Archive | Birkenhead

2 apartments sell at Barfoots

2 units sold under the hammer at Barfoot & Thompson’s apartments auction yesterday. A commercial property and an apartment were passed in.

Apartments

CBD

Learning Quarter

Statesman, 1 Parliament St, unit 8:
Features: 93m², 2 bedrooms, parking space
Outgoings: rates $2241/year including gst; body corp levy $4975/year after discount
Outcome: auction postponed until Thursday 23 February
Agents: Stephen Shin & Rhys Chen

Connaught, 14 Waterloo Quadrant, unit 12E:
Features: furnished 35m² studio, balcony, storage locker
Outgoings: body corp levy $3238/year
Outcome: sold for $365,000
Agents: Aaron Cook & Betty Shao

Uptown

Q Central, 32 Liverpool St, unit 5A (pictured):
Features: leasehold, 64m², 2 bedrooms, balcony, 3 parking spaces, storage unit
Outgoings: rates $1317/year including gst; body corp levy $4510/year, ground lease $7310/year
Outcome: sold for $200,000
Agents: Stephen & Leo Shin

Quest Auckland, 363 Queen St, unit 6F:
Features: 47m², one bedroom, parking space
Outgoings: rates $1273/year including gst; body corp levy $4333/year
Outcome: passed in at $465,000
Agents: Stephen & Leo Shin

Commercial

North-east

Birkenhead

31 Huka Rd:
Features: 414m² section, 180m² house with childcare tenant
Outcome: passed in at $850,000
Agents: Duane Mullooly & Chris Peterson

Attribution: Auction.

Continue Reading

Updated: Strong yields as 14 sell at Bayleys’ commercial auction, 3 post-auction sales

Published 2 December 2016, updated 5 & 12 December 2016:
Strong yields were a feature as 14 of the 27 properties taken to auction in Bayleys’ final Total Property portfolio for the year were sold under the hammer on Wednesday.

They included 3 units sold in stage 3 of the Grange development (pictured) at the southern entrance to Warkworth, and another one sold post-auction.

2 other properties have been sold post-auction – a unit on Amera Place, East Tamaki, and a property on Moore St, Howick, sold on a 4.1% yield.

CBD

Federal St

205 Federal St, unit R1:
Features: 60m², one of only 2 retail tenants in Federal City apartment building, 8-year lease from July 2014
Rent: $29,120/year net + gst
Outcome: passed in at $475,000
Agents: Piyush Kumar & Oscar Kuang

Learning Quarter

23 Whitaker Place, units 110 & 111:
Features: 120m² unit, suitable for restaurant
Rent: $23,478.26/year from tenant on 3-year lease from 1 August 2014
Outcome: sold for $150,000
Agents: Nicolas Ching & Beterly Pan

Queen St

Mid-City, 239 Queen St, unit 2A:
Features: 282m² floor area on first floor, tenant the Ryo Japanese restaurant, 6-year lease, 2 rights of renewal
Rent: $120,000/year average from 6-year lease
Outcome: no bid
Agents: Graeme Sun & Oscar Kuang

Uptown

3 shops & gym of 14 ground-floor commercial units in the Summit on Symonds apartment conversion building, next to the Langham Hotel at the corner of Karangahape Rd & Symonds St:

105 Symonds St, shop 5, Nata Portuguese Bakery:
Features: 69.47m², 6-year lease
Rent: $49,400/year net + gst
Outcome: passed in at $500,000
Agents: Millie Liang

105 Symonds St, shop 9, laundromat:
Features: 43.41m², self-service laundromat, 8-year lease
Rent: $30,387/year net + gst
Outcome: passed in at $350,000
Agents: Millie Liang

105 Symonds St, shop 11, The Corner Café:
Features: 68.39m², 8-year lease
Rent: $47,873/year net + gst
Outcome: passed in at $500,000
Agents: Millie Liang

103-105 Symonds St, unit 15, Anytime Fitness:
Features: m², 10-year lease, beside the entrance to the Langham Hotel
Rent: $184,000/year net + gst
Outcome: withdrawn from auction
Agents: Millie Liang

Isthmus east

Onehunga

106 Beachcroft Avenue:
Features: 692m² site, 431m² standalone warehouse & office building
Outcome: sold vacant for $1.505 million
Agents: James Valintine & Graeme Moore

255 Onehunga Mall:
Features: 379m² site, Cotton On Clothing (NZ) Ltd on 8-year lease from 15 August with one 8-year right of renewal
Rent: $110,000/year + gst + outgoings, 3%/year rental growth
Outcome: sold for $2.21 million at a 4.98% yield
Agents: Tony Chaudhary & Damien Bullick

Otahuhu

121 Church St:
Features: 731m² site zoned terrace housing & apartment building, 138m² floor area, medical centre on 5-year lease from October 2015
Rent: $48,000/year + gst + outgoings
Outcome: declared reserve of $800,000, sold prior for $933,000 at a 5.14% yield
Agents: Tony Chaudhary & Janak Darji

Panmure

141-157 Queens Rd:
Features: 2963m² site on 2 titles, 1464m² floor area, 35 parking spaces, residential potential under the unitary plan, 27m height limit
Rent: $357,000/year net + gst
Outcome: no bid
Agents: Mark Pittaway

Penrose

419B Church St East:
Features: 1596m² industrial site, 25 parking spaces, 8-year head lease to Southpark Corp Ltd from 1 November 2015
Rent: $25,485/year net + gst
Outcome: passed in after vendor bid at $3.7 million
Agents: James Hill & Ben Bayley

Isthmus west

Morningside

4 Taylors Rd:
Features: 809m² site zoned mixed use, 585m² office & high stud warehouse
Outcome: sold vacant for $2.9 million
Agents: Scott Kirk & James Were

Pt Chevalier

1191 Great North Rd:
Features: 226m² retail, occupied by optometrist & osteopath
Rent: $83,900/year
Outcome: sold for $1.55 million at a 5.4% yield
Agents: Owen Ding & Quinn Ngo

North-east

Birkenhead

268 Onewa Rd, unit 10A:
Features: 125m², office & residential tenancies, town centre zoning, 2 parking spaces
Rent: $23,464.57/year net + gst + outgoings
Outcome: withdrawn from auction
Agents: Tonia Robertson & Chris White

Torbay

934 Beach Rd:
Features: cross-lease, 1/3 share in 1072m², 140m² beachfront retail, only business-zoned property on the Torbay/Waiake beachfront, taken to auction by the Official Assignee under the Criminal Proceeds (Recovery) Act
Outcome: sold for $1.8 million
Agents: Damian Stephen & Adam Curtis

Warkworth

4 units in stage 3 of the Grange, 67 Auckland Rd, development by Square & Main St Ltd (Adam Reynolds), stages 1 & 2 both fully sold
Agents: Matt Lee, Quinn Ngo, Jan Hutcheson & James Chan, and Paul Dixon on unit 14

Unit 5A, Cizzlin:
Features: 128.3m², 8-year lease
Rent: $65,000/year net + gst
Outcome: sold for $1.005 million at a 6.47% yield

Unit 13B, The Grange Bakery:
Features: 76.8m², 5-year lease
Rent: $30,000/year net + gst
Outcome: sold for $560,000 at a 5.34% yield

Unit 11, Fish Nets:
Features: 59m², 10-year lease
Rent: $30,975/year net + gst
Outcome: sold for $565,000 at a 5.48% yield

Updated: Unit 14, Green Bay Fruit & Veg:
Features: 297.2m², 8-year lease
Rent: $92,500/year net + gst
Outcome: passed in after vendor bid at $1.25 million, sold post-auction for $1.365 million at a 6.77% yield

Unit 22, Cross Gate Variety Store:
Features: 373.7m², 6-year lease
Rent: $86,700/year net + gst
Outcome: withdrawn from auction

North-west

Henderson

349 Great North Rd:
Features: 276m² site, 10-year lease from July
Rent: $50,000/year net + gst
Outcome: sold for $1.045 million at a 4.8% yield
Agents: Mike Adams & Laurie Bell

Lincoln North shopping centre, 192 Lincoln Rd, unit B4:
Features: 60.12m², retail unit, new 5-year lease to OPSM
Rent: $22,545/year net + gst
Outcome: sold for $465,000 at a 4.85% yield
Agents: Matt Lee & Quinn Ngo

South

East Tamaki

Updated: 12 Amera Place, unit 5:
Features: 105m² unit, 6-year lease starting this month
Rent: $50,150/year net + gst + outgoings
Outcome: passed in at $900,000, sold post-auction for $910,000 at a 5.5% yield
Agents: Katie Wu & John Bolton

9-11 Nandina Avenue:
Features: 2 titles, each of 2552m², metalled & flat, 74m road frontage, business 5 zoning
Outcome: sold for $2.86 million
Agents: John Bolton & Katie Wu

Howick

Updated: 8-14 Moore St:
Features: 875m² site zoned business town centre under unitary plan, 590m² floor area, 6 tenancies
Rent: $94,262.74
Outcome: passed in at $2.11 million, sold post-auction for $2.3 million at a 4.1% yield
Agents: Tony Chaudhary & Janak Darji

Manukau

Pacific Retail Centre, 792 Great South Rd, unit 6:
Features: 89m² Subway restaurant
Rent: $39,367.45/year net + gst + outgoings
Outcome: passed in at $750,000
Agents: Terry Kim & Janak Darji

52-58A St George St:
Features: 971m² in 2 titles zoned town centre under unitary plan, 2 tenants,
Rent: $80,040/year + gst
Outcome: no bid
Agents: Oscar Kuang & James Chan

Pukekohe

1722 & 1748 Buckland Rd:
Features: 14.4336ha in 2 titles overlooking Pukekohe racetrack, zoned future urban, proposed light industrial, has 3-bedroom house & 2-bedroom cottage
Outcome: no bid
Agents: Shane Snijder & Peter Migounoff

South of the Bombays

Coromandel

Whitianga

17 Monk St:
Features: 516m² site, 800m² floor area – 4 shops in 335m² on ground floor, plus carport, 2 apartments in 376m² upstairs licensed as traveller accommodation, plus 60m² deck & terrace; separate studio & workshop
Rent: about $53,000/year net
Outcome: sold for $1.03 million at a 5.15% yield
Agent: Noel Rogers

Hawke’s Bay

Napier

359 Marine Parade:
Features: 1413m² site, 20 self-contained motel units + manager’s accommodation
Rent: $225,750/year + gst from motel lease running until 2040
Outcome: sold for $3.75 million at a 6% yield
Agents: Paul Dixon & Sam MacDonald

Attribution: Auction.

Continue Reading

Birkenhead building passed in

A Birkenhead building (outlined) with 2 streetfront tenancies but otherwise vacant was passed in at NAI Harcourts’ auction yesterday.

North-east

Birkenhead

12 Birkenhead Avenue:
Features: 837m² site, 884m² 3-level building zoned town centre under the proposed unitary plan, with potential height limit of 27m, first & second floors vacant
Outgoings: $11,611/year
Rent: holding income of $75,000/year + gst, including outgoings, from 91m² ground-floor shop & 153m² restaurant
Outcome: passed in at $2.3 million
Agents: Isaac Tankard & Jerry Zheng

Attribution: Auction.

Continue Reading

Mokoia Rd building sells post-auction

An office building on Mokoia Rd, Birkenhead, was sold on a 5.5% yield within hours of being auctioned at Colliers’ Takapuna office on Friday.

North-east

Birkenhead

102C Mokoia Rd:
Features: 439m², 2-level office building at the northern end of Mokoia Rd between the retail & commercial precinct and the residential catchment, occupied by one tenant who began their 6-year lease in May 2013, personal guarantees from company directors; ground floor 223m², first floor 216m², deck; 18m² with views across harbour to cbd, parking under building for 12 cars; zoned residential 7, to become mixed use under the draft unitary plan
Rent: $89,621/year net
Outcome: sold post-auction for $1.62 million at a 5.5% yield
Agents: Melissa He & Euan Stratton

Attribution: Agency release.

Continue Reading

Maungaturoto hotel among sales & leases

Bayleys North Shore agents have reported 5 sales of commercial property in April & June and 4 leases. They include sale of the Maungaturoto Hotel and buildings at Birkenhead, Riverhead & Rosedale, leases on offices in Browns Bay & Takapuna and yard space at Dairy Flat.

Sales:

North

Maungaturoto

35 Hurndall St East:
Features: 13,224m² site, Maungaturoto Hotel
Rent: $57,200/year net
Outcome: sold in April for $415,000 + gst
Agents: Michael Nees, Brian Caldwell & Simon Aldridge

North-east

Birkenhead

65-67 Birkenhead Avenue:
Features: 744m² site, 1042m² retail & office building
Rent: $200,000/year net
Outcome: sold in June for $3.2 million + gst
Agents: Adam Watton, Adam Curtis & Damian Stephen

Riverhead

15 Timber Place:
Features: 2164m² industrial building
Outcome: sold in June for $620,000 at $286/m²
Agent: Rosemary Wakeman

Rosedale

18 Triton Drive, unit E4:
Features: 220m² industrial unit – office 170m², warehouse 50m², 4 parking spaces, Niagara Healthcare as tenant
Rent: $33,000/year net
Outcome: sold in June for $620,000 at 5.3% yield
Agents: Adam Watton & Adam Curtis

39 William Pickering Drive:
Features: 2749m² site, 1890.4m² building
Rent: $235,000/year net
Outcome: sold in June for $4 million + gst at 5.875% yield, $2116/m² building
Agent: Matt Mimmack

Leases:

North-east

Browns Bay

77-85 Clyde Rd:
Features: 98m² office, parking space
Rent: $26,290/year net, premises rental $255/m²
Agent: Steven Liu

Dairy Flat

1748 Dairy Flat Highway:
Features: 1200m² yard
Rent: $26,400/year net + gst, premises rental $22/m²
Agents: Rosemary Wakeman & Eddie Zhong

Part 1744 Dairy Flat Highway:
Features: 1500m² yard
Rent: $33,000/year net + gst, premises rental $22/m²
Agent: Rosemary Wakeman

Takapuna

501-505 Lake Rd, level 1, suite 2:
Features: 91m² office, 2 parking spaces
Rent: $30,668.80/year net + gst, parking $50/space/week, $25,468.80/year net excluding parking, premises rental $280/m²
Agents: Ryan Dannhauser & Matt Mimmack

Attribution: Agency release.

Continue Reading

6 sales & 2 leases for Bayleys’ Shore agents

Agents from Bayleys’ North Shore office have completed sales this month at Grey Lynn, Hobsonville, Rosedale & Silverdale, and leases at Birkenhead & Rosedale.

Sales:

Isthmus west

Grey Lynn

8 Newton Rd (pictured):
Features: 304m² mixed-use site, 318m² total floor area, New York loft-style apartment upstairs, commercial possibilities downstairs, seismic rating 70% new building standard 4 parking spaces
Outcome: passed in at $1.4 million at auction on 2 March, sold in May for $1.705 million + gst at $5680/m² land & building
Agents: Tonia Robertson & Chris White

North-east

Rosedale

4 Orbit Drive, units I1, I2 & I5:
Features: 850m² office unit
Rent: $260,963/year net
Outcome: sold in May for $3.645 million + gst at 7.1% yield, $4288/m² land & building
Agent: Matt Mimmack

96 Rosedale Rd, unit 9:
Features: 200m² retail unit – 158m² retail area, 42m² deck, shared parking
Outcome: sold in May for $1.35 million + gst at $6750/m² land & building
Agents: Eddie Zhong, Damian Stephen & Michael Block

96 Rosedale Rd, unit 17:
Features: 82m² retail unit, shared parking
Outcome: sold for $650,000 + gst at $7927/m² land & building
Agents: Terry Kim & Eddie Zhong

Silverdale

44 Silverdale St, unit 4:
Features: vacant 77m² retail unit, shared parking
Outcome: sold in May for $425,000 + gst at $5519/m² land & building
Agents: Adam Curtis & Adam Watton

North-west

Hobsonville

102 Hobsonville Rd, lot 5, unit 6:
Features: 510m² industrial unit – warehouse 380m², office 130m²
Outcome: sold in May for $1.365 million + gst at $2676/m² land & building
Agent: Matt Mimmack

Leases:

North-east

Birkenhead

9-11 Birkenhead Avenue:
Features: 65m² office
Rent: leased in May for $17,000/year net + gst, $261.54$/m² land & building
Agents: Chris White & Tonia Robertson

Rosedale

15 Piermark Drive, unit I:
Features: 172m² industrial unit, 8 parking spaces
Rent: $35,000/year net + gst, premises rental $203/m²
Agent: Ashton Geissler

Attribution: Agency release.

Continue Reading

Last of the first and first of the second Total Property portfolios sold

Bayleys agents have sold the last of the dozen properties auctioned in the first Total Property portfolio of the year and the first in the second Total Property portfolio.

The agency sold 11 properties in the first portfolio in April, leaving a Wairau Park unit (pictured) the only one unsold. It’s now gone at a 6.14% yield.

One property in the second portfolio, 2 buildings on a large Mangere East site, was auctioned on Wednesday and sold under the hammer.

Also listed below are a sale at Bombay and 3 Shore leases.

Sales

North-east

Wairau Valley

Wairau Park, 12 Link Drive, unit F (pictured):
Features: 649m² roadfront unit, seismic rating 99% new building standard, 14 parking spaces
Rent: $164,991/year net + gst + opex from 2 established tenants on new leases, The Furniture Store Ltd on 6-year lease from October 2015 and hairdresser Massoumeh Mohammad: Pookar on 6-year lease from last month
Outcome: passed in at $2.4 million at Total Property auction on 13 April, sold in May for $2.68 million + gst at 6.14% yield, $4117/m²
Agents: Simon Aldridge, Michael Nees, Trevor Duffin & Adam Watton

South

Bombay

216 Mill Rd:
Features: 2500m² retail building, 6 shops at BP Bombay Hills service centre
Rent: $314,932/year net
Outcome: sold in March for $3.38 million + gst at 9.3% yield, $1352/m²
Agents: Damian Stephen & Michael Block

Mangere East

22 Alderman Place:
Features: 4160m² site, 2 main buildings, a 693m² meat-processing plant building and a 366m² frozen storage building with a 9.5m stud
Outcome: sold with vacant possession for $2.6 million
Agents: Stuart Bode, Dave Stanley & James Chan

Leases

North-east

Beachhaven

318 Beachhaven Rd, unit L:
Features: 206m² warehouse unit – warehouse 132.17m², office 88.83m², 5 parking spaces
Rent: leased in May for $23,200/year net + gst, premises rental $112.62/m²
Agents: Ashton Geissler & Trevor Duffin

Rosedale

18 Tarndale Grove, unit B:
Features: 352m² industrial unit – warehouse 140m², office 126m², low stud area 43m², mezzanine 43m²
Rent: leased in May for $45,000/year net + gst, premises rental $128/m²
Agents: Laurie Burt & Adam Wattan

Takapuna

507 Lake Rd:
Features: 550m² retail
Rent: leased in May for $110,000/year net + gst, premises rental $200/m²
Agents: Adam Curtis, Damian Stephen & Eddie Zhong

Attribution: Agency release.

Continue Reading

21 sell out of 34 offered at Bayleys Total Property auction

Bayleys finished its Total Property auction series for the year with 20 sales under the hammer on Wednesday from 34 properties offered, and a post-auction sale confirmed yesterday. Another 11 were withdrawn from the auction.

Image at top: 8 Newton Rd, Grey Lynn, a refurbished building with a mix of uses including a loft-style apartment, sold vacant.

CBD

Quay Park

8 Quay St, unit 1:
Outcome: withdrawn from auction
Agents: Owen Ding & Quinn Ngo

Victoria St

Lister Building, 9B Victoria St East:
9B Victoria Street East, Auckland Central:
Features: 48m² shop, lease to convenience store for 3 years from June 2015, one 6-year right of renewal
Rent: $48,000/year net + gst, yearly 2.5% increases from June 2018 if renewal exercised
Outcome: sold for $820,000 at a 5.85% yield
Agents: Quinn Ngo & Owen Ding

Waterfront

Princes Wharf, 137 Quay St, shed 19, unit 2:
Features: 482m2 leasehold commercial unit plus 63.5m² outdoor seating area, ground rent prepaid until 2095
Outcome: sold for $1.15 million at mortgagee sale
Agent: Tony Bayley

Isthmus east

Ellerslie

38 Eaglehurst Rd, unit 9:
Outcome: withdrawn from auction
Agents: Dave Stanley & James Valintine

Epsom

89B Great South Rd:
Features: 167m2 site, character 2-level 111m2 live/work unit, 2-year lease to tailoring business from March 2015 plus one 2-year right of renewal
Rent: $28,350/year net + gst
Outcome: sold for $675,000 at a 4.2% yield
Agents: Oscar Kuang, James Chan & Terry Kim

Otahuhu

24 Atkinson Avenue, Otahuhu, retail building with development potential.

24 Atkinson Avenue, Otahuhu, retail building with development potential.

24 Atkinson Avenue:
Features: 385m2 mixed-use corner site, height limit of 20.5m under proposed unitary plan, 3 ground-floor retail outlets & 2 flats upstairs
Rent: $42,000/year net + gst from 2 retail leases & one residential tenancy
Outcome: sold for $985,000
Agents: Piyush Kumar, Shane Snijder & Tony Chaudhary

Penrose

35 Maurice Rd, unit I:
Outcome: withdrawn from auction
Agents: Tony Bayley

Isthmus west

Avondale

1977 Great North Rd, Avondale, sold at a yield just under 5%.

1977 Great North Rd, Avondale, sold at a yield just under 5%.

1977 Great North Rd:
Features: 202m² site, 265m² building in block of shops, ground-floor lease to a fruit & vege retailer until June 2017, one 3-year right of renewal, basement area vacant
Rent: $26,400/year net + gst
Outcome: sold for $530,000 at a 4.98% yield
Agents: Mike Adams, James Appleby & Quinn Ngo

Eden Terrace

74D France St:
Outcome: passed in
Agents: Ben Wallace & Matt Gordon

33 Randolph St:
Features: Vacant 2-level 364m² building, ground-floor warehousing & refurbished loft-style upper level suitable for office or apartment use; on 281m² mixed-use site with increased height limit of 32.5m under proposed unitary plan
Outcome: passed in at $1.8 million
Agents: Damien Bullick, Alan Haydock & Jean-Paul Smit

Grey Lynn

564 Great North Rd:
Outcome: passed in, vendor bid of $600,000
Agents: Simon Aldridge & Michael Nees

8 Newton Rd:
Features: 304m2 mixed-use site, 317.5m2 striking architecturally designed & refurbished 2-level building, loft-style apartment with open-plan, character ground-floor space, 4 parking spaces
Outcome: sold vacant for $1.6 million
Agents: Cameron Melhuish & Andrew Wallace

116-120 Surrey Crescent:
Features: 3 dwellings converted to childcare centre plus flat, total 575m² on 1515m² residential 6A site, zoned mixed use under proposed unitary plan; 10-year lease to NZX-listed Evolve Group from July 2012, 2 3-year rights of renewal
Rent: $190,383/year net + gst, 2-yearly CPI adjustments
Outcome: sold for $4.155 million at a 4.6% yield
Agents: Mark Pittaway & James Chan

Mt Eden

718 Dominion Rd:
Outcome: withdrawn from auction
Agents: Oscar Kuang & James Chan

Pt Chevalier

1104 Great North Rd:
Features: 255m² retail unit, parking at front, occupied by Video Ezy on monthly lease until end of year, plus ASB ATM lease
Rent: $88,100/year net + gst
Outcome: sold for $1.05 million at an 8.4% yield
Agents: Quinn Ngo & Matt Lee

North

Kerikeri

60 Kerikeri Rd, unit G06:
Outcome: no bid
Agents: Michael Nees & Brian Caldwell

Warkworth

Artist’s impression of The Grange, Warkworth.

Artist’s impression of The Grange, Warkworth.

3 tenancies were taken to auction in the new Grange retail convenience centre being developed by Square & Main Street Ltd (Adam Reynolds), nearing completion on the former garden & hardware centre site on the southern side of Warkworth. The property at 67 Auckland Road (State Highway 1) covers 7089m²and will have 22 tenancies.

The Grange, 67 Auckland Road, unit PU4, The Coffee Club:
Features: 210m2 unit, including 50m2 covered, all-weather deck & courtyard area, 10-year lease to Coffee Club & one 10-year right of renewal
Rent: $82,500/year net + gst
Outcome: sold for $1.55 million at a 5.3% yield
Agents: James Chan & Steve Orr

The Grange, unit PU2, Bottle-O:
Features: 200m² unit, 8-year lease to independently owned & operated NZ retail liquor store plus 2 4-year rights of renewal
Rent: $70,000/year net + gst
Outcome: sold for $1.16 million at a 6% yield
Agents: Quinn Ngo & Steve Orr

The Grange, unit PU3A, Indian restaurant:
Features: 142m² unit, including 25m2 deck, leased to local Indian restaurant on 10-year term, 2 5-year rights of renewal
Rent: $50,550/year net + gst
Outcome: passed in at $600,000
Agents: James Chan & Matt Lee

North-east

Albany

52 Oteha Valley Rd, unit M:
Features: 278mstandalone retail building occupied by the Meat King for 14 years, new 4-year lease plus one 4-year right of renewal
Rent: $114,000/year net + gst
Outcome: sold for $2.05 million at a 5.6% yield
Agents: Adam Curtis & Adam Watton

Birkenhead

65-67 Birkenhead Avenue:
Outcome: passed in at $2.6 million
Agents: Damian Stephen & Adam Curtis

Rosedale

8 Arrenway Drive:
Outcome: no bid
Agents: Matt Mimmack & Laurie Burt

36 Tarndale Grove:
Outcome: withdrawn from auction
Agents: Matt Mimmack & Ashton Geissler

18 Triton Drive, unit H1:
Outcome: passed in, vendor bid of $900,000
Agents: Terry Kim & Damian Stephen

49A William Pickering Drive:
Features: 368m2 building, 56m2 courtyard, 24 parking spaces, 9-year lease to New Brew bar & restaurant from September 2014 & one 6-year right of renewal
Rent: $123,360/year net + gst
Outcome: sold for $2.265 million at a 5.4% yield
Agents: Ashton Geissler, Ranjan Unka, Damian Stephen & Tony Chaudhary

Sunnynook

318 East Coast Rd:
Outcome: passed in
Agents: Tony Chaudhary & Ranjan Unka

Wairau Valley

20 Link Drive, unit MM:
Outcome: no bid
Agents: Adam Watton & Michael Block

North-west

Henderson

103 Lincoln Rd:
Features: 809msite, 110m2  dwelling converted for office use
Outcome: sold with vacant possession for $1 million
Agents: Tony Chaudhary & James Appleby

192 Universal Drive, unit A6:
Outcome: withdrawn from auction
Agents: Alan Haydock & Cameron Melhuish

New Lynn

76 Delta Avenue:
Outcome: passed in
Agents: Grant Miller & Peter Turner

Te Atatu Peninsula

29 Neil Avenue:
Features: 819mcorner site, 3 retail tenancies – a hairdresser, dairy & chocolate maker – plus vacant 3-bedroom flat    
Rent: $47,650/year net + gst
Outcome: sold for $880,000 at a 5.4% yield
Agents: Tony Chaudhary & Mike Adams

South

East Tamaki

171 Harris Rd:
Outcome: withdrawn from auction
Agents: Jamsheed Sidhwa & Luke Carran

2 Kerwyn Avenue, unit C:
Features: 1149m² industrial unit with access also from Springs Road, 24 parking spaces, seismic assessment of 140% new building standard
Rent: holding income until May of $149,000/year net + gst
Outcome: sold to owner-occupier for $1.7 million
Agents: Tony Chaudhary, John Bolton & Janak Darji

5A Nandina Avenue:
Features: 806m² roadfront industrial unit, occupied by gym for over 25 years, currently on 6-year lease from August 2011 with 2 2-year rights of renewal, 21 parking spaces
Rent: $88,000/year net + gst
Outcome: sold for $1.5 million at a 5.9% yield
Agents: Dave Stanley, Mike Marinkovich, & Tony Chaudhary

Pakuranga, Highland Park

168 Aviemore Drive, unit G:
Features: 314m2 upper level of 2-level commercial building, new 4-year lease plus 2 4-year rights of renewal to Creative Dental Ltd
Rent: $79,020/year net + gst
Outcome: sold for $1 million at a 7.9% yield
Agents: Geoff Wyatt & Nick Bayley

Howick

5 retail units in an established convenience centre at 219 Moore St, Howick, were on Wednesday’s auction list but 3 were among properties withdrawn when the auction ran over time.

219 Moore St, unit A:
Outcome: passed in at $1.135 million
Agents: Millie Liang & Tony Chaudhary

219 Moore St, units B, C & D:
Outcome: withdrawn from auction
Agents: Millie Liang & Tony Chaudhary

219 Moore St, unit E:
Outcome: passed in at $1.15 million
Agents: Millie Liang & Tony Chaudhary

10 Wellington St, unit 8:
Features: 85m² retail unit in The Terraces retail & residential complex, leased to clothing store
Rent: $33,592/year net + gst
Outcome: sold for $470,000 at a 7.1% yield
Agents: Quinn Ngo & Geoff Wyatt

Mangere

17 Airpark Drive, unit 7:
Features: 450m2 modern, high-stud, tilt slab warehouse in Airport Oaks precinct
Outcome: sold with vacant possession for $870,000
Agents: Nick Bayley & Dave Stanley

Manurewa

165 Great South Rd:
Features: 455m2 site, 350m2 retail block with 3 tenants – dairy, hair salon & butcher
Rent: $90,800/year net + gst
Outcome: sold for $1.55 million at a 5.85% yield
Agents: Tony Chaudhary & Piyush Kumar

Waiuku

18 Martyn St:
Outcome: withdrawn from auction
Agents: Tonia Robertson & Tony Chaudhary

South of Bombays

Waikato – Raglan

2 Main Rd:
Features: 1167m² site, BP service station & workshop, 20-year head lease from July 2014 to a wholly owned subsidiary of No 8 Retail Group Ltd, 4 6-year rights of renewal, only petrol station in the town
Rent: $115,000/year net + gst, 4% rental increases every 2 years
Outcome: sold post-auction for $ 2.115 million at a 5.4% yield
Agents: Tony Chaudhary & Janak Darji, Bayleys South Auckland

Attribution: Auction.

Continue Reading

Childcare centre sells at 5.3% yield

The one property taken to auction at Colliers yesterday – a Birkenhead childcare centre – was sold under the hammer at a 5.3% yield.

North-east

Birkenhead

71 Roseberry Avenue:
Features: 634m² section, 2-level complex substantially redeveloped into a childcare centre in 2008, licensed for 60 children, Evolve Education Group Ltd as tenant, Lollipops Educare (Birkenhead Properties) Ltd (now LEBP Ltd) as vendor
Rent: $134,160 + gst + opex ($43/child/week) on 15-year lease from 1 October
Outcome: sold for $2.53 million at a 5.3% yield
Agents: Peter Kermode, Shoneet Chand & Jimmy O’Brien

Attribution: Auction.

Continue Reading

2 Birkenhead commercial properties sell, Glendene shop passed in

2 commercial properties in Birkenhead – one in a villa, the other a development site – were sold under the hammer at NAI Harcourts’ auction on Wednesday. A Glendene shop was passed in.

North-east

Birkenhead

134A Hinemoa St:
Features: 2 tenancies of 50m² each
Rent: $38,000/year + gst + outgoings from 2 tenancies
Outcome: sold for $1.001 million
Agents: Isaac Tankard

125-127 Mokoia Rd:
Features: 1942m² in 2 titles, about 300m² of building, commercial property in residential area on commercial fringe of Birkenhead, zoned business 1, neighbourhood centre in proposed unitary plan, ex-service station now mechanical repairs & tyre business
Outcome: sold with vacant possession for $2.81 million
Agents: Rob Meister & Andrew Bruce

North-west

Glendene

Glendene Shopping centre, 1/4343 Great North Rd:
Features: 353m² retail unit
Rent: vacant
Outcome: passed in at $900,000
Agents: Gautama Kaishik

Attribution: Auction.

Continue Reading
WordPress Appliance - Powered by TurnKey Linux