Archive | North-west

Notification sets Whenuapai on course for urbanisation

Auckland Council will publicly notify the proposed plan change tomorrow to rezone 124ha at Whenuapai from the future urban zone to urban zones. The submission period will close on Thursday 19 October and independent commissioners will hear submissions in the first half of 2018.

In the map: The central purple zones are for light industry. The yellow to brown zones are for a range of residential intensities.

It’s the first step in urbanisation of rural Whenuapai and is in the first batch of plan changes under the new unitary plan, now operative in part. Others approved for notification by the council’s planning committee on 5 September were for extension of the Auranga subdivision at Drury and for Fletcher Residential Ltd’s subdivision at the Three Kings quarry.

The plan change for stage 1 development in the south-east corner of Whenuapai provides for 124ha of light industrial land and capacity for 4-5000 homes.

Planning committee chair Chris Darby said a large amount of infrastructure was required for the greenfield area, and the plan change aimed to ensure infrastructure was in place to support all development.

Issues it addresses include managing stormwater run-off and ensuring there are opportunities to enhance the degraded stream & coastal environment, mostly through planting along streams.

The proposed plan change would also protect an historic heritage area in Clarks Lane and an anti-aircraft battery site on Spedding Rd.

Assuming plan change approval, stage 1 construction is likely to occur between 2018-28.

Stage 2 of the larger Whenuapai area is constrained by the new Northern Interceptor wastewater pipeline due to be built in 2026, and transport infrastructure outlined in the supporting growth strategy, which is necessary to support development. A further plan change will be required for stage 2.

Cllr Darby said: Notification of the plan change for stage 1 is a positive sign, showing that we’re moving from the planning phase to actually making land available for real homes that people can live in.

“It follows successful structure planning for the area – the first in a number of structure plans that will eventually pave the way for up to 137,000 new homes in north, north-west & southern greenfield areas.”

Attribution: Council release & committee agenda.

Continue Reading

Spread of sales & leases by Shore agents

Latest transactions signed by Bayleys’ North Shore agents included sale of a hostel in the university precinct of downtown Auckland, the lease on a Ranui shop and a sale & 2 leases in the Rosedale area of Albany.

Sales

CBD

Uptown

47 St Paul St, unit 2B:
Features: 179m² 10-room Central Hostel, parking space
Outcome: sold in September for $1.18 million + gst
Agent: David Han

North-east

Rosedale

27-29 William Pickering Drive, unit F4:
Features: 210m² office, 6 parking spaces
Rent: about $55,600/year net + gst
Outcome: sold in September for $765,000 + gst at a 7.27% yield
Agents: Ildy Meixner & Alex Strever

Leases

North-east

Rosedale

1-3 Parkhead Place, unit 2:
Features: 448m² office unit, 9 parking spaces
Rent: leased in September for $95,000/year net + gst, parking $16/space/week      
Agents: Alex Strever, Laurie Burt & Matt Mimmack

10 Vega Place, unit G:
Features: 330m² industrial unit – warehouse 190m², showroom 70m², office 70m², 6 parking spaces
Rent: leased in September for $53,000/year net + gst, premises rental $160.61 (including parking)
Agents: Alex Strever & Laurie Burt

North-west

Ranui

20B Pooks Rd:
Features: 90m² retail
Rent: leased in August for $20,000/year net + gst, premises rental $222/m²
Agents: Dev Choudhury & Damian Stephen

Attribution: Agency release.

Continue Reading

Herne Bay apartment sells

A Herne Bay apartment (outlined in picture) was sold at Bayleys’ city residential auction yesterday, and a Henderson cross-lease was passed in.

Isthmus west

Herne Bay

5 Curran St, unit 6:
Features: renovated one-bedroom top-floor apartment, parking space
Outgoings: body corp levy $3663/year
Outcome: sold for $825,000
Agent: Chris Batchelor

North-west

Henderson

63A Sturges Rd (flat 2):
Features: cross-lease, half share in 1031m², 3 bedrooms, garage + extra parking
Outcome: passed in at $635,000
Agent: Karina Thorburn

Attribution: Auction.

Continue Reading

8 out of 10 sell at Bayleys commercial auction

8 of the 10 properties in Bayleys’ Total Property commercial auction yesterday were sold under the hammer.

6 of them were vacant or with short leases. Of the 3 where a yield could be calculated, an Asian supermarket in Papakura (outlined in picture) sold at 4.7%, a Grange hair salon at Warkworth sold at 5.9% and a Birkenhead property with 5 tenants sold at 6%.

Isthmus east

Onehunga

12 George Terrace:
Features: vacant 521m² site, 515m² refurbished standalone industrial building, zone allows live/work or residential
Outcome: sold for $1.4 million
Agents: James Valintine & William Gubb

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: sold for $3.22 million
Agents: Millie Liang

St Johns

121 Morrin Rd:
Features: 4755m² site, 2312m² high stud warehouse, 6 roller doors, small office, yard + parking
Rent: short-term tenancy in place
Outcome: sold for $6.81 million
Agents: Jamsheed Sidhwa, Luke Carran & James Valintine

North-east

Birkenhead

49-55 Birkenhead Avenue:
Features: 801m² site, 481m² floor area, 5 tenants, town centre zoning has 21m height limit
Rent: $112,070/year net + gst
Outcome: sold for $1.867 million at a 6% yield
Agents: Michael Nees, David Huang & Oscar Kuang

Browns Bay

755 Beach Rd:
Features: vacant 1029m² site, 70m² building, mixed use zoning allows building height up to 4 storeys
Outcome: passed in at $700,000
Agents: Ranjan Unka & Anna Radkevich

Rosedale

372 Rosedale Rd, unit 2A:
Features: 186.7m² first-floor office, 6 parking spaces, tenant Bayleys Real Estate Ltd
Rent: $58,209/year net + gst + outgoings, 18-month lease from 1 April, 2 18-month rights of renewal
Outcome: no bid
Agents: Matt Mimmack & Eddie Zhong

Unsworth Heights

1 Greenwich Way, shop 7:
Features: 186m² retail unit, tenant BookPrint Ltd
Rent: $51,520/year net + gst + outgoings
Outcome: withdrawn from auction
Agents: Dean Gilbert-Smith & Adam Curtis

Warkworth

The Grange, 67 Auckland Rd, unit 22A & 22B:
Features: 119m² shop, tenant Vivo Beauty Ltd
Rent: $49,100/year net + gst, new 8-year lease
Outcome: sold by the developer, Square & Main Street Ltd (Adam Reynolds) for $830,000 at a 5.9% yield
Agents: Matt Lee, James Chan & Henry Napier

North-west

Henderson

111 Lincoln Rd, unit FB:
Features: retail unit, tenant Petstock
Rent: $105,000/year net + gst, new 6-year lease
Outcome: withdrawn from auction
Agents: Tony Chaudhary & James Chan

South

East Tamaki

20 Ra Ora Drive:
Features: vacant 4885m² site, metalled, fenced & electronic security gate, former Howick Bus Co Ltd depot
Outcome: sold for $2 million
Agents: John Bolton, Roy Rudolph & Katie Wu

Papakura

303-305 Great South Rd:
Features: 2023m² site zoned business mixed use, Asian supermarket tenant
Rent: $161,740/year net + gst, new 4-year lease + 3 4-year rights of renewal
Outcome: sold for $3.44 million at a 4.7% yield
Agents: Quinn Ngo, Matt Lee & Piyush Kumar

Takanini

305 Great South Rd:
Features: vacant 990m² industrial site, 448m² warehouse
Outcome: sold for $1.52 million
Agents: Shane Snijder & Peter Migounoff

Attribution: Auction.

Continue Reading

Updated: National spread of commercial sales for Colliers

Published 5 September 2017, updated 7 September 2017:
Colliers agents have reported a spread of sales from Riverhead & Silverdale in the north of the Auckland region, through Napier and down to Cromwell & Invercargill. Changed details about the Silverdale property are shown immediately below.

North-east

Silverdale

Corrected: 164 Foundry Rd:
Features: 2500m² secure fenced yard – 603m² warehouse, 189m² office & amenities, additional covered storage area, leased to Go-Bus Transport Ltd [originally written as a 3610m² warehouse, no mention of other parts of the property]
Rent: $220,000/year net + gst
Agents: Jimmy O’Brien, Ryan de Zwart & Josh Coburn

North-west

Riverhead

1047-1049 Coatesville-Riverhead Highway:
Features: 1652m², 2-tenant new retail development
Rent: $281,933/year net + gst
Outcome: sold for $5.175 million at a 5.45% yield
Agents: John Davies & Jimmy O’Brien

South of the Bombays

Hawke’s Bay

Napier

47 Petane Rd:
Features: 6439m², hotel + caravan park
Outcome: sold for $1.41 million, at an 8.5% yield
Agents: Reuben George & Dan Walker

South Island

Central Otago

Cromwell

27 McNulty Rd:
Features: 2652m², commercial site leased to Caltex
Outcome: sold for $905,000, at a 6% yield
Agents: Mark Simpson, Rory O’Donnell & Dean Collins

29a McNulty Rd:
Features: 4906m², tenanted industrial property
Outcome: sold for $1.625 million, at a 6.45% yield
Agents: Mark Simpson, Rory O’Donnell & Dean Collins

31 McNulty Rd:
Features: 5618m²,  tenanted industrial property
Outcome: sold for $1.945 million, at a 6.4% yield
Agents: Mark Simpson, Rory O’Donnell & Dean Collins

Southland

Invercargill

5 Liddell St:
Features: 1827m², commercial investment leased to Ideal Electric         
Outcome: sold for $1,001,500, at a 7% yield
Agents: Mark Simpson & Rory O’Donnell

Attribution: Agency release.

Continue Reading

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.

Continue Reading

Council starts public process for city centre & waterfront planning refresh, plus 3 subdivision plan changes

Auckland Council’s planning committee agreed yesterday to a refresh programme for the city centre & waterfront, but it will be 10 months before the final version of it is decided.

It’s also complicated by requirements evolving for the America’s Cup yachting contest to be held in Auckland in 2019, and where the estimated 30,000m² of land for the bases plus water spaces for the yachts might go.

The large programme of works for city centre & waterfront would be implemented under a review of the original central business district & waterfront plans completed in 2012.

But first the councillors & Independent Maori Statutory Board members have to put their money caps on, in their roles as the finance & performance committee, to prioritise works. That committee’s scheduled to meet (twice) in a fortnight.

And then the whole shebang has to go out to public consultation early next year as part of the council’s long-term plan review, returning to the council for signoff just before the start of the new financial year on 1 July 2018.

3 plan changes & a tidy-up under the new unitary plan

A second novelty yesterday came in the form of 4 plan changes – the first batch under the super-city’s unitary plan, which combines an updated composite of all the district plans of the councils 7 territorial predecessors and also includes an updated regional policy statement.

The unitary plan is still not fully operative, with parts of it before the courts. 2 of the proposed changes to it before the committee yesterday were private – from Karaka & Drury Ltd (Charles Ma) to extend its Auranga subdivision at Drury, and from Fletcher Residential Ltd, recognising an agreement with opponents of the company’s Three Kings quarry residential development.

The other 2 plan changes were brought by the council, one for its rezoning of land at Whenuapai from future urban so development can start on part of it over the next 4 years, with later stages set for development starting in 2028.

The last change, from the council, is to correct technical errors & anomalies discovered in the unitary plan.

  • You can check the detail in the refresh and the plan change proposals through the links below. I’ll roll out articles on each of them, and yesterday’s debate, over the next few hours.

Planning committee agenda, Tuesday 5 September
9, City centre & waterfront planning refresh
11, Auckland unitary plan (operative in part) – private plan change request from Karaka & Drury Ltd – Auranga B1
12, Auckland unitary plan (operative in part) – private plan change request by Fletcher Residential Ltd – Three Kings 
13, Auckland unitary plan (operative in part) – proposed plan change – Whenuapai 
14, Auckland unitary plan (operative in part) – proposed plan change – administrative plan change – to correct technical errors & anomalies

Story, 1 September 2017: Grand downtown & waterfront plans raise the question: The money?

Attribution: Council committee agenda & meeting.

Continue Reading

Slow, but a 61% success rate at auctions

Image above: The Oxford on Mount St – one apartment sold, one passed in.

It took auctioneer Murray Smith 30 minutes & much twiddling of his thumbs this morning before he banged his hammer down for the sale of one apartment. Next up, there were 3 bidders and a sale ensued in a few minutes.

In 5 sessions this week, auctioneers at Barfoot & Thompson’s city office put through 41 residential properties, 16 of them which I categorise as intensive (apartments, townhouses, suburban units – I wasn’t at all sessions and don’t know if any others were cross-leased).

A year ago, that would have been the throughput on a Wednesday or Thursday morning, so volume is well down.

But the sales ratio under the hammer this week was strong – 25 sold out of 41 homes offered, a 61% success rate. For the intensives, 9 sold out of 16 offered, a 56% success rate.

CBD

Albert St

Quay West, 8 Albert St, unit 1202:
Features: 74m², one-bedroom apartment, balcony, parking space
Outcome: sold for $695,000
Agents: Cici & Miro Wang

Commerce/Gore

HarbourCity, 16 Gore St, unit 28I:
Features: 38m², one-bedroom apartment
Outgoings: body corp levy $2851/year, $5099 special levy for leaks remediation
Outcome: sold for $279,000
Agent: Jason Buckwell

Federal St

207 Federal St, unit 506:
Features: 61m², 2-bedroom apartment, balcony
Outcome: sold for $536,000 at auction brought forward
Agents: Cici & Miro Wang

Learning Quarter

Celestion, 19 Anzac Avenue, unit 1002:
Features: 55m² apartment including balcony, 2 bedrooms
Outgoings: body corp levy $4536/year
Outcome: sold for $535,000
Agents: Zoran Farac & Leo Shin

Oxford, 13-15 Mount St, unit 4H:
Features: 34m² studio, deck
Outgoings: body corp levy $2147/year
Outcome: sold for $290,000
Agents: Leo & Stephen Shin

Oxford, 13 Mount St, unit 13F:
Features: 42m², one-bedroom apartment
Income assessment: $360/week current
Outcome: passed in
Agent: Yuyu Cao

Victoria Quarter

Marina Park, 146 Fanshawe St, unit 12:
Features: one-bedroom apartment, garage
Outcome: withdrawn from auction
Agents: Bella Stefano & Sherry Shao

Waterfront

Princes Wharf, 137 Quay St, unit 10:
Features: leasehold, 57m², one-bedroom apartment, balcony
Outgoings: 5-yearly ground rent review has been replaced with a fixed annual increase of 3% or CPI, whichever is greater
Outcome: no bid, back on market at $228,000
Agent: Anah Jordan

Isthmus east

Ellerslie

178A Ladies Mile:
Features: 3-bedroom standalone townhouse, deck, carport
Outcome: passed in at $730,000
Agents: Anna Stephens-Brown

Epsom

22 Rangiatea Rd, unit 3:
Features: 98m², 2-bedroom unit, garage, storage, 2-year-old roof, ceiling insulated
Outcome: passed in at $880,000
Agent: Helen Lam

Mt Wellington

51 Ireland Rd, unit 41:
Features: 2-bedroom terrace, study, carport, in gated complex
Outcome: passed in at $480,000, back on market at $560,000
Agent: Kevin Liu

Panmure

10B Allenby Rd:
Features: 2-bedroom upstairs end unit, garage, storage
Outcome: no bid
Agents: George Fong & Paul Sun

Parnell

28C Stanwell St:
Features: 2-bedroom garden apartment, 2 bathrooms, study, courtyard, 2 parking spaces
Outcome: sold for $775,000
Agent: Cindy Yu

St Johns

35 Simkin Avenue, unit 2:
Features: 2-bedroom unit, carport, basement workshop
Outcome: passed in, back on market at $698,000
Agent: May Long

Isthmus west

Mt Eden

14 Lovelock Avenue, unit 10:
Features: 2-bedroom apartment, balcony, parking space
Outcome: sold for $640,000
Agent: Prasanna Kumar & Aaron Julian

Waterview

1510 Great North Rd, unit 15:
Features: 88m², 3-bedroom apartment, 2 bathrooms, parking space, newly reclad & code compliance certificate issued in January
Outcome: sold for $380,000
Agents: David Dowse & Susie Calderwood

North-west

Henderson

16 Buscomb Avenue:
Features: 1033m² site, 3-bedroom house + 2 separate 2-bedroom units, all redecorated, new kitchens & bathrooms; house has basement garage, carport, storage; units have their own entrance from Sel Peacock Avenue, offstreet parking; zoned terrace housing & apartments
Outcome: sold for $1.771 million
Agent: Jim Murray

Attribution: Auctions, auction documents.

Continue Reading

Vincent St apartment sells

A pet-friendly apartment, in the former Beca building up Vincent St from Aotea Square, was sold under the hammer at City Sales’ auction today, while the other 2 units on offer were both passed in.

CBD

Uptown

CityZone, 11 Liverpool St, unit 1111:
Features: 18m² furnished studio,
Outgoings: rates $1019/year including gst; body corp levy $2017/year
Outcome: passed in after sole bid from the vendor at $180,000
Agent: Iona Rodrigues

132 Vincent St, unit 2F:
Features: 62m², 2 bedrooms, 9m² deck, parking space, pet-friendly
Outgoings: rates $1773/year including gst; body corp levy $5655/year
Income assessment: $650-700/week
Outcome: sold for $658,000
Agent: Tanya Rotherham

North-west

New Lynn

Merchant Quarter, 20 McCrae Way, unit 507:
Features: 55m², one bedroom + flexi room, deck, parking space on separate title
Outgoings: rates $1477/year including gst; body corp levy $2727/year, parking levy $321/year
Outcome: passed in after sole bid from the vendor at $450,000
Agents: Trisha Shanaghan

Attribution: Auction.

Continue Reading

All 4 commercial properties sell at Barfoots auction

All 4 commercial properties auctioned at Barfoot & Thompson’s city office yesterday were sold, one shortly after auction.

All 4 went at yields of 5% or slightly over that, although a mainstreet shop in Henderson (pictured) was rated “comfortably under-rented”.

Isthmus east

Onehunga

134 Captain Springs Rd:
Features: 1343m² light industrial site, 1002m² building – 908m² warehouse, 94m² office, near new roof & guttering, 3-phase power, leased to Vaico Ltd on 3+3+3-year lease term, market rent reviews every 2 years
Rent: $109,800/year net + gst     
Outcome: sold for $2,187,500 at a 5% yield
Agents: Nick Wilson & James Marshall

Panmure

2 Domain Rd:
Features: 248m² corner site, 49m² workshop, rezoned terraced housing & apartments
Rent: $24,000/year net + gst from long-term tenant
Outcome: sold post-auction for $460,000 at a 5.2% yield
Agent: Mike Jensen

Parnell

155 Parnell Rd:
Features: 68m² ground-floor retail unit, tenant on new 6-year lease from July 2016, covered parking space
Rent: $59,700/year net + gst + outgoings         
Outgoings: body corp levy $11,523/year
Outcome: sold for $1,172,500 at a 5.1% yield
Agents: John Stringer & Agnes Teh

North-west

Henderson

397 Great North Rd:
Features: 271m² site, 200m² mainstreet retail; auctioneer Murray Smith said the rent was “comfortably below market – it could be heading up to $40,000”
Rent: $27,130/year net + gst at a 4.98% yield on current rent, 7.3% on the potential $40,000
Outcome: sold for $545,000
Agents: Duane Mullooly & Chris Peterson

Attribution: Auction.

Continue Reading
WordPress Appliance - Powered by TurnKey Linux