Archive | Mairangi Bay

Whangaparaoa retail units sell

2 retail spaces in a commercial centre opened on the Whangaparaoa Peninsula late last year, were sold under the hammer at auction at Colliers’ Takapuna office on Wednesday.

A Mairangi Bay office was also sold, but a shop in the Grange, on the southern edge of Warkworth, was passed in.

North-east

Mairangi Bay

18 Triton Drive, unit H3:
Features: 238m² first-floor office, 4-year lease
Rent: $65,280/year net + gst        
Outcome: sold for $985,000 at a 6.62% yield
Agents: Janet Marshall & Nick Recordon

Warkworth

The Grange, 67 Auckland Rd, unit 22:
Features: 373m² of retail space in the Grange retail precinct, Cross Gate Discount Store on 6-year lease
Rent: $86,700/year net + gst
Outcome: passed in
Agents: Euan Stratton & Sean Honeycombe

Whangaparaoa

651 Whangaparaoa Rd, unit 2:
Features: 128m² of new retail space, 35m² of outdoor dining, occupied by Valentino’s Gelato Café,10-year lease
Rent: $68,155/year net + gst        
Outcome: sold for $1.41 million at a 4.83% yield
Agents: Euan Stratton & Jessica Martin

651 Whangaparaoa Rd, unit 3:
Features: 50m² of retail space occupied by Hello World Travel on an 8-year lease
Rent: $27,500/year net + gst        
Outcome: sold for $580,000 at a 4.74% yield
Agents: Euan Stratton & Jessica Martin

Image: The development at 651 Whangaparaoa Rd, in foreground.

Attribution: Agency release.

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Mairangi Bay unit sells

One suburban unit sold at Bayleys’ auction in Takapuna on Thursday.

North-east

Mairangi Bay

7A Brighton Terrace, unit 1:
Features: 2-bedroom end unit, study nook, garage
Outcome: sold for $875,000
Agents: Peter Christofferson & Stephanie Glennie

Attribution: Agency release.

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Mairangi Bay townhouse sells at auction

A brick & tile unit in One Tree Hill and a Mairangi Bay townhouse were sold at Bayleys auctions around Auckland last week.

Isthmus east

One Tree Hill

18 Tawhiri Rd, unit 4:
Features: 3-bedroom unit, carport
Outcome: passed in, back on market at $887,000
Agent: Ruth Inwood

North-east

Mairangi Bay

16A Hastings Rd:
Features: 2-bedroom townhouse, internal-access garage
Outcome: sold for $890,000
Agents: Tara Menzies & Malcolm Low

Attribution: Agency release.

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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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Decade-old warehouse sells just below 5%

A 10-year-old Mairangi Bay office & warehouse unit was sold at a yield just under 5% at Colliers’ auction yesterday. A second warehouse, in Mt Wellington, was passed in.

Isthmus east

Mt Wellington

3 Donnor Place:
Features: 2749m² site, 1600m² building – 1155m² warehouse, 3 roller doors, clearspan concrete construction, 7m stud, 445m² office & showroom on 2 levels, 18 staff parking spaces
Rent: $237,467/year net + gst, 6-year lease
Outcome: passed in
Agents: Hamish West & Paul Higgins

North-east

Mairangi Bay

52 Arrenway Drive, unit A:
Features: 837m² office & warehouse
Rent: $150,295/year net + gst
Outcome: sold for $3.03 million at a 4.96% yield
Agents: Matt Prentice, Mike Ryan & Shoneet Chand

Attribution: Auction documents.

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Sale & 4 leases for Shore agents

Bayleys agents on the North Shore have sold a unit in Rosedale Mews and signed 3 leases in Mairangi Bay & Rosedale, plus the lease on a 4m² retail unit in Queens Court, across the road from the Auckland Town Hall.

Sales:

North-east

Rosedale

Rosedale Mews, 51 William Pickering Drive, unit 12:
Features: 180m² unit on the corner of Rosedale Rd – retail 60m², office 60m², warehouse 60m²
Rent: $14,000/year net
Outcome: sold in November for $700,000 + gst at $3889/m²
Agents: Michael Nees, Adam Watton, Adam Curtis, Simon Aldridge & David Huang

Leases:

CBD

Queen St

368 Queen St, unit G43:
Features: 4m² retail unit
Rent: leased in November for $2303/year net + gst, premises rental $575.75/m², gross rent $7800/year + gst
Agent: Steven Liu

North-east

Mairangi Bay

14 Vega Place, unit F:
Features: 534m² unit – office 178m², warehouse 356m², 10 parking spaces
Rent: leased in November for $80,000/year net + gst, premises rental given as $149.81/m², so free parking
Agents: Ashton Geisler & Laurie Burt

Rosedale

33 Apollo Drive, unit 3:
Features: 174m² office unit, 5 parking spaces
Rent: leased in November for $46,960/year net + gst, parking $20/space/week, net excluding parking $41,760/year, premises rental $240/m²
Agents: Ryan Dannhauser & Alex Strever

96 Rosedale Rd, unit 20:
Features: 90m² retail unit, shared parking
Rent: leased in November for $43,000/year net + gst at $410/m²
Agent: Eddie Zhong

Attribution: Agency release.

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Birdwood & Paritai apartment blocks sell under hammer

A block of 9 apartments (pictured) in a 4-level building on Birdwood Crescent, Parnell, was sold for $6.75 million at Bayleys’ auction last Thursday.

The property has further development potential under the new unitary plan, including basement apartments & 2 extra levels on top.

Another multi-unit property, on Paritai Drive, also topped the $6 million mark at the auction in Bayleys’ Remuera office.

Units in Mairangi Bay & Mt Wellington also sold at Bayleys branch office auctions.

Isthmus east

Meadowbank

21 Houghton St, unit 4:
Features: 2-bedroom end unit, garage
Outcome: passed in, back on market at $699,000
Agents: Dianne Nichol & Steve Gill

Mt Wellington

68 Banks Rd, unit 1:
Features: cross-lease, quarter share in 1219m², 90m² 2-bedroom unit, carport
Outcome: sold for $560,000
Agent: Reinka Ratti

Orakei

146 Paritai Drive:
Features: 4 one-bedroom 1960s apartments and a 2002 4-bedroom family residence with a separate living area, long-term tenants, 12 parking spaces
Income assessment: gross rent about $180,000/year
Outcome: sold for $6.15 million
Agents: Robert Ashton (Bayleys) & Mike Zelcer (Ray White)

Parnell

3 Birdwood Crescent:
Features: 701m² site, floorspace 796m² internal + 66m² of decks, 4-level apartment building constructed in 1968, 9 apartments – 6 of 2 bedrooms, 3 of one bedroom, basement storage & laundry, 13 parking spaces, zoned terrace housing & apartment building under the new unitary plan, allowing for 3 new apartments at basement level and the potential to add 2 floors
Outgoings: rates $15,111/year including gst
Income assessment: current gross rent $199,627/year, assessment $262,860/year gross
Outcome: sold for $6.75 million
Agent: Gary Wallace

North-east

Mairangi Bay

5 Hastings Rd, unit 1:
Features: 2-bedroom unit, work-from-home options
Outcome: sold for $807,500
Agent: Tara Menzies

Attribution: Agency release.

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2 office sales & 4 leases on Shore

Colliers agents on the North Shore have sold 2 office buildings in Mairangi Bay & Rosedale and signed 4 leases, 3 in Mairangi Bay and one in the Wairau Valley.

North-east

Sales

Mairangi Bay

7C Antares Place:
Features: 473m², vacant office
Outcome: sold for $1.7 million
Agents: 
Ryan de Zwart, Janet Marshall & Nick Recordon

Rosedale

27-29 William Pickering Drive, unit E1:
Features: 
98m², vacant office
Outcome: 
sold for $362,500
Agents: 
Mike Ryan & Janet Marshall

Leases

Mairangi Bay

56 Apollo Drive, unit 8:
Features: 
90m², retail
Rent: $47,000/year net + gst
Agents: 
Euan Stratton, Ellie Martin & Nilesh Patel

7C Triton Drive:
Features: 153m² trade retail
Rent: $54,000/year net + gst
Agents:
 Ryan de Zwart & Matt Prentice

14J Vega Place:
Features: 
547m² industrial unit
Rent: $88,000/year net + gst
Agents:
 Ryan de Zwart & Janet Marshall

Wairau Valley

23-25B Porana Rd, unit A:
Features: 
warehouse 1673m², office 177m²
Rent: $240,000/year net + gst
Agents: 
Euan Stratton & Matt Prentice

Attribution: Agency release.

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Parakai site resold, and Lincoln Rd outlet leased again

A Parakai residential development site has been sold and 6 premises on the Shore, at Henderson and in the cbd leased by Bayleys North Shore agents.

The Parakai land, on Fordyce Rd, is part of a large site given subdivision approval last year and sold shortly after.

Among the leases, the retail unit at 151 Lincoln Rd in Henderson (pictured), originally taken up by Oporto, has been leased again. That unit was sold ahead of an auction of the rest of the new development last year. It’s since been passed in at a Colliers auction and listed but withdrawn from auction at Bayleys.

Sales:

North-west

Parakai

56 Fordyce Rd, stage 1:
Features: 5.58ha of residential development land
Outcome: sold for $4 million
Agents: Michael Block & Damian Stephen

Leases:

CBD

Learning Quarter

8 Airedale St, unit 102:
Features: 20m² retail unit,
Rent: leased in October for $24,000/year net + gst, premises rental $1200/m²
Agent: Steven Liu

North-east

Mairangi Bay

15 Orbit Drive:
Features: 2566m² industrial building, 30 parking spaces
Rent: leased in October for $422,000/year net + gst
Agent: Matt Mimmack

4 Orbit Drive, unit G1, suite 1:
Features: 20m² office, parking space
Rent: leased in October for $13,000/year gross, at $650/m²
Agent: Jane Sims

Wairau Valley

8 Ashfield Rd, unit 3:
Features: 122m² industrial unit – warehouse 102m², office 20m², 3 parking spaces
Rent: leased in October for $19,800/year net + gst, at $162.30/m²
Agent: Trevor Duffin

49 Porana Rd, unit 3:
Features: 128m² warehouse, 2 parking spaces
Rent: leased in October for $22,100/year net + gst at $172/m²
Agents: Adam Watton & Adam Curtis

North-west

Henderson

151 Lincoln Rd, unit 4:
Features: 150m² retail unit
Rent: leased in October for $42,000/year net + gst at $280/m²; first leased in 2014 at $55,000/year net + gst
Agents: Steven Liu & Eddie Zhong

Earlier stories:
7 December 2015: Correction: Sales in Parakai, Wellington & Christchurch
14 August 2014: Rival agent sold Lincoln Rd pizza shop before balance of project taken to auction
7 August 2014: 6 retail & business units passed in at Barfoots auction

Attribution: Agency release.

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Updated: 5 Lincoln Rd retail units sell at auction

Auctioneer John Bowring took 105 bids on the first of 5 shops in Aubrey Edward Group Ltd (Tom Tuke & Dean Whimp)’s 301 Lincoln Rd development yesterday before selling it on a 5.1% yield, and took over 70 bids on 2 more of the outlets.

The first of these outlets, a standalone Texas Chicken drive-through at the entrance, took 40 minutes to get to a sale. The eventual outcome at the Colliers auction was 5 sales out of 5 for the Henderson development at yields ranging from a whisker under 5% up to 5.4%.

After that, potential bidders on the remaining 3 properties on the Shore & at Pakuranga chickened out. 2 of these properties received no bid and the third, offered with vacant possession, was also passed in – but was sold 6 days later.

North-east

Forrest Hill

120 Sunnynook Rd, unit 0:
Features: 209m² fruit & vege shop & coolstore, plus Vodafone tower, 15-year lease from May 2011
Rent: $112,162.50/year net + gst
Outcome: no bid
Agents: Jimmy O’Brien, Euan Stratton & Mike Ryan

Mairangi Bay

Updated: 7C Orbit Drive:
Features: vacant 752m² office & warehouse, 9m stud, high stud roller door to warehouse, over 300amp 3-phase power, 12 parking spaces
Outcome: passed in at $1.885 million, sold post-auction to an owner-occupier for that figure
Agents: Matt Prentice & Janet Marshall

North-west

Henderson, 301 Lincoln Rd:

Unit 14, Texas Chicken:
Features: standalone outlet at entrance to new retail & fast-food development, 15-year lease + 2 6-year terms, final expiry 2043
Rent: $165,000/year net + gst
Outcome: sold for $3.236 million at a 5.1% yield
Agents: Shoneet Chand, Matt Prentice & Sean Finnegan

Unit A5, Flame Pizza:
Features: 79.4m², 8-year lease + 2 4-year rights of renewal
Rent: $43,670/year net + gst
Outcome: sold for $837,000 at a 5.2% yield
Agents: Shoneet Chand, Peter Kermode & Craig Smith

Unit A7, Mark Anthony Hair Design:
Features: 75.2m², 6-year lease + 2 3-year rights of renewal
Rent: $39,480/year net + gst
Outcome: sold for $796,000 at a 4.96% yield
Agents: Shoneet Chand, Peter Kermode & Craig Smith

Unit B3, Yu Tea:
Features: 127m², 6-year lease + 2 4-year rights of renewal; the owners intend to open more stores around Auckland
Rent: $60,325/year net + gst
Outcome: sold for $1.126 million at a 5.36% yield
Agents: Shoneet Chand, Peter Kermode & Craig Smith

Unit B5, Mexicali:
Features: 160m², 8-year lease + 2 6-year rights of renewal
Rent: $96,000/year net + gst
Outcome: sold for $1.921 million at a 4.997% yield
Agents: Shoneet Chand, Peter Kermode & Craig Smith

South

Pakuranga

43 Ben Lomond Crescent:
Features: 4375m² site, 2395m² floor area, 6-year lease from August 2015, A grade seismic rating
Rent: $216,864/year net + gst
Outcome: no bid
Agents: Shoneet Chand & Dwayne Warby

Attribution: Auction.

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