Archive | Papakura growth

Wigram sale, 6 commercial leases in Auckland & Canterbury

Knight Frank agents have reported a Wigram warehouse sale in Canterbury and 6 commercial leases in Auckland & Christchurch.

Sale

South Island – Canterbury

Wigram

22 Sonter Rd, unit 1:
Features: 470m² warehouse, 180m² office/showroom
Outcome: sold for $1.45 million at a 5.4% yield (market yield 6.5%)
Agent: Craig Edwards

Leases

South

Favona

70 Favona Rd:
Features: 1500m² industrial yard
Agent: Scott Worrall

Papakura

14B Vernon St:
Features: 250m² warehouse unit
Rent: $34,000/year + gst + opex 
Agent: Josh Franklin

South Island – Canterbury

Burnside

41 Sir William Pickering Drive, unit 5:
Features: 74m² ground-floor office unit, 3 parking spaces
Rent: $21,990/year net + gst + opex      
Agent: Campbell Taylor

CBD

48 Fitzgerald Avenue, unit 11:
Features: 347m² warehouse, 246m² showroom, 8 parking spaces
Rent: $82,000/year net + gst + opex      

Agents: Sam Stone & Elliot Clayton

68 Fitzgerald Avenue, part level 1:
Features: 159m² first-floor office tenancy, 4 parking spaces
Rent: $47,909/year net + gst + opex      
Outcome:
Agent: Tom Lax

Innovation Precinct, 181 High St, unit D3:
Features: 99² ground-floor retail tenancy
Rent: $49,005/year net + gst + opex
Agent: Tom Lax

Attribution: Agency release.

Continue Reading

8 out of 10 sell at Bayleys commercial auction

8 of the 10 properties in Bayleys’ Total Property commercial auction yesterday were sold under the hammer.

6 of them were vacant or with short leases. Of the 3 where a yield could be calculated, an Asian supermarket in Papakura (outlined in picture) sold at 4.7%, a Grange hair salon at Warkworth sold at 5.9% and a Birkenhead property with 5 tenants sold at 6%.

Isthmus east

Onehunga

12 George Terrace:
Features: vacant 521m² site, 515m² refurbished standalone industrial building, zone allows live/work or residential
Outcome: sold for $1.4 million
Agents: James Valintine & William Gubb

Parnell

11 Farnham St:
Features: 269m² site, standalone building with 4 levels built 10 years ago, 659m² floor area, private lift to penthouse on top 2 floors, conservatory, 4 bedrooms, 5/6-car garage + secured yard parking on ground floor, partitioned office & amenities on level 1, air-conditioned on levels 1-3
Outcome: sold for $3.22 million
Agents: Millie Liang

St Johns

121 Morrin Rd:
Features: 4755m² site, 2312m² high stud warehouse, 6 roller doors, small office, yard + parking
Rent: short-term tenancy in place
Outcome: sold for $6.81 million
Agents: Jamsheed Sidhwa, Luke Carran & James Valintine

North-east

Birkenhead

49-55 Birkenhead Avenue:
Features: 801m² site, 481m² floor area, 5 tenants, town centre zoning has 21m height limit
Rent: $112,070/year net + gst
Outcome: sold for $1.867 million at a 6% yield
Agents: Michael Nees, David Huang & Oscar Kuang

Browns Bay

755 Beach Rd:
Features: vacant 1029m² site, 70m² building, mixed use zoning allows building height up to 4 storeys
Outcome: passed in at $700,000
Agents: Ranjan Unka & Anna Radkevich

Rosedale

372 Rosedale Rd, unit 2A:
Features: 186.7m² first-floor office, 6 parking spaces, tenant Bayleys Real Estate Ltd
Rent: $58,209/year net + gst + outgoings, 18-month lease from 1 April, 2 18-month rights of renewal
Outcome: no bid
Agents: Matt Mimmack & Eddie Zhong

Unsworth Heights

1 Greenwich Way, shop 7:
Features: 186m² retail unit, tenant BookPrint Ltd
Rent: $51,520/year net + gst + outgoings
Outcome: withdrawn from auction
Agents: Dean Gilbert-Smith & Adam Curtis

Warkworth

The Grange, 67 Auckland Rd, unit 22A & 22B:
Features: 119m² shop, tenant Vivo Beauty Ltd
Rent: $49,100/year net + gst, new 8-year lease
Outcome: sold by the developer, Square & Main Street Ltd (Adam Reynolds) for $830,000 at a 5.9% yield
Agents: Matt Lee, James Chan & Henry Napier

North-west

Henderson

111 Lincoln Rd, unit FB:
Features: retail unit, tenant Petstock
Rent: $105,000/year net + gst, new 6-year lease
Outcome: withdrawn from auction
Agents: Tony Chaudhary & James Chan

South

East Tamaki

20 Ra Ora Drive:
Features: vacant 4885m² site, metalled, fenced & electronic security gate, former Howick Bus Co Ltd depot
Outcome: sold for $2 million
Agents: John Bolton, Roy Rudolph & Katie Wu

Papakura

303-305 Great South Rd:
Features: 2023m² site zoned business mixed use, Asian supermarket tenant
Rent: $161,740/year net + gst, new 4-year lease + 3 4-year rights of renewal
Outcome: sold for $3.44 million at a 4.7% yield
Agents: Quinn Ngo, Matt Lee & Piyush Kumar

Takanini

305 Great South Rd:
Features: vacant 990m² industrial site, 448m² warehouse
Outcome: sold for $1.52 million
Agents: Shane Snijder & Peter Migounoff

Attribution: Auction.

Continue Reading

8 out of 12 sell at Bayleys’ auction

8 of the 12 commercial properties in Bayleys’ Total Property auction on Wednesday sold under the hammer. Heaviest bidding was between intending owner-occupiers for a Penrose property on Olive Rd (pictured). 

Isthmus east

Parnell

481 Parnell Rd:
Features: 300m² site zoned mixed use, in double grammar zone, 225m² 2-level character dwelling converted for commercial use with resource consent to demolish; new 4-year lease from May 2017 to Mt Hobson Properties Ltd (Hamish Firth)
Rent: $80,000/year net + gst
Outcome: sold for $2.45 million at a 3.26% yield
Agents: Alan Haydock, Damien Bullick & Phil Haydock

Penrose

9 Olive Rd:
Features: 2043m² site, 1281m² older style industrial building, 884m² manufacturing warehouse, 257m² of offices & amenities and 109m² of mezzanines, first time on market in 34 years
Outcome: sold with vacant possession for $3.32 million at $2591.7/m² land & building
Agents: John Bolton & Roy Rudolph

Royal Oak

Royal Oak Mall, 691 Manukau Rd, unit AL:
Features: 226m² retail unit, occupied by Paper Plus since 1993
Rent: $48,845/year net + gst
Outcome: no bid
Agents: Nicolas Ching & Beterly Pan

North-east

Milford

47 Nile Rd:
Features: 688m² site zoned neighbourhood centre, 2 roadfront shops (superette & Thai takeaway) totalling 132m² and 92m² residential dwelling occupied by superette tenant; longer-term redevelopment potential
Rent: $56,200/year net + gst
Outcome: sold for $1.56 million at a 3.6% yield
Agents: Eddie Zhong, Terry Kim & Ranjan Unka

170 Wairau Rd, unit 22:
Features: 180m² retail unit in rear portion of Wairau Junction convenience centre, occupied by Wairau Foods & Spices which renewed in February for 6 years
Rent: $55,500/year net + gst
Outcome: sold for $840,000 at a 6.61% yield
Agents: Matt Mimmack & Ashton Geissler

Silverdale

4 Titan Place, unit R:
Features: 169m² workshop & office unit built in 2007, 3-phase power, air-conditioning, security alarm system, 2 parking spaces; 2-year lease to Ice Industrial Engravers Ltd from 1 July 2017
Rent: $22,500/year net + gst
Outcome: sold for $426,000 at a 5.28% yield
Agents: Rosemary Wakeman & Mustan Bagasra

Warkworth

The Grange, 67 Auckland Rd, unit 21A:
Features: 61m² unit in retail complex, currently fitted out as office accommodation and leased to Hawthorn Geddes Engineers & Architects for 6 years from April 2017; could be converted to retail
Rent: $21,315/year net + gst
Outcome: sold for $432,000 at a 4.93% yield; auction brought forward, bidding starting at declared reserve of $338,500
Agents: Matt Lee & James Chan

The Grange, 67 Auckland Rd, unit 15:
Features: 367m² unit in retail complex occupied by Fit Factory gym for 6 years from March 2017
Outcome: no bid
Agents: Matt Lee & James Chan

North-west

Henderson

114 Henderson Valley Rd:
Features: 2140m² site, 80-unit storage complex
Rent: $145,218/year net + gst
Outcome: passed in on vendor bid of $1.7 million
Agents: Shane Snijder & James Hill

Hobsonville

160 Hobsonville Point Rd, unit 5R:
Features: 118m² ground-floor retail unit, 2 parking spaces occupied by café on 10-year lease
Rent: $56,200/year net + gst
Outcome: no bid
Agents: Steven Liu & Eddie Zhong

South

Manurewa

232 Great South Rd:
Features: 2141m² site, 2025m² bulk retail building owned & occupied by family furniture business for 20 years, 2-year lease back
Rent: $170,000/year net + gst
Outcome: sold for $2.4 million at a 7.08% yield
Agents: Shane Snijder & Piyush Kumar

Papakura

32 Elliot St:
Features: 809m² corner site, 2-level main building, 157m² of ground-floor offices plus 106m² residential floor & 36m² terrace above currently occupied by beauty therapy business; 1920s 90m²  bungalow at rear with separate entrance & residential tenancy
Rent: $46,540/year net + gst from 2 commercial leases; $23,400/year from residential tenancy
Outcome: sold for $1.32 million at a 5.3% yield
Agents: Rod Grieve & Peter Migounoff

Attribution: Agency release.

Continue Reading

Bob Dey Property Report diary, week 26 June-2 July 2017

The diary lists council meetings & agendas, hearings & submissions, economic release dates, events, Parliament order paper items and securities.

Council links

All Auckland Council agendas can be reached via http://infocouncil.aucklandcouncil.govt.nz/. The council livestreams (and archives) Town Hall meetings and some other meetings. You can check those at http://councillive.aucklandcouncil.govt.nz/.

Environmental Protection Authority

Board of inquiry hearing:

East-West link, hearing opens Tuesday 27 June at 9am, Ellerslie recourse, Ascot stand, and is scheduled to run for 8-10 weeks (sitting 9-5, Tuesday-Friday the first week, Monday-Thursday thereafter)
Link: Hearing index

Auckland Council

Governing body:

Thursday 29 June at 9.30am, Town Hall:
Summary of the Tupuna Maunga Authority operational plan 2017-18
Final Tupuna Maunga Authority operational plan 2017-18
10, Annual budget 2017-18 (annual plan), for adoption (detailed governing body plan & local body agreements still to come)
Revenue & financing policy
11, Rates setting 2017-18 
12, City Rail Link agreements, for approval (first in public meeting, then in confidential)

Committees:

Forums, panels & boards:

You can check council meeting agendas through this link: http://infocouncil.aucklandcouncil.govt.nz/

In this round of local board meetings, they’re considering relationship agreements with mana whenua, Auckland Transport monthly reports, local grant applications, environment work programmes (including many small projects by locals), and park, reserve, community facility & library work programmes, refreshes of the Auckland Plan maintenance contracts that start on 1 July (Project 17), and Panuku Development Auckland 6-monthly reports at some boards.

Auckland city centre advisory board, Wednesday 28 June at 3pm, 135 Albert St

Papakura Local Board, Wednesday 28 June at 4.30pm, Papakura, council service centre, 35 Coles Crescent:
14, Leona McKenzie memorial seat, Short St, Opaheke
Recommendation
Attachments
Auckland Transport processes to install a memorial seat on a street berm
Auckland Transport application for encroachment form
Information relating to applying for a corridor access request
Auckland Transport fee schedule – corridor access requests
Information from the Ministry of Education website regarding community-funded property
Maps illustrating the distance of parks to the Opaheke School 
Leona McKenzie memorial seat report considered at 26 April 2017 Papakura Local Board meeting
Local board agenda, April 2017, item 22 (pages 81-96)
Related story, 25 June 2017: Take a rest after reading this one – but not on a memorial bench

Hearings:

Meadowbank, 6-14 Meadowbank Rd, application by Meadowbank Developments Ltd (Chris Jones – Southside Group Ltd, Arcus Property Ltd – Arrow International Group Ltd, Cary Bowkett, Alistair & Warren Dryden – Dryden Developments Ltd) for 65-unit residential development comprising a 6-storey apartment building & 3-storey terrace building; council planner Catherine Raeburn has recommended consent; hearing Monday 26 June at 9.30am, Town Hall

Parnell, 24 York St, application by NYS Developments Ltd (Colin & Jan Pauling) to build 6 new residential units through the addition of 3 storeys to the existing building to create a 6-storey building with a communal rooftop area, hearing Thursday 6 July at 9.30am, Town Hall

Submissions:

Dairy Flat, 244 Postman Rd & Wilks Rd, application by Sunrise 9 Trustees Ltd (John Hamilton) for combined subdivision & land use consent for a 43-lot rural residential development, a utility lot & taxi way, including area to site hangars; submissions close Tuesday 11 July

Highbrook, 11 Cryers Rd, application by Establish ECE Ltd (Logan Whitelaw & Paul Rodgers) for a mixed use development comprising 2 buildings – Building C containing a purpose-built childcare centre  providing for 107 children and a 24/7 gym, Building B a 1402m² double-storey retail, commercial & office building; submissions close Wednesday 19 July

Whenuapai, 106 Totara Rd & 50-52 Brigham Creek Rd, application by Whenuapai Land Co Ltd (Cameron Wilson – Oyster Capital Ltd) to build Z service station; submissions close Thursday 20 July

Auctions:

Barfoot & Thompson, apartments & commercial Thursdays at 10am, residential Tuesday-Friday at 10am & 1.30pm, 34 Shortland St
Bayleys, Total Property commercial, Wednesday 28 June at 11am, residential Wednesdays at 2pm, Bayleys House, Wynyard Quarter, 30 Gaunt St
City Sales, apartments, Wednesday 5 July at 12.30pm, 445 Karangahape Rd
Colliers, commercial, Wednesday 12 July at 11am, SAP House, 151 Queen St
NAI Harcourts, Tuesday 27 June at 1pm, Takapuna, 128 Hurstmere Rd
Ray White City Apartments, Thursdays at 12.30pm, 2 Lorne St

Economy:

June

Building consents, May, Friday 30 June
Trade – overseas merchandise, May, Tuesday 27 June

July

Accommodation survey, May, Wednesday 12 July
Building consents, June, Monday 31 July
Consumers price index, June quarter, Tuesday 18 July
Dwelling & household estimates, June quarter – tables, Friday 7 July
Electronic card transactions, June, Tuesday 11 July
Household living-costs price indexes, June quarter, Thursday 27 July
Migration, international travel, June, Friday 21 July
QV house price index, Wednesday 5 July
Trade – overseas merchandise, June, Wednesday 26 July
US Federal Reserve, open market committee, Tuesday-Wednesday 25-26 July

Events:

Waterview Connection, now scheduled to open to traffic in early July

Property Council, Thursday 6 July at 7.15-9am, The infrastructure issue: holding Auckland back, Grand Millennium, 71 Mayoral Drive

HotelsWorld, Tuesday-Thursday 25-27 July, Sydney, 4 consecutive events for hotel, resort & serviced apartment operators, investors, developers, lenders & industry professionals

Facilities Integrate 2017, Wednesday-Thursday 27-28 September at 10am-5pm, Greenlane, ASB Showgrounds

Third tripartite economic summit between Auckland, Guangzhou & Los Angeles, Wednesday-Friday 27-29 September (to be confirmed), Guangzhou
Link: Auckland Council update on the tripartite economic alliance between Auckland, Guangzhou & Los Angeles

Building for better lives, Australian national housing conference hosted by Australian Housing & Research Institute, 29 November-1 December, Sydney, International Convention Centre

Parliament:

Provisional order paper, Tuesday 27 June

Government orders of the day:

1, Appropriation (2016/17 Supplementary Estimates) Bill, second reading (introduced 25 May)
2, Energy Innovation (Electric Vehicles & Other Matters) Amendment Bill, third reading
3, Point England Development Enabling Bill, third reading
4, Land Transfer Bill, third reading
6, Local Government Act 2002 Amendment Bill (No 2), second reading (report of the Local Government & Environment Committee presented 15 June)
10, Te Ture Whenua Maori Bill, committee stage
12, Appropriation (2017/18 Estimates) Bill, committee stage, estimates debate
13, Maritime Crimes Amendment Bill, committee stage
16, Rangitane Tu Mai Ra (Wairarapa Tamaki nui-a-Rua) Claims Settlement Bill, second reading (report of the Maori Affairs Committee presented 20 March)
17, Ngati Pukenga Claims Settlement Bill, second reading (report of the Maori Affairs Committee presented 3 March)
18, Ngatikahu ki Whangaroa Claims Settlement Bill, third reading
19, Ngai Te Rangi & Nga Potiki Claims Settlement Bill, second reading (report of the Maori Affairs Committee presented 21 November 2016)
21, Tauranga Moana Iwi Collective Redress & Nga Hapu o Ngati Ranginui Claims Settlement Bill, second reading (report of the Maori Affairs Committee presented 3 March)
25, Residential Tenancies Amendment Bill (No 2), first reading (introduced 23 May)
29, Ngati Tamaoho Claims Settlement Bill, first reading (introduced 22 June)
32, Commerce (Cartels & Other Matters) Amendment Bill, committee stage
33, Taxation (Income-sharing Tax Credit) Bill, second reading (report of the Finance & Expenditure Committee presented 21 March 2011)
34, Insolvency Practitioners Bill, committee stage
35, Regulatory Standards Bill, second reading (report of the Commerce Committee presented 8 May 2015)
36, Nga Rohe Moana o Nga Hapu o Ngati Porou Bill, first reading (introduced 29 September 2008)

Members’ orders of the day:

2, Private International Law (Choice of Law in Tort) Bill, Sarah Dowie, second reading (report of the Justice & Electoral Committee presented 7 June)
3, Local Electoral (Equitable Process for Establishing Maori Wards & Maori Constituencies) Amendment Bill, Marama Davidson, first reading (introduced 11 May)

Extended sittings:

Wednesday 5 July (effective Thursday 6 July from 9am):
Rangitane Tu Mai Ra (Wairarapa Tamaki nui-a-Rua) Claims Settlement Bill, second reading (report of the Maori Affairs Committee presented 20 March)
Ngati Pukenga Claims Settlement Bill, second reading (report of the Maori Affairs Committee presented 3 March)
Ngati Tamaoho Claims Settlement Bill, first reading (introduced 22 June)

Wednesday 9 August (effective Thursday 10 August from 9am):
Rangitane Tu Mai Ra (Wairarapa Tamaki nui-a-Rua) Claims Settlement Bill, committee stage, third reading
Ngati Pukenga Claims Settlement Bill, committee stage, third reading

Submissions

Friendly Societies & Credit Unions (Regulatory Improvements) Amendment Bill, submissions close Thursday 20 July
Inquiry into 2016 local authority elections, submissions close Tuesday 22 August

Submissions to MBIE on fire safety regulations

MBIE (the Ministry of Business, Innovation & Employment) began a review in 2014 of fire regulation changes made in 2012 and has developed 4 proposals to improve clauses & compliance documents; submissions opened on 15 May and close on Friday 14 July
Link: Fire programme

Securities – NZ

Arvida Group Ltd, annual meeting, Friday 7 July at 10.30am, Christchurch, The Piano, 156 Armagh St
Goodman Property Trust, annual meeting, Wednesday 2 August at 1.30pm, SkyCity Convention Centre
Kiwi Property Group Ltd, annual meeting, Friday 28 July at 10am, Christchurch, Hagley Oval Pavilion
Ryman Healthcare Ltd, annual meeting, Thursday 27 July at 10am, Rangiora, Charles Upham retirement village

You can help fill in the gaps – Got an event you want to tell the world about? Click the email tab – [email protected].

Continue Reading

Take a rest after reading this one – but not on a memorial bench

The family of a woman who made crossing the street to & from Opaheke School, Papakura, a safer exercise for 27 years decided to offer a seat outside the school in her memory. It turns out you could dig a rail tunnel through the middle of the city centre more easily.

Leona McKenzie died in February last year aged 82. Her family’s gift of a seat went before the local board in April and was deferred to May, but only made it back on to the board’s agenda for this week’s meeting, on Wednesday evening.

From what I can see in the many pages of documents about what you might think is a simple gift to remember a very special “lollipop lady”, everything has been done by the book. What the record to this point shows, however, is an extraordinary volume of bureaucratic input – not to mention cost to the donor.

People give to their community. Once upon a time Leona McKenzie’s family might have told the school they’d like to see a seat with a plaque on it at the school gate, the school would have thought it was a good idea and it would have been done.

Now, it’s been past the school, Auckland Transport ($1000 non-refundable deposit required for an application for an encroachment licence or lease of airspace, subsoil or road surface), Education Ministry information has been added, a map showing the distance to nearby parks & reserves has been included, mana whenua haven’t yet been consulted.

One part of this intrigues me: the Auckland Transport documentation refers to “Auckland Transport land”. So you’d be wrong in thinking Auckland Transport maintains land on behalf of its owners, the ratepayers of Auckland – or would you? The semantics can make a difference to people’s thinking & actions.

If the local board decides to fund the memorial seat from the locally driven initiatives capex budget, it runs into another problem. As the comprehensive staff report says, “There is no department to drive the project.”

The super-city was formed for the whole Auckland region in 2010 to improve the provision of services and to streamline how things are done compared to the disconnects between the previous 7 territorial councils and the regional council.

And there do need to be checks & balances. But along the journey we’ve lost our way.

Below, the document trail:
Papakura Local Board, Wednesday 28 June at 4.30pm, Papakura, council service centre, 35 Coles Crescent:
14, Leona McKenzie memorial seat, Short St, Opaheke
Recommendation
Attachments
Auckland Transport processes to install a memorial seat on a street berm    
Auckland Transport application for encroachment form   
Information relating to applying for a corridor access request    
Auckland Transport fee schedule – corridor access requests    
Information from the Ministry of Education website regarding community-funded property    
Maps illustrating the distance of parks to the Opaheke School    
Leona McKenzie memorial seat report considered at 26 April 2017 Papakura Local Board meeting   
Local board agenda, April 2017, item 22 (pages 81-96)

Attribution: Local board agendas.

Continue Reading

9 Manukau residential sales & 4 at city auction for Barfoots

Anyone looking for trends in the residential auctionrooms at the moment is likely to be bamboozled – lots of sales one day, none the next.

Barfoot & Thompson’s had some quiet days at its Manukau auctions recently, but started its auction programme for this week with 7 sales under the hammer & 2 sold prior out of 21 listed.

At the city auction on Tuesday, 4 homes were sold – including a townhouse at New Lynn – 6 were passed in and 2 were withdrawn from auction.

North-west

New Lynn

3 Ambrico Place, unit 21:
Features: 2-bedroom townhouse, balcony, 2 parking spaces
Outcome: sold for $500,000
Agents: Aken Yuan & Michelle Zhou

Manukau auction sales

At the Manukau auction on Tuesday, the agency sold 7 homes under the hammer & 2 prior out of 21 listed.

The sales included a Dannemora apartment & 2 units on one title in Papakura.

South

Dannemora

Botany Palms, 2 Armoy Drive, unit 136:
Features: one-bedroom apartment, balcony, garage
Outcome: sold for $400,000
Agents: Bob Adler & Anna An

Papakura

27 Alma Crescent:
Features: 1042m² section, 2 2-bedroom flats, carport each
Income assessment: $420/week & $415/week current
Outcome: sold for $891,000
Agent: Lloyd Singh

Attribution: Auctions.

Continue Reading

3 properties pulled from auction list plus 3 more in South Auckland sold

3 South Auckland properties originally included in Bayleys’ Total Property 3 auction list, but excluded before the 17 May event, have since been sold. They are 60-62 Tiraumea Drive in Pakuranga, 254A Roscommon Rd in Wiri and 336 Great South Rd, Papakura.

Another 5 properties in East Tamaki, Flat Bush, Papakura & Pukekohe have also been sold.

South

East Tamaki

37 Greenmount Drive, unit C7:
Features: 109m² industrial unit – 81m² high stud warehouse & amenities, 28m² mezzanine floor, full height roller door & 3-phase power, 2 parking spaces, controlled access to complex
Outcome: passed in
Agents: Roy Rudolph & Katie Wu

3 Torrens Rd, unit 4:
Features: 155m² unit in Burswood retail strip, ground-floor retail space of 135m2 plus 25m² mezzanine, 4 parking spaces at front & one at rear
Outcome: sold vacant for $465,000
Agents: Katie Wu & Ken Hu

Flat Bush

201 Murphys Rd:
Features: 1386m² of bare land zoned neighbourhood centre allowing for 3-level buildings, retail on ground floor & residential above
Outcome: sold for $1.95 million at $1407/m²
Agent: Dave Stanley

Pakuranga

60-62 Tiraumea Drive:
Features: 1355m² corner site in 2 titles zoned business neighbourhood centre, 430m2 single-level building, 3 shops (one vacant) plus residential accommodation
Rent: $50,010/year net + gst, estimated potential income about $65,000/year net + gst
Outcome: sold for $940,000 at a 5.3% yield on current rent, 6.9% on prospective rent
Agents: Tony Chaudhary, Janak Darji & Amy Weng

Papakura

336 Great South Rd:
Features: 1419m² corner site, resource consent granted for childcare centre catering for 85 children in 519m² of proposed building plus existing dwelling, with plans for 3 indoor play areas & 17 parking spaces
Outcome: sold for $1.45 million
Agents: Tony Chaudhary, Amy Weng & Janak Darji

82 Hunua Rd:
Features: 1.9488ha rear, mostly bare site zoned heavy industrial
Outcome: sold with vacant possession for $4.4 million at $225.70/m²
Agents: Shane Snijder & Peter Migounoff

Pukekohe

200 King St:
Features: 220m² streetfront retail & office, occupied by a sushi shop & an accountancy practice
Rent: $76,825/year net + gst
Outcome: sold for $1 million at a 7.7% yield
Agents: Shane Snijder & Peter Migounoff

Wiri

254A Roscommon Rd:
Features: 3886m² level industrial site, security-fenced yard, 497m² of various basic buildings
Rent: $5394/year net + gst holding income
Outcome: sold for $2.15 million at $556/m2
Agents: Shane Snijder, Nick Bayley & Jamsheed Sidhwa

Attribution: Agency release.

Continue Reading

East Tamaki & Papakura commercial sales

Knight Frank agents have sold an industrial unit in East Tamaki and a shop in Papakura, and completed 2 leases in Christchurch.

Sales

South

East Tamaki

89 Springs Rd, unit F:
Features: 260m² industrial unit, 148m² upstairs accommodation
Outcome: sold for $1 million at a 5.2% yield
Agent: David Wards

Papakura

182 Great South Rd, unit 3:
Features: 98m² vacant shop
Outcome: price confidential
Agent: David Wards

Leases

South Island – Canterbury

Burnside

25A Sheffield Crescent, unit 2:
Features: 695m² warehouse
Rent: $53,000/year + gst + opex
Agent: Terry Connolly

Sockburn

2 Distribution Lane, unit 1:
Features: 580m² office & warehouse, 12 parking spaces
Rent: $102,500/year + gst + outgoings
Agent: Campbell Taylor

Attribution: Agency release.

Continue Reading

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.

Continue Reading

Knight Frank sale & lease

Knight Frank agents in South Auckland have started the year with a sale of 2 industrial units in Papakura and an office lease in Mt Wellington.

Sale:

South

Papakura

19 Vernon St, units G & F:
Features: 2 industrial units – unit F 321m², unit G 324m²
Outcome: sold for $1.3 million + gst
Agent: Josh Franklin

Lease:

Isthmus east

Mt Wellington

570 Mt Wellington Highway, unit B4:
Features: 150m² office
Rent: $56,454/year + gst
Agents: Michelle Kennard & Jarrod Qin

Attribution: Agency release.

Continue Reading
WordPress Appliance - Powered by TurnKey Linux