Archive | Manurewa

11 intensive residential properties sell at Barfoot auctions

31 intensive properties were auctioned at Barfoot & Thompson’s city office over Tuesday-Wednesday, excluding the Thursday commercial & apartments-only session (see separate report), and 11 of them have been sold.

7 were sold under the hammer, one prior and 3 post-auction.

The 31 properties on offer included one cbd apartment, 20 on cross-leases and 6 offering development prospects.

The results from those sessions are listed below in their geographic areas and then by suburb.

At the Thursday commercial & apartments auction, 2 of the 4 apartments on offer were sold under the hammer, another listed for that auction session was sold earlier, and a commercial site with residential development consent was passed in but expected to sell under the multi-offer process today.

The agency returned to simultaneous auctions in 2 rooms for the Wednesday sessions, a rarity as the market has slowed, and put a total 96 properties up for sale, including standalone suburban homes (excluding the Thursday apartments session), and sold 34 under the hammer & 5 post-auction. Another 9 were sold prior. 30 didn’t attract a bid, but some of those were sold shortly after the auction.

The constant question is: “What’s happening to the market?” There isn’t one answer. Apartments differ from suburban properties, cross-leasing doesn’t seem to worry too many, vendors are learning to take less of the windfall that was available until a few months ago and snipping their reserves under pressure.

CBD

Uptown

City Lights, 16 Liverpool St, unit 2D:
Features: 90m², 2-bedroom apartment, conservatory, balcony, parking space
Outgoings: body corp levy $5335/year
Outcome: withdrawn from auction, back on market at $660,000
Agents: Michele Ballinger & Jean-Marc D’Anglejan

Isthmus east

Ellerslie

172A Main Highway, unit 2:
Features: cross-lease, 1/4 share in 1158m², 2-bedroom unit, courtyard, carport
Outcome: sold for $680,000
Agents: Anna Stephens-Brown & Susan Palmer

25 Wilkinson Rd, unit 1:
Features: cross-lease, 2-bedroom unit, carport
Outcome: passed in
Agents: Michael & Tatyana Ataman

Epsom

59 Empire Rd:
Features: cross-lease, half share in 1244m², 4 bedrooms & one-bedroom granny flat
Outcome: no bid
Agents: Diana Buczkowski & Peter West

155 Gillies Avenue, unit 2:
Features: cross-lease, 1/6 share in 1055m², 2 bedrooms, balcony
Outcome: sold for $903,000
Agents: George Fong & Laura McAuley

511A Manukau Rd:
Features: freestanding 3-level 4-bedroom townhouse, 3 bathrooms, double internal-access garage
Outcome: passed in
Agents: Nicole Hou & Joy Chen

24 Wilding Avenue:
Features: 1075m², 3 bedrooms, double garage & workshop, zoned mixed housing urban under unitary plan
Outcome: sold prior for $3.98 million
Agents: Frances Li & Ian Thornhill

Meadowbank

59 & 63 Ripon Crescent:
Features: 2 large houses on total 2542m² (1416m² & 1126m²), zoned residential 6a (375m²/site) but zoned mixed housing suburban under the proposed unitary plan, promoted for development
Outcome: no bid for the 2 properties as a package, or singly
Agents: Brett Innes & Amy Wilson-Chan

Mt Wellington

63A Commisariat Rd:
Features: cross-lease, half share in 862m², 3 bedrooms, carport
Outcome: no bid
Agents: Lars Kuo & Lillian Wen

192 Penrose Rd:
Features: 1396m² site zoned mixed housing suburban under unitary plan, 2 houses
Outcome: no bid
Agent: Joan Xu

Panmure

10 Dunn Rd:
Features: 1038m² corner site, 2 houses, resource consent granted for 6 terrace houses, second option under unitary plan terrace housing & apartment buildings zoning allows for buildings overs 3 storeys, subject to council approval
Outcome: no bid
Agents: Neno & Silvana Radinovich

44 Pilkington Rd, unit 9:
Features: cross-lease, 1/10 share in 2067m², 2-bedroom unit, basement storage
Outcome: passed in
Agents: Lillian Bai & Craig Smith

Remuera

68 Remuera Rd, unit 11:
Features: 3-bedroom terrace, 2 bathrooms, garage, reclad in 2011 & new code compliance certificate issued
Outgoings: body corp levy $4052/year
Outcome: no bid
Agents: Frances Li & Ian Thornhill

26 Rotomahana Terrace:
Features: cross-lease, 1/3 share in 1014m², 3 bedrooms, patio, deck, garage
Outcome: passed in, back on market at $1.35 million
Agents Kelly Zhang

Royal Oak

52 Turama Rd, unit 2:
Features: cross-lease, 1/3 share in 1396m², 3 bedrooms, double garage
Outcome: sold for $1.45 million
Agents: Rod Philson & Manas Nanda

St Heliers

22B Sylvia Rd:
Features: 3-bedroom townhouse, 2 bathrooms, study, double internal-access garage
Outcome: sold for $1.31 million
Agents: Teresa Weiss

Isthmus west

Blockhouse Bay

21B Exminister St:
Features: cross-lease, half share in 680m², 2-bedroom unit, garage & workshop
Outcome: passed in, sold post-auction
Agents: William & Simon MacLean

Mt Albert

58 Taylors Rd, unit 3:
Features: cross-lease, 1/5 share in 1598m², 2-bedroom unit, carport
Outcome: passed in
Agent: Mervin Lutchman

Mt Eden

4A Dexter Avenue, unit 2:
Features: cross-lease, quarter share in 804m², 2-bedroom unit, garage
Outcome: passed in, sold post-auction
Agents: James Yu & Angel Li

28 Watling St, unit 2:
Features: cross-lease, half share in 809m², 3-bedroom townhouse
Outcome: sold for $1.2 million
Agents: Leonie Stabler & Di Lynds

Sandringham

7 Kingsway Avenue, unit 8:
Features: cross-lease, 1/8 share in 804m², 3 bedrooms, study, balcony, double carport
Outcome: passed in
Agents: Allen & Hannah Wang

4 Patterson St, unit 3:
Features: cross-lease, 1/5 share in 1214m², 2-bedroom unit, carport
Outcome: passed in, sold post-auction
Agents: Gavin Han & Maggie Chen

Waterview

9B Alvertson Rd:
Features: cross-lease, 1/4 share in 1010m², 2 bedrooms, carport
Outcome: passed in
Agent: Kris Jamieson

51A Fir St:
Features: cross-lease, half share in 1027m², 3 bedrooms, carport, storage shed, offstreet parking
Outcome: sold for $766,000
Agents: Jim Murray

Westmere

7 Kotare Avenue, unit 2:
Features: cross-lease, 1/3 share in 1169m², 2-bedroom waterfront apartment, deck, carport
Outcome: sold for $1.71 million
Agent: André Boddé

North-east

Schnapper Rock

12 Schnapper Rock Rd, unit 3:
Features: 166m², 3 bedrooms, 2 bathrooms, balcony, internal-access garage, carport
Outgoings: body corp levy $673/year
Income assessment: $650/week current
Outcome: passed in, back on market at $799,000
Agents: Zheng Yang

North-west

Henderson

3 & 5 Waitaki St:
Features: 1582m², 2 4-bedroom houses, concept plans drawn up for subdivision under unitary plan mixed housing urban zoning
Outcome: passed in
Agents: Ann Lepper & James Gai

Kelston

27A St Leonards Rd:
Features: cross-lease, half share in 1052m², 4 bedrooms, deck, double garage
Outcome: no bid, back on market at $839,000
Agents: Sylvia Lu

New Lynn

2A Mason St:
Features: cross-lease, 1/3 share in 1639m², 3 bedrooms, 3 bathrooms, garage
Outcome: no bid
Agent: Anna Copeland

Ranui

323 & 325 Swanson Rd:
Features: 1214m² (2 607m² sections), 2 houses, concept plans drawn up for 19 lowrise apartments with 70m² retail on ground floor under mixed housing urban zoning
Outcome: passed in, back on market at $2.18 million
Agents: Ren Tang & Jacky Xu

South

Manurewa

39 Rimu Rd:
Features: cross-lease, half share in 809m², 2 bedrooms, verandah, carport, storage
Outcome: passed in
Agents: Stacey Tonner

Earlier story today:
Updated: Narrow development site passed in, 2 apartments sold

Attribution: Auctions.

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Updated: 9 sell at Bayleys’ Auckland commercial auction, 2 post-auction, 3 in Wellington, 1 in Whakatane

Published 28 October 2016, updated 7 November 2016:
9 of the 16 properties auctioned in Bayleys 6th Total Property portfolio for the year were sold under the hammer on Wednesday or shortly after.

They included 2 Post Shops, and the post-auction sale of 2 properties in a mixed portfolio offered by one vendor.

Another 2, in Manurewa & Wiri, have sold post-auction at prices substantially above the levels they were passed in at (details below).

In Wellington, all 3 properties in the Total Property offering yesterday were sold. Another in Whakatane was also sold.

The Auckland auction opened with the sale of 2 Post Shop/ Kiwibank premises, one in Royal Oak (pictured) selling on a yield just under 5% and one in Mt Eden on a 3.6% yield. The second of these, on Dominion Rd, went on the market at $3.1 million and sold for $750,000 more. Auction of a third Post Shop property, in Penrose, was postponed. 2 others in Kaitaia & Thames were up for tender, closing yesterday.

3 of the 4 properties offered by Kermani Properties Ltd were passed in and the fourth, a commercial kitchen & retail premises at ground level in the Grand Chancellor Hotel building, was withdrawn. However, sales were later concluded on a standalone building in the Otara town centre & 2 buildings on Papakura’s Broadway.

CBD

Queen St

175 Queen St, unit 14:
Features: vacant 228m² top floor, secure basement parking space
Outcome: passed in at $800,000
Agents: Quinn Ngo & Matt Lee

Victoria Quarter

Grand Chancellor, 1 Hobson St:
Features: 320m² street-level retail unit with kitchen, 2 entrances from hotel lobby & street
Outcome: withdrawn from auction
Agents: Millie Liang & Oscar Kuang

Isthmus east

Otahuhu

56-58 Atkinson Avenue:
Features: Box Building, 283m² corner site, residential & commercial tenants
Rent: $74,396/year net + gst
Outcome: no bid
Agents: Tony Chaudhary & Janak Darji

Penrose

39 Station Rd:
Features: 822m² site, 413m² Post Shop building, 7 parking spaces, seismic rating 60% new building standard
Rent: $63,000/year net + gst
Outcome: auction postponed
Agents: Cameron Melhuish & Andrew Wallace

Remuera

551-553 Remuera Rd:
Features: 531m² site, 220m² 2-level character building, ground-floor retail, offices upstairs, rear access off Upland Rd; 3-year lease from May to long established tenant School Uniform Centre, in occupation since 1998, with 2 3-year rights of renewal
Rent: $57,200/year net + gst
Outcome: sold for $1.69 million at a 3.38% yield
Agents: James Chan, Quinn Ngo & Owen Ding

Royal Oak

794 Manukau Rd:
Features: 581m² site on roundabout, 277m² single-level building, A grade seismic rating; town centre zoning, 27m height overlay; building occupies about half the site on one title, separate land-only title used for casual parking
Rent: $103,000/year net + gst; Post Shop/ Kiwibank franchisee contributes $58,000, balance paid by liquor store
Outcome: sold for $2.07 million at a 4.97% yield
Agents: Cameron Melhuish & Alan Haydock

Isthmus west

Mt Eden

371 Dominion Rd:
Features: 974m² corner site, 581m² 2-level building fully occupied on 3- to 6-year lease terms; Post Shop/Kiwibank franchisee & copy centre occupy the ground floor with an office tenant above; An underutilised vacant land area behind the building, accessed off King Edward St, provides a development opportunity; local centre zoning allows buildings up to 3 storeys incorporating upper floor residential
Rent: $134,362/year net + gst
Outcome: sold for $3.85 million at a 3.59% yield
Agents: Cameron Melhuish & Alan Haydock

North

Whangarei

Kensington, 11 Kensington Avenue:
Features: 2300m² site, new 650m² radiology facility set among other healthcare complexes, 9-year lease to TRG Imaging, NZ’s largest radiology group, one 6-year right of renewal
Rent: $192,000/year net + gst
Outcome: sold for $3.115 million at a 6.16% yield
Agents: Ranjan Unka & Ross Blomfield

North-east

Albany

6-8 Omega St, units 7 & 9:
Features: office units of 227m² & 222m², 8 exclusive parking spaces + more shared
Rent: $110,000/year net + gst from new 3-year lease
Outcome: withdrawn from auction
Agents: Alex Strever & Dean Gilbert-Smith

52 Oteha Valley Rd, unit A:
Features: 70m² retail unit occupied by liquor store
Rent: lease recently renewed for 3 years at $30,102/year net
Outcome: sold for $585,000 at a 5.14% yield
Agents: Matt Mimmack & Alex Strever

South

East Tamaki

20 Kerwyn Avenue, factory 1:
Features: cross-lease, half share in 3000m², 765m² medium-stud industrial premises on high visibility corner site with dual street access; 587m² factory/workshop with 4 roller doors
Rent: longstanding monthly tenancy returning $81,900/year
Outcome: sold for $1.825 million at a 4.48% yield
Agents: Jamsheed Sidhwa & Luke Carran

11 Stonedon Drive, unit H:
Features: 170m² industrial unit, 2 roller doors, 3 parking spaces; tenant of 12 years, United Industries, has signed for an additional 5 years, with 5 more 5-year rights of renewal
Rent: $32,400/year net + gst
Outcome: sold for $720,000 (including $93,913 gst) at a 5.17% yield
Agents: Nelson Raines

Manurewa

Updated: 185-189 Great South Rd:
Features: 2-level 1124m² commercial unit with multiple retail & office tenants, between New World & South Mall entrance
Rent: $215,921/year net + gst
Outcome: passed in at $2 million, sold post-auction for $2.45 million at an 8.81% yield
Agents: Oscar Kuang, James Chan, Tony Chaudhary & Janak Darji

Otara

The Kermani building on Fair Mall place, Otara, sold post-auction.

The Kermani building on Fair Mall place, Otara, sold post-auction.

19 Fair Mall Place:
Features: 501m² site in heart of the town centre, multi-tenanted 980m² building; ground floor fully leased on 3- to 6-year terms to butcher, TAB, pizza outlet & discount store; 485m² upstairs, recently occupied by a nightclub, is vacant
Rent: $174,702/year net + gst
Outcome: passed in at $1.675 million, sold shortly after for $1.76 million
Agents: Oscar Kuang & James Chan

Papakura

28-30 Broadway:
Features: 488m² site in 2 titles, 2 adjoining retail & office buildings totalling 569m², metropolitan centre zoning has height allowance of 40.5m
Outcome: passed in at $510,000, sold shortly after for $545,000 with vacant possession
Agents: Oscar Kuang, Peter Migounoff & Tony Chaudhary

201-203 Great South Rd:
Features: 438m² site, vacant 700m² floor area – 390m² ground-floor retail in former bank, 131m² mezzanine, 179m² rear warehouse & parking
Outcome: no bid
Agents: Piyush Kumar & Peter Migounoff

82 Hunua Rd:
Features: 1.9488ha site zoned industrial 4 (heavy zoning)
Outcome: no bid
Agents: Shane Snijder & Peter Migounoff

Wiri

Updated: 14 Aerovista Place:
Features: 3931m² bare land, zoned heavy industrial, new 5-year lease from March 2016 to Titan Containers NZ
Rent: $100,000/year net + gst
Outcome: passed in at $1.55 million, sold post-auction for $1.75 million at a 5.71% yield and a land value of  $445/m2
Agents: Nick Bayley & Dave Stanley

South of the Bombays

Bay of Plenty

Whakatane

34 Valley Rd:
Features: 3046m² site, 1548m² storage facility, multi-tenanted 74-unit complex with 95-100% occupancy
Outcome: sold as a freehold going concern for $1.325 million
Agents: Brendon Bradley & Matthew Gibbard

Manawatu

Palmerston North

14-18 Broadway Avenue (auctioned in Auckland):
Features: 337m² site, 1400m² floor area,
Rent: $36,000/year net + gst from 2 tenants
Outcome: no bid
Agents: Quinn Ngo & Owen Ding

Wellington

Lower Hutt – Alicetown

31 Wakefield St:
Features: 485m² workshop/office building, fully refurbished & strengthened to 75% of new building standard, new 6-year lease to Central Electrical which has been in occupation for 15 years
Rent: $55,000/year net + gst, annual 2.5% increases
Outcome: sold for $720,000 at a 7.63% yield
Agents: Andrew Smith & Paul Cudby

Tawa

180-182 Main Rd:
Features: 506m² site in shopping precinct, 670m² 2-level commercial building, 5 leased retail tenancies on ground floor plus 5 smaller office tenancies above and one larger vacant office tenancy
Outcome: sold for $869,000
Agent: Jon Pottinger

Upper Hutt

806 – 808 Fergusson Drive:
Features: 916m² fringe city site, 960m² high stud warehouse; Jetts Gym & Pak ’n Save have new leases running until 2022
Rent: $110,000/year net + gst
Outcome: sold for $1.21 million at a 9.09% yield
Agents: Matt Gibbs & Fraser Press

Attribution: Auction, agency releases.

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Updated & corrected: Fight for Porana Rd site a feature as 7 sell at Bayleys auction, 9 now sold

Published 6 July 2016, updated 11 July 2016:
7 of the 14 properties in Bayleys’ third Auckland Total Property portfolio of the year were sold at auction on 6 July, and one was sold prior. A New Windsor property has been sold post-auction.

A feature of the day’s bidding was the battle between a Wairau Valley property’s neighbour & 3 developers (among other bidders) – the neighbour entering the fray late and outlasting his competition for the Porana Rd site (pictured). Although the transaction registers at a 3.35% yield on current monthly rent, site aggregation is always differently based.

The auction took an unusual turn for a Bayleys commercial auction after the first 3 properties were sold, as the next 4 were all passed in, followed by the Porana Rd battle.

The sale price on a Hillside Rd, Wairau Valley, property has been corrected.

Isthmus east

Grafton

73 Boston Rd:
Features: 334m² site in mixed-use zone, 114m² commercial villa, 3 parking spaces + 25m² freestanding one-bedroom flat; proposed unitary plan allows for 20.5m height
Outcome: sold for $1.7 million
Agents: Phil & Alan Haydock

Meadowbank

16-18 St Johns Rd:
Features: 223m² site, 264m² floor area, seismically strengthened to 70% new building standard & refurbished, 2 shops, 3-bedroom flat above
Rent: $80,544/year + gst, potential $116,000/year net & vacant possession of flat
Outcome: sold for $2.302 million at a 5.04% yield on the potential rent
Agents: Cameron Melhuish & Andrew Wallace

Penrose

30 O’Rorke Rd:
Features: 3120m² industrial site, 1700m² premises, leasehold interest for sale, fixed expiry 2044, fully tenanted – 3 tenants on leases to 2018 & 2020 with renewal rights; freehold held by Tram Lease Ltd
Rent: $169,800/year + gst
Outcome: reserve of $560,000 declared, no bid
Agents: Graham Anderson & Greg Hall

Isthmus west

New Windsor

Updated: 63 New Windsor Rd:
Features: corner block of shops, 170m² floor area, tenants a café, electrician & laundromat
Rent: $41,465/year net + gst
Outcome: passed in at $890,000, sold post-auction for $936,150
Agents: Oscar Kuang & Matt Lee

Ponsonby

223 Ponsonby Rd:
Features: 4 flats, 3 refurbished
Rent: fully leased, returning $125,580/year
Outcome: passed in at $3.1 million
Agents: Damien Bullick & Alan Haydock

North-east

Orewa

70 Grand Drive, units G & H:
Features: 387m² restaurant & gaming lounge in 2 units of modern complex
Outcome: no bid
Agents: Mustan Bagasra

Takapuna

347-349 Lake Rd:
Features: 245m² site, 230m² floor area
Rent: $80,500/year net + gst
Outcome: passed in at $1.7 million
Agents: Simon Aldridge & Michael Nees

Wairau Valley

Corrected: 57 Hillside Rd, unit C:
Features: 616m² industrial property – warehouse 308m², office & amenities 150m², mezzanine storage 158m²
Rent: tenant on monthly gross rent of $6500 + gst + outgoings, or $78,000/year
Outcome: sold for $1.09 million (originally written as $1.9 million)
Agents: Alex Strever & Trevor Dufin

60 Porana Rd (pictured):
Features: 1791m² site, 700m² floor area in industrial building, bought by neighbour
Rent: tenant on monthly rent of $5250 + gst + outgoings, or $63,000/year
Outcome: sold for $1.88 million at 3.35% on current rent
Agents: Trevor Duffin & Alex Strever

North-west

Glen Eden

5 Oates Rd, unit 4:
Features: 77m² strata title, bakery on 6-year lease
Rent: $27,040/year net + gst
Outcome: sold for $635,000 at a 4.26% yield
Agents: Oscar Kuang & Quinn Ngo

South

Manurewa

18 Mahia Rd:
Features: 2448m² corner site in 3 titles, 1606m² warehouse & workshop, same tenant for 23 years, seismic rating 90%
Rent: $168,603/year net + gst, 4-year lease from July 2015
Outcome: passed in at $2.7 million
Agents: Nick Bayley & Dave Stanley

Papakura

179-181 Great South Rd:
Features: 460m² site, 477m² building, 2 tenancies
Rent: $77,083/year net + gst
Outcome: sold for $1.31 million at a 5.9% yield
Agents: Peter Migounoff & Piyush Kumar

Somerville

90C Whitford Rd:
Features: 110m² Chinese restaurant
Rent: $40,860/year net + gst, 3-year lease renewed until September 2019
Outcome: sold for $715,000 at a 5.7% yield
Agents: Quinn Ngo & Katie Wu

South of the Bombays – Taranaki

New Plymouth

21 Currie St:
Features: 3070m² site, fully leased, former post office converted to retail, banking & Quest serviced apartments, fully leased parking
Rent: $1.1 million/year passing income
Outcome: sold prior, price not disclosed
Agents: Paul Dixon & Alan Johnston

Attribution: Auction.

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21 sell out of 34 offered at Bayleys Total Property auction

Bayleys finished its Total Property auction series for the year with 20 sales under the hammer on Wednesday from 34 properties offered, and a post-auction sale confirmed yesterday. Another 11 were withdrawn from the auction.

Image at top: 8 Newton Rd, Grey Lynn, a refurbished building with a mix of uses including a loft-style apartment, sold vacant.

CBD

Quay Park

8 Quay St, unit 1:
Outcome: withdrawn from auction
Agents: Owen Ding & Quinn Ngo

Victoria St

Lister Building, 9B Victoria St East:
9B Victoria Street East, Auckland Central:
Features: 48m² shop, lease to convenience store for 3 years from June 2015, one 6-year right of renewal
Rent: $48,000/year net + gst, yearly 2.5% increases from June 2018 if renewal exercised
Outcome: sold for $820,000 at a 5.85% yield
Agents: Quinn Ngo & Owen Ding

Waterfront

Princes Wharf, 137 Quay St, shed 19, unit 2:
Features: 482m2 leasehold commercial unit plus 63.5m² outdoor seating area, ground rent prepaid until 2095
Outcome: sold for $1.15 million at mortgagee sale
Agent: Tony Bayley

Isthmus east

Ellerslie

38 Eaglehurst Rd, unit 9:
Outcome: withdrawn from auction
Agents: Dave Stanley & James Valintine

Epsom

89B Great South Rd:
Features: 167m2 site, character 2-level 111m2 live/work unit, 2-year lease to tailoring business from March 2015 plus one 2-year right of renewal
Rent: $28,350/year net + gst
Outcome: sold for $675,000 at a 4.2% yield
Agents: Oscar Kuang, James Chan & Terry Kim

Otahuhu

24 Atkinson Avenue, Otahuhu, retail building with development potential.

24 Atkinson Avenue, Otahuhu, retail building with development potential.

24 Atkinson Avenue:
Features: 385m2 mixed-use corner site, height limit of 20.5m under proposed unitary plan, 3 ground-floor retail outlets & 2 flats upstairs
Rent: $42,000/year net + gst from 2 retail leases & one residential tenancy
Outcome: sold for $985,000
Agents: Piyush Kumar, Shane Snijder & Tony Chaudhary

Penrose

35 Maurice Rd, unit I:
Outcome: withdrawn from auction
Agents: Tony Bayley

Isthmus west

Avondale

1977 Great North Rd, Avondale, sold at a yield just under 5%.

1977 Great North Rd, Avondale, sold at a yield just under 5%.

1977 Great North Rd:
Features: 202m² site, 265m² building in block of shops, ground-floor lease to a fruit & vege retailer until June 2017, one 3-year right of renewal, basement area vacant
Rent: $26,400/year net + gst
Outcome: sold for $530,000 at a 4.98% yield
Agents: Mike Adams, James Appleby & Quinn Ngo

Eden Terrace

74D France St:
Outcome: passed in
Agents: Ben Wallace & Matt Gordon

33 Randolph St:
Features: Vacant 2-level 364m² building, ground-floor warehousing & refurbished loft-style upper level suitable for office or apartment use; on 281m² mixed-use site with increased height limit of 32.5m under proposed unitary plan
Outcome: passed in at $1.8 million
Agents: Damien Bullick, Alan Haydock & Jean-Paul Smit

Grey Lynn

564 Great North Rd:
Outcome: passed in, vendor bid of $600,000
Agents: Simon Aldridge & Michael Nees

8 Newton Rd:
Features: 304m2 mixed-use site, 317.5m2 striking architecturally designed & refurbished 2-level building, loft-style apartment with open-plan, character ground-floor space, 4 parking spaces
Outcome: sold vacant for $1.6 million
Agents: Cameron Melhuish & Andrew Wallace

116-120 Surrey Crescent:
Features: 3 dwellings converted to childcare centre plus flat, total 575m² on 1515m² residential 6A site, zoned mixed use under proposed unitary plan; 10-year lease to NZX-listed Evolve Group from July 2012, 2 3-year rights of renewal
Rent: $190,383/year net + gst, 2-yearly CPI adjustments
Outcome: sold for $4.155 million at a 4.6% yield
Agents: Mark Pittaway & James Chan

Mt Eden

718 Dominion Rd:
Outcome: withdrawn from auction
Agents: Oscar Kuang & James Chan

Pt Chevalier

1104 Great North Rd:
Features: 255m² retail unit, parking at front, occupied by Video Ezy on monthly lease until end of year, plus ASB ATM lease
Rent: $88,100/year net + gst
Outcome: sold for $1.05 million at an 8.4% yield
Agents: Quinn Ngo & Matt Lee

North

Kerikeri

60 Kerikeri Rd, unit G06:
Outcome: no bid
Agents: Michael Nees & Brian Caldwell

Warkworth

Artist’s impression of The Grange, Warkworth.

Artist’s impression of The Grange, Warkworth.

3 tenancies were taken to auction in the new Grange retail convenience centre being developed by Square & Main Street Ltd (Adam Reynolds), nearing completion on the former garden & hardware centre site on the southern side of Warkworth. The property at 67 Auckland Road (State Highway 1) covers 7089m²and will have 22 tenancies.

The Grange, 67 Auckland Road, unit PU4, The Coffee Club:
Features: 210m2 unit, including 50m2 covered, all-weather deck & courtyard area, 10-year lease to Coffee Club & one 10-year right of renewal
Rent: $82,500/year net + gst
Outcome: sold for $1.55 million at a 5.3% yield
Agents: James Chan & Steve Orr

The Grange, unit PU2, Bottle-O:
Features: 200m² unit, 8-year lease to independently owned & operated NZ retail liquor store plus 2 4-year rights of renewal
Rent: $70,000/year net + gst
Outcome: sold for $1.16 million at a 6% yield
Agents: Quinn Ngo & Steve Orr

The Grange, unit PU3A, Indian restaurant:
Features: 142m² unit, including 25m2 deck, leased to local Indian restaurant on 10-year term, 2 5-year rights of renewal
Rent: $50,550/year net + gst
Outcome: passed in at $600,000
Agents: James Chan & Matt Lee

North-east

Albany

52 Oteha Valley Rd, unit M:
Features: 278mstandalone retail building occupied by the Meat King for 14 years, new 4-year lease plus one 4-year right of renewal
Rent: $114,000/year net + gst
Outcome: sold for $2.05 million at a 5.6% yield
Agents: Adam Curtis & Adam Watton

Birkenhead

65-67 Birkenhead Avenue:
Outcome: passed in at $2.6 million
Agents: Damian Stephen & Adam Curtis

Rosedale

8 Arrenway Drive:
Outcome: no bid
Agents: Matt Mimmack & Laurie Burt

36 Tarndale Grove:
Outcome: withdrawn from auction
Agents: Matt Mimmack & Ashton Geissler

18 Triton Drive, unit H1:
Outcome: passed in, vendor bid of $900,000
Agents: Terry Kim & Damian Stephen

49A William Pickering Drive:
Features: 368m2 building, 56m2 courtyard, 24 parking spaces, 9-year lease to New Brew bar & restaurant from September 2014 & one 6-year right of renewal
Rent: $123,360/year net + gst
Outcome: sold for $2.265 million at a 5.4% yield
Agents: Ashton Geissler, Ranjan Unka, Damian Stephen & Tony Chaudhary

Sunnynook

318 East Coast Rd:
Outcome: passed in
Agents: Tony Chaudhary & Ranjan Unka

Wairau Valley

20 Link Drive, unit MM:
Outcome: no bid
Agents: Adam Watton & Michael Block

North-west

Henderson

103 Lincoln Rd:
Features: 809msite, 110m2  dwelling converted for office use
Outcome: sold with vacant possession for $1 million
Agents: Tony Chaudhary & James Appleby

192 Universal Drive, unit A6:
Outcome: withdrawn from auction
Agents: Alan Haydock & Cameron Melhuish

New Lynn

76 Delta Avenue:
Outcome: passed in
Agents: Grant Miller & Peter Turner

Te Atatu Peninsula

29 Neil Avenue:
Features: 819mcorner site, 3 retail tenancies – a hairdresser, dairy & chocolate maker – plus vacant 3-bedroom flat    
Rent: $47,650/year net + gst
Outcome: sold for $880,000 at a 5.4% yield
Agents: Tony Chaudhary & Mike Adams

South

East Tamaki

171 Harris Rd:
Outcome: withdrawn from auction
Agents: Jamsheed Sidhwa & Luke Carran

2 Kerwyn Avenue, unit C:
Features: 1149m² industrial unit with access also from Springs Road, 24 parking spaces, seismic assessment of 140% new building standard
Rent: holding income until May of $149,000/year net + gst
Outcome: sold to owner-occupier for $1.7 million
Agents: Tony Chaudhary, John Bolton & Janak Darji

5A Nandina Avenue:
Features: 806m² roadfront industrial unit, occupied by gym for over 25 years, currently on 6-year lease from August 2011 with 2 2-year rights of renewal, 21 parking spaces
Rent: $88,000/year net + gst
Outcome: sold for $1.5 million at a 5.9% yield
Agents: Dave Stanley, Mike Marinkovich, & Tony Chaudhary

Pakuranga, Highland Park

168 Aviemore Drive, unit G:
Features: 314m2 upper level of 2-level commercial building, new 4-year lease plus 2 4-year rights of renewal to Creative Dental Ltd
Rent: $79,020/year net + gst
Outcome: sold for $1 million at a 7.9% yield
Agents: Geoff Wyatt & Nick Bayley

Howick

5 retail units in an established convenience centre at 219 Moore St, Howick, were on Wednesday’s auction list but 3 were among properties withdrawn when the auction ran over time.

219 Moore St, unit A:
Outcome: passed in at $1.135 million
Agents: Millie Liang & Tony Chaudhary

219 Moore St, units B, C & D:
Outcome: withdrawn from auction
Agents: Millie Liang & Tony Chaudhary

219 Moore St, unit E:
Outcome: passed in at $1.15 million
Agents: Millie Liang & Tony Chaudhary

10 Wellington St, unit 8:
Features: 85m² retail unit in The Terraces retail & residential complex, leased to clothing store
Rent: $33,592/year net + gst
Outcome: sold for $470,000 at a 7.1% yield
Agents: Quinn Ngo & Geoff Wyatt

Mangere

17 Airpark Drive, unit 7:
Features: 450m2 modern, high-stud, tilt slab warehouse in Airport Oaks precinct
Outcome: sold with vacant possession for $870,000
Agents: Nick Bayley & Dave Stanley

Manurewa

165 Great South Rd:
Features: 455m2 site, 350m2 retail block with 3 tenants – dairy, hair salon & butcher
Rent: $90,800/year net + gst
Outcome: sold for $1.55 million at a 5.85% yield
Agents: Tony Chaudhary & Piyush Kumar

Waiuku

18 Martyn St:
Outcome: withdrawn from auction
Agents: Tonia Robertson & Tony Chaudhary

South of Bombays

Waikato – Raglan

2 Main Rd:
Features: 1167m² site, BP service station & workshop, 20-year head lease from July 2014 to a wholly owned subsidiary of No 8 Retail Group Ltd, 4 6-year rights of renewal, only petrol station in the town
Rent: $115,000/year net + gst, 4% rental increases every 2 years
Outcome: sold post-auction for $ 2.115 million at a 5.4% yield
Agents: Tony Chaudhary & Janak Darji, Bayleys South Auckland

Attribution: Auction.

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10 sales & 3 leases in South Auckland

Bayleys agents in South Auckland have recorded 10 sales, including one extra sale out of last week’s auction, and 3 leasing transactions.

South

Sales

Clover Park

18 Dissmeyer Drive:
Features: 200m2 mixed use building on 623m2 business 1-zoned site, 2 retail tenancies, one a superette on new 4-year lease, the other vacant; residence above
Rent: $26,000/year net + gst for commercial tenant; $400/week for periodic residential tenancy
Outcome: sold for $1.025 million, purchaser will occupy vacant tenancy on half of ground floor
Agents: Tony Chaudhary & Janak Darji

Manukau

132 Cavendish Drive, unit 4:
Features: 422m2 building – 243m2 workshop, 79m2 office, 84m2 showroom, occupied by Midas Car Care, which exercised the last of 2 6-year rights of renewal in 2013
Rent: $71,190/year net + gst
Outcome: sold for $1.18 million at a 6% yield
Agents: Katie Wu & John Bolton

8 Puhinui Rd, unit 1 (pictured above):
Features: 537m2 2-level commercial building, 36 parking spaces, educational institute on 3-year lease from May 2014 with one 3-year right of renewal
Rent: $135,295/year net + gst
Outcome: sold for $1.75 million at a 7.7% yield
Agent: Mark Pittaway

3 Wilko Place:
Features: New 1444m2 industrial building scheduled for completion mid-2016 on 2215mbusiness 6-zoned site – 1228m2 warehouse with 9m-10.3m stud, plus 175m2 canopy & 216m2 office
Outcome: sold with vacant possession for $3.21 million
Agent: Mike Marinkovich

Manurewa

Unit 1, 1327 Alfriston Rd:
Features: 86m2 workshop on 560m2 site
Outcome: sold for $230,000 at a 5.2% yield
Agents: Shane Snijder & Piyush Kumar

28A & 28B Maich Rd, unit D:
Features: 150m2 warehouse on 1287m2 business 5-zoned site
Outcome: sold vacant for $575,000
Agents: Tony Chaudhary & Janak Darji

175-177 Russell Rd:
Features: 230m2 warehouse/office building on 1284m2 site, with small lease for yard space on 2-year term from February 2015 with no reviews or rights of renewal
Rent: $15,000/year net + gst
Outcome: sold as freehold going concern for $715,000
Agents: Piyush Kumar & Peter Migounoff

Papakura:

31 Elliot St:
Features: 500m2 warehouse on 799m2 commercial 1-zoned site, 2 tenants on 1- & 3-year leases
Rent: $40,000/year net + gst
Outcome: sold for $600,000 at a 6.6% yield
Agents: Piyush Kumar & Peter Migounoff

55 Hunua Rd, Papakura, sold post-auction.

55 Hunua Rd, Papakura, sold post-auction.

55 Hunua Rd:
Features: vacant 4057m² site, trucking facility with modern workshop & mechanics’ pit, air-conditioned offices, 492m² of building
Outcome: sold post-auction for $1.25 million (passed in at $1.15 million)
Agents: Shane Snijder & Peter Migounoff

Pukekohe

22 Queen St:
Features: 206m2 tilt-slab office building constructed in 2007 on 300m2 roadfront site
Outcome: sold vacant for $895,000
Agent: Graeme Moore

Leases 

Manurewa

12 Maich Rd:
Features: 480mwarehouse leased for 3 years with 2-yearly rent reviews & 2 3-year rights of renewal
Rent: $51,000/year net + gst
Agents: Piyush Kumar & Peter Migounoff

Takanini

6B Marphona Crescent:
Features: 740m2 warehouse, 123m2 office space & 13 parking spaces on industrial site leased for 4 years with CPI rent review
Rent: $137,500/year net + gst
Agents: Peter Migounoff & Katie Wu

70 Spartan Rd:
Features: 2600m2 yard area on industrial site, plus 150m2 office space, leased for 2 years for parking trucks, annual rent reviews to CPI & one 2-year right of renewal
Rent: $66,000/year net + gst
Agent: Peter Migounoff

 

Attribution: Agency release.

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2 Devonport commercial properties sold

4 of the 8 commercial properties offered at Colliers’ commercial auction yesterday were sold under the hammer or shortly after, including 2 adjoining Devonport town centre properties (pictured; one under conditional contract). Negotiations were also under way on the fifth of the properties auctioned, and on 2 of the 3 that had been withdrawn.

Isthmus west

Avondale

356 Rosebank Rd:
Features: 1130m² site, 487m² building
Rent: $52,224/year net
Outcome: sold for $1.34 million at a 3.9% yield
Agents: Craig Smith & Dhiru Patel

North-east

Devonport

12 Clarence St & 49-Victoria Rd:
Features: 960m² corner site, 892m² floor area, multi-tenanted retail/commercial property with development potential
Outcome: passed in at $5.05 million, under conditional contract post-auction at $5.5 million
Agents: Euan Stratton, Deborah Dowling & Charlie Oscroft

14 Clarence St:
Features: 408m² in 2 tenancies, retail/commercial property, pending vacancy allows for growth
Rent: $72,200/year net
Outcome: passed in at $1.2 million, sold post-auction for $2 million at a 3.6% yield
Agents: Euan Stratton, Deborah Dowling & Charlie Oscroft

Rosedale

63 Apollo Drive, unit B3:
Features: multi-tenanted corner site
Rent: $153,511/year net
Outcome: auction postponed but under negotiation
Agents: Janet Marshall & Paul Salmon

Silverdale

23-25 Wainui Rd:
Features: 197m² land & floor area, plus 13m² deck, Northern Union Gastro Pub as tenant in the new Silverdale Centre
Rent: $123,750/year net, 10-year lease from June 2014
Outcome: withdrawn from auction, under negotiation
Agents: Shoneet Chand & Matt Prentice

North-west

Henderson

302 Henderson Valley Rd:
Features: 2233m² site, childcare centre licensed for 50 children and café/function complex Outcome: auction cancelled
Agents: Peter Kermode, Michael Bray & Deborah Dowling

South

Manukau

40 Cavendish Drive, unit 1:
Features: recently refurbished, Bike Barn (Bike International Ltd) as tenant on new 6-year lease
Rent: $100,000/year net + gst
Outcome: sold for $1.755 million at a 5.69% yield
Agents: Adam White & Peter Kermode

Manurewa

2 Russell Rd:
Features: corner site
Rent: $103,577/year net + gst
Outcome: passed in at $1.3 million, under negotiation
Agents: Jeremy Barnett & Dhiru Patel

Attribution: Auction.

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Update: 9 sell at Bayleys commercial auction, one shortly after

Published 24 September 2015, updated 27 September 2015:
9 properties sold under the hammer at Bayleys’ Greater Auckland commercial auction on Wednesday out of 18 offered, and a vacant Wairau Valley warehouse was sold by the end of the week.

Isthmus east

Newmarket

7 Eden St:
Features: 413m², zoned mixed use, clearspan warehouse, mezzanine office
Outcome: sold for $2.6 million
Agents: Andre Siegert & Brendan Graves

Remuera

571 Remuera Rd:
Features: 157m² site, 138m² floor area, ground-floor shop, apartment upstairs seismic rating 25%
Rent: $31,500 + gst + outgoings
Outcome: sold for $830,000
Agents: Tony Chaudhary & Cameron Melhuish

Royal Oak

Royal Oak Mall, 691 Manukau Rd, units 55 & 55A:
Features: 200m² floor area, Royal Oak Medical Centre as tenant
Rent: $61,025/year net + gst
Outcome: declared reserve of $450,000, sold for $542,000
Agents: Oscar Kuang & James Chan

Isthmus west

Balmoral

529 Dominion Rd:
Features: 193m² site, 171m² building, retail ground-floor, apartment upstairs
Rent: $83,653/year
Outcome: no bid
Agents: Andrew Wallace & Cameron Melhuish

Mt Eden

11 Fenton St, unit G01:
Features: 101m² ground-floor space in new Station R residential development by Ockham Residential Ltd
Rent: vacant
Outcome: withdrawn from auction
Agents: James Were & Scott Kirk

North-east

Albany

270 Oteha Valley Rd, unit 14:
Features: 106m², Oporto as tenant in new retail development, 10-year lease, one right of renewal
Rent: $61,410/year + gst + outgoings
Outcome: passed in at $900,000
Agents: Tony Chaudhary & Simon Aldridge

14 Clyde Rd, Browns Bay.

14 Clyde Rd, Browns Bay.

Browns Bay

14 Clyde Rd:
Features: 764m² site, 748m² building
Rent: vacant
Outcome: sold for $2.57 million
Agents: Ranjan Unka & Brian Caldwell

Takapuna

38 Taharoto Rd:
Features: 879m² site, 142m² floor area, 9 parking spaces North Shore Veterinary Clinic on new 6-year lease, 9 parking spaces, zoned special housing area along with 2 neighbours, mixed-use special housing under proposed unitary plan
Rent: $50,100/year + gst + outgoings
Outcome: sold for $2.07 million
Agents: Stephen Scott & Ranjan Unka

Wairau Valley

Update: 11 Ashfield Rd:
Features: 1012m² site, 918m² building, warehouse, mezzanine storage & offices, 100% seismic rating, 11 parking spaces
Rent: vacant
Outcome: passed in at $1.375 million, sold post-auction for $1.46 million
Agents: Ranjan Unka & Adam Watton

North-west

Riverhead

2 Sawmill Rd:
Features: 2122m² fully serviced corner site, consented industrial use, option to buy adjoining sites
Rent: vacant
Outcome: no bid
Agents: Rosemary Wakeman & Ashton Geissler

South

Airport Oaks

4-8 Pavilion Drive:
Features: 764m² floor area, 31 parking spaces
Rent: $202,199/year + gst + outgoings from 3 tenants
Outcome: sold for $2.735 million
Agents: Marty Roestenburg

38 Richard Pearse Drive:
Features: warehouse 1524m², ground floor 671m²,  first floor 646m², 3 tenancies
Rent: $351,750/year + gst + opex
Outcome: no bid
Agents: Jamsheed Sidhwa & Luke Carran

Highland Park

491 Pakuranga Rd, unit L:
Features: 100m² licensed Thai restaurant
Rent: $41,600/year + gst
Outcome: sold for $491,000
Agents: Oscar Kuang & Geoff Wyatt

Howick

16 Uxbridge Rd:
Features: 156m² site, 250m² floor area, seismic rating 90%
Rent: vacant
Outcome: sold for $800,000
Agents: Tony Chaudhary & Sunil Bhana

Manurewa

202 Great South Rd:
Features: 403m² site, 500m² floor area, Rewa Bar
Rent: $40,956, review 1 October, one 3-year right of renewal
Outcome: sold for $745,000
Agents: Oscar Kuang & James Chan

Papakura

28-30 Broadway:
Features: 488m² site, 569m² floor area 2 adjoining 2-storey buildings on separate titles, 2 shops plus upstairs office
Rent: $28,665/year + gst from one shop tenant
Outcome: no bid
Agents: Oscar Kuang & Peter Migounoff

138-142 Great South Rd:
Features: 2023m² site, NZ Post & Kiwibank on ground floor, 11 proposed apartments under contract,
Rent: $173,949/year + gst
Outcome: no bid
Agents: Pyush Kumar & Peter Migounoff

17 Porchester Rd:
Features: 1454m² site, 546m² building, 135% seismic rating, 21 parking spaces
Rent: vacant
Outcome: passed in at $875,000
Agents: Tony Chaudhary & Peter Migounoff

Wiri

1 Hautu Drive, unit 5:
Features: 471m², new precast concrete-panelled unit on corner site
Rent: vacant
Outcome: no bid
Agents: Nick Bayley & Marty Roestenburg

Image at top: 571 Remuera Rd, Remuera.

Attribution: Auction.

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Harcourts realtor makes big purchase at Bayleys auction

Harcourts Cooper & Co principal Martin Cooper (pictured at right) walked into Bayleys’ Total Property auction on Wednesday as the tenant of a Browns Bay building, and walked out half an hour & $5.2 million later as the owner of the whole building.

His company, Cooper & Co Real Estate Ltd, has its head office in Browns Bay and 11 other Harcourts (and NAI Harcourts) branches, mostly on the North Shore.

His purchase, after a tense battle, came at a 5.1% yield, one of 6 transactions on the day at yields below 6%. 17 commercial properties were sold at the auction out of 23 offered – and another, at Papakura, has been sold today.

Isthmus east

311 Manukau Rd, Epsom.

311 Manukau Rd, Epsom.

Epsom

311 Manukau Rd:
Features: 789m² mixed-use site, 466m² multi-tenanted 2-level commercial building – ex-Epsom Post Office, 10 parking spaces
Rent: $160,210/year net + gst
Outcome: sold for $3.025 million at a 5.3% yield
Agent: Mark Pittaway & Oscar Kuang

Onehunga

107 Neilson St:
Features: 3827m² business 6 site with 56 parking spaces, 1845m² warehouse & office building, ground level tenanted by NZ Opera with final lease expiry  of March 2017; 348m² first level vacant
Rent: $134,224/year net + gst
Outcome: sold for $2.8 million
Agents: Quinn Ngo, James Chan & Matt Lee

The shop at 29 St Heliers Bay Rd, sold at a 4.3% yield.

The shop at 29 St Heliers Bay Rd, sold at a 4.3% yield.

St Heliers

29 St Heliers Bay Rd:
Features: retail premises in strip retail block with 12-year lease to Eden Foods from May 2007 plus one 6-year right of renewal
Rent: $136,819/year net + gst
Outcome: sold for $3.19 million at a 4.3% yield
Agents: Tony Chaudhary & Janak Darji

Isthmus west

Blockhouse Bay

115 Boundary Rd:
Features: 1753m² site, purpose-built childcare centre licensed for 60 children on residential 5 site with 10-year lease from August 2012 and 5 5-year rights of renewal
Rent: $169,850/year net + gst
Outcome: sold for $3.09 million at a 5.5% yield
Agents: Tony Chaudhary & Janak Darji

Mt Albert

4 Mt Albert Rd:
Features: solid 1960s block building, showroom, large warehouse with full-height roller doors, kitchenette, 3 toilets, several offices, mezzanine area
Outcome: no bid
Agent: Murray Savage

Mt Eden

35A Normanby Rd, unit 14:
Features: 307m² medium-stud warehouse, new 6-year lease to electrical business with 3 2-year rights of renewal, 4 parking spaces
Rent: $50,000/year net + gst, with 2-yearly rent reviews to CPI + 1%
Outcome: sold for $884,000 at a 5.65% yield
Agent: Stuart Bode

45C Normanby Rd, unit 13:
Features: refurbished offices, new 6-year lease + renewals, 19 parking spaces
Rent: $181,659/year net + gst
Outcome: no bid
Agent: Stuart Bode

Ponsonby

88 College Hill:
Features: 189m² villa offering character office space, one-third share of 1116m² corner site, 8 parking spaces
Outcome: sold vacant post-auction for $1.825 million
Agents: Stephen Scott & Trisha Vincent

North

Dargaville

76 Victoria St:
Features: 423m² site with rear access to 4 parking spaces, 477m² refurbished building with main street frontage, 9-year lease to Westpac Bank from March 2011 with 3 3-year rights of renewal
Rent: $79,630/year net + gst
Outcome: sold for $1.125 million at a 7.1% yield
Agent: Ross Blomfield & Tony Chaudhary

North-east

Albany

28 The Avenue, unit 3:
Features: 90m² retail floor area
Outcome: no bid
Agents: Janak Darji & Simon Aldridge

8-12 Clyde Rd, Browns Bay.

8-12 Clyde Rd, Browns Bay.

Browns Bay

8-12 Clyde Rd:
Features: 764m² corner site zoned town centre under the proposed unitary plan, 1100m² fully leased 2-level building, ground-floor retail & office above
Rent: $267,639/year net + gst
Outcome: sold for $5.212 million at a 5.1% yield
Agents: Ranjan Unka & Brian Caldwell

Murrays Bay

470 Beach Rd:
Features: 1236m² waterfront site, 2-level retail/commercial property
Rent: $149,200/year net from 3 tenancies
Outcome: passed in at $2.45 million
Agents: Tony Chaudhary & Damian Stephen

Rosedale

59 Apollo Drive, unit G2:
Features: 513m² office premises in Apollo Technical Park split into 2 tenancies, 202m² tenanted for 3 years with one 3-year right of renewal, balance vacant
Rent: $55,700/year net + gst, potential fully leased $149,900/year net + gst
Outcome: sold for $1.7 million
Agents: Michael Nees & Simon Aldridge

Wairau Valley

6 Croftfield Lane:
Features: 2835m² on 2 titles, 9-year lease from March 2011 to Fletcher Distribution Ltd, one 6-year right of renewal, used as yard space by adjoining Placemakers store
Rent: $100,893/year net + gst
Outcome: sold for $1.875 million at 5.4% yield
Agents: Owen Ding, Terry Kim & Laurie Burt

North-west

Glen Eden

355 West Coast Rd:
Features: 1.2348ha industrial site with existing older buildings, 2 licences to occupy over part of site provide holding income
Outcome: sold for $1.8 million
Agents: Mike Adams & Stuart Bode

South

Howick

186 Ridge Rd:
Features: 890m² site with redevelopment potential, block of 3 shops, liquor store & 2 takeaways, with brick house behind
Rent: projected rent about $95,000/year
Outcome: sold for $1.6 million
Agents: Mark Pittaway, Tony Chaudhary & Peter Turner

Manukau

132 Cavendish Drive, unit 4:
Features: modern tilt-slab building
Rent: $71,190/year net + gst + opex
Outcome: passed in at $910,000
Agent: Katie Wu & John Bolton

Manurewa

185 Great South Rd, unit M:
Features: 189m² town centre retail unit with 2 tenants
Rent: $47,100/year net + gst
Outcome: sold for $620,000 at 7.6 % yield
Agents: Tony Chaudhary & Piyush Kumar

Pakuranga

43 Ben Lomond Crescent, Pakuranga.

43 Ben Lomond Crescent, Pakuranga.

43 Ben Lomond Crescent:
Features: 4375m² site, 2450m² 2-bay warehouse with offices & amenities, new 6-year lease plus one 6-year right of renewal to boat builder Rayglass, now part of multinational Brunswick Marine group , which has been occupied it for 20 years
Rent: $215,000/year net + gst
Outcome: sold for $3.33 million at a 6.5% yield
Agent: Dave Stanley & Tony Chaudhary

Papakura

Updated: 64 Boundary Rd:
Features: large yard with dual access, high-stud clearspan warehouse, certified truck wash
Rent: holding income $205,000/year
Outcome: passed in at $2.55 million, sold post-auction for $2.75 million
Agents: Shane Snijder & Peter Migounoff

Papatoetoe

2 Sutton Crescent:
Features: 675m² site, 799m² 2-level commercial building next to Hunters Plaza, 2 tenants with 2- & 5-year leases from January 2015, 15 parking spaces
Rent: $109,000/year net + gst
Outcome: sold for $1.25 million at an 8.7% yield
Agents: Nick Bayley, Geoff Wyatt & Tony Chaudhary

Wiri

14 Aerovista Place:
Features: vacant 3931m² site zoned business 6 (heavy industrial)
Outcome: sold for $1.085 million at $276/m²
Agents: Dave Stanley & Nick Bayley

South of the Bombays – Coromandel

Whitianga

20 The Esplanade:
Features: 2-level building on 868m² waterfront site, with 240m² ground-floor restaurant/café licensed for 120 patrons plus 270m² 4-bedroom apartment above
Outcome: sold with vacant possession for $1.9 million + gst
Agents:  Bev Calder & Sheree Henderson

Attribution: Auction.

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7 South Auckland properties sold

Bayleys agents have sold 7 properties around South Auckland, down as far as Waiuku, where the vacant ex-New World supermarket has been sold.

South

Drury

236 Great South Rd, units 9 & 10: 
Features: 2 units totalling 135m2, one leased for 2 years, one vacant
Rent: $22,000/year net + gst
Outcome: sold for $500,000
Agents: Peter Migounoff & Piyush Kumar

East Tamaki

139 Cryers Rd:
Features: 4500m2 site, 1662m2 building – 600m2 warehouse, 800m2 office space, 262m2 of amenities
Outcome: sold with vacant possession for $2.65 million
Agent: John Bolton

169 Harris Rd, unit A12:
Features: Modern 2-level commercial building, 113.5m2 office, 113.5m2 showroom, one-year lease expires in October
Rent: $18,000/year net + gst
Outcome: sold for $550,000
Agent: Dickie Nam

Manukau

19A Norman Spencer Drive:
Features: 401m2 industrial building – 283m2 warehouse, 118m2 amenities area, 90m2 rear fenced yard, 14 parking spaces, leased to Home Fibre Solutions for 2 years 6 months from April 2014, with 2 2-year rights of renewal
Rent: $49,600/year net + gst
Outcome: sold for $710,000 at a 7% yield
Agent: Mike Marinkovich

Manurewa

327 Great South Rd:
Features: 4282m2 vacant site zoned business 5
Outcome: sold for $1.35 million at $315/m2
Agents: Katie Wu, Roy Rudolph & John Bolton

Otara

7 Fair Mall:
Features: 500m2 shopping mall retail outlet on 612m2 site, leased to Sunlight International for 6 years from April 2011 with 4 6-year rights of renewal
Rent: $132,000/year net + gst
Outcome: sold for $1.3 million at a 10.2% yield
Agents: Tony Chaudhary, Janak Darji & Amy Way

Waiuku

9 Kitchener Rd:
Features: 1460m2 vacant building, formerly a New World supermarket, on 8866m2 town centre site in 3 titles
Outcome: sold for $800,000
Agents: Mike Adams & Paul Dixon

Attribution: Agency release.

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Surplus council land among year-end Bayleys sales in South Auckland

A private developer has bought 2 surplus Auckland Council-owned properties (in 4 titles, marked in photo) on Cavendish Drive, Manukau, which were put up for tender at the end of last year.

The council acquired the land to facilitate the widening of Cavendish Drive, which has been completed. The sites were taken to tender through Bayleys, closing in December. Cavendish Drive has become a major connecting route to Auckland Airport and Highway 20.

The land was among a number of South Auckland properties Bayleys agents sold at the end of 2014.

South

Clevedon

17 Clevedon-Kawakawa Rd:
Features: 20.15ha vacant site zoned future residential
Outcome: sold for $5.1 million at $25.50/m²
Agents: Marty Roestenburg & Chris Bayley

Manukau

39c Cavendish Drive:
Features: 330m² showroom, 83m² office, 11 parking spaces
Outcome: sold with vacant possession for $680,000
Agents: Geoff Wyatt & Dickie Nam

182-186 & 194-198 Cavendish Drive:
Features: 2 separate sites (with another block of land, not part of the sale, in between) encompassing 3098m² of business 5 mixed use-zoned land in 4 titles ranging from 770-855m²
Outcome: sold with vacant possession for $1.85 million at $597/m²
Agents: Dave Stanley, Ben Bayley & Tony Chaudhary

22 Ryan Place:
Features: 2668m² older style industrial building, low-stud warehouse with cart docks, on 5733m² site
Outcome: sold with vacant possession for $2.9 million
Agents: Sunil Bhana, Mike Houlker & Tony Chaudhary

Manurewa

185 Great South Rd, unit 22:
Features: 1695m² unit in Southmall Shopping Centre with 6-year lease to Bargain Bazaar from June 2012, no right of renewal
Rent: $56,323/year + gst
Outcome: sold for $850,000 at a 6.6% yield
Agents: Paul Dixon & Mike Adams

327 Great South Rd:
Features: 320m² warehouse on 3288m² site
Outcome: sold with vacant possession for $1.55 million
Agents: Katie Wu & Roy Rudolf

597 Great South Rd, unit B:
Features: 144m² retail outlet
Outcome: sold with vacant possession for $620,000
Agents: Tony Chaudhary & Janak Darji

22 Popes Rd, a large Takanini industrial site.

22 Popes Rd, a large Takanini industrial site.

Takanini

22 Popes Rd:
Features: 4.1552ha flat site zoned industrial under Takinini structure plan 15, area 6, currently a lifestyle block with substantial 4-bedroom home & shedding, opposite Gen-I & Revera’s new $60 million data centre
Outcome: sold for $4.1 million at $98.6/m² to owner-occupier
Agents: Marty Roestenburg & Peter Migounoff

Wiri

2 Aerovista Place:
Features: 1240m² industrial building constructed in 2003 – 936m² warehouse, 145m² showroom, 157m² of mezzanine offices, on 2217m² business 6-zoned site
Rent: holding income until September
Outcome: sold for undisclosed sum to Expedio Ltd
Agents: Luke Carran, Jamsheed Sidhwa & Mike Marinkovich

Lease

Wiri

1 Ash Rd:
Features: 650m² ground-floor office, 29 parking spaces, leased for 3 years with annual rent reviews & 2 3-year rights of renewal
Rent: $130,052/year + gst ($200/m² including parking)
Agents: Sarah Prebble, Jamsheed Sidhhwa & James Hill

Attribution: Agency release.

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