agents: Millie Liang

St Johns

121 Morrin Rd:
Features: 4755m² site, 2312m² high stud warehouse, 6 roller doors, small office, yard + parking
Rent: short-term tenancy in place
Outcome: sold for $6.81 million
Agents: Jamsheed Sidhwa, Luke Carran & James Valintine

North-east

Birkenhead

49-55 Birkenhead Avenue:
Features: 801m² site, 481m² floor area, 5 tenants, town centre zoning has 21m height limit
Rent: $112,070/year net + gst
Outcome: sold for $1.867 million at a 6% yield
Agents: Michael Nees, David Huang & Oscar Kuang

Browns Bay

755 Beach Rd:
Features: vacant 1029m² site, 70m² building, mixed use zoning allows building height up to 4 storeys
Outcome: passed in at $700,000
Agents: Ranjan Unka & Anna Radkevich

Rosedale

372 Rosedale Rd, unit 2A:
Features: 186.7m² first-floor office, 6 parking spaces, tenant Bayleys Real Estate Ltd
Rent: $58,209/year net + gst + outgoings, 18-month lease from 1 April, 2 18-month rights of renewal
Outcome: no bid
Agents: Matt Mimmack & Eddie Zhong

Unsworth Heights

1 Greenwich Way, shop 7:
Features: 186m² retail unit, tenant BookPrint Ltd
Rent: $51,520/year net + gst + outgoings
Outcome: withdrawn from auction
Agents: Dean Gilbert-Smith & Adam Curtis

Warkworth

The Grange, 67 Auckland Rd, unit 22A & 22B:
Features: 119m² shop, tenant Vivo Beauty Ltd
Rent: $49,100/year net + gst, new 8-year lease
Outcome: sold by the developer, Square & Main Street Ltd (Adam Reynolds) for $830,000 at a 5.9% yield
Agents: Matt Lee, James Chan & Henry Napier

North-west

Henderson

111 Lincoln Rd, unit FB:
Features: retail unit, tenant Petstock
Rent: $105,000/year net + gst, new 6-year lease
Outcome: withdrawn from auction
Agents: Tony Chaudhary & James Chan

South

East Tamaki

20 Ra Ora Drive:
Features: vacant 4885m² site, metalled, fenced & electronic security gate, former Howick Bus Co Ltd depot
Outcome: sold for $2 million
Agents: John Bolton, Roy Rudolph & Katie Wu

Papakura

303-305 Great South Rd:
Features: 2023m² site zoned business mixed use, Asian supermarket tenant
Rent: $161,740/year net + gst, new 4-year lease + 3 4-year rights of renewal
Outcome: sold for $3.44 million at a 4.7% yield
Agents: Quinn Ngo, Matt Lee & Piyush Kumar

Takanini

305 Great South Rd:
Features: vacant 990m² industrial site, 448m² warehouse
Outcome: sold for $1.52 million
Agents: Shane Snijder & Peter Migounoff

Attribution: Auction.

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Updated: National spread of commercial sales for Colliers

Published 5 September 2017, updated 7 September 2017:
Colliers agents have reported a spread of sales from Riverhead & Silverdale in the north of the Auckland region, through Napier and down to Cromwell & Invercargill. Changed details about the Silverdale property are shown immediately below.

North-east

Silverdale

Corrected: 164 Foundry Rd:
Features: 2500m² secure fenced yard – 603m² warehouse, 189m² office & amenities, additional covered storage area, leased to Go-Bus Transport Ltd [originally written as a 3610m² warehouse, no mention of other parts of the property]
Rent: $220,000/year net + gst
Agents: Jimmy O’Brien, Ryan de Zwart & Josh Coburn

North-west

Riverhead

1047-1049 Coatesville-Riverhead Highway:
Features: 1652m², 2-tenant new retail development
Rent: $281,933/year net + gst
Outcome: sold for $5.175 million at a 5.45% yield
Agents: John Davies & Jimmy O’Brien

South of the Bombays

Hawke’s Bay

Napier

47 Petane Rd:
Features: 6439m², hotel + caravan park
Outcome: sold for $1.41 million, at an 8.5% yield
Agents: Reuben George & Dan Walker

South Island

Central Otago

Cromwell

27 McNulty Rd:
Features: 2652m², commercial site leased to Caltex
Outcome: sold for $905,000, at a 6% yield
Agents: Mark Simpson, Rory O’Donnell & Dean Collins

29a McNulty Rd:
Features: 4906m², tenanted industrial property
Outcome: sold for $1.625 million, at a 6.45% yield
Agents: Mark Simpson, Rory O’Donnell & Dean Collins

31 McNulty Rd:
Features: 5618m²,  tenanted industrial property
Outcome: sold for $1.945 million, at a 6.4% yield
Agents: Mark Simpson, Rory O’Donnell & Dean Collins

Southland

Invercargill

5 Liddell St:
Features: 1827m², commercial investment leased to Ideal Electric         
Outcome: sold for $1,001,500, at a 7% yield
Agents: Mark Simpson & Rory O’Donnell

Attribution: Agency release.

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6 Orchard Park transactions among 15 sales & leases

3 units in the Orchard Park retail hub at Albany have been sold and 3 leased by Bayleys agents in the last month.

Goodman Group bought the 12.1ha for Orchard Park in 2012 from Rick Martin’s Cornerstone Group Ltd and its banker, Bank of Scotland subsidiary BOSIAL (BOS International (Australia) Ltd).

The site, at the southern end of what was the Albany City leasehold land, is on both sides of Corinthian Drive, which curls round the southern slope facing back toward Auckland, and is freehold again.

The 3-building Orchard Park retail hub has been developed by Northbridge Properties Ltd (Craig Green). It has 16 units in 2026m² and 94 common parking spaces and is the second stage of retail in the development. The first stage, the Corinthian retail centre, has 14 units.

The Orchard Park deals are among 6 sales & 9 leases in the latest transaction report from Bayleys’ North Shore office.

Sales

North-east

Albany

Orchard Park retail hub, 21-25 Corinthian Drive, unit 8A:
Features: 76m² retail unit
Outcome: sold in August for $701,000 + gst at $9224/m²
Agent: Eddie Zhong

Orchard Park retail hub, 21-25 Corinthian Drive, unit 11A:
Features: 81m² retail unit, shared parking
Rent: $49,971/year net + gst including $5421/year parking share
Outcome: sold in September for $912,000 + gst at $11,993/m², yield 5.48%
Agents: Eddie Zhong, Damian Stephen & Michael Block

Orchard Park retail hub, 21-25 Corinthian Drive, unit 11B:
Features: vacant 92m² retail unit
Outcome: sold in August for $940,000 + gst at $10,217/m²
Agents: Eddie Zhong, Damian Stephen & Michael Block

52 Oteha Valley Rd, unit M:
Features: 278m² standalone retail, corner unit in 13-unit retail complex completed in 2001
Outcome: sold vacant in August for $2.1 million + gst at $7554/m²
Agents: Adam Curtis, Adam Watton & Eddie Zhong

Rosedale

43 Omega St, unit 1H:
Features: 226m² first-floor air-conditioned office unit, 6 parking spaces
Outcome: sold vacant in July for $660,000 + gst at $2920/m² land & building
Agent: Ryan Dannhauser

North-west

Glen Eden

44 Ambler Avenue:
Features: 1348m² residential site           
Outcome: sold in August for $1.28 million + gst
Agents: Michael Block & Damian Stephen

Leases

North-east

Albany

Orchard Park retail hub, 21-25 Corinthian Drive, unit 6B:
Features: 144m² retail area, shared parking
Rent: leased in August for $90,000/year net + gst, premises rental $625/m²
Agent: Eddie Zhong

Orchard Park retail hub, 21-25 Corinthian Drive, unit 7A:
Features: 87m² retail area
Rent: leased in August for $53,672/year net + gst, premises rental $616.92/m²
Agents: Steven Liu & Eddie Zhong

Orchard Park retail hub, 21-25 Corinthian Drive, unit 8B:
Features: 78m² retail area, shared parking
Rent: leased in August for $48,000/year net + gst, premises rental $615/m²
Agent: Eddie Zhong

Rosedale

9 Apollo Drive, unit G:
Features: 130m² office, 4 parking spaces
Rent: leased in May for $31,875/year net + gst, including 4 parking spaces at $21.99/space/week; net rent excluding parking $27,300/year, premises rental $210/m²
Agents: Jane Sims & Steven Liu

43 Apollo Drive, unit D, suite 1:
Features: 15m² office, parking space
Rent: leased in August for $7713/year net + gst, parking $21.35/space/week; net rent excluding parking $6603/year, premises rental $440/m²
Agent: Jane Sims

5 Douglas Alexander Parade, unit C4:
Features: 55m² industrial unit – warehouse 40m², office 15m², 2 parking spaces
Rent: leased in August for $11,500/year net + gst (no allocation for parking), premises rental $209/m²
Agent: Laurie Burt

9 John Glenn Avenue, unit 1:
Features: 755m² warehouse – warehouse 493m², office 198m², mezzanine 64m², 10 parking spaces
Rent: leased in August for $103,000/year net + gst, premises rental $136/m² (no allocation for parking)
Agents: Laurie Burt (Bayleys) & Chase Erceg (Barfoot & Thompson)

59 Paul Matthews Rd, unit 4:
Features: 182.7m² industrial unit, 4 parking spaces
Rent: leased in August for $36,000/year net + gst, parking $15/space/week, net excluding parking $32,880, premises rental $178/m²
Agents: Ildy Meixner & Laurie Burt

Takapuna

15 Auburn St, unit 1C:
Features: 100m² office, 2 parking spaces
Rent: leased in August for $26,000/year net + gst (no allocation for parking), premises rental $260/m²
Agents: Chris White & Jane Sims

Link:
Northbridge Properties 2015 plan, Orchard Park retail hub

Earlier story:
28 September 2012: Goodman’s Orchard Park a 12ha office & light commercial precinct

Attribution: Agency release.

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Schnapper Rock café leased

A café at the start of Schnapper Rock Rd at Albany has been leased by Colliers.

Leased

North-east

Albany

1 Schnapper Rock Rd, unit 3:
Features: 115m² space leased to café
Rent: $55,000/year net +opex + gst        
Agents: Colliers North Shore

Attribution: Agency release.

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Nautilus unit attracts no bid

Ray White City Apartments’ auction was over before it began this week, with no bid on the one property on offer, an apartment in the Nautilus tower at Orewa.

Owners won a $24 million claim against Auckland Council in 2015 for damage caused by leaks, and remediation is underway. This apartment will have to be vacated for at least 6 months from the end of September or early October for remediation in or near it to be done.

North-east

Orewa

Nautilus, 9-11 Tamariki Avenue, unit 1112:
Features: 75m², 2 bedrooms, balcony, tandem parking, storage; the $24 million remediation of the building is underway, and this unit must be vacated for at least 6 months from the end of September
Outgoings: rates $1503/year including gst; body corp levy $3829/year
Outcome: no bid
Agents: James Mairs & Gillian Gibson

Attribution: Auction documents.

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2 townhouse sales

A duplex unit in Royal Oak was sold at Bayleys’ suburban auction series last week and an Onehunga townhouse was sold post-auction.

Isthmus east

Onehunga

9C Curzon St:
Features: single-level 3-bedroom townhouse, 2 bathrooms, double internal-access garage
Outcome: sold post-auction
Agent: Glenn Baker

Royal Oak

22 Turama Rd, unit 2:
Features: 152m², 2-bedroom duplex, double internal-access garage
Outcome: sold for $935,000
Agent: John Procter

North-east

Red Beach

15A Fairway Avenue:
Features: m², 2-bedroom townhouse, office, double garage
Outgoings: rates $/year including gst; body corp levy $/year
Income assessment: $/week
Outcome: passed in
Agents: Karen Asquith & Graeme Mann

Attribution: Agency release.

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Devonport development site sells

A former service station site on Vauxhall Rd, Devonport, sold for $2606/m² at NAI Harcourts’ auction today.

The property was offered on “as is, where is” basis. It’s occupied by a vehicle repair business at the moment, but the vendor waived responsibility for building compliance, potential soil contamination and the condition & status of the site & building.

Council records showed the fuel tanks were removed about 2011.

North-east

Devonport

66 Vauxhall Rd:
Features: 1084m² site in 2 titles, 211m² workshop in former service station, holding income potentially for 3 years
Outgoings: $7478/year + gst rates & insurance, paid by the tenant
Rent: $37,859/year net + gst + opex, 15-year term from September 2005
Outcome: sold for $2.825 million at $2606/m² land
Agents: Dave Lane & Phil Clark

Attribution: Auction.

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4 out of 5 apartments sell at auction

All but one of the 5 apartments auctioned at Ray White City Apartments yesterday were sold under the hammer, or shortly after. Pictured are the Embassy Apartments on Wakefield St.

CBD

Learning Quarter

Forte, 37 Symonds St, unit 909:
Features: 46m², 2-bedroom corner unit, deck
Outgoings: rates $1370/year including gst; body corp levy $4494/year
Income assessment: $540/week current
Outcome: passed in at $481,000
Agents: Aileen Wu

Embassy, 18 Wakefield St, unit 6M:</strong
Features: 109m², 2 bedrooms, balcony, parking space
Outgoings: rates $1825/year including gst; body corp levy $4688/year
Outcome: sold for $792,000
Agents: Daniel Chen & Amy Tsai

The Quadrant, 10 Waterloo Quadrant, unit 1910:
Features: 32m², one bedroom, balcony, out of the hotel lease
Outgoings: rates $1237/year including gst; body corp levy $3930/year
Income assessment: $430/week, fixed until March
Outcome: sold for $388,000 shortly after being passed in at $360,000
Agents: Lucia Gao

Isthmus west

St Marys Bay

Hargreaves, 23 Hargreaves St, unit 201:
Features: 57m², one bedroom, study, parking space, remedial work underway
Outgoings: rates $1116/year including gst; body corp levy $2516/year
Outcome: sold for $121,000
Agent: Victor Liu

North-east

Takapuna

Spencer on Byron, 9-17 Byron Avenue, unit 1501:
Features: 48m², one bedroom, under hotel management
Outgoings: rates $4154/year including gst; body corp levy $3247/year
Outcome: sold for $271,000 + gst
Agents: James Mairs & Gillian Gibson

Attribution: Auction.

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