Archive | Waiuku

Councillors approve reclad budget but don’t disclose figure

Auckland councillors approved a budget yesterday to fix the cladding on the headquarters building it bought in 2012, but didn’t disclose the anticipated cost of the work.

The NZ Herald has cited a $31 million cost, blowing out from $4.7 million of repairs brought forward.

However, council corporate finance & property general manager Kevin Ramsay said yesterday repair proposals would be considered by the council’s tenders & procurement committee on 26 April: “This budget will now be subject to a procurement process so the amount will remain confidential until all contracts have been awarded.”

Granite slabs on the façade, all the way up to the 29th floor, will be replaced by lightweight composite panels. Mr Ramsay said about 50 products had been investigated and the final choice hadn’t been made: “It looks at this stage a material made in France but manufactured in New Zealand.”

There was plenty of grandstanding at yesterday’s meeting of the council’s finance & performance committee as numerous councillors said they hadn’t voted in 2011 to buy the new headquarters building at 135 Albert St, although none said what option they preferred to replace the civic administration building beside Aotea Square, which was contaminated by asbestos and in dire need of an upgrade for any further use.

The finance committee meeting was partly in public yesterday, but went behind closed doors for debate on legal & project-specific matters.

Like the owners of the many leaky apartment buildings around Auckland, councillors have found themselves lumbered with a purchase which requires fixing, and there’s no way out.

The former ASB Bank Centre cost the council $104 million to buy from Brookfield Multiplex. It then spent $25 million on a fitout & $28 million on other works, and budgeted $4.7 million for some repairs in its long-term plan.

Against those & future cladding repair costs, Cllr Bill Cashmore said the council had received an unsolicited offer last year to buy the building for $250 million. With some quick back-of-the-envelope calculations, Cllr Cashmore reckoned the council would be $93 million ahead in value after the cladding repairs & increased value from the finished clad.

Part of the councillor inquiry yesterday revolved around what they were told before the decision was made to buy the building, especially detail in due diligence reports. Although the $4.7 million was set aside, and the purchase price reduced, as a result of due diligence, councillors said they weren’t aware of detail in Mott MacDonald’s due diligence report saying silicon sealant between every piece of granite needed replacing.

Mr Ramsay said the granite itself wasn’t a problem, the sealant needed to be replaced and fixings were being corroded by water ingress behind the panels. However, he said, “This is not a case of water getting inside the building and affecting the structural integrity of the building.”

A hanging scaffold & working platform will be used at the top of the building for replacement work, and the granite cladding below podium level will be refixed to the building.

Hobsonville Pt & Awhitu pa decisions

The council finance committee also approved, without debate, the sale of 20ha at Hobsonville Point for housing. The site was intended for several years for a marine industry precinct and then, last year, for a screen industry precinct.

And the committee approved the transfer to Ngati te Ata of a 17.7ha pa site on the Awhitu Peninsula, 22 years after the event which brought about the transfer occurred.

Earlier stories:
26 February 2016: Council approves initial budget advance for HQ cladding repairs
22 February 2016: Council HQ cladding fix turns into a major
11 April 2016: 22 years on, Awhitu pa site to be transferred
11 April 2016: Sale of marine precinct-that-wasn’t up for approval

Image above: The council headquarters at 135 Albert St. The red lines are the granite panels to be replaced.

Attribution: Council committee meeting & releases.

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22 years on, Awhitu pa site to be transferred

Transfer of a 17.7ha pa site on the Awhitu Peninsula to Ngati te Ata is set to be approved as a gift on Tuesday, 22 years after the event which brought about the transfer occurred.

In 1994, Franklin District Council approved a 5-lot subdivision beside Lake Pokorua, 14km from Waiuku up the peninsula which runs to the Manukau Harbour entrance’s south head.

Council team leader Paul Marriott-Lloyd & policy analyst Erin Taylor say in their report to Tuesday’s meeting of Auckland Council’s finance & performance committee a pa site of cultural significance to Ngati te Ata was damaged during construction of a road to support the subdivision, and a claim of negligence was taken against the district council. In addition, the property to be subdivided had been identified in the cultural heritage inventory as containing several pa sites, but the subdivision application was never checked against the inventory or other provisions under the Historic Places Act.

The lot containing the pa sites was divided in 3 in 1995 – 1.98ha for an historic reserve to be held by the old council, the 17.7ha to be transferred to Ngati Te Ata, and a 2630m² wetland site to go to the Department of Conservation. The department said a year ago it didn’t want the gift because it would cost more to manage than its ecological value, but Auckland Council hasn’t said would happen to the wetland ownership as an alternative.

The district council used a public indemnity insurance payout to buy the large lot for $150,000 under the Public Works Act in 1996, but the transfers weren’t registered until 2009.

Move forward to 2010 – the last year for Auckland’s old councils before they became part of the super-city Auckland Council – and Franklin reconfirmed its decision on the division of land. However, the Auckland Council report says this resolution wasn’t recorded in accordance with section 31 of the Local Government (Tamaki Makaurau Reorganisation) Act 2009, so it wasn’t actioned when Franklin was amalgamated into Auckland Council.

The council report says there’s no public use of the pa site, valued at $385,000, and the council has no plans to use or develop it. The report’s authors say Ngati te Ata has signalled that it would like to establish papakainga housing, kainga & a whare oranga on the site.

Link:
Council agenda: 11, Proposed transfer of land adjacent to Lake Pokorua

Attribution: Council committee agenda.

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3.6% yield in Newmarket leads Bayleys’ 9 Greater Auckland sales

Bayleys sold 6 properties under the hammer at its Greater Auckland auction yesterday and another 3 prior – the last under that banner before it becomes part of the Total Property series.

A building on Morrow St, Newmarket, went on the market at $4.725 million and sold after about 70 bids at $6.125 million, at a 3.57% yield. It was the property people had come to see – the packed auctionroom began to empty, except there was more action with the next lot on the list, a shop in Rialto, around the corner on Broadway. That sold at a 5.2% yield.

Usually at these auctions interest dwindles towards the end, but the list was shorter than most in the Greater Auckland series have been and the final offering, a vacant retail unit in Papatoetoe, brought on a bidding battle between 3 local investors. The property went on the market at $710,000 and sold after about 60 bids at $871,000.

CBD

CBD eastern fringe

31 Beach Rd:
Features: 288m² building on development site adjoining site of proposed Antipodean apartments; under the proposed unitary plan, the height limit would be 50m
Rent: $85,000/year holding income
Outcome: passed in at $2.45 million
Agents: Oscar Kuang & James Chan

Queen St

Mid-City, 239 Queen St, unit 2D:
Features: 242.4m² in 2 tenancies – 150.9m² yum cha restaurant, balance vacant, chattels valued at over $200,000 included in sale
Rent: partly tenanted with income of $31,000/year net + gst
Outcome: withdrawn from auction
Agent: Millie Liang

Isthmus east

Epsom

561-563 Manukau Rd & 2B Empire Rd:
Features: 3 buildings on 410m² corner site, 376m² floor area – 2-storey weatherboard building, retail on street, one-bedroom flat above; 2-storey office building on side street, 7 parking spaces; proposed unitary plan would increase potential to 16m height in double Grammar zone
Outcome: sold for $2.175 million
Agents: Damien Bullick & Alan Haydock

Newmarket

Cotton On in the Rialto, Newmarket Broadway.

Cotton On in the Rialto, Newmarket Broadway.

Rialto, 153 Broadway, unit 1G:
Features: 187m² shop in Rialto tenanted by Cotton On on 8-year lease from September 2015
Rent: $158,780/year net
Outcome: sold for $3.05 million
Agents: James Chan & Matt Lee

34 Morrow St:
Features: 754m² corner site across Morrow St from the rear of the Westfield 277 Broadway mall, where extension is planned, mixed-use zoning, 601m² floor area, 2 levels of retail & showroom, 10 parking spaces
Rent: $218,820/year + gst, fully leased
Outcome: sold for $6.125 million at a 3.57% yield
Agents: Kate Kirby

Onehunga

157 Neilson St:
Features: 1066m² site, 672m² building, 492m² high-stud warehouse, 69m² office/reception area, 111m² mezzanine, multiple roller doors
Outcome: sold prior for $1.175 million
Agents: James Valintine & Sunil Bhana (in conjunction with CBRE)

104 Princes St:
Features: 1204m² site, 770m² commercial/light industrial building – 100m² refurbished office, 670m² high stud warehouse
Outcome: passed in at $1.25 million
Agents: James Valintine & Mike Adams

Isthmus west

Grey Lynn

8 Newton Rd:
Features: 304m² site, 318m² total floor area, New York loft-style apartment upstairs, commercial possibilities downstairs, seismic rating 70% new building standard
Outcome: passed in at $1.4 million
Agents: Tonia Robertson & James Chan

North-east

Albany

6 Omega St, unit 2:
Features: 168m² ground-floor office, 3 exclusive parking spaces
Outcome: no bid
Agents: Ranjan Unka & Dean Gilbert-Smith

Silverdale

32 Forge Rd, unit E:
Features: 334m² warehouse & office unit, 7m stud
Outcome: sold prior for $650,000
Agents: Rosemary Wakeman & Ashton Geissler

North-west

New Lynn

7 Portage Rd:
Features: 2404m² site, 1164m² warehouse & office building
Outcome: sold vacant to owner-occupier for $2.4 million
Agents: Mike Adams & James Appleby

South

East Tamaki

333 East Tamaki Rd, unit B:
Features: 420m² office, showroom & warehouse, versatile configuration, 2 roller doors at front & rear, 7 parking spaces
Outcome: sold prior for $780,000
Agents: Katie Wu & John Bolton

41 Trugood Drive, unit 1:
Features: 867m² industrial unit, high stud warehousing, leased to Anzor Fasteners Ltd for 12 years from March 2008 with 2 4-year rights of renewal, 12 parking spaces
Rent: $141,580/year net + gst + opex
Outcome: sold for $2.32 million at a 6.1% yield
Agents: Matt Mimmack & Jamsheed Sidhwa

Papatoetoe

39 East Tamaki Rd, Papatoetoe.

39 East Tamaki Rd, Papatoetoe.

39 East Tamaki Rd, unit B:
Features: vacant 360m² retail unit (outlined), building has seismic rating of 70% new building standard, onsite parking
Outcome: sold for $871,000
Agents: Tony Chaudhary & Janak Darji

Waiuku

57 Queen St:
Features: 2016m² site, standalone building, 2 tenants, 25 parking spaces
Rent: $67,353/year net + gst
Outcome: passed in at $850,000
Agent: Stuart Bode

Attribution: Auction.

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Unusual Shore apartment sold, commercial sales & leases

A large apartment in the old Devonport power station was sold at auction last week, and Bayleys agents concluded 2 commercial sales in Takapuna and one in Waiuku, plus leases in Rosedale & Takapuna.

Apartment

North-east

Devonport

47-49 Church St, unit 3:
Features: 330m², one of 3 apartments in the Devonport power station, 5 bedrooms over 3 levels, private terrace garden, separate self-contained accommodation
Outcome: sold at auction for $1.59 million
Agents: Prue de Bie & Diana Poor

Commercial sales

North-east

Takapuna

8 Eldon St
Features: 883m² site, 150m² commercial building, 5 parking spaces
Rent: $51,354/year + gst
Outcome: sold pre-auction for $2.2 million at 2.33% yield
Agents: Simon Aldridge, Chris White, Tonia Robertson & Michael Nees

132 Hurstmere Rd:
Features: 1503m² site, 1483.63m² building – retail 170.5m², office 1313.13m², deck 112m², 28 parking spaces
Rent: $459,771.85/year net
Outcome: sold in October for $7.5 million at a 6.13% yield, $4990/m²
Agents: Tonia Robertson, Chris White, Ranjan Unka, Simon Aldridge & Eddie Zhong

South

Waiuku

6 Court St:
Features: 1243m² site, 559m² floor area, 2 buildings on a single title, roadfront exposure
Rent: $48,000/year gross + gst, fully tenanted with 4 tenants
Outcome: sold at auction for $815,000
Agents: Graeme Moore & Shane Snijder

Leases

North-east

Rosedale

38 Constellation Drive:
Features: 1155m² of retail space
Rent: $235,000/year net + gst
Agents: Ashton Geissler & Matt Mimmack

239N Rosedale Rd:
Features: 67m² retail, 2 parking spaces
Rent: $17,000/year net + gst, premises rental $254/m²
Agents: Dean Gilbert-Smith

Takapuna

13 Barrys Point Rd, unit 1:
Features: 136m² floor area, 3 parking spaces,
Rent: $38,000/year net + gst
Agents: Ashton Geissler & Dean Gilbert-Smith

Attribution: Company release.

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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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Sale concluded on second fringe Waiuku block

Published 23 November 2012

The second of 2 rural lots on the outskirts of Waiuku, taken to auction 3 weeks ago, has been sold.

An 11.1ha lot on lot 1 on Constable Rd was sold under the hammer for $610,000, but the 24.7ha at 92 Constable Rd was passed in at $1 million. Bryan Richardson, of LJ Hooker Ponsonby, said yesterday the larger lot had been sold to a local farmer for $1.225 million.

Although both properties immediately raise subdivision prospects in a region where urban expansion is being investigated everywhere, Mr Richardson said neither property suited being turned over to housing: “The larger block’s a run-off, that’s all it’s really good for. It’s not an economic unit, but it has a good villa on it. It is wet.”

After the auction, he said the longstanding stormwater problem at Waiuku was one of the reasons it would be a long time before these properties are subdivided. Both were sold at their rural valuation.

Earlier story:

13 November 2012: Land on Waiuku outskirts awaits stormwater fix before subdivision

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Attribution: Agency, story written by Bob Dey for the Bob Dey Property Report.

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Land on Waiuku outskirts awaits stormwater fix before subdivision

Published 13 November 2012

2 blocks of rural land on the outskirts of Waiuku have been sold at auction, but their sale isn’t expected to result in a sharp lift in subdivision supply.

The 2 blocks are on Constable Rd, 24.7ha at No 92 and 11.1ha on lot 1 across the road.

Bryan Richardson, of LJ Hooker Ponsonby, said the smaller lot was sold under the hammer for $610,000 at the 31 October auction and the larger lot was passed in at $1 million. A conditional contract has since been signed for a higher figure.

Mr Richardson said the land was “just rural. It’s a bit wet – there’s been a stormwater problem at Waiuku and that’s one of the reasons it will be a long time before they’re subdivided”.

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Attribution: Phone interview, story written by Bob Dey for the Bob Dey Property Report.

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Rural-residential subdivision planned for Waiuku fringe

Published 10 May 2011

Jurisdiction: Auckland Council

Neighbourhood: Waiuku

Applicant: Steven Palmer Ltd (Steven Palmer, Waiuku)

Application detail: 11 Awhitu Rd, application to subdivide a 2.8243ha rural-zoned property into 5 rural-residential lots ranging from 6414-9058m² and served by a right of way.

Notification date: 10 May

Submission closure date: Wednesday 8 June

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Attribution: Council notice, story written by Bob Dey for the Bob Dey Property Report.

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Fernleigh Business Park rezoning approved

Published 18 March 2011

Auckland Council’s regional development & operations committee approved Franklin plan change 23 for theFernleigh business park at Waiuku on Tuesday and it will become operative once the decision has been publicly notified.

The 53ha business park will contain a 40.5ha industrial zone & 4.5ha industrial services zone plus 8ha for stormwater, recreation & roads.

 

Website: Fernleigh Business Park

 

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Attribution: Council committee meeting & agenda, story written by Bob Dey for the Bob Dey Property Report.

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Waiuku town centre redevelopment starts

Published 17 January 2010

Franklin District Council has begun stage 2 of the Waiuku town centre redevelopment and expects to complete it by mid-August. John Fillmore Contracting Ltd has the contract.

The $2 million project includes the redevelopment of lower Queen & Bowen Sts and creating a town square around the clock tower.  

Council works & services general manager Barry Bergin said: “To create the town square, one side of the road will be blocked to traffic permanently and turned into an attractive public space for the public to enjoy. The project will create a clean, fresh, user-friendly cbd, while also retaining the unique historical elements of Waiuku.”  

The work will involve replacing the existing paving to match that of the paving from the $2 million stage 1 redevelopment, completed early last year. Landscaping, kerb-&-channel work, street & amenity lighting, street furniture, stormwater, electrical works and reconstruction of part of Queen St are also included in the scope of works, and the clock tower will get a facelift.

 

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Attribution: Council release, story written by Bob Dey for the Bob Dey Property Report.

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