Archive | Dunedin

4 Colliers sales around country

Colliers agents have recorded 4 sales – 2 in Auckland, 2 others at auctions in Tauranga & Dunedin.

Isthmus east

Mt Wellington

20 Vestey Drive:
Features: 6898m² site, 4179m² office & warehouse, leased to Forman Building Systems Ltd
Rent: $535,000/year net
Outcome: sold for $8.75 million
Agents: Andrew Hooper & Hamish West

Isthmus west


22 Patrick St:
Features: 1971m² site, recently refurbished 1508m² of building – 1141m² in 3 adjoining warehouses, office & amenity 232m², storage 47m², canopy 85m², occupied by Webbing & Tapes REM Ltd, previously owned by a trust
Rent: $154,844/year net, 3%/year increases
Outcome: sold for $1.95 million
Agents: Adam White & Hamish West

South of Bombays


18 Marsh St:
Features: 883m² site, 530m² floor area, office & warehouse, Tile Warehouse Ltd on 6-year lease
Rent: $85,000 + gst + opex
Outcome: sold at auction for $1.3 million at 6.5% yield
Agents: Simon Clark & Duncan Woodhouse

South Island


408 Anderson Bay Rd:
Features: 1531m² site, 714m² floor area, The Mill Liquorsave
Rent: $155,750/year from lease running until July 2018
Outcome: sold at auction for $2.3 million to local investor at 6.75% yield
Agents: Alan Pracy & Dean Collins

Attribution: Agency release.

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All 4 Bell Tea properties sell through tender

A portfolio of 4 Bell Tell industrial properties – 3 in East Tamaki, one in Dunedin – has been sold for a total $18.65 million through a Bayleys tender.

Bell Tea & Coffee Co Ltd’s main production plant & head office in East Tamaki was sold for $10.8 million at a 5.8% yield. All 3 East Tamaki properties had new 12-year leases in place.

Bayleys agent Paul Dixon, who managed the sale, said: “These are exceptionally long lease terms for industrial premises which, coupled with their strong location in one of New Zealand’s most sought after industrial precincts, meant they generated a significant amount of interest.”


East Tamaki

43 Crooks Rd:
Features: 1.3745ha corner site, 5463m² tea & coffee production facility purpose-built in 2008, high-stud warehousing of 12-13m, 4000m² of bare land provides development opportunities
Outcome: sold for $10.8 million at a 5.8% yield

305 East Tamaki Rd:
Features: 6052m² site, 4175m² sq m industrial facility, formerly Bell Tea’s main Auckland production plant, renovated in 2008 and used by the company as a production, storage & distribution facility
Outcome: sold for $5 million at a 7.2% yield

317 East Tamaki Rd:
Features: 3035m² site, 1750m² industrial building now leased to Eagle Wire Products Ltd
Outcome: sold for $2.52 million at a 6.7% yield

South Island


15 Hope St:
Features: 2623m² processing & warehouse facility, built in the early 1920s and added to in the 1950s & 1980s, requires seismic strengthening
Outcome: sold with vacant possession for $335,000

Attribution: Agency release.

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Southern incentives draw F&P Appliances

Expansion plans include adjoining mini-industrial park

Fisher & Paykel Appliances Ltd will expand its Taieri plant outside Dunedin because of DishDrawer dishwasher and cooking product sales.

Managing director John Bongard said the final decision was based on extensive support from Dunedin City Council in planning for the expansion.

Those plans include development of a mini-industrial park on 1.5ha the company has set aside beside its plant. F&P Appliances has 600 staff in Dunedin, and the proposed industrial park could produce 60 skilled jobs.

Cllr Malcolm Farry, who chairs the council’s economic development committee, said a manufacturing cluster would provide product support to Fisher & Paykel Appliances in areas that are currently
outsourced from outside Dunedin.

He said negotiations were advanced with a number of companies new to the city. Incentives offered through the council’s economic development unit included build-leaseback support on commercial terms, rates relief, serviced premises built by the council, and long-term commercial leases.

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