Tag Archives | B&T Commercial

Bendon showroom sells at auction but 3 other properties fail to attract a bid

A Bendon Retail showroom in Otara sold on a 4.4% yield at Barfoot & Thompson’s commercial auction yesterday.

2 retail assets in an Avondale shopping centre building – one with some residential potential and both with a 32.5m height limit through their town centre zoning under the new unitary plan – were passed in without a bid. A Ponsonby office unit also failed to attract a bid.

Isthmus west

Avondale

1976 Great North Rd, unit 5:
Features: 140m², ground-floor retail unit with 10 years to run on lease
Rent: $49,735/year net + gst
Outcome: declared reserve $695,000, no bid
Agents: Reese Barragar & Colin Stewart

1976 Great North Rd, unit 6:
Features: 227m², 3 tenants – 2 retail + unconsented residential
Rent: $75,400/year gross
Outcome: declared reserve $895,000, no bid
Agents: Reese Barragar & Colin Stewart

Ponsonby

70 Ponsonby Rd, unit G5:
Features: office unit, 2 large signboards & secure parking space, on ground floor of the Quest apartment complex
Rent: $42,640/year net + gst on new long-term lease
Outcome: no bid, back on market at $898,000 + gst
Agents: Reese Barragar & Murray Tomlinson

South

Otara

18 Birmingham Rd:
Features: 1143m² section, 602m² building; Bendon Retail Ltd, tenant since 1999, is on 2-year lease with one more 2-year right of renewal
Rent: $53,857/year net + gst
Outcome: sold for $1.211 million at a 4.44% yield on current rent
Agents: James Marshall & Murray Tomlinson

Attribution: Auction.

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Gillies Ave offramp site & Interplex warehouse sell

Safari Group (NZ) Ltd has paid $4001/m² to buy a site beside the Southern Motorway offramp at Gillies Avenue, Epsom, for an apartments hotel, but hasn’t decided on the brand yet.

Safari has developed Quest, Ramada & Wyndham hotels around New Zealand as well as apartments & commercial property.

The consented development shape for 41-43 Gillies Avenue.

The site at 41-43 Gillies Avenue comes with a consented Leuschke design for 86 apartments. It’s across the intersection from the historic Highwic House, which has its entry off Mortimer Pass in Newmarket.

The sale was agreed before the scheduled closing of tenders this week.

It was one of 2 large commercial property sales by Barfoot & Thompson Commercial agents leading into Easter. The other was a vacant warehouse in the Interplex business park at Rosedale, on the North Shore, which is now up for lease.

Isthmus east

Epsom

41-43 Gillies Avenue:
Features: 2689m² beside the southbound offramp from the Southern Motorway at Gillies Avenue, 2 large houses occupy the site
Outcome: sold for $10.76 million at $4001/m²
Agent: Marie-Anne Molloy

Big Shore warehouse sale

6 Canaveral Drive, Rosedale.

Barfoot & Thompson Commercial agents said they’d achieved the highest price for an industrial property sale on the North Shore in 2½ years with the sale of a vacant warehouse in the Interplex business park to a local investor.

North-east

Rosedale

Interplex business park, 6 Canaveral Drive:
Features: 6417m² site, vacant 3228m² warehouse & office building – warehouse 2732m², dual roller-door access, office 448m² on 2 levels, showroom 48m², 70 parking spaces
Outcome: sold for $7.5 million
Agents: Chris Peterson, Chase Erceg, Simon Farland & Duane Mullooly

Attribution: Agent releases.

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Updated: 2 sell at Barfoots commercial auction, third sells later

Published 23 February 2017, updated 2 March 2017:

One commercial property in Otahuhu sold under the hammer and another in Penrose (pictured) sold a few minutes later at Barfoot & Thompson’s commercial auction on 23 February.

A third property, in the Surrey Crescent shops, didn’t attract a bid but was sold post-auction.

Isthmus east

Otahuhu

71 Portage Rd, unit F:
Features: 66m² unit, previously a lunch bar at front of light industrial precinct, 5 parking spaces
Outcome: sold for $310,000
Agent: Mike Jensen

Penrose

26 Botha Rd:
Features: vacant 895m² light industrial site, 2 warehouses of 239m² & 355m², parking 
Outcome: passed in at $1.15 million, sold shortly after for $1.25 million
Agents: Nick Wilson & James Marshall

Isthmus west

Grey Lynn

Updated: 604 Great North Rd:
Features: 153m² standalone retail property at the Surrey Crescent shops, rear access (1/16 share in right of way), onsite parking 
Rent: $30,500/year on lease running until November 2018
Outcome: no bid, sold post-auction for $890,000
Agents: Marie-Anne Molloy

Attribution: Auction.

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Propbd on Q Th1Dec16 – auction results galore – apartments, cross-leases, Total Property

I have a large volume of auction results in various stages of processing, so you can check whether they’ve sold while I continue with the full details for each one.

Ray White City Apartments Thursday:

Tetra House, 85 Wakefield St, unit 606, sold for $365,000
One on Ophir, 1 Ophir St, unit 1A, sold for $583,900
Waterloo Towers, 20 Waterloo Quadrant, unit 8, sold for $650,000
Queens Residence, 8 Airedale St, unit 1507, no bid
Ellerslie Court, 3A Harrison Rd, unit 6, no bid
Aura, 53 Cook St, unit 1315, passed in at $410,000
Pulse, 80 Richmond Rd, unit 3S, passed in with vendor indicator bid of $400,000
Wiltshire, 89 Victoria St West, unit 2C, no bid

Barfoot & Thompson Thursday afternoon residential (apartments, townhouses & cross-leases only):

Mt Albert, 41 Owairaka Avenue, unit 3, cross-leased unit, sold for $695,000
Onehunga, 12A Wallath Rd, cross-lease, sold for $740,000
Onehunga, 40 Spring St, unit 1, no bid
Onehunga, 93Q Mays Rd, terrace, no bid
Meadowbank, 146 St Johns Rd, unit 8, no bid
Greenlane, 15 Matai Rd, unit 1, cross-leased unit, passed in
Royal Oak, 16 Boyd Avenue, unit 2, cross-leased unit, no bid
18 Wakefield St, unit 3H, apartment, sold for $700,000
Greenlane, 3A Nolan Rd, cross-lease, passed in
Blockhouse Bay, 158 & 160 Boundary Rd, 2 units, withdrawn from auction
Howick, 57B Cook St, cross-lease, sold for $965,000

Barfoot & Thompson Thursday apartments & commercial:

Grey Lynn, 376 Great North Rd, commercial building, sold for $3.85 million
Metropolis, 1 Courthouse Lane, unit 2302, passed in at $430,000
Darlinghurst, 50 Eden Crescent, unit 1C, passed in at $405,000
Newmarket, 8 Clayton St, unit 23, sold for $450,000
Harvard, 147 Hobson St, unit 10P, sold for $486,000

Barfoots Wednesday afternoon residential (apartments, townhouses & cross-leases only):

Three Kings, 26A Princes Avenue, cross-lease, sold for $1.01 million
Epsom, 9 Karetu Rd, cross-lease, sold for $2.2 million
Freemans Bay, 11 Sheridan Lane, cross-leased unit, sold for $1.44 million
Remuera, 3G Laxon Terrace, unit, passed in
Mt Eden, 72 Prospect Terrace, unit 2, cross-leased townhouse, no bid
Mt Eden, 39A View Rd, cross-lease, sold for $1.355 million
Grey Lynn, 61 Wellpark Avenue, cross-lease, no bid
Epsom, 593 Manukau Rd, unit 2, cross-leased unit, passed in
Greenlane, 170 Green Lane West, unit 6, in body corporate, passed in
Avondale, 1, 1A & 3 Glendon Avenue, 3 houses on separate titles, total 2276m², no bid
Remuera, 90 Remuera Rd, unit 15, cross-leased apartment, no bid
Epsom, 53 Disraeli St, unit 1, cross-lease, sold for $1.255 million
Western Springs, 27 Bannerman Rd, cross-lease, no bid
Avondale, 6 Methuen Rd, cross-lease, sold for $992,000
Sandringham, 94 St Lukes Rd, unit 3, cross-lease, no bid
Avondale, 32 Powell St, house in body corporate, sold for $805,000
Onehunga, 8 Inkerman St, unit 9, cross-leased unit, passed in
Sunnyvale, 123 Millbrook Rd, unit 1, cross-lease, no bid

Barfoots Wednesday morning residential (apartments, townhouses & cross-leases only):

Glendowie, 32 Roberta Avenue, unit 4, cross-leased unit, sold for $1.35 million
Glendowie, 36 Wendover Rd, cross-lease, sold for $1.32 million
Kohimarama, 38 Whytehead Crescent, unit 1, cross-leased unit, no bid
St Heliers, 42 Sylvia Rd, cross-lease, passed in

Bayleys Wednesday residential:

148 Quay St, unit 11C, apartment, passed in (vendor bid at $1.2 million)
Herne Bay, 2 Herne Bay Rd, unit 4, cross-leased unit, sold for $800,000
St Heliers, 24 Auckland Rd, unit 4, cross-lease, passed in at $950,000
Te Atatu South, 132 Edmonton Rd, unit 3, cross-lease, passed in at $650,000
Bianco off Queen, 8 White St, unit 6A, apartment, sold for $650,000
Metropolis, 1 Courthouse Lane, unit 2312, apartment, passed in at $775,000
Henderson, 16 Frank Evans Place, unit 1, cross-leased townhouse, no bid
Pt Chevalier, 209A Pt Chevalier Rd, cross-leased unit, sold for $764,000

Bayleys Wednesday Total Property commercial:

205 Federal St, unit R1, passed in at $475,000
23 Whitaker Place, units 110 & 111, sold for $150,000
Mid-City, 239 Queen St, unit 2A, no bid
105 Symonds St, shop 5, Nata Portuguese Bakery, passed in at $500,000
105 Symonds St, shop 9, laundromat, passed in at $350,000
105 Symonds St, shop 11, The Corner Café, passed in at $500,000
103-105 Symonds St, unit 15, Anytime Fitness, withdrawn from auction
Onehunga, 106 Beachcroft Avenue, sold vacant for $1.505 million
Onehunga, 255 Onehunga Mall, sold for $2.21 million
Otahuhu, 121 Church St, declared reserve of $800,000, sold prior for $933,000
Panmure, 141-157 Queens Rd, no bid, Mark Pittaway
Penrose, 419B Church St East, passed in after vendor bid at $3.7 million
Morningside, 4 Taylors Rd, sold vacant for $2.9 million
Pt Chevalier, 1191 Great North Rd, sold for $155 million
Birkenhead, 268 Onewa Rd, unit 10A, withdrawn from auction
Torbay, 934 Beach Rd, sold for $1.8 million

Warkworth, stage 3 of the Grange, 67 Auckland Rd:
Unit 5A, Cizzlin, sold for $1.005 million at a 6.47% yield
Unit 13B, The Grange Bakery, sold for $560,000 at a 5.34% yield
Unit 11, Fish Nets, sold for $565,000 at a 5.48% yield
Unit 14, Green Bay Fruit & Veg, passed in after vendor bid at $1.25 million
Unit 22, Cross Gate Variety Store, withdrawn from auction

Henderson, 349 Great North Rd, sold for $1.045 million
Henderson, Lincoln North shopping centre, 192 Lincoln Rd, unit B4, sold for $465,000
East Tamaki, 12 Amera Place, unit 5, passed in at $900,000
East Tamaki, 9-11 Nandina Avenue, sold for $2.86 million
Howick, 8-14 Moore St, passed in at $2.11 million
Manukau, 792 Great South Rd, unit 6, passed in at $750,000
Papatoetoe, 52-58A St George St, no bid
Pukekohe, 1722 & 1748 Buckland Rd, no bid
Napier, 359 Marine Parade, sold for $3.75 million
Whitianga, 17 Monk St, sold for $1.03 million

City Sales Wednesday:

Eden Apartments, 32 Eden Crescent, unit 10D, sold prior
96 on Symonds, 96 Symonds St, unit 101, passed in at $321,000
Connaught, 14 Waterloo Quadrant, unit 4K, sold for $340,500
CityZone, 11 Liverpool St, unit 1107, passed in at $340,000
Grey Lynn, 33 Mackelvie St, unit 1C, passed in at $410,000

Colliers Wednesday:

Takanini, 9 Walters Rd, sold vacant for $1.2 million

Attribution: Auctions.

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Silo apartment & St Johns industrial unit sell

An apartment in the Silo on Emily Place and an industrial unit in St Johns were sold under the hammer at Barfoot & Thompson’s auction yesterday morning. Biggest bid of the session was for an old retail & residential building at the city end of Mt Eden Rd (pictured), which was passed in at $2.3 million.

3 of the 7 properties on the auction list received no bid.

Apartments

CBD

Learning Quarter

Silo, 23 Emily Place, unit 11G:
Features: 2-bedroom loft, study, balcony, secure parking space
Outgoings: body corp levy $829/year
Outcome: sold for $705,000
Agent: Aaron Cook

Madison, 145 Symonds St, unit 704:
Features: 54m², one bedroom, study, parking space
Outgoings: body corp levy $5302/year
Outcome: passed in at $450,000
Agents: Stephen Shin & Richard Han

Victoria Quarter

Harvard, 147 Hobson St, unit 10C:
Features: 2 bedrooms
Outgoings: body corp levy $4111/year
Outcome: no bid
Agents: Jason Li

Isthmus west

Eden Terrace

Memphis, 11 Charlotte St, unit 1C:
Features: 91m², 2 levels, 2 bedrooms, 2 parking spaces
Outgoings: body corp levy $4485/year
Outcome: no bid
Agents: Stephen Shin & Richard Han

Grey Lynn

M-One, 250 Richmond Rd, unit 2B:
Features: one bedroom, balcony, parking space; remedial issues identified & cost planning underway
Outgoings: body corp levy $3350/year, remediation levy for design & consent $4680, buyer liable for all levies for these works
Outcome: no bid
Agents: Alex Allan & Rita Herceg

Commercial

Isthmus east

Grafton

15-19A Mt Eden Rd:
Features: 445m² site, 450m² building, 2 retail tenancies – Bamboo Kitchen & smaller vacancy, 5/6-bedroom flat upstairs
Rent: potential $165-170,000 fully leased
Outcome: passed in at $2.3 million
Agents: Murray Tomlinson

St Johns

90 Elizabeth Knox Place, unit 1:
Features: vacant 181m² industrial unit – 42m² mezzanine, small office/showroom, warehouse, 4 parking spaces
Outcome: sold for $810,000
Agents: Mike Jensen

Attribution: Auction.

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Small Onehunga warehouse sells at $3600/m²

A small Onehunga warehouse unit (outlined) sold at $3600/m at Barfoot & Thompson’s auction today. A Kelston commercial unit was also sold. The one apartment on the auction list were passed in.

The Onehunga unit’s auction was brought forward, with a $450,000 offer deemed acceptable. Under strong bidding, another $180,000 was added.

Apartments

CBD

Learning Quarter

Metro, 82 Wakefield St, unit GA:
Features: 76m², 2 bedrooms, study, 2 balconies, parking space
Outgoings: rates $1447/year including gst; body corp levy $7471/year
Outcome: sold prior; my records show it was sold by Aileen Wu of Ray White for $550,000 in June
Agents: Casey Chen & Leo Shin

Uptown

CityZone, 11 Liverpool St, unit 1401:
Features: 45m², fully furnished 2 bedrooms
Outgoings: rates $1164/year including gst; body corp levy $3042/year
Outcome: passed in at $310,000, back on market at $415,000
Agents: Alexander Kramarenko

Isthmus east

Newmarket

Belvue, 9 Sarawia St, unit 308:
Features: cross-lease, one bedroom
Outcome: sold prior
Agents: Sarah Garlick & Estee Zeng

Commercial

Isthmus east

Onehunga

8 Rowe St, unit D:
Features: 175m² unit, vacant in January – 145m² warehouse, 30m² office, stud 3.7m rising to 4.6m, mezzanine above office for light storage, 2 toilets, 2 roller doors, 3 parking spaces with potential for stacking
Outgoings: body corp levy $1249/year
Outcome: auction brought forward with bid at $450,000 reserve, sold for $630,000 at $3600/m²
Agents: James Marshall & Nick Wilson

North-west

Glen Eden

365 West Coast Rd:
Features: 2.28ha development site in Glen Eden industrial precinct holding consent for 52 commercial/industrial units
Outcome: withdrawn from mortgagee auction
Agents: Colin Stewart & Steve Miles

Kelston

15D Sabulite Rd:
Features: 240m² warehouse with shower, kitchenette, 3-phase power, 7 parking spaces
Outcome: sold for $527,000
Agents: Duane Mullooly & Chris Peterson

Attribution: Auction.

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5 sales & 6 leases on Shore & Silverdale

Barfoot & Thompson Commercial agents on the Shore have signed 4 sales in the Rosedale area of Albany and one at Silverdale, and 5 leases at Rosedale plus one in Browns Bay.

North-east

Sales

Rosedale

4 Antares Place, unit G1:
Features: 88.7m² office
Outcome: sold for $322,000
Agent: Brian Paulin

5 Ceres Court, unit 1H:
Features: 108m² office
Outcome: sold for $430,000
Agents: Max Andrews & Aaron Smith

59 Corinthian Drive, unit 2:
Features: 648m² industrial building – 463m² warehouse, 145m² office, 40m² canopy
Outcome: sold for $1.5 million
Agents: Chase Erceg & Simon Farland

14 Cowley Place:
Features: 1080m² site, 480m² industrial building – 365m² warehouse, 115m² office
Outgoings: rates $/year including gst; body corp levy $/year
Rent: $80,000/year
Outcome: sold for $1.712 million at a 4.6% yield
Agents: Chase Erceg & Yi Wei Lowndes

Silverdale

16 Wainui Rd, unit 10:
Features: 203m² retail unit, tenant ASB Bank Ltd
Outcome: sold for $2.078 million at a 4.5% yield
Agents: Gary Seekup & Bruce Jiao

Leases

Browns Bay

26-28 Anzac Rd, unit 7:
Features: 90m² retail unit
Rent: $45,630/year
Agents: Max Andrews & Aaron Smith

Rosedale

29 Apollo Drive, unit 203:
Features: 280.6m² office, 8 parking spaces
Rent: $76,000/year
Agent: David Goodhue

10 Canaveral Drive, unit 4:
Features: 467m² industrial unit
Rent: $68,000/year
Agents: Chase Erceg & Josh Warren

12A Parkhead Place:
Features: 732m² industrial building – warehouse 575m², office 157m², 14 parking spaces
Rent: $115,000/year
Agents: Chase Erceg & Josh Warren

42 Tawa Drive, building E, suite F:
Features: 89.4m² office
Rent: $23,700/year
Agents: Tim Bibby, Max Andrews & Aaron Smith

4A Te Kea Place:
Features: 166m² office
Rent: $32,000/year
Agents: Aaron Smith

Attribution: Agency release.

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

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

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

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

North-east

Albany

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

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

Rosedale

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

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

Wairau Valley

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

South

Manukau

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

Attribution: Auction.

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10 sales & 7 leases for Shore agents

Barfoot & Thompson Commercial agents on the North Shore have clocked up 10 sales & 7 lease transactions.

Sales:

Isthmus west

Grey Lynn

252-258 Great North Rd:
Features: 1002m² development site zoned mixed use, 15m height limit increased to 16.5m under unitary plan
Rent: holding income of $74,160/year expiring next month
Outcome: sold last September for confidential sum, sold this time for $6 million
Agents: Bruce Jiao & Gary Seekup

North-east

Orewa

382-384 Hibiscus Coast Highway:
Features: 2024m², 2 adjacent properties, 8-unit going-concern motel, 3 separate residential tenancies motel & development site
Outcome: sold for $3.69 million
Agents: Gary Seekup & Bruce Jiao

Rosedale

6 Airborne Rd, unit 10:
Features: retail 60m², office 20m², warehouse 60m²
Outcome: sold for $620,000
Agents: Elaine Tutty & Aaron Smith

6 Airborne Rd, unit 18:
Features: 130m² warehouse
Outcome: sold for $620,000
Agents: Elaine Tutty & Aaron Smith

4N Antares Place:
Features: 102m² office
Outcome: sold for $410,000
Agent: Brian Paulin

5 Ceres Court, unit 2D:
Features: 107m² office suite
Outcome: sold for $410,000
Agent: Brian Paulin

241B Rosedale Rd:
Features: 50m² office, 50m² retail
Outcome: sold for $400,000
Agents: Aaron Smith & Max Andrews

Silverdale

16 Wainui Rd, unit 10:
Features: 203m² retail
Outcome: sold for $2.078 million
Agents: Gary Seekup & Bruce Jiao

Takapuna

16 & 18 Byron Avenue:
Features: 1100m² office
Outcome: sold for $7.3 million
Agent: Tim Bibby

Wairau Valley

82 Hillside Rd:
Features: 1214m² site, 475m² industrial building – warehouse 388m², office 87m²
Outcome: sold for $1.4 million
Agents: Josh Warren & Chris Brosnahan

Leases:

North-east

Rosedale

6 Airborne Rd, unit 10:
Features: 60m² warehouse, 20m² office, 60m² accommodation
Rent: leased for $26,500
Agent: Elaine Tutty

5D Apollo Drive:
Features: 78m² office
Rent: leased for $20,000/year
Agents: Max Andrews & Aaron Smith

39 Apollo Drive, unit 14:
Features: 143m² office
Rent: leased for $37,500/year
Agents: Max Andrews & Aaron Smith

101K Apollo Drive:
Features: 68m² office
Rent: leased for $15,000/year
Agents: Max Andrews & Aaron Smith

5 Dallan Place:
Features: 80m² warehouse, 20m² office
Rent: leased for $32,000/year
Agents: Elaine Tutty & Tim Bibby

331 Rosedale Rd, unit A:
Features: 208m² office,
Rent: leased for $71,568/year
Agent: Aaron Smith

Unsworth Heights

145 Unsworth Drive, unit 5:
Features: 123m² retail, 7 parking spaces
Rent: leased for $34,500
Agent: David Goodhue

Attribution: Agency release.

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2 central commercial sales for Barfoots

Barfoot & Thompson Commercial agents have sold 2 central city properties, one a retail unit on High St and the other an office building just off Queen St above Mayoral Drive.

CBD

High St

13 High St:
Features: 98m² retail unit
Outcome: sold vacant in July for $800,000
Agents: John Stringer & Scott Whitten

Uptown

16 Waverley St (pictured):
Features: 731m² site, 2157m² 7-level commercial building plus 33 basement parking spaces, 50m height limit
Rent: $252,934 with some vacancy
Outcome: sold in May for $6,507,500
Agents: John Stringer, Murray Tomlinson & Reese Barragar

Attribution: Agency release.

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