Tag Archives | Colliers

2 Shore commercial properties sell at auction

2 North Shore properties were sold under the hammer at Colliers’ commercial auction yesterday – a Milford property near North Shore Hospital with 2 buildings on it, long occupied by medical sector tenants but more likely a development prospect, and a Wairau Valley mechanic’s workshop.

North-east

Milford

193 Shakespeare Rd:
Features: 1148m² site zoned mixed use, 2 buildings, floor area 348m², 16 parking spaces
Rent: $40,608/year net + gst holding income
Outcome: sold for $3.1 million
Agents: Euan Stratton & Deborah Dowling

Wairau Valley

114 Sunnybrae Rd:
Features: 951m² site zoned business light industry under unitary plan, floor area 519m² – warehouse 366m², office 153m², seismic rating 100% of new building standard; generic structure developed as a car parts & repair workshop
Rent: $85,000/year net + gst from new 3-year lease
Outcome: sold for $1.84 million
Agents: Euan Stratton & Matt Prentice

Attribution: Auction documents.

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3 commercial sales at Wairau Valley, Te Rapa & Waikanae

Colliers has reported 3 sales around the North Island – a former gym, now office & warehouse, in the Wairau Valley (pictured) and properties at Te Rapa outside Hamilton and Waikanae outside Wellington.

North-east

Wairau Valley

6 Target Court:
Features: 3265m² industrial site, 1182m² floor area, originally a gym, now an office & warehouse, 28 parking spaces
Rent: $214,399/year net + gst holding income until 30 November from departing tenant
Outcome: asking $3.37 million, sold for $3.2 million + gst at a 6.7% yield
Agents: Nick Recordon, Matt Prentice & Jimmy O’Brien

South of the Bombays

Waikato

Te Rapa

4 Maui St:
Features: 2317m² site at the corner Church Rd, occupied by the Cock & Bull bar, 36% site coverage, 47 parking spaces
Rent: $242,000/year net + gst, new 6-year lease from April 2016
Outcome: sold for $3.26 million + gst
Agents: Alan Pracy  Justin Oliver, with a referral from Jolyon Thomson &  Ben Cockram

Wellington

Waikanae

3 Omahi St:
Features: 917m² site, 393m² office & retail, 10 parking spaces
Outcome: sold for $1.39 million + gst at a 6.98% yield
Agents: Dean Anderson

Attribution: Agency release.

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Hurstmere Rd & Silverdale retail properties sell

A retail & restaurant property on Hurstmere Rd, Takapuna, sold at a 4.7% yield at Colliers’ auction yesterday, and a predominantly retail Silverdale village property (outlined in picture) sold at a 6.2% yield.

A Titirangi property containing 3 retail tenancies & considerable land was passed in.

North-east

Silverdale

11 Silverdale St:
Features: 1366.7m², total net lettable area 1366m² over 2 levels, 12 tenancies – 8 ground-floor shops, 3 upstairs offices & a storage area, seismic rating 100% of new building standard
Rent: $218,338/year net + gst + opex
Outcome: sold for $3.5 million at a 6.24% yield
Agents: Shoneet Chand & Alan Pracy

Takapuna

42-44 Hurstmere Rd:
Features: 298m² retail property in 2 titles, 3 tenancies on total 315m²
Rent: $147,254/year net + gst
Outcome: sold for $3.125 million at a 4.7% yield
Agents: Euan Stratton, Matt Prentice & Ellie Martin

North-west

Titirangi

408-416 Titirangi Rd & 490 South Titirangi Rd:
Features: 8939m² site in 2 titles, 905m² floor area, 5 retail tenants
Rent: $267,065.30/year net + gst
Outcome: passed in at $3.9 million
Agents: Michael Bray & Deborah Dowling

Attribution: Auction.

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3 industrial sales & 2 leases

Colliers agents have completed the sale of 2 industrial properties & one trade retail site in East Tamaki & Mt Wellington, and signed 2 leases on the Shore.

Sales

Isthmus east

Mt Wellington

3 Donnor Place:
Features: 2749m² industrial property
Outcome: sold for $4.3 million + gst at a 5.52% yield
Agents: Hamish West & Paul Higgins

South

East Tamaki

24A Harris Rd:
Features: 595m² trade retail site
Outcome: sold for $1.85 million + gst at a 5.99% yield
Agents: Jolyon Thomson & Paul Higgins

39D Lady Ruby Drive:
Features: 530m² industrial unit
Outcome: sold for $1.41 million + gst
Agents: Jolyon Thomson & Andrew Hooper

Leases

North-east

Mairangi Bay

5 Saturn Place, unit E:
Features: 140m² warehouse, 116m² office, occupied by Perry Engineering Auckland Ltd on 5-year lease plus 2 3-year rights of renewal
Rent: $40,000/year net
Agents: Mike Ryan & Ryan de Zwart

Rosedale

29 Canaveral Drive:
Features: 923m² industrial property, 5-year lease plus 2 3-year rights of renewal
Rent: $150,000/year net
Agents: Jimmy O’Brien, Matt Prentice & Shoneet Chand

Attribution: Agency release.

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4 commercial sales for Colliers

Colliers has recorded 4 sales at Mangere, Papamoa and in Hawke’s Bay.

South

Mangere

221 Ihumatao Rd:
Features: 12,432m² commercial site
Outcome: sold for $4,844,970 + gst
Agent: Ash Vincent

South of the Bombays

Bay of Plenty

Papamoa

7 Twin Oak Avenue:
Features: 3007m² childcare centre
Outcome: sold at auction for $2.3 million + gst at a 5.64% yield
Agents: Grant White, Simon Clark & Rob Shoeser

Hawke’s Bay

Hastings

100 Heretaunga St West:
Features: 3254m² retail investment property
Outcome: sold for $6.1 million at a 9.35% yield
Agent: Danny Blair

Havelock North

11 Donnelly St:
Features: 490m² commercial property
Outcome: sold for $1.135 million, at a 5.9% yield
Agents: Dan Walker & Danny Blair

Attribution: Agency release.

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$485/m² for Highgate Parkway site

An industrial site in Highgate Parkway (marked in blue), near the Wainui motorway ramp to Millwater at Silverdale, has been sold for $485/m². Colliers has also sold a quake-damaged Christchurch building on an “as is, where is” basis.

North-east

Silverdale

Lot 7, Highgate Parkway:
Features: 7095m² vacant industrial site
Outcome: sold for $3,443,075
Agents: Jimmy O’Brien & Ryan De Zwart

South Island – Canterbury

Riccarton

116-118 Riccarton Rd:
Features: 1770m² 4-storey retail/office building, damaged in 2011 earthquake and not occupied since, offered on “as is, where is” basis and sold by the Crown-owned Southern Response
Outcome: sold at auction for $3 million
Agents: Mark Macauley & Will Franks

Attribution: Agency release, Google image.

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3 Christchurch commercial sales and a Silverdale lease

Colliers has sold 3 quite different Christchurch properties at auction – a completed townhouse development, a former hospital converted to student accommodation and an industrial building sold “as is where is”.

In Auckland, agents have signed a lease on a new retail unit in Silverdale.

South Island – Canterbury

Christchurch central

MLC Apartments, 235 Salisbury St, units 1-16:
Features: 2710m² fully tenanted residential investment – 16 townhouses of 1-3 bedrooms, built post-quakes, each with single garage
Outcome: sold at auction for $3.085 million, at a 7.8% yield
Agents: Hamish Doig & Courtney Doig

Riccarton

7-15 Kirkwood Avenue:
Features: 5900m² site, 2630m² former St Nicholas Hospital building, 68% of new building standard – a newly converted hall for 74 first-year students & 2 detached staff units, leased to Canterbury University for 12-year term
Rent: $320,000/year net
Outcome: sold at auction for $6.025 million, at a 5.3% yield
Agent: Courtney Doig

Waltham

11 Lismore St:
Features: 1005m² industrial site, 770m² building offered on “as is where is” basis, 5 parking spaces
Outcome: sold at auction for $460,000
Agents: Christian Kellar & Ollie Salt

North-east

Silverdale

2 Milner Avenue, unit 6F:
Features: 71m² retail unit leased to Xplosiv Supplements Ltd
Agents: Ellie Martin, Euan Stratton & Ryan de Zwart

Attribution: Agency release.

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4 industrial property sales in East Tamaki & central Manukau

Bayleys agents have completed 2 East Tamaki sales and 2 in Ryan Place, central Manukau (one jointly with Colliers agents).

South

East Tamaki

150 Harris Rd, unit D:
Features: 348m2 industrial unit – warehouse 260m2, office 88m2
Outcome: sold with vacant possession for $1,005,000
Agents: Katie Wu & John Bolton

20 Torrens Rd, unit 28:
Features: 140m2 live/work industrial unit – warehouse 70m2, office & apartment 70m2, 2 parking spaces
Outcome: sold vacant for $610,000
Agents: Mike Marinkovich & Dave Stanley

Manukau Central

13C Ryan Place:
Features: 160m2 industrial unit – warehouse 120m2, office 40m2, 3 parking spaces
Outcome: sold vacant for $435,000
Agent: Mike Marinkovich

22 Ryan Place (pictured):
Features: 5733m2 site zoned light Industrial, 2667m2 warehouse & office building, covered loading dock & multiple roller door access
Outcome: sold vacant for $4.435 million
Agents: Tony Chaudhary & Janak Darji (Bayleys), Jolyon Thomson, Ash Vincent & Gawan Bakshi (Colliers)

Attribution: Agency release.

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Decade-old warehouse sells just below 5%

A 10-year-old Mairangi Bay office & warehouse unit was sold at a yield just under 5% at Colliers’ auction yesterday. A second warehouse, in Mt Wellington, was passed in.

Isthmus east

Mt Wellington

3 Donnor Place:
Features: 2749m² site, 1600m² building – 1155m² warehouse, 3 roller doors, clearspan concrete construction, 7m stud, 445m² office & showroom on 2 levels, 18 staff parking spaces
Rent: $237,467/year net + gst, 6-year lease
Outcome: passed in
Agents: Hamish West & Paul Higgins

North-east

Mairangi Bay

52 Arrenway Drive, unit A:
Features: 837m² office & warehouse
Rent: $150,295/year net + gst
Outcome: sold for $3.03 million at a 4.96% yield
Agents: Matt Prentice, Mike Ryan & Shoneet Chand

Attribution: Auction documents.

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Corrected: Ellerslie development site & Freemans Bay apartments site sell

Corrected 13 April 2017:
A development site on the Ellerslie side of the Ellerslie-Panmure motorway roundabout (pictured) has been sold by Colliers agents at $880/m², and a site in Freemans Bay has been sold with consent for 29 apartments in place. The size of the Hargreaves St site and an agent’s name have been corrected.

Isthmus east

Ellerslie

43 Wilkinson Rd:
Features: 4547m² commercial development site, consent in place for an office development comprising over 6000m² of lettable floor space plus 140 parking spaces
Outcome: sold for $4 million, at $880/m²
Agents: Gareth Fraser, Kris Ongley & Charlie Oscroft

Isthmus west

Freemans Bay

Corrected: 25 Hargreaves St:
Features: 1219m² mixed use site with consent for 29 apartments, 4 retail units & 33 parking spaces
Rent: $241,341.27/year + gst net current from several tenants, vacant possession available with 6 months’ notice
Outcome: sold for $5.4 million + gst
Agents: Kris Ongley (Colliers) & Scott Kirk (Bayleys)

South of the Bombays

Manawatu – Palmerston North

433-441 Rangitikei St:
Features: 1.32ha heavy industrial site, floor area 2727m²
Rent: holding income $305,000/year
Outcome: sold for $2.8 million
Agents: Grant Lloyd, Phil Nevill & Doug Russell

Attribution: Agency release.

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