Archive | Takapuna

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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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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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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Flats, townhouse & apartment sell

3 of the 4 intensive homes auctioned at Bayleys this week were sold under the hammer – a Takapuna development site currently in 2 flats (outlined), a Scotia Place apartment with remedial work set to start, and a Mt Albert townhouse.

A Hopetoun Residences apartment was passed in and the auction of an Avondale property was postponed.

CBD

Uptown

Hopetoun Residences, 15 Hopetoun St, unit 402:
Features: 2-bedroom corner apartment, 2.7m ceilings, 2 bathrooms, covered balcony, 2 parking spaces
Outcome: passed in, back on market at $1.395 million
Agents: Trent Quinton & Julie Prince

Scotia Tower, 8 Scotia Place, unit 7C:
Features: one bedroom, parking space, remedial work set to start in 2018
Outcome: sold for $156,000
Agent: Marcus Fava

Isthmus west

Avondale

1843 Great North Rd:
Features: 2309m² site, 250m² floor area – café & villa; height limit under unitary plan 32.5m in business town centre zone 
Outcome: auction postponed
Agents: Laurie Bell & Kate Kirby

Mt Albert

8 Soljak Place, unit 36:
Features: 84m², 2-level terraced townhouse, 2 bedrooms, courtyard, balcony, 2 parking spaces, gated entrance
Outcome: sold for $575,000
Agents: Gay Kelly & Peter Cashmore

North-east

Takapuna

8 The Terrace:
Features: 2 flats, one of 3 bedrooms with double garage, the other of 2 bedrooms, conservatory, parking space, listed as a development site with holding income
Outcome: sold for $2.508 million
Agents: Allan Boot

Attribution: Agency release.

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Updated: 2 post-auction sales; strong yields for some, no bid on others as 6 sell at Bayleys’ commercial auction

Published 3 August 2017, updated twice on 9 August 2017
Sale of a small character building at the foot of College Hill at Bayleys’ Total Property commercial auction last Wednesday showed the right property could still sell at a yield under 5%.

That was confirmed by the post-auction sale of a Hurstmere Rd property in Takapuna, at a yield just below 4%. Also sold post-auction was a 2-storey building in East Tamaki occupied by a bar & gaming lounge, sold on a 6.5% yield.

Mind you, sub-5%, or even below 4%, isn’t quite a match for the sub-3% yields 2 old converted houses at the top of College Hill went for at auction in June.

Still, there was a buzz in the auctionroom which has been missing from most auctions in recent months, as auctioneers have tried to squeeze an offer from a smattering of mostly reluctant bidders.

6 properties were sold under the hammer at yesterday’s commercial auction. 4 attracted no bid out of the 7 passed in. Another 2 properties on the list had their auctions postponed and one was withdrawn completely.

Finance has become a central issue in all forms of property transaction, and agents told me of numerous new barriers in the way of a sale, such as insistence on tighter lease terms where those terms had previously not even been raised.

Scores of properties have been passed in without attracting a bid at auctions around Auckland this year, but the absence of a bid on the ANZ premises in the Lincoln North shopping centre in Henderson yesterday was in stark contrast to the frenzy of bidding that occurred when developer Frank Reynolds sold the centre down in 2009.

That was about 18 months into the global financial crisis, a time when caution abounded, but it was also a time when there were plenty of Chinese buyers keen on small retail & fast-food premises and willing to bid strongly. With a new 9-year lease in place, the ANZ premises sold in 2009 for $3.03 million at a 5.47% yield. On that day, all 22 units in the centre sold under the hammer.

CBD

Victoria Quarter

20 Centre St:
Features: 260m² – 83m² café, 177m² office & showroom,
Rent: $100,000/year net + gst
Outcome: no bid
Agents: Oscar Kuang, Ben Wallace & James Chan

Isthmus east

Otahuhu

21 Hall Avenue:
Features: 397m² site zoned business town centre, vacant 269m² building previously occupied by a bank, 5 rear parking spaces  
Outcome: sold for $1.23 million
Agents: Piyush Kumar Peter Migounoff, Tony Chaudhary & Janak Darji

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: auction postponed
Agents: Millie Liang

Isthmus west

Avondale

1843 Great North Rd:
Features: 2309m² site zoned multi-use commercial with 32.5m height limit, café & villa with 250m² floor area
Rent: $42,898/year net + gst
Outcome: auction postponed
Agents: Laurie Bell & Kate Kirby

Freemans Bay

3 College Hill:
Features: 276m² site, fully leased 592.5m² 3-level character building, retailer Boardertown occupies basement & ground floor, office tenant above, on leases running to 2023 & 2024 plus signage lease
Outcome: sold for $3.075 million at a 4.92% yield
Agents: Cameron Melhuish, Andrew Wallace & Genevieve Thompson-Ford

North-east

Rosedale

100 Bush Rd, units C & D:
Features: unit C 245m², Unit D 167m², corner office building, new 6-year lease from 1 June, 15 parking spaces
Rent: $118,575/year net + gst
Outcome: withdrawn from auction
Agents: Laurie Burt & Dean Gilbert-Smith

1 Cebel Place, unit B:
Features: 668m² warehouse, showroom & office unit, 15 parking spaces, Wesfarmers subsidiary NZ Safety Blackwoods renewed its lease for 4 years in June, with one further 4-year right of renewal
Rent: $134,000/year net + gst + opex
Outcome: sold for $2.38 million at a 5.63% yield
Agents: Laurie Burt, Matt Mimmack, Tony Chaudhary & Amy Weng

8 Piermark Drive, unit D:
Features: 401m² industrial unit in modern unit-title development with drive-round access, 265m² of high stud warehousing, 2 levels of showroom & office space, 7 parking spaces
Outcome: sold vacant for $1.3 million
Agents: Laurie Burt & Matt Mimmack

Takapuna

Updated: 178 Hurstmere Rd:
Features: 567m² site, 995m² building with dual frontage to Hurstmere Rd & Killarney St, 2 ground-floor shops, first-floor restaurant & hairdressing salon
Rent: $269,117.76/year net + gst + opex current from 4 tenancies after a lease on vacant space was concluded, (originally I used the rental figure used at the start of the campaign, $159,118, plus potential for further $120,000/year)
Outcome: passed in at $6.5 million, sold post-auction for $6.8 million at a 3.96% yield
Agents: Brian Caldwell, Ashton Geissler & Damian Stephen

Wairau Valley

7 Porana Rd, unit C:
Features: vacant 245m² industrial unit, 5 parking spaces        
Outcome: no bid
Agents: Ashton Geissler & Matt Mimmack

135 Sunnybrae Rd:
Features: 1257m² roadfront site, 683m² partly earthquake-prone warehouse & workshop building, longstanding upholstery tenant recently exercised final 2-year right of renewal, smaller rear tenancy on short lease       
Outcome: sold for $1.625 million at a 5% yield to a car sales business
Agents: Ashton Geissler & James Kidd

North-west

Henderson

The Lincoln North shopping centre.

Lincoln North shopping centre, 192 Lincoln Rd, unit 4A:
Features: 503m², ANZ Bank branch on 6-year lease from December 2015, 3 3-year rights of renewal
Rent: $167,550/year net + gst
Outcome: no bid
Agents: Oscar Kuang & James Chan

Westgate

7 Maki St, unit 3:
Features: retail unit, NZ Post as tenant
Rent: $112,513/year net + gst
Outcome: no bid, back on the market at $1.725 million + gst
Agents: Andrew Wallace, Cameron Melhuish & Genevieve Thompson-Ford

South

East Tamaki

Botany South, 8 Bishop Lenihan Place, unit H:
Features: 158m², vacant retail unit in 19-unit complex, 7 allocated parking spaces
Outcome: sold for $580,000
Agents: Terry Kim, Tony Chaudhary & Steven Liu

Updated: 272 Ti Rakau Drive, unit B:
Features: 443m² 2-storey building, 9 parking spaces, bar & gaming lounge on 10-year lease starting in March
Rent: $118,000/year net + gst + opex
Outcome: passed in at $1.6 million, sold post-auction for $1.825 million at a 6.5% yield
Agents: Tony Chaudhary, Janak Darji & Amy Weng

Takanini

88-94 Great South Rd, unit F:
Features: 1191m² floor area, 6 tenancies fully leased
Rent: $242,000/year net + gst     
Outcome: passed in at $3.5 million
Agents: Piyush Kumar & Peter Migounoff

Earlier stories:
13 June 2017: Sub-3% yields on College Hill, and Queen St office sells
8 July 2009: 22 out of 22 shops go at auction

Attribution: Auction.

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6 intensive homes sell at auction but “no bids” raise questions

6 of the 10 intensive homes auctioned at Barfoot & Thompson’s city office yesterday were sold under the hammer.

Out of a total residential offering of 20 properties at 2 auctions, 8 were sold, so a strong outcome on intensive dwellings, weaker on standalone homes.

But the more interesting factor arose at the end of the second auction. Of the 7 properties, 2 had sold just short of $1.5 million, 2 had sold below $1 million, one was passed in, and remaining were a cross-leased townhouse at Bucklands Beach and a modest 3-bedroom standalone in Glen Eden. Neither attracted a bid, with the auctioneer closing after seeking a $550,000 start for the Glen Eden home.

In a short few months, the residential market has gone from overpricing enthusiasm to underpricing by neglect, the inability to finance at lower levels or exclusion of likely bidders by regulation.

CBD

Victoria Quarter

The Galleries, 23 Graham St, unit 26:
Features: 200m², 3 bedrooms, 3 bathrooms, study, balcony, 2 parking spaces, storage locker
Outcome: no bid
Agents: Louise Allan & Alex Allan

Isthmus east

Ellerslie

3 Ellerslie Park Rd, flats 2 & 3:
Features: 2 2-bedroom flats, parking space each
Outcome: sold for $1.16 million
Agents: Barry Saxon

Epsom

26 Orakau Avenue, unit 2:
Features: cross-lease, 1/3 share in 839m², 2-bedroom unit, garage
Outcome: sold for $951,000
Agent: Dee Brennan

Greenlane

24 Puriri Avenue, unit 4:
Features: 88m², 2-bedroom unit, internal-access garage
Outcome: sold for $860,000
Agents: Janice Hamilton-Cox & Philip Cox

Mission Bay

21A Comins Crescent:
Features: 3-bedroom townhouse, 2 bathrooms, courtyard, terrace, carport
Outcome: no bid
Agents: Alex Baker

Remuera

117 Grand Drive, unit 2:
Features: refurbished 3-bedroom townhouse, 2 bathrooms, 2 carport spaces, pool, bordering Waiatarua Reserve
Outcome: sold for $1.05 million
Agents: Stephen Rendell

Royal Oak

13C Raurenga Avenue:
Features: 419m² section, 4-bedroom townhouse, 3 bathrooms, double internal-access garage
Outcome: sold for $1.461 million
Agents: Frances Li & Ian Thornhill

North-east

Takapuna

9B Puriri St:
Features: cross-lease, half share in 1012m², 3 bedrooms, garage
Outcome: sold for $875,000
Agents: Will Gluestein

South

Bucklands Beach

119 Bucklands Beach Rd, unit 1:
Features: cross-lease, 1/5 share in 1618m², 4-bedroom townhouse, 2 bathrooms, internal-access garage
Outcome: no bid
Agents: Frances Li & Raymond Chan

Papatoetoe

81A Huia Rd, unit 1:
Features: 69m², 2-bedroom unit, tandem carport
Income assessment: $440/week current
Outcome: no bid
Agents: Neno Radinovich

Attribution: Auctions.

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Retail & office sales at Albany, Remuera & Takapuna

Bayleys agents on the Shore have sold a retail unit at Albany and a Takapuna office building, and were involved in the sale of a Remuera shop. They’ve also completed 3 new leases.

Isthmus east

Remuera

31C Remuera Rd:
Features: 80m² retail unit with food grade licence, 2 parking spaces
Rent: $10,500/year net + gst
Outcome: sold vacant in July for $840,000
Agents: Ryan Dannhauser, Sarah Boles & James Were

North-east

Albany

270 Oteha Valley Rd, unit 13:
Features: 56m² retail unit in the Foundation convenience centre
Outcome: sold vacant in June for $615,000, at $10,982/m²
Agent: James Yu

Takapuna

39 Taharoto Rd:
Features: 1017m² site zoned mixed use, 568m² 2-level office building, 16 parking spaces, 4 tenants plus 180m² under a conditional leasing contract
Rent: $172,000/year net + gst     
Outcome: sold in July for $3.5 million + gst at a 4.9% yield
Agents: Adam Watton, Adam Curtis & Eddie Zhong

Leases

North-east

Albany

9 Tait Place, unit B3:
Features: 160m² unit – warehouse 100m², showroom 30m², office 30m², 3 parking spaces
Rent: leased in July for $26,000/year net + gst, premises rental $162.50/m² (no cost for parking)
Agents: Terry Kim & Laurie Burt

Takapuna

33 Hurstmere Rd, shop S7:
Features: 140.2m² shop, 4 parking spaces
Rent: leased in July for $84,120/year net + gst, parking $35/space/week, premises rental $600/m²
Agent: Ildy Meixner

Wairau Valley

89 Ellice Rd, unit 5D:
Features: 125m² unit – warehouse 100m², showrooms 25m², 2 parking spaces
Rent: leased in July for $30,000/year net + gst, premises rental $240/m² (no cost for parking)
Agents: Adam Watton & Adam Curtis

Attribution: Agency release.

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2 leasehold units plus one in Metropolis sell at auction

2 leasehold apartments – one in the Docks and the other in the Sebel Auckland Viaduct Harbour – plus a unit in the Metropolis were sold at Ray White City Apartments’ auction yesterday, leaving 4 other units unsold.

2 units in the Spencer on Byron hotel in Takapuna were passed in, and a third was withdrawn before the auction started.

CBD

Albert St

Quay West, 8 Albert St, unit 2302:
Features: 74m², one bedroom
Outgoings: rates $1785/year including gst; body corp levy $8433/year
Income assessment: $650-700/week furnished
Outcome: passed in at $565,000
Agent: Ron Yang

Kitchener St

Metropolis, 1 Courthouse Lane, unit 1902:
Features: 52m², corner one bedroom, storage locker, parking space
Outgoings: rates $1595/year including gst; body corp levy $7037/year
Income assessment: $620/week current
Outcome: sold for $616,000
Agent: Dominic Worthington

Quay Park

The Docks, 4 Dockside Lane, unit 224:
Features: leasehold, 30m², one bedroom, remediation of building underway
Outgoings: rates $1037/year including gst; body corp levy $4359/year including ground rent of $1675/year; terminating leasehold from 2011 for 150 years, ground rent reviewed every 7 years, next review November 2018
Income assessment: $390/week current
Outcome: sold for $121,000
Agent: Dominic Worthington

Uptown

Oxford, 13-17 Mount St, unit 5K:
Features: 54m², 2 bedrooms, parking space
Outgoings: rates $1278/year including gst for unit, $1262/year for parking; body corp levy for unit $3624/year, parking $626/year
Income assessment: $650-700/week furnished
Outcome: passed in after the sole bid, from the vendor, at $600,000
Agents: May Ma & Mark Li

Waterfront

Sebel, 85 Customs St West, unit (door) 615:
Features: leasehold, 57m², one bedroom, study area, 7m² balcony
Outgoings: rates $/year including gst; body corp levy $18,038/year, including $7840/year ground rent
Outcome: sold for $300,000
Agents: Judi & Michelle Yurak

North-east

Takapuna

Spencer on Byron, 9-17 Byron Avenue, unit 501:
Features: 59m², fully furnished one bedroom
Outgoings: rates $2190/year including gst; body corp levy $2982/year excluding gst
Income assessment: in hotel management pool
Outcome: passed in at $175,000 + gst
Agents: James Mairs & Gillian Gibson

Spencer on Byron, 9-17 Byron Avenue, unit 612:
Features: 48m², fully furnished one bedroom, parking space
Outgoings: rates $1195/year including gst; body corp levy $3140/year
Income assessment: $550/week, fixed until 30 September
Outcome: passed in at $275,000 + gst
Agents: James Mairs & Gillian Gibson

Spencer on Byron, 9-17 Byron Avenue, unit 712:
Features: 2 bedrooms
Outcome: withdrawn from auction
Agents: James Mairs & Gillian Gibson

Attribution: Auction.

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Industrial unit & office building sell, 6 leases signed

Bayleys agents on the North Shore have sold a Rosedale industrial unit and an office building across the road from Smales Farm, and signed 6 lease deals.

North-east

Sales

Rosedale

19 Orbit Drive, unit B:
Features: 748m² industrial unit – warehouse 438m², office 286m², other area 24m², 11 parking spaces
Outcome: sold in May for $2.2 million + gst at $2941/m² land & building
Agents: Ashton Geissler & Laurie Burt

Takapuna

43 Taharoto Rd:
Features: 897m² site, 700m² 2-level office building occupied by the Waitemata District Health Board and TRG Imaging Ltd, 20 parking spaces, on corner of Shea Rd opposite the Vodafone building at Smales Farm
Rent: $218,475.20/year net + gst
Outcome: sold in June for $4.1 million + gst at a 5.33% yield
Agents: Adam Watton, Adam Curtis & Eddie Zhong

Leases

Albany

28 Corinthian Drive, ground floor:
Features: 81m² retail, 4 parking spaces
Rent: leased in June for $45,350/year net + gst, parking $35/space/week, net $38,070/year excluding parking, premises rental $470/m²
Agents: Eddie Zhong & Dean Gilbert-Smith

Devonport

57-59 Victoria Rd, room 4:
Features: 20m² office,
Rent: leased in June for $8400/year net + gst, premises rental $420/m²
Agents: Jane Sims & Chris White

Rosedale

6 Ascension Place, unit C:
Features: 221m² industrial unit, 3 parking spaces
Rent: leased in June for $29,000/year net + gst, premises rental $131/m² (no charge for parking)
Agents: Ashton Geissler & James Kidd

9-11 Lovell Court, unit Q:
Features: 136m² industrial unit – warehouse 68m², office 68m², 4 parking spaces
Rent: leased in May for $28,000, premises rental $205/m² (no charge for parking)
Agent: Laurie Burt

Wairau Valley

33 Porana Rd, unit 4:
Features: 110m² warehouse, 2 parking spaces
Rent: leased in June for $18,750/year net + gst, premises rental $170.45/m² (no charge for parking)
Agent: Trevor Duffin

39-45 Porana Rd, unit E:
Features: 207m² industrial unit – warehouse 107m², office 100m², 4 parking spaces
Rent: leased in June for $32,500/year net + gst, premises rental $157/m² (no charge for parking)
Agents: Colin Harper & Laurie Burt

Attribution: Agency release.

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2 Shore sales & 5 leases, plus an Onehunga sale

Bayleys agents on the North Shore completed 2 sales & 3 lease agreements at Rosedale and another 2 leases in Takapuna, and were involved in a sale in Onehunga.

Sales

Isthmus east

Onehunga

72 & 76 Onehunga Mall:
Features: 2292m² site zoned mixed use, 1257m² building
Rent: $96,900/year net + gst
Outcome: sold in May for $1.8 million + gst at a 5.38% yield
Agents: Ranjan Unka, Scott Kirk & James Were

North-east

Rosedale

9 Airborne Rd, unit A:
Features: 288m² industrial unit occupied by Freedom Flooring Ltd – office 172m², warehouse 116m², 8 parking spaces
Rent: about $44,000/year net + gst
Outcome: sold for $850,000 + gst at a 5.18% yield, premises rental $2951/m²
Agents: James Kidd & Ashton Geissler

118 Bush Rd, unit D:
Features: 194m² work/live industrial unit – warehouse 92m², showroom 44m², living area 58m², 3 parking spaces
Outcome: sold in May for $740,000/year + gst at $3895/m² land & building
Agent: Laurie Burt

Leases

North-east

Rosedale

59 Apollo Drive, unit 4, suite 2:
Features: 44.5m² office, 2 parking spaces
Rent: leased in May for $13,500/year net + gst, premises rental $303.37/m² (no charge for parking)
Agents: Chris White & Jane Sims

8 John Glenn Avenue:
Features: 1766.4m² office & warehouse – warehouse 1268.5m², office 216.7m², canopy 281.2m², 20 parking spaces
Rent: leased in May for $270,000/year net + gst, premises rental $152.90/m², parking $10/space/week
Agents: Matt Mimmack, Ashton Geissler & Laurie Burt

11 Piermark Drive, unit I:
Features: 163m² industrial unit, 3 parking spaces
Rent: leased in May for $29,500/year net + gst, premises rental $181/m² (no charge for parking)
Agents: Laurie Burt

Takapuna

360 Lake Rd:
Features: 90m² office
Rent: leased in May for $29,000, premises rental $322/m²
Agent: Dean Gilbert-Smith

10 Northcroft St, level 2:
Features: 430m² office, no parking
Rent: leased in May for $132,870/year net + gst, premises rental $309/m²
Agents: Dean Gilbert-Smith

Attribution: Agency release.

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