Archive | Manukau Central

12 sell at Bayleys’ Total Property auction

Bayleys sold 11 properties under the hammer yesterday of the 15 offered in its first Total Property commercial portfolio for the year. Another property was sold last Friday in an auction brought forward.

Yields were variable – down at 3.1% on one property which might reflect development potential more than the present return, 3.6% on a Plumbing World tenancy in New Lynn, 4.4% on a Manukau butcher’s shop, 5.25% on a Party Hire warehouse in East Tamki, 5.4% & 4.9% on 2 retail outlets in the new Dylan apartment building on Great North Rd (pictured above), 6.1% on a Rosedale gym. And, out of town, 7.6% on a long-term NZ Post lease in Whanganui.

CBD

Queen St

Mid-City, 239 Queen St, unit 1A:
Features: 39m² fast-food outlet fronting Queen St
Rent: $150,657.30/year net + gst from renewed 12-year lease to Avachi Fried Chicken
Outcome: auction postponed to Total Property 2, Wednesday 12 April
Agents: Quinn Ngo & James Chan

Uptown

117 Vincent St:
Features: 364m² site, total building area 736m² on 3 levels, each of 245.6m²; 12 parking spaces on ground floor, 2 office floors above
Rent: vacant
Outcome: passed in at $3.5 million
Agents: Nigel McNeill & Ben Bayley

Isthmus east

Onehunga

137 Onehunga Mall:
Features: 185m² site, 213m² 2-storey building
Outcome: sold for $900,000, including the bar & gaming business in it
Agents: Oscar Kuang & James Chan

Parnell

465-467 Parnell Rd:
Features: 612m² site zoned terrace housing & apartment building, 422m² villa, onsite parking, opportunity to own/occupy after April 2018
Rent: fully lease returning $119,113/year + gst
Outcome: sold for $3.525 million
Agents: Cameron Melhuish & Jenny Kek

Isthmus west

Blockhouse Bay

The Blockhouse Bay property sold on 3.1% yield at auction brought forward.

575 Blockhouse Bay Rd:
Features: 610m² corner site zoned business – local centre, dual-access rear parking
Rent: $55,687.93/year net from convenience store & attached accommodation and 2-level gym
Outcome: sold at pre-auction; declared reserve was $1.4 million, sold for $1.8 million at a 3.1% yield
Agents: Alan Haydock & Damien Bullick

Grey Lynn

The Dylan, 367-375 Great North Rd, principal unit 1:
Features: 128m² freehold retail unit on ground floor of new apartment development, 2 parking spaces, occupied by Love Bites Kitchen
Rent: $68,000/year net + gst from 6-year lease started November 2016, 2 4-year rights of renewal, 3%/year increases, to market on renewal
Outcome: sold for $1.27 million at a 5.4% yield
Agents: Damien Bullick & Alan Haydock

The Dylan, 367-375 Great North Rd, principal unit 2:
Features: 49m² freehold retail unit on ground floor of new apartment development, no parking, occupied by Arch Hill Laundromat
Rent: $30,000/year net + gst on 8-year lease from October 2016
Outcome: sold for $611,000 at a 4.9% yield
Agents: Damien Bullick & Alan Haydock

Newton

10 South St:
Features: 357m² site, 318m² standalone building,
Rent: $126,000/year net + gst, new 10-year lease to main tenant + income from billboards & 2-bedroom flat
Outcome: withdrawn from auction
Agents: Oscar Kuang & Nicolas Ching

North-east

Rosedale

32 Constellation Drive, unit 5:
Features: 385m² unit in retail centre, fully leased to Snap Fitness, 30 parking spaces in common area
Rent: $157,497/year net + gst, 8-year lease from 2013 + 2 8-year terms
Outcome: sold for $2.585 million at a 6.1% yield
Agents: Ranjan Unka & Anna Radkevich

11-13A Paul Matthews Rd:
Features: 517.7m² roadfront industrial unit, clearspan high stud warehouse, 8 parking spaces
Outcome: sold vacant for $1.55 million
Agent: Matt Mimmack

Wairau Valley

7 Porana Rd, unit A:
Features: 109.7m² vacant industrial unit, 2 parking spaces, multiple rollerdoor access
Outcome: sold for $476,000
Agent: Matt Mimmack

North-west

Henderson

Lincoln Centre, 111 Lincoln Rd, unit B:
Features: 1113m² building, occupied by Accident Compensation Corp since 2000, onsite parking
Rent: $287,000/year gross + gst, 3-year lease from March 2017 + 3-year right of renewal
Outcome: no bid
Agents: Nicolas Ching & James Chan

New Lynn

48 Portage Rd:
Features: 1012m² site + 1/10 share in 585m², 4-year lease to Plumbing World Ltd from October 2016 with rights of renewal
Rent: $62,250/year + gst, 4-year lease from 1 October 2016 with right of renewal
Outcome: sold for $1.73 million at a 3.6% yield
Agents: Mike Adams & Laurie Bell

South

Clover Park

112 Dawson Rd, unit O (shop 14) in Chapel Downs shopping centre:
Features: 230m² butchery, 2 parking spaces
Rent: $62,000/year net + gst + outgoings on 4-year lease from April 2016, rights of renewal to 2028
Outcome: sold for $1.42 million at a 4.4% yield
Agents: Dave Stanley & Geoff Wyatt

East Tamaki

179C Harris Rd, corner Ti Rakau Drive:
Features: 270m² strata title, showroom, warehouse & office occupied by Party Hire, 6 parking spaces
Rent: $46,000/year net + gst + outgoings, established tenant with renewed 4-year lease term
Outcome: sold for $875,000 at a 5.25% yield
Agents: Tony Chaudhary & Janak Darji

Manukau Central

5C Jack Conway Avenue:
Features: 471m² corner unit title – 230m² ground floor, 241m² first floor, onsite parking
Rent: $130,000/year net + gst + outgoings from 2 tenants on long-term leases
Outcome: no bid
Agents: Rod Grieve & Maxene Bates

South of the Bombays

Napier

88-94 Dickens St:
Features: 911m² site, 3 ground-floor tenants, option to develop upstairs
Rent: $78,855/year net + gst
Outcome: no bid
Agents: Paul Dixon & Sam MacDonald

Whanganui

115 Victoria Avenue:
Features: 916m² site, 403m² floor area, 10 parking spaces
Rent: $206,268 from long lease to NZ Post Ltd
Outcome: sold for $2.73 million at a 7.6% yield
Agents: Cameron Melhuish & Ed Donald

Attribution: Auction.

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5 South Auckland buildings sold

4 industrial properties & a commercial building occupied by healthcare tenants have been sold over the summer by Bayleys agents in South Auckland.

South

East Tamaki

22K Greenmount Drive:
Features: 395m2 industrial building – 285m2 warehouse, 65m2 office & amenities, 45m2 unconsented mezzanine, 7 parking spaces, dual road access
Outcome: sold vacant for $846,000
Agent: Mike Marinkovich

Manukau Central

7 Ryan Place, unit D:
Features: 240m2 industrial unit, 3-year lease to auto tenant from April 2015 plus 2 3-year rights of renewal
Rent: $30,000/year net + gst
Outcome: sold for $485,000 at 6.2% yield
Agents: Nick Bayley, Karl Price & Nelson Raines

Papakura

14-16 Parker St:
Features: abandoned development project, 2.875ha of vacant industrial land in 2 titles, dual road access; over $1.7 million has been spent on preconstruction siteworks, geotech report & plans for a 3000m2 building also undertaken
Outcome: sold for $4.56 million at $158.60/m2
Agents: Shane Snijder & Peter Migounoff

Papatoetoe

230 Great South Rd
Features: 1533m2 site – 1019m2 commercial building leased to 2 healthcare service providers until 2020
Rent: $210,000/year net + gst
Outcome: sold for $3.45 million at a 6.1% yield
Agents: Tony Chaudhary, Amy Weng & Janak Darji

Wiri

55 Ash Rd, unit 1: 548m2 warehouse & office unit, one tenant has occupied it since it was built in 2003
Rent: $65,000/year net + gst
Outcome: sold for $1.27 million at a 5.11% yield
Agent: Nick Bayley & Karl Price

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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5 apartments sell at Bayleys auctions

5 apartments & townhouses were sold out of 7 auctioned by Bayleys this week at its One Tree Hill, Remuera & Takapuna rooms. A Manukau warehouse unit was passed in.

The sales were at the Kilbryde apartments on Gladstone Rd (unit arrowed) and another in St Georges Bay Rd, both in Parnell, a Remuera apartment and 2 in Devonport.

Apartments

Isthmus east

Parnell

Kilbryde, 104 Gladstone Rd, unit 3A:
Features: 2-bedroom apartment, 2 bathrooms, study, 2 parking spaces
Outcome: sold for $2.046 million
Agent: Fleur Denning

106A Gladstone Rd:
Features: nearly 400m², 4-bedroom townhouse, 4 bathrooms, 3 living areas, exclusive garden, private lift, basement storage, 2 parking spaces
Outcome: passed in
Agent: Fleur Denning

9 St Georges Bay Rd, unit 2D:
Features: 2-bedroom apartment, 2 bathrooms, study, central air-conditioning, heated floors, 2 basement parking spaces, 2 storage units
Outgoings: rates $3833/year including gst
Outcome: sold for $2.05 million
Agent: Blair Haddow

Remuera

167 Portland Rd, unit 3:
Features: 2-bedroom ground-floor unit, terrace, 2 parking spaces
Outcome: passed in, back on market at $719,000
Agent: Alan Elliott

261 Remuera Rd, unit 6:
Features: 142m², 3-bedroom apartment, 2 bathrooms, deck, carport, storage unit
Outcome: sold for $1.25 million
Agent: Larry Sewell

North-east

Devonport

7B Old Lake Rd:
Features: 2-bedroom townhouse opposite Narrow Neck Beach, third bedroom or rumpus, 2 bathrooms, 2 parking spaces
Outcome: sold for $1.225 million
Agent: Lynda Betts

Devon Park, 45 Stanley Point Rd, apartment 1003:
Features: 2-bedroom apartment, 2 bathrooms, deck, parking space
Outcome: sold for $1.301 million
Agent: Prue de Bie

Commercial

South

Manukau Central

13 Ryan Place, unit C:
Features: 201m² industrial unit with shower, toilet & kitchen – high stud warehouse 79m², lunch room/amenities 26m², ground floor low stud 35m², 3 rooms on first floor 61m²; 3 parking spaces
Outcome: passed in
Agent: Mike Marinkovich

Attribution: Agency release.

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Updated & corrected: 3 of 5 properties at Barfoot commercial auction now sold

Published & corrected 26 August 2016, updated 29 & 31 August 2016:

3 of the 5 properties offered at Barfoot & Thompson Commercial’s auction last Thursday have now sold.

A small Rosedale commercial unit sold under the hammer, and buildings in Albany & Manukau have since sold.

North-east

Albany

Updated: 20F Gills Rd:
Features: vacant 455.4m² building – warehouse 284m², office 57m², mezzanine 97m², storage 19m², 6 parking spaces
Outcome: passed in at $850,000, sold post-auction for $855,000
Agents: Chase Erceg & Matt Kirkbride

8 Henry Rose Place, unit C6:
Features: 150m², low stud warehouse, first-floor offices
Outcome: no bid
Agents: Elaine Tutty & David Cannon

Rosedale

18 Airborne Rd, unit 8:
Features: 160m² live/work unit, low stud warehouse, office, 2-bedroom studio
Outcome: no bid
Agents: Elaine Tutty & Aaron Smith

Correction: 40 Arrenway Drive, unit 4:
Features: 125m², 3 parking spaces
Rent: $29,840/year + opex + gst, lease just renewed
Outcome: sold for $520,000
Agents: David Goodhue

Wairau Valley

20 Link Drive, unit I:
Features: 451m² restaurant, 5 accessory units, 8 parking spaces
Rent: $132,000/year + gst
Outcome: auction postponed until 29 September
Agents: Bruce Jiao & Gary Seekup

South

Manukau

Updated: 5C Jack Conway Drive:
Features: 470m² building – sports bar in ground floor 229.6m², offices in first floor 241m²
Rent: $96,000/year net
Outcome: passed in at $1 million, sold post-auction for $1.55 million at a 6.2% yield
Agents: Chris Peterson & David Sylvester

Attribution: Auction.

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North Harbour & Manukau warehouses sell

Both commercial properties auctioned at Colliers on Wednesday sold under the hammer.

North-east

North Harbour Industrial Estate

8G Piermark Drive (pictured):
Features: 398m² warehouse with office & amenities on 2 levels, 7 parking spaces, Two Degrees Mobile Ltd renewed its lease for 5 years from 8 May
Rent: $57,416/year net
Outcome: sold for $1.175 million at a 4.89% yield
Agents: Matt Prentice & Jimmy O’Brien

South

Manukau Central

8 Grayson Avenue:
Features: 1012m² site, 779m² building – warehouse 683m², office 96m²
Outcome: sold vacant for $1.51 million
Agents: Ash Vincent, Jolyon Thomson & Gavin Bakshi

Attribution: Auction documents.

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Marsden B land among Colliers sales

The 45ha site of the former Marsden B power station at Ruakaka in Northland has been sold for $8.5 million.

The 250MW oil-fired power station, overlooking the beach at Ruakaka near the Marsden Point oil refinery, was mothballed in 1978 without being commissioned and eventually became the property of Mighty River Power Ltd. The plant was sold in 2012 to United Telecoms Ltd of Bangalore, India, dismantled & shipped to India. The Marsden A power station, also oil-fired, was largely dismantled in 1997-98 and the job finished in 2012.

Another 83ha at Marsden Point was acquired about 10 years ago by Oliver Scott through various companies & trusts in his North Holdings group, but Westpac NZ Ltd put those companies into receivership in May 2015, with total debt to the bank of $56.8 million.

The power station site is one of 3 sales reported by Colliers agents this week (and, for Marsden B, NAI Harcourts). Another is a Lovegrove Crescent warehouse in Otara, sold 8 months after being passed in at auction, and the third is a showroom on Cavendish Drive, Manukau.

North

Ruakaka

Sime Rd:
Features: 45ha bare land, former Marsden B power station site
Outcome: sold for $8.5 million
Agents: Tim Lichtenstein & Alan McMahon (Colliers) & Peter Peeters (NAI Harcourts)

South

Manukau Central

39C Cavendish Drive:
Features: 430m² showroom
Outcome: sold for $960,000
Agents: Ash Vincent & Jolyon Thomson

Otara

15 Lovegrove Crescent, unit 5:
Features: 2253m² site, 1479m² office & warehouse net lettable area
Rent: $107,500/year net (at auction date)
Outcome: sold for $1.2 million after being passed in at auction last October at $850,000, followed by vendor indicator “bids” of $1 million & $1.07 million
Agents: Jolyon Thomson, Ben Cockram & Jonathan Lynch

Attribution: Agency release, Companies Office, files.

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3 sales & 4 leases for Bayleys Shore agents

Bayleys North Shore agents have completed 3 sales & 4 leases, including one sale of a retail building in Manukau.

Sales

North-east

Rosedale

43 Omega St, unit GC:
Features: 195m² office unit in industrial 7C zone, 6 parking spaces
Outcome: sold in April for $585,000 + gst at $3000/m² land & building
Agents: Ryan Dannhauser & Alex Strever

7 Triton Drive, unit F:
Features: 180m² retail unit – retail 120 m², warehouse 30 m², other 30 m², 3 parking spaces
Outcome: sold for $965,000 + gst at $5361.11/m² land & building
Agents: Adam Curtis & Rosemary Wakeman

South

Manukau

225 Burswood Drive:
Features: 1878 m² site, 729m² retail building – retail 671m², office 58 m², 34 parking spaces
Outcome: sold in April for $2.98 million + gst at $4088/m² land & building
Agent: Terry Kim

Leases

North-east

Mairangi Bay

63 Apollo Drive, unit C4:
Features: 168m² office, 4 parking spaces
Rent: leased in May for $35,840/year net + gst, parking at $20/space/week, premises rental $213/m²
Agents: Alex Strever & Michael Nees

Rosedale

Rosedale Rd Centre, 96 Rosedale Rd, unit 18:
Features: 101m² retail unit
Rent: leased in April for $51,000/year net + gst, premises rental $500/m²
Agents: James Yu & Terry Kim

Takapuna

437 Lake Rd:
Features: 88m² office, 5 parking spaces
Rent: leased in May for $32,500/year net + gst, parking $25/space/week, premises rental $26,000 at $295/m²
Agents: Dean Gilbert-Smith & Ashton Geissler

Wairau Valley

17 Ashfield Rd, unit 5:
Features: 145m² industrial unit – warehouse 100m², office 45m², 2 parking spaces
Rent: leased in May for $15,600/year net + gst, premises rental $107.58/m²
Agent: Trevor Duffin

Attribution: Agency release.

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6 commercial sales around Manukau

Bayleys agents have completed 6 commercial sales in Clendon, Manukau Central & Wiri.

South

Clendon

421 Roscommon Rd, unit A:
Features: 1340m2 retail building
Outcome: sold vacant for $1.995 million
Agent: Tony Chaudhary

429 Roscommon Rd:
Features: 2100m2 business 5 site, 540m2 warehouse
Outcome: sold vacant for $2.025 million
Agents: Tony Chaudhary, Janak Darji & Amy Weng

Manukau Central

78B Grayson Avenue:
Features: 205m2 industrial building – 194m2 warehouse, 25m2 office, 2 parking spaces
Outcome: sold vacant for $405,000
Agent: Mike Marinkovich

12 Lambie Drive (pictured):
Features: Underdeveloped 7218m2 business 5-zoned site, 5255m2 2-level building with mix of office & warehouse, fully leased to 11 tenants, 92 parking spaces
Rent: $588,100/year net + gst
Outcome: sold for $7 million at an 8.4% yield
Agent: Alan Haydock

Wiri

1 Hautu Drive, unit 5:
Features: 471m2 industrial building – 294m2 warehouse, 97m2 office, 80m2 showroom
Outcome: sold vacant for $1.150 million
Agents: Nick Bayley & Marty Roestenburg

6A & B Earl Richardson Avenue:
Features: 2 small industrial units – 240m2 road-front unit & 180m2 unit, 9 parking spaces
Outcome: sold vacant for $850,000
Agent: Mike Marinkovich

Attribution: Agency release.

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3 industrial properties sell at Barfoots auction

2 industrial properties were sold under the hammer at Barfoot & Thompson’s commercial auction yesterday, one an upgrade section in Penrose (pictured) and the other a warehouse & showroom on Lambie Drive, Manukau. Another was sold post-auction and 2 were passed in.

In addition, a Grey Lynn property zoned mixed use has also been sold.

CBD

Queen St

155 Queen St, unit 1A:
Features: 802m², commercial unit on one title, 3 retail & hospitality tenants, including PostShop on 9-year lease with 2 rights of renewal, 38m² lobby
Rent: $406,310/year net
Outcome: no bid
Agents: Rohan Cooke & Dickie Nam

Isthmus east

Penrose

367 Church St:
Features: 816m² site, vacant standalone industrial property, 590m² floor area, medium-stud warehouse/workshop & mezzanine office, parking
Outcome: sold for $1.1 million + gst
Agents: Brennan Wyllie & James Marshall

Isthmus west

Grey Lynn

12 Nixon St:
Features: 531m² section in mixed-use zone, 589m² building, vacant 31 July
Outcome: sold for $2.15 million
Agent: Cam Paterson

North-east

Albany

15E Mercari Way:
Features: retail unit with new 6+6-year lease
Rent: $52,000/year net, yearly reviews to higher of CPI + 2% or market
Outcome: passed in at $800,000 + gst
Agent: Nick Brown

South

East Tamaki

8 Andromeda Crescent:
Features: 2312m² section, 1174m² warehouse, 5.9m stud at the knee, rear loading & front cart dock, 402m² offices, entrance & amenities
Outcome: passed in at $2.01 million + gst, sold post-auction for $2.175 million + gst
Agent: Paul Vermaak

Manukau central

28E Lambie Drive:
Features: 567m² industrial unit – 440m² warehouse & showroom, 127m² first-level office, 2 leases with 2 years & one year remaining
Outcome: sold for $1.04 million
Agents: David Mayson & Jesh Jaskiewicz

Attribution: Auction.

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