Archive | North-west

3 auction sales for NAI Harcourts

NAI Harcourts has sold 3 commercial properties at auction this month, 2 in the Rosedale area on the North Shore and one in Kelston.

North-east

Rosedale

9A Beatrice Tinsley Crescent:
Features: 408m² unit
Outcome: sold to an investor for $1.355 million
Agents: Mike Fotu & Andrew Bruce

5C Piermark Drive:
Features: 339m² unit
Rent: $55,700/year net + gst
Outcome: sold for $1.01 million at a 5.5% yield
Agents: Mike Fotu & Marty Van Barneveld

North-west

Kelston

34 Cartwright Rd:
Features: 2092m² site, 948m² unit
Rent: $80,217/year net + gst
Outcome: sold to an investor for $1.33 million at a 6% yield
Agents: Marty Van Barneveld & Andrew Bruce

Attribution: Agency release.

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Edinburgh Castle among 3 Bayleys sales

The refurbished Edinburgh Castle, at the top of Symonds St and the start of Eden Terrace, has been sold after a tender opened in February. Bayleys agents have also sold a mixed-use (office, retail & residential) building round the corner at the start of Mt Eden Rd and a vacant Glendene warehouse.

Image shows: The Edinburgh Castle on the Newton Rd-Symonds St corner after a complete makeover, at the centre of a widening regeneration zone that spreads from city fringe Newton & Eden Terrace and heads west along both New North & Great North Rds.

Isthmus west

Eden Terrace

215 Symonds St:
Features: 571msite on corner of Newton Rd, 150-year-old recently refurbished Edinburgh Castle Hotel, 724m2 2-level building with new 10-year lease to food & beverage and residential accommodation business
Rent: $230,000/year net + gst
Outcome: sold for $3.9 million at a 5.9% yield
Agents: Alan Haydock & Damien Bullick

Mt Eden

15-19 Mt Eden Rd:
Features: 455m² site in Grammar zone, 452m² 2-level building with 2 ground-floor retail tenants & residential tenancy above, 7 onsite parking spaces to the rear
Rent: $181,220 /year net + gst
Outcome: sold for $3.3 million at a 5.49% yield
Agent: Phil Haydock

North-west

Glendene

4 Bancroft Crescent:
Features: 2187msite, 887mindustrial building – warehousing 800m2, office 87m2, 10 parking spaces
Outcome: sold with vacant possession for $1.55 million
Agents: Bill Lissington & James Hill

Attribution: Agency release.

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Corrected: Shenzhen developer launches first Auckland project at Hobsonville

Published & corrected 24 April 2017
Chinese developer Far East said on Friday it would build 39 terraced homes in the first stage of its 150-home Hobson Quarter development (pictured) between the Hobsonville village shops and the Upper Harbour Motorway, called Q|One. [Corrected: Originally I wrote that this development was at Hobsonville Point.]

Far East has also bought a 3406m2 site next to the Westfield Mall at Albany for over 200 apartments on 18 storeys in 2 buildings, plus retail & parking facilities.

The developer is part of the privately owned JiaHe JianAn Group, which has built about 7000 apartments in a decade in Shenzhen, China, and expanded into Australia in 2013.

Its Australia subsidiary, Zone Q Investments Pty Ltd, entered the Perth market first with an $A100 million apartment & commercial project overlooking the Swan River. It now has 4 Perth residential projects & one commercial property there, and bought in Sydney in December. It has the Aqualuna apartment development planned for a waterfront Milsons Point site and has also bought land in the north-western suburb of Cherrybrook, 30km from the Sydney cbd.

In New Zealand, Far East has an anticipated $300 million pipeline of residential & commercial projects. At Hobson Quarter, it’s working with Kate Roach Architecture & Design, which has studios in Melbourne & Auckland, and Greenstone Group Ltd for project management.

Marketing manager Daniel Zou said Far East had also identified other potential development sites in Auckland & Wellington, including prime office buildings. He said the move into New Zealand was a natural one as Kiwis began to consider a wider range of housing options in a tighter market.

“We spent a long time analysing the New Zealand market to determine the developments that would best suit local demand. We built an Auckland-based team and have partnered with well-known, respected local companies to develop homes tailored to the Kiwi lifestyle.

“We firmly believe that every property development needs to suit each community’s needs and Q|One is the epitome of this – higher density living that supports Auckland’s growing population, while still embracing New Zealanders’ love of large homes with generous outdoor spaces.”

Pre-sales for Q|One are underway through Bayleys Realty Group and construction is scheduled for completion in late 2018.

Links: Hobson Quarter
http://hobsonquarter.co.nz/
Zone Q
http://zoneq.com.au
Kate Roach Architecture & Design
http://www.kateroach.com.au/

Attribution: Company release.

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10 sell at Bayleys’ commercial auction

9 properties were sold under the hammer and one post-auction of the 17 in Bayleys’ commercial auction yesterday. Another 3 were sold prior.

[Today’s report is short on some detail.]

CBD

Learning Quarter

5 Eden Crescent, units A & B:
Features: 600m² strata title, renovated, licensed karaoke bar & restaurant
Rent: $161,000/year net + gst
Outcome: passed in at $2.5 million
Agents: Oscar Kuang & Nicolas Ching

Queen St

239 Queen St, unit 1A:
Features: new 12-year lease
Rent: $150,657/year net + gst
Outcome: withdrawn from auction
Agents: Quinn Ngo & James Chan

Isthmus east

Ellerslie

38 Eaglehurst Rd, unit 7:
Features: warehouse
Outcome: declared reserve of $600,000, sold for $800,000
Agents: Andrew Wallace & Cameron Melhuish

Epsom

206 Manukau Rd:
Features: 898m² corner section,
Rent: $67,340/year holding income
Outcome: passed in at $3.55 million
Agents: Owen Ding & James Chan

Mission Bay

2 Atkin Avenue, unit 1:
Features: 374m² site zoned mixed use (up to 18m) under unitary plan, 3-bedroom unit, garage
Outcome: sold for$1.955 million
Agents: Phil Haydock & Angela Yang

Onehunga

18 George Terrace:
Features: 342m² site zoned mixed use, warehouse, office, amenities
Outcome: sold for $1.072 million
Agents: James Valintine & William Gubb

4 Newsome St:
Features: 493m², permissible height 20m
Outcome: no bid
Agents: Tony Chaudhary & James Valintine

Panmure

100 Queens Rd:
Features: town centre zone under unitary plan
Rent: $121,000/year net + gst
Outcome: passed in at $1.6 million
Agents: Mark Pittaway

Isthmus west

Eden Terrace

12 Fleet St:
Features: 336m² site
Rent: $52,260/year
Outcome: sold prior at declared reserve of $1.25 million
Agents: James Were & Scott Kirk

Mt Roskill

439 Mt Albert Rd:
Features: corner site, 4-bedroom home, internal garage, 3 commercial tenancies on ground floor
Outcome: auction postponed
Agents: Phil Haydock & Angela Yang

Ponsonby

91 College Hill:
Features: 337m² site zoned mixed use, 275m² gross floor area, 5 secure parking spaces
Outcome: sold for $2,577,500
Agents: Nigel McNeill & Meredith Graham

Sandringham

513 Sandringham Rd:
Features: retail + refurbished 3-bedroom flat
Rent: $88,060/year
Outcome: sold for $1.75 million
Agents: Scott Kirk & Damien Bullick

North-east

Northcote

44 Akoranga Drive:
Features: 946m² corner site, mixed use zone next to AUT
Outcome: sold for $2.5 million
Agents: Michael Nees & Simon Aldridge

Takapuna

6 & 6A Blomfield Spa:
Outcome: withdrawn from auction
Agents: Simon Aldridge & David Huang

Wairau Valley

170 Wairau Rd, unit 18:
Features: Hell Pizza on long-term lease
Rent: $54,000/year net + gst + outgoings
Outcome: sold for $990,000
Agents: Paul Dixon & Tony Chaudhary

North-west

Glendene

3 Bancroft Crescent:
Features: 3584m² site, long-term tenant, 6-year lease term with renewal rights
Rent: $225,000/year net + gst
Outcome: passed in at $2.775 million
Agents: Dave Stanley & Stuart Bode

New Lynn

3019 Great North Rd & 2 Bentinck St:
Features: 1459m² corner site in 2 titles, vacant possession
Outcome: passed in at $1.625 million at $1114/m²
Agents: Mike Adams & Scott Kirk

South

Botany Downs

286 Cascades Rd:
Features: 7493m² site opposite Pakuranga golfcourse, 70m frontage to Cascades Rd
Outcome: sold for $6.1 million
Agents: Dave Stanley & Graeme Sun

Botany South

Bishopsgate business centre, 2 Bishop Dunn Place, unit 32:
Features: 134m² first-floor office, storage, 2 parking spaces
Outcome: sold for $465,000
Agents: Geoff Wyatt & Dave Stanley

Takanini

292 Great South Rd:
Features: 2209m² site, standalone office & warehouse building anchored by long-term office lease + 2 warehouse tenants
Rent: $152,592/year net + gst
Outcome: sold for $2.68 million
Agents: Sunil Bhana & Peter Migounoff

South of the Bombays

Gisborne

412 Gladstone Rd:
Features: 670m² store, seismic rating 100% new building standard, 6-year lease term
Rent: $122,569/year
Outcome: passed in at $1.5 million, sold post-auction for $1.52 million at an 8% yield
Agents: Paul Garland & Colin McNab

Attribution: Auction.

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Wairau Junction outlet & Helensville block sell

A retail unit at Wairau Junction and a small block of land at Helensville were sold at Bayleys’ auction on Wednesday.

North-east

Wairau Valley

Wairau Junction, 170 Wairau Rd, unit 5:
Features: 59m², Indian takeaway on 10-year lease
Rent: $25,000/year + gst + outgoings
Outcome: sold for $454,000
Agents: Janak Darji & Paul Dixon

North-west

Helensville

166A Rimmer Rd:
Features: 4.4374ha, level site with shelter belts & water troughs, greenhouses include water reticulation systems, 2-bedroom cottage
Outcome: sold for $1.37 million
Agents: Karen Asquith, Bridget Dickson & Graeme Mann

Attribution: Auction.

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Committee progresses unitary plan changes, city centre masterplan, waterfront, Panuku programme, Onehunga project, land transport, northern corridor, Whenuapai, sites of significance

Auckland Council’s planning committee began its 6-hour meeting yesterday with input from advocates of no port extension into the Waitemata Harbour, and of relocating the freight operation.

Shortly after, the committee gave its support in principle to an inner dolphin off Queens Wharf as the preferred option for berthing large cruise ships.

The public input came from Shane Vuletich for Urban Auckland, Committee for Auckland & Stop Stealing our Harbour, with Richard Didsbury, Sir Stephen Tindall & Julie Stout.

But the bulk of the day’s meeting was about the “refresh” of the council’s overarching Auckland Plan, completed in 2012 and up for its first review.

The committee has held 4 workshops and had numerous presentations on the Auckland Plan, but also on various other planning documents since last October’s election.

The committee approved a streamlined approach rather than fullscale review with the intention of making the plan more strategic, integrated, focused on spatial issues, a smaller document and one that will be digitally accessible.

It approved a process of early targeted engagement with communities from May-June  on Auckland’s big issues and on the high level strategic direction of the refreshed Auckland Plan.

This article is a brief summary of matters the committee considered. I’ll write in more detail in a few days.

Other items considered:

Item 10, city centre masterplan delivery & implementation, 3 projects to be updated:

  • Victoria linear park & midtown east-west public transport
  • Quay St harbour edge boulevard & Hobson St flyover
  • Queen St, issue identification & project implications.

Item 11, Waterfront planning & implementation:

A targeted refresh of the waterfront plan is underway, focusing on development of Wynyard Pt and optimising the use of the central wharves. 

Item 12, Update on Panuku work programme:

The committee endorsed Avondale as an “unlock” location, where Panuku facilitates development opportunities for private sector investment in town centres.

A high level project plan will go to the committee later this year for approval.

Item 13, Onehunga high level project plan:

The committee adopted Panuku Development Auckland’s high level project plan for the transformation of the Onehunga town centre & surrounding area.

Item 14, Submission on draft national policy statement on land transport:

The committee approved the council’s submission.

Item 15, Northern corridor improvements project, political reference group & delegations:

The committee approved extending delegations so the reference group can provide direction & decisions on the council’s position during the board of inquiry hearing on east-west link project.

Item 19, Unitary plan (operative in part) – future plan changes and processing of private plan changes:

A report was presented on future council-initiated changes to the new unitary plan and the committee approved the criteria for dealing with private plan changes over the next 2 years.

Item 16, Draft Whenuapai plan change – approval & public engagement:

The committee approved a consultation process that will allow for the implementation of the Whenuapai structure plan, which the council approved last September. Public consultation will run from 10 April-14 May.

Item 17, Development of plan change to the unitary plan & Hauraki Gulf islands section of the district plan on sites of significance to mana whenua:

The committee gave approval for the council to engage with mana whenua & landowners on 270 nominated sites of significance to mana whenua as the next step to preparing a plan change. 

Item 18, Unitary plan, assessment of errors to produce the first 2 administrative plan changes:

The committee agreed to develop 2 administrative plan changes, one to correct errors, anomalies & technical details to the text & maps and the other to correct errors in the notable tree schedule.

Links – from committee agenda:
9, Auckland Plan refresh, engagement approach & proposed options

<ahref=”http://infocouncil.aucklandcouncil.govt.nz/Open/2017/03/PLA_20170328_AGN_6720_AT.htm#PDF2_ReportName_52321″ target=”_blank”>10, Auckland city centre masterplan (2012): Delivery & implementation, progress update
Addendum (item 11)
11, Waterfront planning & implementation
Mooring options
Inner dolphin section & plan views
12, Panuku work programme, update
13, Onehunga, high level project
14, Draft government policy statement on land transport, submission
15, Northern corridor improvements project, political reference group & delegations
16, Draft Whenuapai plan change, approval & public engagement
17, Development of plan change to unitary plan (operative in part) and the district plan (Hauraki Gulf islands section), sites of significance to mana whenua
18, Unitary plan (operative in part), assessment of errors to produce the first 2 administrative plan changes
19, Unitary plan (operative in part), future plan changes and processing of private plan changes
20, Summary of planning committee information memos & briefings
Attachment A, 2 March, Staff submission on the Telecommunication Act Review: post-2020 regulatory framework for fixed line services
Attachment B, 22 March, East-West Link, submission
Attachment C, 22 March, northern corridor improvements project, submission
Attachment D, 20 March, structure plans, memo to planning committee members
Attachment E, 15 February, future urban land supply strategy, refresh workshop documents
Attachment F, 1 March, city rail link, briefing documents
Attachment G, 1 March, Auckland Plan refresh, workshop 3 documents
Attachment H, 7 March, city-airport briefing documents (not included)
Attachment I, 10 March, central city waterfront, planning workshop documents
Attachment J, 15 March, Auckland Plan refresh, workshop 4 documents

Related story today:
Start with a figure you don’t know, then plan accordingly….

Attribution: Committee meeting, council staff report.

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Hobsonville Land becomes HLC

Housing NZ Corp subsidiary Hobsonville Land Co Ltd changed its name to HLC (2017) Ltd on Tuesday, and has changed its trading name to HLC, representing “Homes Land Community”.

Chief executive Chris Aiken the change came as the company widened its focus to additional largescale developments around Auckland.

The company was formed to develop Hobsonville Point, the former NZ Defence Force site on the Upper Waitemata Harbour, and celebrated 10 years of residential development last year.

1000 homes have been built at Hobsonville Point and it’s now home to 2310 residents. About 500 more new homes/year are being built. On completion, the 167ha masterplanned development will have 4500 houses & over 10,000 residents.

Mr Aiken said the company had learned a great deal about building quickly at scale, and in a quality way that would foster strong communities and produce affordable homes.

Attribution: Company release.

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Flood-damaged New Lynn building’s demolition starts

Auckland Council said yesterday it had issued a warrant to undertake the emergency partial demolition of the Probett Building in New Lynn.

The building at 3107 Great North Rd was damaged during last week’s flash flooding. The council issued a dangerous building notice last week, and said the owner had worked closely with the council to allow the demolition to proceed.

Initially the owner was planning to undertake the work, but the council wanted to proceed quickly to allow for work on the culvert the water came from to also progress safely.

Council infrastructure & environmental services director Barry Potter said Ward Demolition started work yesterday. It also needed to remove asbestos from the site.

He said the upstream end of the culvert would start to be cleared today.

Attribution: Council release.

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Unlock Henderson project moves toward firm transformation proposal

Council property & development arm Panuku Development Auckland will present proposals to the Henderson-Massey Local Board tomorrow for the transformation of Henderson town centre, based on residential intensification at 3 clusters of sites.

The proposals fall under Panuku’s unlock category of centre transformation developed in 2015 – the main category for big projects, transform, is being led by plans for Onehunga & Manukau Central and work already underway in the Wynyard Quarter and under the Tamaki regeneration partnership; the unlock category covers 7 centres plus housing for the elderly; and the third category, support, covers another 8 centres.

Senior project planning leader Richard Davison, who wrote an extensive paper on how to unlock value in Henderson and transform the town centre, said the vision built on the strong foundations of Waitakere City’s eco-city & inclusive approach.

To get to this stage, Panuku has worked with both the local board & mana whenua, but the assessment which led to Henderson being listed as a transformation target in the first place wasn’t flattering. Mr Davison wrote:

“The Henderson centre is fragmented by the 2 streams & the rail corridor, impacting the connectivity from east to west and from the surrounding suburbs into the central area.

“A combination of reduced public reinvestment & maintenance, along with the poor market perception, exacerbated by local crime rates, the area’s lower socio-economic profile and a main street dominated by shopfront vacancies has acted as a deterrent for private investors & businesses to take risks in delivering new projects to the market.

“While there is a broad & general demand for residential growth, the current housing stock lacks diversity, with apartments & terraced housing difficult to justify or get off the ground in a market that has a limited appetite and a clear limit to price point.

“Thus, combined with an eroded strategic mandate, Henderson has been rendered a financially challenging development location. Therefore, Henderson was chosen as a Panuku ‘unlock’ location as a result of a council-led assessment across the region’s urban centres that had potential for urban regeneration.”

Panuku’s high level project plan is aimed at catalysing & reinvigorating “wider private development potential in central Henderson through 3 broad stages of proposed development on specific council landholdings within the project area. The plan takes a cross-council, town centre-wide view of property opportunities to potentially facilitate & enable high quality, residential-led development.”

Panuku sees opportunities for the short, medium & long term in 3 land clusters. 2 along Henderson Valley Rd are the council site (the old Waitakere City Council headquarters) and the film studios area. The third cluster is a group of surface carparks in key central & gateway locations, which Mr Davison said would create the most urban impact if developed.

Panuku seeks the local board’s endorsement of the proposed vision, the 5 principles that would guide development and the 4 goals guiding development.

Assuming effective transformation, Henderson would have high quality medium-density residential & commercial development, walking & cycling links supporting the Twin Streams pathway, public art and Henderson Valley Rd turned into a high quality, mixed-use residential corridor.

Attribution: Local board agenda.

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Catalina Bay development unveiled

Willis Bond & Co Ltd unveiled its ideas yesterday for Catalina Bay, formerly known as The Landing, at Hobsonville Point.

Through the frame of the old Sunderland hangar – stripped to remove asbestos – to the Catalina workshops where the farmers’ market is based and new offices will be created.

The project takes in the former Catalina flying boat workshops beside the ferry terminal where the Hobsonville farmers’ market has been based, the Sunderland flying boat hangar (which has been stripped down to its framing) and land beside the hangar where apartments will be built.

Willis Bond managing director Mark McGuinness said Catalina Bay would be a new gateway to the west from the water and would improve the prospect of increasing ferry frequency.

The workshops will be transformed for a variety of uses.

It will accommodate a variety of uses, including a micro-brewery, cafés & restaurants, restored character offices as well as the farmers market. Mr McGuinness said some of the office spaces would be idea for cosharing.

60-80 high quality freehold apartments are envisaged in the development beside the hangar, which Mr McGuinness expects will be marketed late this year.

The waterfront site was a key component of the former Hobsonville Royal NZ Air Force base, which served the Pacific in wartime with its flying boats, and was also an early site for TEAL (Tasman Empire Airways Ltd), forerunner of Air NZ.

Almost the whole air force base has been turned over to housing, managed by the Government-owned Hobsonville Land Co Ltd, with individual developers in charge of subdivisions within it.

Willis Bond has been developing the Sunderland precinct, comprising 120 new homes & 11 refurbished former Air Force homes from the 1930s.

The Hobsonville Land Co will be one of the first tenants to occupy the refurbished Catalina Bay office space, late this year.

Attribution: Presentation, company release.

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