Archive | Silverdale

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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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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Shore agents sign 9 commercial leases

Bayleys agents on the North Shore have signed 9 commercial & retail leases, 4 of them in Rosedale, 2 in Northcote and one each in Silverdale, the Wairau Valley and across the harbour bridge in Three Kings.

Leases

Isthmus west

Three Kings

528 Mt Albert Rd, unit F:
Features: 125m² office
Rent: leased in April for $24,585/year net + gst, premises rental $196.68/m²
Agents: IIdiko Meixner, Steven Liu, Eddie Zhong & Ed Donald

North-east

Northcote

3 Akoranga Drive, tenancy 10:
Features: 91.56m² retail unit, no parking
Rent: leased in March for $48,280/year net + gst – premises $45,780/year, premises rental $500/m², signage rental $2500/year
Agents: Jane Sims & John Algie

Northcote Shopping Centre, 7-9 Pearn Crescent:
Features: 170m² shop, 3 parking spaces
Rent: leased in April for $115,000/year net + gst, premises rental $676.47/m² (parking free)
Agents: James Yu & Terry Kim

Rosedale

31 Apollo Drive, unit E:
Features: 95m² office, 3 parking spaces
Rent: leased in April for $26,900/year net + gst, parking $25/space/week, net premises rental $23,000/year, $242.11/m²
Agent: Ryan Dannhauser

33 Apollo Drive unit 8:
Features: 234m² office unit, 7 parking spaces
Rent: leased in April for $64,000, parking $20/space/week, net premises rental $56,720. $242.39/m²
Agent: Alex Strever

63-65 Paul Matthews Rd, unit L:
Features: 71.5m² office, shared parking space
Rent: leased in January for $16,000/year net + gst, premises rental $223.78/m²
Agents: Steven Liu, Paul Prouse & Jane Sims

Rosedale Retail Centre, 94 Rosedale Rd, unit 11:
Features: 121m² shop, shared parking
Rent: leased in April for $60,000/year net + gst, premises rental $495.87/m²
Agents: Steven Liu & Eddie Zhong

Silverdale

6 & 6A Tavern Rd:
Features: 406m² industrial unit – warehouse 390m², office 16m²
Rent: leased in April for $70,000/year net + gst, premises rental $172.41/m²
Agent: Rosemary Wakeman

Wairau Valley

32-34 Poland Rd, unit C:
Features: 524.8m² industrial unit – warehouse 267.3m², office 257.5m², 8 parking spaces
Rent: leased in March for $95,000/year net + gst, premises rental $181.02/m² (parking free)
Agents: Trevor Duffin & Matt Mimmack

Attribution: Agency release.

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$485/m² for Highgate Parkway site

An industrial site in Highgate Parkway (marked in blue), near the Wainui motorway ramp to Millwater at Silverdale, has been sold for $485/m². Colliers has also sold a quake-damaged Christchurch building on an “as is, where is” basis.

North-east

Silverdale

Lot 7, Highgate Parkway:
Features: 7095m² vacant industrial site
Outcome: sold for $3,443,075
Agents: Jimmy O’Brien & Ryan De Zwart

South Island – Canterbury

Riccarton

116-118 Riccarton Rd:
Features: 1770m² 4-storey retail/office building, damaged in 2011 earthquake and not occupied since, offered on “as is, where is” basis and sold by the Crown-owned Southern Response
Outcome: sold at auction for $3 million
Agents: Mark Macauley & Will Franks

Attribution: Agency release, Google image.

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Silverdale bus station completion a year away

Earthworks are underway for the redesigned Silverdale bus station on Hibiscus Coast Highway, just along from the Northern Motorway ramps, but the station building will only be erected next year and an extra 127 parking spaces still have to be consented.

The existing bus station lost temporary parking recently because it was on a neighbouring development site, and work started on the development. However, the Hibiscus & Bays Local Board has made temporary parking available at the site of the former Nippon Judo Club, on Hibiscus Coast Highway, just past the Silverdale War Memorial Park.

Auckland Transport said it would maintain 200 spaces in the existing commuter parking area – but ban parking on verges to facilitate construction work – until the main new parking lot is complete, scheduled for February 2018. 484 new parking spaces have been consented so far.

The new parking will be on a levelled site, and the bus station will be built next to the Hibiscus Coast Highway. It will have ticket & top-up machines, toilets, secure cycle parking and waiting areas that will be well lit & protected from the elements.

The whole project is scheduled for completion in May 2018.

Auckland Transport has asked commuters to use connecting bus services in the meantime.

Attribution: Auckland Transport release.

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3 Christchurch commercial sales and a Silverdale lease

Colliers has sold 3 quite different Christchurch properties at auction – a completed townhouse development, a former hospital converted to student accommodation and an industrial building sold “as is where is”.

In Auckland, agents have signed a lease on a new retail unit in Silverdale.

South Island – Canterbury

Christchurch central

MLC Apartments, 235 Salisbury St, units 1-16:
Features: 2710m² fully tenanted residential investment – 16 townhouses of 1-3 bedrooms, built post-quakes, each with single garage
Outcome: sold at auction for $3.085 million, at a 7.8% yield
Agents: Hamish Doig & Courtney Doig

Riccarton

7-15 Kirkwood Avenue:
Features: 5900m² site, 2630m² former St Nicholas Hospital building, 68% of new building standard – a newly converted hall for 74 first-year students & 2 detached staff units, leased to Canterbury University for 12-year term
Rent: $320,000/year net
Outcome: sold at auction for $6.025 million, at a 5.3% yield
Agent: Courtney Doig

Waltham

11 Lismore St:
Features: 1005m² industrial site, 770m² building offered on “as is where is” basis, 5 parking spaces
Outcome: sold at auction for $460,000
Agents: Christian Kellar & Ollie Salt

North-east

Silverdale

2 Milner Avenue, unit 6F:
Features: 71m² retail unit leased to Xplosiv Supplements Ltd
Agents: Ellie Martin, Euan Stratton & Ryan de Zwart

Attribution: Agency release.

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Sale & 6 leases for Shore agents

Bayleys agents have completed one sale Rosedale sale and 6 leases on the North Shore and at Silverdale.

North-east

Sales:

Rosedale

39 Apollo Drive, unit 14:
Features: 143m² office, tenant Standard Group Ltd, 4 parking spaces
Rent: $37,500/year net + gst
Outcome: sold in February for $550,000 + gst at a 6.8% yield, $3846/m²
Agents: Ryan Dannhauser & Simon Aldridge

Leases:

Albany

6 Tawa Drive:
Features: 556m² industrial property – showroom 229m², office 327m², 16 parking spaces
Rent: leased in March for $135,000/year net + gst, premises rental $242.81/m² (parking free)
Agents: Matt Mimmack & David Han

Rosedale

9-11 Rothwell Avenue, unit F:
Features: 352m² industrial unit – warehouse 236m², office 54m², showroom 43m², other area 19m², 6 parking spaces
Rent: leased in March for $53,000, premises rental $151/m² (parking free)
Agent: Laurie Burt

9 Vega Place, unit C:
Features: 444m² industrial unit – warehouse 222m², office 204m², 9 parking spaces
Rent: leased in March for $75,000/year net + gst, premises rental $169/m² (parking free)
Agents: Laurie Burt & Stephen Scott

Silverdale

11 David McCathie Place:
Features: 601m² industrial unit – warehouse 507m², office 94m², 7 parking spaces
Rent: $85,000/year net + gst, premises rental $141.43/m² (parking free)
Agents Rosemary Wakeman

14-16 Flexman Place, unit E:
Features: 239m² industrial unit – warehouse 220m², office 19m², 5 parking spaces
Rent: leased in April for $32,500, premises rental $135.98/m² (parking free)
Agents: Rosemary Wakeman

Wairau Valley

145 Target Rd, unit 5A:
Features: 120m² office, 3 parking spaces
Rent: leased in March for $16,000/year net + gst, premises rental $133.33/m² (parking free)
Agents: Trevor Duffin & Adam Watton

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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Caltex site on Fanshawe St sells

A Fanshawe St site which Z Energy Ltd said was too valuable to be a petrol station has, indeed, been sold for over 4 times its valuation as a Caltex service station.

The site was among 10 former Caltex outlets with retailers installed on short-term contracts when Z Energy took over Chevron NZ Ltd’s Caltex & Challenge brands, and is the first of the 10 to have its future decided.

Z Energy got a valuation of $5 million on it as a service station and has sold it through a Colliers tender for $23.274 million.

The pumps, across the road from Victoria Park on the edge of the Wynyard Quarter, closed at the start of August. New office developments are rising on 2 sides of it.

Sales

CBD

Wynyard Quarter

155-167 Fanshawe St:
Features: 3879m², former Caltex service station site
Outcome: sold for $23.274 million
Agents: Colliers capital markets team

Leases:

CBD

Queen St

260 Queen St:
Features: 90m², commercial premises, leased to Love My Makeup Ltd by McDonalds Restaurants Ltd
Rent: $235,000/year gross + gst
Agent: Nilesh Patel

Isthmus east

Mt Wellington

5 Tiri Place:
Features: 1160m² industrial property, lessor Tiri Partnership Ltd, lessee SKU Ltd, lease term including renewals 6 months
Rent: $52,200
Agents: Ben Herlihy, Dwayne Warby & Todd Kuzmich

North-east

Albany

6 Tawa Drive:
Features: 2095m² industrial premises leased to Auckland City Couriers Ltd – warehouse 1133.7m², mezzanine 550m², office 412m², hardstand container loading area
Rent: $232,000/year
Agents: Ryan de Zwart, Matt Prentice & Hamish West

Silverdale

18A & B David McCathie Place:
Features: 2199m² office & warehouse, leased to Masons Plastabricks Ltd
Rent: $222,500/year
Agents: Ryan de Zwart, Matt Prentice & Shoneet Chand

South

East Tamaki

331B East Tamaki Rd:
Features: 840m² industrial property, lessor GLT Properties Ltd, lessee Nexus Foams Ltd, lease term 3 years, 3 3-year rights of renewal
Rent: $13,333.33 net
Agents: Jolyon Thomson, Hamish West & Paul Higgins

Earlier story:
31 August 2016: Fanshawe St site ‘too valuable for a petrol station’

Attribution: Agency release.

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