Archive | Coromandel

Brooklyn apartment & Thames retail passed in

A refurbished apartment in the Brooklyn building on Emily Place and a Thames retail building were passed in at Bayleys’ auction on Wednesday.

Apartment

CBD

Learning Quarter

Brooklyn, 66 Emily Place, unit 44:
Features: refurbished one-bedroom apartment
Outgoings: body corp levy $4862/year
Outcome: passed in after bid at $450,000 and vendor bid at $475,000
Agents: Julie Prince & Diane Jackson

Commercial

South of the Bombays

Coromandel

Thames, 101 Pahau St:
Features: 587m² building, 2 retail tenants – Resene Paints Ltd & St John Op Shop, upstairs office suite vacant
Rent: $48,600/year net + gst
Outcome: passed in at $665,000
Agents: Geoff Graham

Attribution: Auction.

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12 Total Property auction sales south of Auckland

All 6 properties in Bayleys’ third Wellington Total Property auction for the year were sold under the hammer on Thursday, and another 6 on the Coromandel, Waikato & Rotorua were sold.

South of the Bombays

Coromandel

243 Colville Rd (pictured above):
Features: Shelly Beach campground, 5.0627ha beachfront site operating under Top 10 Holiday Park brand, 5km from Coromandel township, comprising a variety of camping facilities plus manager’s accommodation & house
Outcome: sold as freehold going concern for $3 million
Agents: Josh Smith & Belinda Sammons

Thames

458 Pollen St:
Features: 2836m2 mainstreet site, Mitre 10 the anchor occupant, 1659m2 of buildings earthquake strengthened to over 67% of new building standard, various lease terms to Mitre 10 running to 2021 with renewal rights, plus small upstairs office lease to Home IT Solutions
Rent: $145,500/year net + gst
Outcome: sold for $2.165 million at a 6.7% yield.
Agents: Josh Smith & Mary Walker

Rotorua

Mangakakahi

81 Pururu St:
Features: 1012m2 industrial site, large yard area, 471m2 high-stud warehouse & office building previously split into 2 tenancies
Outcome: sold vacant for $401,000
Agents: Mark Slade & Brei Gudsell

Waikato

Paeroa

56 Grey St:
Features: 9800m² site, 1150m² ex-bulk petfood-processing facility
Outcome: sold vacant for $1.2 million
Agent: Josh Smith

7 Station Rd:
Features: High-exposure 1062m2 corner site with 900m2 warehouse/factory, ex Lemon & Paeroa bottling plant
Outcome: sold vacant for $420,000
Agent: Josh Smith

Te Awamutu

355 Rickit Rd:
Features: 653m2 road-frontage site, 410m2 building, fully leased to 2 established electrical tenants
Rent: $56,000/year net + gst
Outcome: sold for $760,000 at a 7.4% yield
Agents: Alex ten Hove & Mike Swanson

Wairarapa

Masterton

5 Albert St:
Features: strengthened & refurbished 1356m² commercial building, 1006m² of mostly office space leased to Department of Corrections for 9 years from October 2015, 350m² at the front of the building is vacant
Rent: $118,216/year net + gst
Outcome: sold for $1.275 million
Agents: Andrew Smith, John Pritchard & Dave Wish

Wellington

Lower Hutt

444 Cuba St, Lower Hutt.

444 Cuba St:
Features: 1295m² corner site, 300m² rear parking & yard area, high-stud 1100m² refurbished retail building, Hunting & Fishing in occupation for over 20 years, current 6-year lease from October 2014 plus one 4-year right of renewal
Rent: $86,800/year net + gst
Outcome: sold for $975,000 at an 8.9% yield
Agent: Mark Sherlock

MacKay House, 92 Queens Drive, level 2:
Features: 326m² office floor needing renovation, in 1960s building adjacent to Queensgate Mall, part leased to 2 tenants, two-thirds vacant
Rent: $31,500/year gross + gst
Outcome: sold for $50,000
Agents: Paul Cudby & Andrew Smith

Ngauranga

17 Glover St:
Features: 603m2 business 2-zoned narrow, bare site, 300m2 flat usable area, excavation required for greater footprint, concept plans for 270m2 warehouse
Outcome: sold for $280,000 at $464/m2
Agents: Matt Gibbs & Fraser Press

2 Hartham Place South, Porirua.

Porirua

2 Hartham Place South:
Features: 380m², 2-level cbd commercial building, tenant parking at rear, ground floor leased to Pacific Radiology, first floor occupied by law firm & physiotherapist with leases until 2019 & 2020 plus rights of renewal
Rent: $50,350/year net + gst
Outcome: sold for $712,000 at a 7.1% yield
Agent: Jon Pottinger

Waikanae

108 Main Rd:
Features: 161m² purpose-built dental surgery on 1019m² residentially zoned site with large parking area, 5-year lease to Lumino the Dentist from October 2016, with one 5-year right of renewal
Rent: $33,280/year net + gst
Outcome: sold for $582,000 at a 5.72% yield
Agents: Jon Pottinger & Stephen Lange

Attribution: Agency release.

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Updated: Strong yields as 14 sell at Bayleys’ commercial auction, 3 post-auction sales

Published 2 December 2016, updated 5 & 12 December 2016:
Strong yields were a feature as 14 of the 27 properties taken to auction in Bayleys’ final Total Property portfolio for the year were sold under the hammer on Wednesday.

They included 3 units sold in stage 3 of the Grange development (pictured) at the southern entrance to Warkworth, and another one sold post-auction.

2 other properties have been sold post-auction – a unit on Amera Place, East Tamaki, and a property on Moore St, Howick, sold on a 4.1% yield.

CBD

Federal St

205 Federal St, unit R1:
Features: 60m², one of only 2 retail tenants in Federal City apartment building, 8-year lease from July 2014
Rent: $29,120/year net + gst
Outcome: passed in at $475,000
Agents: Piyush Kumar & Oscar Kuang

Learning Quarter

23 Whitaker Place, units 110 & 111:
Features: 120m² unit, suitable for restaurant
Rent: $23,478.26/year from tenant on 3-year lease from 1 August 2014
Outcome: sold for $150,000
Agents: Nicolas Ching & Beterly Pan

Queen St

Mid-City, 239 Queen St, unit 2A:
Features: 282m² floor area on first floor, tenant the Ryo Japanese restaurant, 6-year lease, 2 rights of renewal
Rent: $120,000/year average from 6-year lease
Outcome: no bid
Agents: Graeme Sun & Oscar Kuang

Uptown

3 shops & gym of 14 ground-floor commercial units in the Summit on Symonds apartment conversion building, next to the Langham Hotel at the corner of Karangahape Rd & Symonds St:

105 Symonds St, shop 5, Nata Portuguese Bakery:
Features: 69.47m², 6-year lease
Rent: $49,400/year net + gst
Outcome: passed in at $500,000
Agents: Millie Liang

105 Symonds St, shop 9, laundromat:
Features: 43.41m², self-service laundromat, 8-year lease
Rent: $30,387/year net + gst
Outcome: passed in at $350,000
Agents: Millie Liang

105 Symonds St, shop 11, The Corner Café:
Features: 68.39m², 8-year lease
Rent: $47,873/year net + gst
Outcome: passed in at $500,000
Agents: Millie Liang

103-105 Symonds St, unit 15, Anytime Fitness:
Features: m², 10-year lease, beside the entrance to the Langham Hotel
Rent: $184,000/year net + gst
Outcome: withdrawn from auction
Agents: Millie Liang

Isthmus east

Onehunga

106 Beachcroft Avenue:
Features: 692m² site, 431m² standalone warehouse & office building
Outcome: sold vacant for $1.505 million
Agents: James Valintine & Graeme Moore

255 Onehunga Mall:
Features: 379m² site, Cotton On Clothing (NZ) Ltd on 8-year lease from 15 August with one 8-year right of renewal
Rent: $110,000/year + gst + outgoings, 3%/year rental growth
Outcome: sold for $2.21 million at a 4.98% yield
Agents: Tony Chaudhary & Damien Bullick

Otahuhu

121 Church St:
Features: 731m² site zoned terrace housing & apartment building, 138m² floor area, medical centre on 5-year lease from October 2015
Rent: $48,000/year + gst + outgoings
Outcome: declared reserve of $800,000, sold prior for $933,000 at a 5.14% yield
Agents: Tony Chaudhary & Janak Darji

Panmure

141-157 Queens Rd:
Features: 2963m² site on 2 titles, 1464m² floor area, 35 parking spaces, residential potential under the unitary plan, 27m height limit
Rent: $357,000/year net + gst
Outcome: no bid
Agents: Mark Pittaway

Penrose

419B Church St East:
Features: 1596m² industrial site, 25 parking spaces, 8-year head lease to Southpark Corp Ltd from 1 November 2015
Rent: $25,485/year net + gst
Outcome: passed in after vendor bid at $3.7 million
Agents: James Hill & Ben Bayley

Isthmus west

Morningside

4 Taylors Rd:
Features: 809m² site zoned mixed use, 585m² office & high stud warehouse
Outcome: sold vacant for $2.9 million
Agents: Scott Kirk & James Were

Pt Chevalier

1191 Great North Rd:
Features: 226m² retail, occupied by optometrist & osteopath
Rent: $83,900/year
Outcome: sold for $1.55 million at a 5.4% yield
Agents: Owen Ding & Quinn Ngo

North-east

Birkenhead

268 Onewa Rd, unit 10A:
Features: 125m², office & residential tenancies, town centre zoning, 2 parking spaces
Rent: $23,464.57/year net + gst + outgoings
Outcome: withdrawn from auction
Agents: Tonia Robertson & Chris White

Torbay

934 Beach Rd:
Features: cross-lease, 1/3 share in 1072m², 140m² beachfront retail, only business-zoned property on the Torbay/Waiake beachfront, taken to auction by the Official Assignee under the Criminal Proceeds (Recovery) Act
Outcome: sold for $1.8 million
Agents: Damian Stephen & Adam Curtis

Warkworth

4 units in stage 3 of the Grange, 67 Auckland Rd, development by Square & Main St Ltd (Adam Reynolds), stages 1 & 2 both fully sold
Agents: Matt Lee, Quinn Ngo, Jan Hutcheson & James Chan, and Paul Dixon on unit 14

Unit 5A, Cizzlin:
Features: 128.3m², 8-year lease
Rent: $65,000/year net + gst
Outcome: sold for $1.005 million at a 6.47% yield

Unit 13B, The Grange Bakery:
Features: 76.8m², 5-year lease
Rent: $30,000/year net + gst
Outcome: sold for $560,000 at a 5.34% yield

Unit 11, Fish Nets:
Features: 59m², 10-year lease
Rent: $30,975/year net + gst
Outcome: sold for $565,000 at a 5.48% yield

Updated: Unit 14, Green Bay Fruit & Veg:
Features: 297.2m², 8-year lease
Rent: $92,500/year net + gst
Outcome: passed in after vendor bid at $1.25 million, sold post-auction for $1.365 million at a 6.77% yield

Unit 22, Cross Gate Variety Store:
Features: 373.7m², 6-year lease
Rent: $86,700/year net + gst
Outcome: withdrawn from auction

North-west

Henderson

349 Great North Rd:
Features: 276m² site, 10-year lease from July
Rent: $50,000/year net + gst
Outcome: sold for $1.045 million at a 4.8% yield
Agents: Mike Adams & Laurie Bell

Lincoln North shopping centre, 192 Lincoln Rd, unit B4:
Features: 60.12m², retail unit, new 5-year lease to OPSM
Rent: $22,545/year net + gst
Outcome: sold for $465,000 at a 4.85% yield
Agents: Matt Lee & Quinn Ngo

South

East Tamaki

Updated: 12 Amera Place, unit 5:
Features: 105m² unit, 6-year lease starting this month
Rent: $50,150/year net + gst + outgoings
Outcome: passed in at $900,000, sold post-auction for $910,000 at a 5.5% yield
Agents: Katie Wu & John Bolton

9-11 Nandina Avenue:
Features: 2 titles, each of 2552m², metalled & flat, 74m road frontage, business 5 zoning
Outcome: sold for $2.86 million
Agents: John Bolton & Katie Wu

Howick

Updated: 8-14 Moore St:
Features: 875m² site zoned business town centre under unitary plan, 590m² floor area, 6 tenancies
Rent: $94,262.74
Outcome: passed in at $2.11 million, sold post-auction for $2.3 million at a 4.1% yield
Agents: Tony Chaudhary & Janak Darji

Manukau

Pacific Retail Centre, 792 Great South Rd, unit 6:
Features: 89m² Subway restaurant
Rent: $39,367.45/year net + gst + outgoings
Outcome: passed in at $750,000
Agents: Terry Kim & Janak Darji

52-58A St George St:
Features: 971m² in 2 titles zoned town centre under unitary plan, 2 tenants,
Rent: $80,040/year + gst
Outcome: no bid
Agents: Oscar Kuang & James Chan

Pukekohe

1722 & 1748 Buckland Rd:
Features: 14.4336ha in 2 titles overlooking Pukekohe racetrack, zoned future urban, proposed light industrial, has 3-bedroom house & 2-bedroom cottage
Outcome: no bid
Agents: Shane Snijder & Peter Migounoff

South of the Bombays

Coromandel

Whitianga

17 Monk St:
Features: 516m² site, 800m² floor area – 4 shops in 335m² on ground floor, plus carport, 2 apartments in 376m² upstairs licensed as traveller accommodation, plus 60m² deck & terrace; separate studio & workshop
Rent: about $53,000/year net
Outcome: sold for $1.03 million at a 5.15% yield
Agent: Noel Rogers

Hawke’s Bay

Napier

359 Marine Parade:
Features: 1413m² site, 20 self-contained motel units + manager’s accommodation
Rent: $225,750/year + gst from motel lease running until 2040
Outcome: sold for $3.75 million at a 6% yield
Agents: Paul Dixon & Sam MacDonald

Attribution: Auction.

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Updated: St Marys Bay townhouse among mix of auction sales

Published 10 November 2016, updated 13 November 2016:
A large St Marys Bay townhouse on a cross-lease (pictured) was sold among a mix of properties auctioned at Bayleys yesterday.

Other sales included a Dilworth apartment on Queen St, a Glen Eden unit, 2 Marina Park apartments (one pre-auction – and the update gives the price) & a canalside house with pontoon at Whitianga, and a Rosedale commercial building.

Apartments, townhouses & cross-leases

CBD

Queen St

Dilworth, 22 Queen St, unit 6B:
Features: 2-bedroom apartmen
Outgoings: rates $2624/year including gst; body corp levy $5864/year + gst, plus special maintenance levy $3466 + gst payable for period 1 October 2014-30 September 2020
Outcome: sold for $750,000
Agents: Diane Jackson & Julie Prince

Isthmus west

St Marys Bay

16 London St, flat 3:
Features: cross-lease, 1/5 share in 1336m², 4 levels, 3 bedrooms, 3 bathrooms, 2 living areas, terrace, balconies, double internal-access garage, 2 offstreet parking spaces, wine cellar, room available for gym or media room
Outcome: sold for $2.275 million
Agent: Chris Batchelor

North-west

Glen Eden

233 Glengarry Rd, unit 1:
Features: cross-lease, half share in 803m², 3 bedrooms
Outcome: sold for $516,000
Agents: Jock Kooger & Pawel Smuga

South of the Bombays – Coromandel

Whitianga

Marina Park Apartments, 84-86 Albert St, unit 1:
Features: 91m², 2-bedroom ground-floor apartment
Outgoings: body corp levy $2798/year
Outcome: sold at mortgagee auction for $290,000
Agents: Belinda Sammons & Kylie Pullen

Updated: Marina Park Apartments, 84-86 Albert St, unit 41:
Features: fully furnished 2-bedroom top-floor apartment, 2 parking spaces
Outcome: sold prior for $450,000
Agents: Kylie Pullen & Belinda Sammons

15 Aquila Drive:
Features: 808m² canal-front section, 4-bedroom house, 2 bathrooms, 27.74m frontage + 7.3m pontoon
Outcome: sold for $1.2 million
Agents: Bev Calder & Sheree Henderson

Commercial

North-east

Rosedale

57-59 Paul Matthews Rd, unit 2:
Features: 215m² floor area, no consent or code compliance certificate for warehouse mezzanine & workshop addition, Transport Specifications Ltd lease expires in March 2019
Outgoings: body corp levy $2258/year
Rent: $39,000/year + gst + outgoings
Outcome: sold for $720,000
Agents: James Kidd & Ashton Geissler

Rural

South of the Bombays – Coromandel

Coroglen

215 Rangihau Rd:
Features: 45.8ha farm, 3-bedroom house, 2 bathrooms, 159m² barn with carport & rumpus room
Outcome: passed in at $1 million
Agents: Belinda Sammons & Kylie Pullen

Attribution: Auction.

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Harbourview cross-lease & marina apartment sell

2 intensive residential properties – a cross-lease overlooking the Manukau Harbour and an apartment on the marina at Whitianga – were sold under the hammer at Bayleys’ auction on Wednesday.

Isthmus west

Hillsborough

4 Aldersgate Rd:
Features: cross-lease, half share in 1095m², 3 bedrooms, office, deck, garage & workshop
Outgoings: rates $2464/year including gst
Outcome: sold for $850,000
Agents: Victoria Turner & Cindy Ji

South of the Bombays

Whitianga

41 Marina Park, 84-86 Albert St:
Features: 91m², fully furnished 2-bedroom top-floor waterfront apartment, storage locker, 2 parking spaces
Outcome: sold for $450,000 at auction brought forward
Agents: Kylie Pullen & Belinda Sammons

Attribution: Auction.

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Second Bupa-leased property sells at auction

A Hamilton property leased to Bupa Care Services NZ Ltd (pictured above) sold at Bayleys’ auction in Hamilton on Thursday, following the sale of a Henderson property leased by the healthcare provider on Wednesday.

Both were marketed through a joint agency by Bayleys & CBRE. Also below, another 4 sales by Bayleys in the Coromandel & Waikato.

South of the Bombays

Coromandel

The Kopu site beside State Highway 25.

The Kopu site beside State Highway 25.

Thames

Kopu, 71 Kopu Rd:
Features: 1.44ha of industrial land beside State Highway 25, 2071m² of workshops & warehouse facilities, previously used as a trucking yard
Outcome: sold vacant to an owner-occupier for $1.825 million
Agent: Josh Smith

Waikato

Cambridge

187 Shakespeare St:
Features: 2044m² site, 1000m² industrial building in the heart of Leamington
Outcome: sold to an owner-occupier for $550,000
Agent: Blair Hutcheson

Hamilton

Glenview, 200 Ohaupo Rd (pictured at top):
Features: 3987m² site, former motel complex redeveloped in 2009 as a dedicated brain injury rehabilitation facility with a purpose-designed new residential care building also added; new 5-year lease to Bupa Care Services NZ Ltd, with one 5-year right of renewal Rent: $368,361/year net + gst with annual CPI rental increases
Outcome: sold at auction for $3.995 million
Agents: Andrew Shaw (Bayleys) & Andrew Stringer (CBRE)

Te Kowhai, 128 & 172 Limmer Rd:
Features: 34ha 17km north-west of Hamilton comprising grazing pasture & private airfield, 6 aircraft hangars & associated buildings plus BP refuelling facility
Outcome: sold for $2.6 million
Agents: Mike Swanson & Jason Kong

Port Waikato

Port Waikato Holiday Park, Maunsell Rd:  
Features: 5.9375ha property – 85 powered caravan sites, 63 tent sites, 9 cabins & 6 self-contained motel-style units, a 120m² 3-bedroom manager’s/owner’s house, separate management office, communal kitchen, laundry block & segregated shower block
Outcome: sold as freehold going concern for $2.5 million to Ngati Karewa & Ngati Tahinga Trust (ancestral owners of land)
Agents: Meredith Graham, Mike Peterson & Josh Smith

Attribution: Agency release.

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7 sub-5% sales at Bayleys commercial auction

Today’s Reserve Bank cut in the official cashrate was well & truly factored into commercial property prices yesterday at Bayleys’ Total Property auction as 6 fully leased properties sold at sub-5% yields. 3 more were sold at yields under 5.6%, and another at sub-5% was achieved at an auction brought forward.

11 of the 16 properties on the day’s auction list were sold under the hammer.

CBD

High St

3-7 High St, unit G1:
Features: 173m² retail unit on ground floor of 7-storey character building, new 3-year lease to fashion retailer Flo & Frankie from 1 October + 3 3-year rights of renewal
Rent: $150,000/year net + gst
Outcome: sold for $2.83 million at a 5.3% yield
Agents: Sarah Boles

Learning Quarter

The Waldorf Tetra, 85 Wakefield St.

The Waldorf Tetra, 85 Wakefield St.

Waldorf Tetra, 85 Wakefield St, units E & K:
Features: 15 serviced, fully furnished apartments plus additional space currently used as a common room, totalling 447m² on 2 titles on one floor, lease to Waldorf Group until February 2018 with no right of renewal
Rent: $152,104/year net + gst
Outcome: sold for $2.75 million at a 5.53% yield
Agents: Quinn Ngo, James Chan & Matt Lee

Queen St

115 Queen St, unit C:
Features: 210m² ground-floor retail unit fronting pedestrian lane at foot of Swanson St, for sale with vacant possession
Rent: had holding income of $104,000/year + gst until end of August
Outcome: no bid
Agents: Quinn Ngo & Owen Ding

Isthmus east

Onehunga

6 Newsome St, Onehunga.

6 Newsome St, Onehunga.

6 Newsome St:
Features: 477m² site, 336m² building in Onehunga industrial precinct, recently renewed 4-year lease to Petty Dies & Laser Cutting Ltd, which also occupies interconnected neighbouring property
Rent: $33,000/year net + gst
Outcome: sold for $810,000 at a 4.07% yield
Agents: James Valintine & Greg Hall

93 Selwyn St:
Features: 959m² site (improvements not included) zoned terrace housing & apartment building under proposed unitary plan, holding income from lease to community trust childcare centre until February 2018, with 6-month cancellation clause
Rent: $12,000/year net + gst
Outcome: sold for $1.7 million
Agents: Paul Dixon & Tony Chaudhary

Panmure

24 Queens Rd:
Features: 175m² site in retail strip, town centre zoning under proposed unitary plan, 223m² building, pizza outlet on ground floor & law firm above
Rent: $33,000/year net + gst
Outcome: passed in at $510,000
Agents: Simon Aldridge & Oscar Kuang

Isthmus west

Mt Eden

471 Mt Eden Rd (pictured at top):
Features: 273m² business 1 corner site going to mixed use under proposed unitary plan, 113.5m² retail premises with short-term tenancy, 6 parking spaces
Rent: $87,821.50/year net + gst holding income
Outcome: sold for $1.885 million at a 4.66% yield
Agents: Phil Haydock & Tony Chaudhary

Newton

3 Abbey St, Newton, sold at a 4.31% yield.

3 Abbey St, Newton, sold at a 4.31% yield.

3 Abbey St:
Features: 607m² mixed-use site on corner of Gundry St, 2-level building occupied by Art + Object for 9 years, final 3-year right of renewal from September exercised
Rent: $152,000/year net + gst + outgoings
Outcome: sold for $3.525 million at a 4.31% yield
Agents: Dave Stanley, Alan Haydock & Tony Chaudhary

North-east

Rosedale

42 Constellation Drive:
Features: 121m² ground-floor premises in commercial complex, leased to 3A Copies & Design Ltd
Rent: $30,000/year net + gst
Outcome: sold for $560,000 at a 5.36% yield
Agents: Own Ding, James Chan & Eddie Zhong

9 Orbit Drive, Rosedale, sold at a 4.47% yield.

9 Orbit Drive, Rosedale, sold at a 4.47% yield.

9 Orbit Drive, unit 1:
Features: 664m² roadfront office & warehouse unit, 10 parking spaces, new 6-year lease to Advanced Lighting Technologies (NZ) Ltd
Rent: $95,000/year net + gst, increasing to $110,000/year in 2017
Outcome: sold for $2.125 million at a 4.47% yield
Agents: Matt Mimmack & Ashton Geissler

9 Parkhead Place, unit B:
Features: 246.5m² industrial unit – high stud warehouse 208.5m², office & amenities 38m²
Rent: $29,000/year net + gst, leased until March 2017
Outcome: sold for $655,000 at a 4.43% yield
Agents: Matt Mimmack & James Kidd

Wairau Valley

15 Kaimahi Rd:
Features: 1011m² industrial site – 404m² yard, 521m² warehouse, established tenant Geovert Ltd has renewed for 5 years from 1 August
Rent: $64,752/year net + gst
Outcome: sold for $1.369 million at 4.73% yield
Agent: Matt Mimmack

North-west

Henderson

260 Swanson Rd, unit E:
Features: 100m² retail unit, established tenant Ezycash on renewed 4-year lease + 3 further terms of 4 years
Rent: $30,000/year net + gst
Outcome: passed in at $610,000
Agents: Mark Pittaway

New Lynn

80 Delta Avenue:
Features: 1142m² site, 1469m² 2-level warehouse & office building, part-tenanted, vendor occupying the balance
Rent: $54,050/year net + gst
Outcome: sold for $1.7 million
Agents: Grant Miller, Laurie Bell & Mike Adams

2-6 Todd Plaza:
Features: 377m² town centre site, 313m² single-level character building fully leased to 3 tenants – Thai restaurant, Glover Real Estate & dairy
Rent: $105,420/year + gst + outgoings
Outcome: sold for $2.11 million at a 4.99% yield, auction brought forward with declared reserve of $1.975 million
Agents: Tony Chaudhary, Amy Weng & Mike Adams

South

Highland Park

20-22 Dunrobin Place, unit 7:
Features: 180m² unit, 8-year lease to Flow Academy of Motion from June 2014, has had seismic upgrade to A+
Rent: $54,000/year net + gst
Outcome: passed in at $880,000
Agents: Eddie Zhong & Ranjan Unka

Papakura

61-63 O’Shannessey St:
Features: 500m² site in 2 titles, refurbished 957m² building, Veolia Water NZ Ltd head office
Rent: $149,062/year net + gst
Outcome: no bid
Agents: Graeme Moore

South of Bombays – Coromandel

Hahei

404 Lees Rd:
Features: 21ha of waterfront land, full coastal access
Outcome: withdrawn from auction
Agents: John Greenwood & Belinda Sammons

Attribution: Auction.

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Forte & Galleries apartments sell, beach sites passed in

2 city apartments in Forte & the Galleries (pictured) were sold under the hammer at Bayleys’ auction today, along with a Kumeu lifestyle block and a Wiri warehouse.

A Mt Eden factory turned apartment and 2 beach settlement properties – a Waihi Beach site with consent for 8 apartments and 14.5ha near Hot Water Beach – were passed in.

CBD

Learning Quarter

Forte, 37 Symonds St, unit 202:
Features: 2 bedrooms, east-facing corner unit, deck
Outgoings: rates $1249/year including gst; body corp levy $3473/year
Outcome: sold for $405,000
Agents: Dave Hamlyn & Marcus Fava

Victoria Quarter

The Galleries, 23 Graham St, unit 16:
Features: 147m², 3 bedrooms, 2 bathrooms, study nook, balcony, 2 side-by-side parking spaces
Outgoings: rates $2717/year including gst; body corp levy $9974/year
Outcome: sold for $1.32 million
Agent: Amy Hain

Isthmus west

Mt Eden

2A Carmen Avenue:
Features: ex-sandal factory turned apartment, 4 bedrooms, 3 bathrooms, nursery, study nook, deck, property offered ‘as is’
Outcome: passed in at $1.45 million
Agents: Stewart Morgan & Paul Sissons

North-west

Kumeu

171 Awa Rd:
Features: 4.057ha lifestyle property, 5-bedroom house + minor dwelling
Outcome: sold for $1.6 million
Agent: Bridget Dickson

South

Wiri

5 Mana Place:
Features: 2024m² site, 1251m² building – warehouse 1000m², office 194m², mezzanine 64m², 4 rights of lease renewal through to 2025
Rent: $90,000/year net + gst + opex
Outcome: sold for $1.88 million
Agents: James Hill & Sunil Bhana

South of the Bombays

Bay of Plenty

Waihi Beach, 9 Beach Rd:
Features: 822m² residentially zoned lifestyle section, used as a private holiday park, consented for 8 upmarket apartments, opposite north end beachfront reserve
Outcome: no bid
Agents: Brendon & Lynn Bradley

Coromandel

Hot Water Beach, 1 Orua Lane:
Features: 14.5ha + 3-bedroom house, garage, carport, hay barn
Outcome: passed in at $740,000
Agents: Belinda Sammons & Glenn Tanner

The 14.5ha site at Hot Water Beach.

The 14.5ha site at Hot Water Beach.

Attribution: Auction.

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4 Coromandel commercial sales

Bayleys agents have made 4 sales of commercial properties around the Coromandel – at Kopu, Thames & Whitianga.

South of the Bombays – Coromandel

Kopu

27 Kopu Rd: 
Features: 14,181m² of industrial land with 5 large steel framed buildings totalling 1316m², fully occupied by a national brand automotive recycling business for 35 years
Outcome: sold for $1.02 million at a 7.6% yield
Agent: Josh Smith

Thames

307-309 Pollen St:
Features: 888m2 site, 750m2 2-level retail & office building, 3 tenancies on 3- to 5-year leases
Outcome: sold for $1.06 million at an 8.3% yield
Agent: Tony Chaudhary

Whitianga

9 Joan Gaskell Avenue:
Features: 26,180m2 Gateway zone site on main access road into Whitianga, next to New World supermarket and near a number of other large bulk retailers such as The Warehouse & Placemakers
Outcome: sold for $1.3 million at $49.65/m2
Agents: Paul Dixon & Mike Adams

1 Moewai Rd:
Features: 70m² showroom/office, 1200m² yard on State Highway 25 corner site
Outcome: sold vacant for $380,000
Agent: Josh Smith

Attribution: Agency release.

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11 commercial sales at Bayleys southern auctions

Bayleys concluded 11 sales under the hammer at its auctions south of Auckland on Thursday, including 7 around the Wellington region.

South of the Bombays

Bay of Plenty

Tauranga

144 Third Avenue, unit 3:
Features: 3-level 182m2 office unit in Third Cove office park overlooking harbour; new 5-year lease to architectural firm, 4 parking spaces
Rent: $48,000/year net + gst
Outcome: sold for $700,000 at a 6.85% yield
Agents: Brendon & Lynn Bradley

Coromandel

Whitianga

13 Buffalo Beach Rd:
Features: 809m2 beachfront site, 5-unit Marlin Apartments operated as motel-style business, with 2-bedroom owner’s apartment at rear
Outcome: sold for $1 million
Agents: Josh Smith & Mary Walker

Hawke’s Bay

Hastings

729 Heretaunga St West, Hastings.

729 Heretaunga St West, Hastings.

729 Heretaunga St West:
Features: 1268m2 corner site, 620m2 office building, 4 tenants, 16 parking spaces
Rent: $92,881/year net + gst
Outcome: sold for $1 million at a 9.3% yield
Agent: Paul Garland

Waikato

Tokoroa

47 Chambers St:
Features: 883m2 industrial building, 1702m2 site, 2 tenancies
Rent: $48,000/year net + gst
Outcome: sold for $500,000 at a 9% yield
Agents: Brendon & Lynn Bradley

Wellington

Lower Hutt

23-25 Brunswick St:
Features: 2330m2 site, 1246mindustrial building; 2 tenants, VTNZ & GRC Automotive, on 6-year leases from 2014; VTNZ has occupied site for 10 years
Rent: $173,131/year net + gst
Outcome: sold for $2.38 million at a 7.3% yield
Agents: Grant Young & Mark Hourigan

3 Marsden St:
Features: 1189m2 site, single-level 481mcommercial/industrial building constructed about 1990, 4 separate tenancies, 11 parking spaces
Rent: $81,250/year gross + gst
Outcome: sold for $675,000 at a 9.3% yield
Agents: Richard Faisandier & John Pritchard

Alicetown, 15 Wakefield St:
Features: 792m2 industrial building – 765m2 high stud warehouse & 27m2 office/amenities, 4½-year lease from August 2013
Rent: $65,000/year net + gst
Outcome: sold for $406,000 at a 14.5% yield
Agents: Paul Cudby & Matt Gibbs

Alicetown, 17 Wakefield St:
Features: 450m2 industrial building – 390m2 warehouse, 60m2 office, 320m2 yard
Outcome: sold vacant for $372,000
Agents: Paul Cudby & Matt Gibbs

Petone, 56 Fitzherbert St:
Features: 465m2 site, 508m2 industrial building – 300m2 warehouse, 200m2 office, 5 parking spaces
Outcome: sold vacant for $610,000
Agents: John Pritchard & Fraser Press

Waterloo, 3 Trafalgar Square (pictured at top):
Features: 1533m2 site, 660m2 building, seismic assessment 96% of new building standard, 8 50m2 retail units & 4 65m2 residential units, 9 garages; 7 commercial & 4 residential tenants
Rent: $125,000/year net + gst
Outcome: sold for $1.625 million at a 7.7% yield
Agent: Colin Hodge

Porirua

Whitby, 51A Spinnaker Drive:
Features: 972m2 site, 100m2 convenience store, 60m2 one-bedroom flat, leased to convenience store for 4 years from April 2015
Rent: $29,097/year net + gst
Outcome: sold for $340,000 at an 8.2% yield
Agent: Jon Pottinger

Attribution: Agency release.

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