Archive | Northcote

3 sales & 7 leases on Shore

Bayleys agents on the Shore have completed 3 sales in Rosedale & Unsworth Heights, and 7 leases spread around Hauraki, Milford, Northcote, Rosedale & Takapuna.

North-east

Sales:

Rosedale

5 Civil Place, unit B:
Features: 232.1m² industrial unit – warehouse 143.6m², first-floor office 47.6m², ground-floor 40m², 4 parking spaces
Rent: $34,000 + gst
Outcome: sold in March for $726,000 + gst at a 5.68% yield, $3128/m² (including parking)
Agents: Matt Mimmack & Laurie Burt

27-29 William Pickering Drive, unit F4:
Features: 210m² office, 6 parking spaces
Outcome: sold in March for $760,000 + gst, $3619/m² (including parking)
Agents: Alex Strever & Ildy Meixner

Unsworth Heights

145 Unsworth Drive, unit 7:
Features: 186m² retail, 5 parking spaces
Outcome: sold in March for $520,000 + gst at $2796/m² (including parking)
Agents: Dean Gilbert-Smith & Adam Curtis

Leases:

Hauraki

347-349 Lake Rd, shop 2:
Features: 55m² retail
Rent: leased in March for $17,000/year net + gst, premises rental $309/m²
Agents: David Huang & Adam Curtis

Milford

56 Apollo Drive, unit 3A:
Features: 67.4m² retail,
Rent: leased in March for $34,000/year net + gst, premises rental $504/m²
Agent: Terry Kim

177A Shakespeare Rd, upper floor:
Features: 68m² office, 3 parking spaces
Rent: leased in March for $24,000/year net + gst, premises rental $353/m² (parking free)
Agent: Terry Kim

Northcote

Northmed, 3 Akoranga Drive, tenancy 3:
Features: 280m² retail, 2 parking spaces
Rent: leased in March for $160,520/year net + gst, parking $25/space/week, premises rental $564/m²
Agent: Jane Sims

Rosedale

34 Triton Drive, unit C4:
Features: 230m² office, 7 parking spaces
Rent: leased in March for $59,000/year net + gst, parking $20/space/week, net excluding parking $51,760/year, premises rental $225/m²
Agent: Alex Strever

36 William Pickering Drive, unit 4:
Features: 175m² industrial unit, 7 parking spaces
Rent: leased in March for $32,000 – 58m² office at $221/m², 67m² warehouse $120/m², 50m² showroom $221/m²
Agents: Ryan Dannhauser & Trevor Duffin

Takapuna

475 Lake Rd, level 1:
Features: 110m² office, 2 parking spaces
Rent: leased in March for $27,320/year net + gst, parking $30/space/week, $24,200 excluding parking, premises rental $220/m²
Agents: Dean Gilbert-Smith, Adam Curtis, David Huang, Michael Nees & Simon Aldridge

Attribution: Agency release.

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8 commercial leases on Shore

Bayleys agents on the Shore have concluded 4 commercial leases in the Rosedale area & 4 in Albany, Milford, Northcote & the Wairau Valley.

Leases:

North-east

Albany

5-7 Henry Rose Place, unit 5:
Features: 470m² unit – warehouse 345m², office 125m², 7 parking spaces
Rent: leased in February for $75,000/year net + gst, premises rental $160/m² (no extra for parking)
Agent: Laurie Burt

Milford

164 Kitchener Rd, unit 3:
Features: 155m² retail unit, parking space
Rent: leased in February for $48,300/year net + gst, parking $25/space/week, premises rental $403/m²
Agents: Ildy Meixner, Alex Strever & Steven Liu

Northcote

Downstairs of 67 Onewa Rd:
Features: 212m² industrial space – showroom 116m², other area 96m², 5 parking spaces
Rent: leased in February for $28,000/year net + gst, premises rental $132/m² (no extra for parking)
Agents: Steven Liu & Damian Stephen

Rosedale

112 Bush Rd, unit L:
Features: 186m² office, 7 parking spaces
Rent: leased in February for $53,000/year net + gst, parking $20/space/week, net excluding parking $45,720/year, premises rental $245/m²
Agent: Alex Strever

10 Canaveral Drive, unit 3:
Features: 344m² industrial unit – office 50m², warehouse 244m², showroom 50m², 6 parking spaces
Rent: leased in February for $58,000/year net + gst, parking $20/space/week, premises rental $168.60/m²
Agent: Matt Mimmack

Part of 1-3 Parkhead Place:
Features: 873m² unit – 713m² warehouse, 160m² office, 12 parking spaces
Rent: leased in February for $112,000/year net + gst, premises rental $128.29/m² (no extra for parking)
Agent: Laurie Burt

23 William Pickering Drive, part of unit E:
Features: 193m² office, 10 parking spaces
Rent: leased in February for $45,200/year net + gst, parking $15/space/week, premises rental $234/m²
Agent: Alex Strever

Wairau Valley

Corrected: 21 Poland Rd, unit 13:
Features: 321m² industrial unit (and the breakdown now equals the total) – office 55m², warehouse 220m², showroom 46m², 6 parking spaces
Rent: leased in February for $44,300/year net + gst, premises rental set at office $180/m², warehouse $120/m², showroom $170/m²
Agent: Trevor Duffin

Attribution: Agency release.

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Bayleys Shore agents finish year with 4 sales & 6 leases

Bayleys agents on the North Shore finished 2016 with 4 sales outside the auctionroom, 2 of them in Freemans Bay & East Tamaki, and 6 leases on the Shore.

The sales included 2 adjoining properties across the street from the New World supermarket in Freemans Bay (pictured), used for their office space but sold for their land at $6490/m².

Sales:

Isthmus west

Freemans Bay

3 Scotland St & 44 Ireland St:
Features: 490m² in 2 titles zoned mixed use, 2 office buildings totalling 281.7m², 7 parking spaces
Rent: $63,669/year net
Outcome: sold through a tender in December for $3.18 million + gst at a 2% yield, land price $6490/m²
Agents: Paul Prouse, Ranjan Unka & Stephen Scott

North-east

Northcote

218-224 Lake Rd:
Features: 2494m² site, 896m² office building zoned mixed housing, 32 parking spaces
Outcome: sold in November for $4.45 million + gst at $1784.28/m² land & building
Agents: Tonia Robertson & Chris White

Rosedale

6-8 Omega St, unit 5:
Features: 165m² office unit, 3 parking spaces + 2 shared
Outcome: sold for $540,000 + gst, at $3272/m² land & building
Agents: Ildy Meixner & Alex Strever (Bayleys), Brian Paulin (Barfoot & Thompson)

South

East Tamaki

26 Ross Reid Place:
Features: 7218m² industrial site, 4722m² building
Rent: $616,008.71/year net
Outcome: sold in December for $10 million + gst at a 6.16% yield
Agents: Laurie Burt, Michael Nees, Simon Aldridge & David Huang

Leases:

North-east

Albany

221-223 Dairy Flat Highway, shop 2:
Features: 88m² shop, 3 parking spaces
Rent: leased in December for $26,000/year net + gst at $295.50/m² (assuming parking free)
Agents: Steven Liu & Ildy Meixner

Milford

6-8 Milford Rd, level 1:
Features: 20m² office, no parking
Rent: leased in December for $7500/year net + gst, premises rental $375/m²
Agent: David Huang

Rosedale

9 Beatrice Tinsley Crescent, part unit F:
Features: 278m² warehouse, no parking
Rent: leased in December for $32,000/year net + gst, premises rental $115/m²
Agent: Laurie Burt

61 Constellation Drive, part building 3, level 2:
Features: 292m² office, 9 parking spaces
Rent: leased in December for $109,778.40/year net + gst, $93,398 excluding parking, parking at $35/space/week, premises rental $320/m²
Agents: Ryan Dannhauser, Alex Strever, Jane Sims & Paul Prouse

7 Vega Place, unit F:
Features: 155m² unit – warehouse 57.6m², showroom 20m², low-stud area 17m², office 20m² (40m² unspecified), 3 parking spaces
Rent: leased in December for $23,000/year net + gst at $148/m² (assuming parking free)
Agent: Laurie Burt

36 William Pickering Drive, unit 7:
Features: 305.5m² floor & yard – office 102m², warehouse 137.5m², yard 66m², 5 parking spaces
Rent: leased in December for $40,000/year net + gst at $130.90/m² (assuming parking free)
Agents: Laurie Burt & Trevor Duffin

Attribution: Agency release.

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Sale & 8 leases on Shore

Bayleys agents on the North Shore have concluded one sale outside the auctionroom and signed up 8 new tenants in their latest transactions report. I’ve omitted some of the premises rental figures which seemed to include parking at zero.

North-east

Sales:

Albany

6-8 Omega St, unit 7 & 9:
Features: 449m² office unit
Rent: $110,000/year net, new 3-year lease
Outcome: sold in December for $1.56 million + gst at a 7.05% yield
Agents: Alex Strever. Dean Gilbert-Smith, Michael Nees, Simon Aldridge, David Huang & Matt Mimmack

Leases:

Albany

12 Oteha Valley Rd extension:
Features: 274m² retail,
Rent: leased in November for $62,500/year net + gst, premises rental $228/m²
Agents: Adam Curtis, Adam Watton & Eddie Zhong

Forrest Hill

97 Sunnynook Rd:
Features: 100m² office, 8 parking spaces
Rent: leased in November for $36,000/year net + gst
Agent: Terry Kim

Northcote

48 Lake Rd, unit C:
Features: 158m² retail, 2 parking spaces
Rent: leased in October for $33,000/year net + gst
Agents: Steven Liu & Damian Stephen

Rosedale

8 Triton Drive, unit A:
Features: 346m² – office 136m², warehouse 212m², 5 parking spaces
Rent: leased in December for $57,000/year net + gst
Agents: Laurie Burt

Silverdale

1 Keith Hay Court, unit 4:
Features: 121.18m² warehouse, 3 parking spaces
Rent: leased in October for $21,813/year net + gst
Agent: Rosemary Wakeman

Takapuna

495 Lake Rd, tenancy B:
Features: 220m² office
Rent: leased in October for $44,000/year net + gst, premises rental $200/m²
Agents: Jane Sims

1-7 The Strand, level 4:
Features: 694m² office, 15 parking spaces
Rent: leased in December for $274,960, parking $50/space/week, rent net of parking $235,960/year, gross premises rental $340/m²
Agents: Dean Gilbert-Smith, Tonia Robertson & Chris White

Wairau Valley

54 View Rd, unit 10:
Features: 142m² unit – office 71m², showroom 71m², 2 parking spaces
Rent: leased in December for $35,000/year net + gst
Agents: Ashton Geissler & Matt Mimmack

Attribution: Agency release.

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5 sell at Colliers retail & commercial auction

The first 5 properties auctioned at Colliers yesterday all sold under the hammer, but there was no bid on the sixth and the auction of the seventh was postponed.

3 of the properties were in local or neighbourhood centres, offering a range of shops (some vacant). The one pictured, on Glengarry Rd, Glen Eden in West Auckland, has 5 shops, but 4 of the basement storage units are vacant.

CBD

Queen St

175 Queen St, part level 2:
Features: 82m² strata unit, long-term tenant
Rent: $42,808/year gross
Outcome: auction postponed
Agents: Simon Felton, Adam White & Gareth Fraser

North-east

Hillcrest

51 Eban Avenue:
Features: 900m² site, new purpose-built childcare centre
Rent: $165,880/year net, new 12-year lease with personal guarantees, fixed 2% annual increases
Outcome: sold for $3.01 million at a 5.5% yield
Agents: Shoneet Chand & Peter Kermode

North-west

Glendene

4343 Great North Rd:
Features: 344m² lettable area in local centre, 2 tenancies, pharmacy as anchor
Rent: $87,880/year net + gst
Outcome: no bid
Agents: Deborah Dowling & Michael Bray

Glen Eden

94-106 Glengarry Rd (pictured):
Features: 1027m² neighbourhood centre site, 950m² lettable area on 2 levels, 5 shops, 4 basement storage units
Rent: $125,803/year net + gst, potential including 4 vacant storage sheds $174,451/year
Outcome: sold for $2.18 million
Agents: Michael Bray, Deborah Dowling & Gareth Fraser

South

Airport Oaks

14 Andrew Baxter Drive:
Features: 2023m² site, 1182m² net lettable area, occupied by NZ Bloom Ltd
Rent: $160,000/year net + gst from new 6-year lease
Outcome: sold for $3.135 million at a 5.1% yield
Agents: Paul Jarvie & Brad Johnston

Papatoetoe

21 East Tamaki Rd:
Features: 700m² site, 516m² lettable area on 2 levels 
Rent: $120,300/year + gst
Outcome: sold for $1.61 million at a 7.47% yield
Agents: Jeremy Barnett, Matthew Barnes & Gareth Fraser

138 Great South Rd:
Features: 848m² corner site 621m² lettable area
Rent: $53,462/year + gst current from 2 shops, one other vacant
Outcome: sold for $1.65 million
Agents: Jeremy Barnett, Matt Barnes & Gareth Fraser

Attribution: Auction.

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Unitary plan helps lift Northcote housing target to 1200

When Northcote was listed as a special housing strategic area 2 years ago, it was to be the site for 700 new homes. When government ministers visited Northcote on Friday, they said the target had risen to 1200 in a $750 million project.

Central Northcote, an area dominated by state housing, was named in May 2014 in the third tranche of special housing areas under the accord between the Government & Auckland Council.

Housing NZ subsidiary the Hobsonville Land Co Ltd began the $30 million stage 1 of construction last week, replacing 20 old Housing NZ homes with 59 new social housing homes.

The 200-home second stage of the 5-year project will begin next year, when 38 Housing NZ homes make way for 60 new social housing units & about 140 new homes for market supply, with an emphasis on affordability.

The first homes will be completed in June 2017 and the entire redevelopment is expected to be completed by 2021.

All up, the Government will redevelop 300 existing Housing NZ properties into about 1200 new homes.

Bill English, Minister Responsible for Housing NZ, said the redevelopment would provide a better mix of size & type. The number of Housing NZ homes will increase from 300 to 400 and 600-800 properties will be sold as a mix of affordable & market housing. It will also be integrated with work to revitalise the Northcote town centre, which is starting with a framework plan developed by council entity Panuku Development Auckland.

Building & Housing Minister Nick Smith said the Northcote redevelopment illustrated the importance of Auckland’s new unitary plan, which will allow for a significant increase in the number of houses that can be built on Government-owned land: “The old plans only enabled Housing NZ to increase its housing stock from about 28,000 to 31,000. The new plan enables about 60,000 homes on the equivalent land area Auckland-wide. Today’s announcement is the first of a number of largescale Housing NZ projects which will now be possible under the new rules.”

20 1950s & 1960s houses will be removed or demolished in stage 1 at Northcote, and some removed houses will go to Spring Hill prison to be refurbished as part of building training programmes. New social housing will be a mix of houses, from 1-4 bedrooms.

Hobsonville Land will introduce its Axis series of more affordable construction in stage 2, and the range of housing types will also be more mixed, from terraces & apartments to standalone houses.

Future stages will contain 287 more social homes and a further 450-650 new homes for the market.

Links: Northcote strategic area map
Axis series

Earlier stories:
16 May 2016: Council & Government join forces to redevelop Northcote land
9 May 2014: Third tranche of special housing areas unveiled
8 May 2014: Accord tranche 3 adds 41 special housing areas

Attribution: Government & Hobsonville Land releases.

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Commercial sale on Shore

Bayleys North Shore has sold a Northcote commercial building with an upstairs apartment. This report also carried information about 2 other sales on Arrenway Drive this morning – neither of them new and they‘ve been removed. One was 15 months ago.

North-east

Northcote

8 Lake Rd:
Features: 1014m2 site, 780m2 mixed-use building with 5 tenants – 4 ground-floor commercial tenants plus a 2-bedroom apartment upstairs
Outcome: sold for $1.685 million at a 5.6% yield
Agent: Stephen Scott

Attribution: Agency release.

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Council & Government join forces to redevelop Northcote land

Council & Government agencies will combine forces to continue redevelopment of housing in Northcote.

Housing NZ’s acting chief executive, Greg Groufsky, said on Friday the Hobsonville Land Co Ltd, its subsidiary in charge of the Hobsonville Point development at the top of the Waitemata Harbour, would also lead development in a special housing area at Northcote, on the North Shore.

Redevelopment at Northcote started in 2010 with new homes in Tonar St South, but couldn’t continue into Tonar St North until infrastructure capacity was resolved.

Hobsonville Lane chief executive Chris Aiken said Housing NZ & the subsidiary would work in partnership on an urban redevelopment plan for Northcote, and the immediate focus would be on building new & additional social housing. Stage 1 will comprise 56 homes in a mix of 1-4 bedrooms, on land occupied by 19 houses built in the 1950-60s.

Council agency Panuku Development Auckland owns the nearby town centre, has identified Northcote as one of its priority development locations and has begun design work to redevelop the town centre. Strategy & engagement director David Rankin said Panuku would work with Hobsonville Land to better connect the town centre with local homes, and create a variety of housing opportunities to renew the whole area.

“Northcote has been given ‘town centre’ status under the proposed Auckland unitary plan, which means we can now deliver on much of what has been planned in the past. We want to see housing & commercial developments that strengthen the community and reinforce the local character.”

Mr Aiken said Hobsonville Land was progressing plans for the first few sites and would like work to start by the end of the year. More detailed plans were being finalised and would be shared with the community as soon as they were available.

“Our immediate focus will be to build new & additional social housing. Over the longer term there is an urgent need in the area for additional good quality housing with a broader mix of home types.”

Attribution: Housing NZ & Panuku release.

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2 Parnell apartments sell

2 upmarket Parnell apartments, including one in the White Heron (pictured), and a unit at Northcote Point were sold under the hammer at Bayleys residential auctions in Remuera & Takapuna last week.

Isthmus east

Ellerslie

12C Arron St:
Features: cedar standalone townhouse, 4 bedrooms, study, 2 bathrooms, storage, 2 parking spaces
Outcome: passed in
Agent: Kim Hampson

Parnell

5C Churton St:
Features: cross-lease, one-third share in 673m², floor area 175m², 3 bedrooms, 3 bathrooms, wine cellar, storage, double garage, internal terrace
Outgoings: rates $4179/year including gst
Outcome: sold for $1.9 million
Agents: Vicki Wallace & Amanda Platt

White Heron, 150 St Stephens Avenue, unit 2C (pictured):
Features: 2 bedrooms, study, 2 bathrooms, 2 parking spaces, garden apartment
Outcome: sold for $3.278 million
Agent: Fleur Denning

North-east

Northcote Point

170G Queen St:
Features: 1970s ground-level unit, m², 2 bedrooms, single garage + dedicated offstreet parking, storage
Outcome: sold for $525,000
Agent: Craig Bishop

Attribution: Agency release.

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Takapuna & Northcote first up for revitalisation

Auckland Council’s urban development arm, Panuku Development Auckland, will take proposals to a council committee tomorrow to start the process of revitalising 2 areas on the North Shore, Takapuna & Northcote, which were listed in its “unlock” category of transformation sites in December.

They’re among 9 locations around the region that Panuku chose last year as the first batch to be submitted to a comprehensive upgrade.

Panuku has asked the council’s Auckland development committee to give it the mandate to facilitate redevelopment of selected council sites in central Takapuna that have been identified as opportunities to unlock strategic, community & commercial value through urban renewal.

For Northcote, Panuku says it’s been identified in the Auckland Plan as a town centre which requires renewal: “The immediate project area has an old town centre at its heart with established community facilities and a neighbourhood retail centre, including a supermarket, surrounded generally by low density residential, 2 schools and a high concentration of Housing NZ social housing.

“The current urban fabric is largely in a poor condition, mainly attributed to the ground-lease structure of the centre, some reluctance to freehold the council’s leasehold interests to facilitate private investment,and a less than optimum approach to centre & place management.

“Changing circumstances will enable Panuku to leverage & materialise previous planning efforts in Northcote by capitalising on a number of current & evolving opportunities, albeit over a period of time and subject to unlocking the complexities of the fragmented tenure & ground-lease situation.”

Link: Council committee agenda

Earlier story:
6 December 2015: How Panuku proposes to lead transformation of Auckland

Attribution: Council committee agenda.

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