Tag Archives | Wairau Valley

Fiore corner office space leased

Office space on both levels of the revived Wong Doo building (ex-Canvas City, pictured) at the corner of Hobson & Cook Sts was among 3 leases Bayleys agent signed this month. The other 2 were in the Wairau Valley on the North Shore.

The Hobson St building was saved from imminent demolition in 2005 when Auckland City Council gave it a category B heritage scheduling. That also resulted in a change to the design of the Fiore apartment building, eventually completed as 2 structures, with the old corner building incorporated beneath the second apartment building.

Leases:

CBD

Hobson St

Fiore, 166 Hobson St:
Features: 200m² office in the revived Wong Doo building (ex-Canvas City) at the corner of Hobson & Cook Sts
Rent: leased in March for $110,000/year net & gst, premises rental ground floor $700/m², first floor $400/m²
Agents: Terry Kim, Nelson Patchett & Sarah Boles

North-east

Wairau Valley

49 Porana Rd, unit 2:
Features: 130m² industrial unit – warehouse 120m², office 10m², 3 parking spaces
Rent: leased in March for $22,100/year net + gst, premises rental $170/m² (parking free)
Agents: Adam Watton & Adam Curtis

71 Wairau Rd:
Features: 246m² industrial unit – office 88m², warehouse 158m²
Rent: leased in March for $44,720/year net + gst, premises rental $181.79/m²
Agent: Colin Harper

Attribution: Agency release.

Continue Reading

2 sales & 2 leases on Shore

Colliers agents on the Shore have sold & separately leased an office unit in the North Harbour estate at Rosedale.

The agency sold a Porana Rd unit at auction last week and an office on Anzac St, Takapuna, has been leased.

North-east

Sales

Rosedale

65 Paul Matthews Rd, unit 4a:
Features: 72m² office, parking space
Outcome: sold vacant in January for $305,000 + gst
Agents: Janet Marshall & Nick Recordon

Wairau Valley

39-45 Porana Rd, unit 1:
Features: 308m² unit, ground-floor storage, upstairs offices, 4 parking spaces
Outcome: sold vacant for $660,000 at auction 1 March
Agents: Euan Stratton & Matt Prentice

Leases

Rosedale

65 Paul Matthews Rd, unit 4a:
Features: 72m² office, parking space
Rent: leased in February for $18,780/year net + gst, parking $15/space/week, net excluding parking $18,000, premises rental $250/m²
Agents: Janet Marshall & Nick Recordon

Takapuna

17 Anzac St, level 2:
Features: 172m² office, 3 parking spaces
Rent: $50,980/year net + gst, parking at $35/space/week, net excluding parking $45,520, premises rental $265/m²
Agents: Nick Recordon & Janet Marshall

Attribution: Agent release.

Continue Reading

8 commercial leases on Shore

Bayleys agents on the Shore have concluded 4 commercial leases in the Rosedale area & 4 in Albany, Milford, Northcote & the Wairau Valley.

Leases:

North-east

Albany

5-7 Henry Rose Place, unit 5:
Features: 470m² unit – warehouse 345m², office 125m², 7 parking spaces
Rent: leased in February for $75,000/year net + gst, premises rental $160/m² (no extra for parking)
Agent: Laurie Burt

Milford

164 Kitchener Rd, unit 3:
Features: 155m² retail unit, parking space
Rent: leased in February for $48,300/year net + gst, parking $25/space/week, premises rental $403/m²
Agents: Ildy Meixner, Alex Strever & Steven Liu

Northcote

Downstairs of 67 Onewa Rd:
Features: 212m² industrial space – showroom 116m², other area 96m², 5 parking spaces
Rent: leased in February for $28,000/year net + gst, premises rental $132/m² (no extra for parking)
Agents: Steven Liu & Damian Stephen

Rosedale

112 Bush Rd, unit L:
Features: 186m² office, 7 parking spaces
Rent: leased in February for $53,000/year net + gst, parking $20/space/week, net excluding parking $45,720/year, premises rental $245/m²
Agent: Alex Strever

10 Canaveral Drive, unit 3:
Features: 344m² industrial unit – office 50m², warehouse 244m², showroom 50m², 6 parking spaces
Rent: leased in February for $58,000/year net + gst, parking $20/space/week, premises rental $168.60/m²
Agent: Matt Mimmack

Part of 1-3 Parkhead Place:
Features: 873m² unit – 713m² warehouse, 160m² office, 12 parking spaces
Rent: leased in February for $112,000/year net + gst, premises rental $128.29/m² (no extra for parking)
Agent: Laurie Burt

23 William Pickering Drive, part of unit E:
Features: 193m² office, 10 parking spaces
Rent: leased in February for $45,200/year net + gst, parking $15/space/week, premises rental $234/m²
Agent: Alex Strever

Wairau Valley

Corrected: 21 Poland Rd, unit 13:
Features: 321m² industrial unit (and the breakdown now equals the total) – office 55m², warehouse 220m², showroom 46m², 6 parking spaces
Rent: leased in February for $44,300/year net + gst, premises rental set at office $180/m², warehouse $120/m², showroom $170/m²
Agent: Trevor Duffin

Attribution: Agency release.

Continue Reading

Avondale sale & 5 Shore leases

Bayleys agents on the Shore have completed one warehouse unit sale in Avondale and 5 leases in Milford, Rosedale & the Wairau Valley.

The Apollo Drive retail unit at Rosedale is in a development (pictured) completed by Kea Property Development Group Ltd in December. It’s anchored by a childcare centre and has 13 retail units totalling 941m² of the 5218m² site. 2 other retail units were sold a month ago.

Sale:

Isthmus west

Avondale

16 Timothy Place, unit B:
Features: 287m² unit – 206m² warehouse, 81m² office
Rent: $46,956/year net + gst
Outcome: sold in February for $855,000 + gst at a 5.49% yield, $2979/m²
Agent: Ranjan Unka

Leases:

North-east

Milford

162 Kitchener Rd, level 1:
Features: 133.4m² office, parking space included
Rent: leased in February for #33,094.99/year net + gst, premises rental $248/m²
Agents: Paul Prouse & Ryan Dannhauser

Rosedale

56 Apollo Drive, unit 6:
Features: 95m² retail unit, shared parking
Rent: leased in February for $52,250/year net + gst, premises rental $550/m²
Agents: Laurie Burt & Eddie Zhong

14 John Glenn Avenue, unit B:
Features: 199m² retail unit, shared parking
Rent: leased in February for $85,000/year net + gst, premises rental $420/m²
Agent: James Yu

36 William Pickering Drive, unit 2:
Features: 103m² office, 5 parking spaces
Rent: leased in February for $27,860/year net + gst, parking $20/space/week, net excluding parking $22,660, premises rental $220/m²
Agent: Ryan Dannhauser

Wairau Valley

68 Hillside Rd, unit C:
Features: 344.68m² industrial unit – warehouse 266.43m², mezzanine 78.25m², 5 parking spaces included
Rent: leased in February for $35,000/year net + gst, premises rental $101.54/m²
Agent: Trevor Duffin

Earlier story:
5 February 2017: 2 new Apollo Drive units among January sales

Attribution: Agency release.

Continue Reading

Albany site sells

A site on the Albany Highway has been sold and 4 leases signed in the latest transactions by Bayleys’ North Shore office.

Sales:

North-east

Albany

281 Albany Highway:
Features: 2737m² site
Outcome: sold for $3 million + gst at $1096/m²
Agents: Ranjan Unka, Anna Radkevich & Andrew Smith (Wellington)

Leases:

North-east

Albany

42 Tawa Drive, suite A:
Features: 74m² office, 2 parking spaces
Rent: leased in February for $21,690/year net + gst, parking $20/space/week, net excluding parking $19,610/year, premises rental $265/m²
Agents: Ryan Dannhauser & Paul Prouse

Rosedale

5 Douglas Alexander Parade, unit B5:
Features: 110m² industrial unit, 2 parking spaces
Rent: leased in January for $22,500/year net + gst at $205/m² (parking free)
Agents: James Kidd & Laurie Burt

Wairau Valley

26 Porana Rd:
Features: 170m² industrial unit – warehouse 80m², mezzanine 90m², 2 parking spaces
Rent: leased in February for $15,000/year net + gst at $88.23/m²
Agent: Trevor Duffin

North-west

Henderson

91 Central Park Drive, part first floor:
Features: 120m² office, 3 parking spaces
Rent: leased in February for $29,500/year net + gst, parking $25/space/week, net excluding parking $25,600/year, premises rental $213.34/m²
Agents: Paul Prouse & Laurie Bell

Attribution: Agency release.

Continue Reading

2 new Apollo Drive units among January sales

Bayleys North Shore agents have sold 2 units in a new Apollo Drive development and 3 other properties, and concluded 3 lease agreements.

Sales:

North-east

Orewa

21 Tamariki Avenue:
Features: 559m² site, 316m² office building, 11 parking spaces, first floor occupied by BDS Hughes Chartered Accountants, ground floor vacant; town centre zoning
Rent: first-floor income $27,010/year net
Outcome: sold in January for $1.425 million + gst
Agents: Rosemary Wakeman & Mustan Bagasra

Rosedale

56 Apollo Drive, unit 9:
Features: new 108m² restaurant/café in Kea Property Ltd development – retail area 78m², covered courtyard 30m², shared parking
Outcome: sold in January for $740,000 + gst, at $8303/m² retail area, $3076/m² courtyard
Agents: Terry Kim, Adam Curtis, Damian Stephen, Michael Block & Eddie Zhong

56 Apollo Drive, unit 3A(4):
Features: 69m² retail unit, shared parking
Outcome: sold in January for $561,000 + gst, at $8250/m²
Agents: Terry Kim, Adam Curtis, Damian Stephen, Michael Block & Eddie Zhong

239 Rosedale Rd, unit R:
Features: 135m² retail unit, 4 parking spaces
Outcome: sold for $443,000 + gst at $3281.48/m² (parking free)
Agents: Anna Radkevich (Bayleys) & Alan Woodford (Ray White)

Wairau Valley

170 Wairau Rd, unit 21:
Features: 107m² retail unit, tenant Swim Mart
Rent: $49,500
Outcome: sold in January for $875,000 + gst at a 5.7% yield, $8178/m²
Agents: Adam Watton & Adam Curtis

Leases:

North-east

Rosedale

Part of 93 Apollo Drive:
Features: 900m² – warehouse 875m², office 25m², no parking
Rent: leased in January for $130,000/year net + gst at $145/m²
Agents: Matt Mimmack (Bayleys) & Matt Prentice (Colliers)

Wairau Valley

77 Porana Rd, unit 11:
Features: 223m² unit – office 40m², warehouse 131m², other area 31m², 3 parking spaces
Rent: leased in January for $34,000/year net + gst
Agents: Paul Prouse & Trevor Duffin

North-west

Kumeu

7 Shamrock Place:
Features: 512.8m² unit – office 153,9m², warehouse 358.9m², 8 parking spaces
Rent: leased in January for $60,000/year net + gst at $156.66m² office, $100/m² warehouse (parking free)
Agent: Rosemary Wakeman

Attribution: Agency release.

Continue Reading

10 leases & a sale

Bayleys agents on the Shore have signed up a sale & 10 leases over the summer in Albany, Rosedale & Wairau Valley on the Shore, one in the cbd and the other in New Lynn.

Sale:

North-east

Rosedale

239 Rosedale Rd, unit O:
Features: 69m² office
Outcome: sold in January for $285,000 + gst at $4130.43/m² land & building
Agents: James Yu (Bayleys) & Stephen Wong (Ray White)

Leases:

CBD

Queen St

Queens Court, 368 Queen St, unit G16:
Features: 20m² retail
Rent: leased in November for $28,306.73/year net + gst, premises rental $1415.34/m², gross $43,000/year + gst
Agent: Steven Liu

North-east

Albany

52 Oteha Valley Rd, unit M, tenancy A:
Features: 128m² retail
Rent: leased in December for $60,000/year net + gst, premises rental $469/m²
Agents: Adam Curtis, Adam Watton & Eddie Zhong

52 Oteha Valley Rd, unit M, tenancy B:
Features: 150m² retail
Rent: leased in December for $55,000/year net + gst, premises rental $367/m²
Agents: Adam Curtis, Adam Watton & Eddie Zhong

Rosedale

59 Apollo Drive, unit F1:
Features: 134m² unit – office 87m², warehouse 47m², 2 parking spaces
Rent: leased in January for $35,000/year net + gst, parking $15/space/week, net excluding parking $33,440/year, premises rental $249.55/m²
Agents: Paul Prouse & Jane Sims

9 Piermark Drive, first floor, unit A:
Features: 38.4m² office, parking space
Rent: leased in January for $10,630/year net + gst, parking $15/week, net excluding parking $9850/year, premises rental $257/m²
Agent: Paul Prouse

13 Ride Way, unit E:
Features: 176.12m² unit – office 82.58m², warehouse 93.54m², 3 parking spaces
Rent: leased in January for $26,500/year net + gst, premises rental $150/m² (parking free)
Agent: Laurie Burt

331 Rosedale Rd, building 6, suite B:
Features: 26.48m² office, parking space
Rent: leased in January for $8340/year net + gst, parking $20/week, net excluding parking $7300/year, premises rental $276/m²
Agent: Paul Prouse

Part 39 William Pickering Drive:
Features: 346m² – office 91m², warehouse 240.6m², other area 13.3m², 5 parking spaces
Rent: leased in December for $45,000/year net + gst, premises rental $135/m² (parking & other area free)
Agents: Laurie Burt & Matt Mimmack

Wairau Valley

89 Ellice Rd, unit 3C:
Features: 125m² unit – office 25m², warehouse 100m², 2 parking spaces
Rent: leased in January for $30,000/year net + gst, premises rental $240/m² (parking free)
Agents: Adam Watton & Adam Curtis

North-west

New Lynn

3047 Great North Rd, part ground floor:
Features: 562.24m² office, 8 parking spaces
Rent: leased in December for $160,400/year net + gst, parking $25/space/week, net excluding parking $150,000/year
Agents: Dean Gilbert-Smith, Damian Stephen & Laurie Bell

Attribution: Agency release.

Continue Reading

Sale & 8 leases on Shore

Bayleys agents on the North Shore have concluded one sale outside the auctionroom and signed up 8 new tenants in their latest transactions report. I’ve omitted some of the premises rental figures which seemed to include parking at zero.

North-east

Sales:

Albany

6-8 Omega St, unit 7 & 9:
Features: 449m² office unit
Rent: $110,000/year net, new 3-year lease
Outcome: sold in December for $1.56 million + gst at a 7.05% yield
Agents: Alex Strever. Dean Gilbert-Smith, Michael Nees, Simon Aldridge, David Huang & Matt Mimmack

Leases:

Albany

12 Oteha Valley Rd extension:
Features: 274m² retail,
Rent: leased in November for $62,500/year net + gst, premises rental $228/m²
Agents: Adam Curtis, Adam Watton & Eddie Zhong

Forrest Hill

97 Sunnynook Rd:
Features: 100m² office, 8 parking spaces
Rent: leased in November for $36,000/year net + gst
Agent: Terry Kim

Northcote

48 Lake Rd, unit C:
Features: 158m² retail, 2 parking spaces
Rent: leased in October for $33,000/year net + gst
Agents: Steven Liu & Damian Stephen

Rosedale

8 Triton Drive, unit A:
Features: 346m² – office 136m², warehouse 212m², 5 parking spaces
Rent: leased in December for $57,000/year net + gst
Agents: Laurie Burt

Silverdale

1 Keith Hay Court, unit 4:
Features: 121.18m² warehouse, 3 parking spaces
Rent: leased in October for $21,813/year net + gst
Agent: Rosemary Wakeman

Takapuna

495 Lake Rd, tenancy B:
Features: 220m² office
Rent: leased in October for $44,000/year net + gst, premises rental $200/m²
Agents: Jane Sims

1-7 The Strand, level 4:
Features: 694m² office, 15 parking spaces
Rent: leased in December for $274,960, parking $50/space/week, rent net of parking $235,960/year, gross premises rental $340/m²
Agents: Dean Gilbert-Smith, Tonia Robertson & Chris White

Wairau Valley

54 View Rd, unit 10:
Features: 142m² unit – office 71m², showroom 71m², 2 parking spaces
Rent: leased in December for $35,000/year net + gst
Agents: Ashton Geissler & Matt Mimmack

Attribution: Agency release.

Continue Reading

Wairau Valley unit passed in

Negotiations continued yesterday after a Wairau Valley warehouse unit was passed in at Colliers’ auction with the yield on the top offer just over 5%.

Image: The Diana Drive light industrial precinct at the top of the Wairau Valley on the North Shore. The auctioned unit is in the middle of the units in the foreground.

North-east

Wairau Valley

101 Diana Drive, unit E:
Features: 436.4m² mix of high & low-stud warehouse & office unit, 6 parking spaces
Rent: $66,503/year net + gst
Outcome: passed in at $1.32 million, representing a 5.03% yield
Agents: Euan Stratton & Matt Prentice

Attribution: Auction.

Continue Reading

Updated & corrected: Sales in Rosedale & Penrose, leases around Shore & in Queens Court

Published 13 November 2016, corrected 14 November 2016, updated 15 November 2016:
Bayleys agents have completed 2 sales in the Rosedale area of the North Shore and one in Penrose, plus 3 leases around the Shore and 2 in Queens Court on Queen St in the cbd.

I raised questions about 2 leases, change for one (67 Corinthian Drive) so far. The value of parking and its contribution to location choice & traffic movement intrigue me. In the first case, Corinthian Drive, the number of parking spaces was wrong, as was the price/space. In the second, Colway Place, the parking looks free or the premises rental is high.

The update answers a few questions about 30 O’Rorke Rd, pointing out that the site is leasehold and it’s the lessee’s interest that has been sold. I mentioned that in my report when it was passed in at auction on 6 July, but that detail slipped out in the initial sale report.

Sales:

Isthmus east

Penrose

Updated: 30 O’Rorke Rd:
Features: 3120m² industrial site, 1700m² premises, terminating ground lease interest for sale, fixed expiry 30 September 2044, fully tenanted – 3 tenants on leases to 2018 & 2020 with renewal rights; freehold held by Tram Lease Ltd
Outgoings: ground lease set at $91,000/year + gst from 1 October 2014 under 5-yearly review
Rent: $169,800/year + gst
Outcome: reserve of $560,000 declared for auction on 6 July, no bid; sold in November for $300,000 + gst; at effective sub-lease net rent of $78,800/year + gst, initial yield at the declared reserve would have been 14.1%, but at sale price would rise to 26.3%
Agents: Graham Anderson & Greg Hall

North-east

Rosedale

59 Apollo Drive, unit D3:
Features: 181m² office unit, 5 parking spaces
Outcome: sold in October for $710,000 + gst at $3922/m² land & building
Agents: Ryan Dannhauser & Alex Strever

13 Lovell Court, unit B5:
Features: 92m² unit – 46m² retail, 46m² office, 2 parking spaces, periodic tenancies
Outcome: sold in November for $310,000 + gst
Agents: Steven Liu, Adam Watton & Adam Curtis

Leases:

CBD

Queen St

Queens Court, 368 Queen St, units G35 & G36:
Features: 20m² retail unit
Rent: leased in November for $25,000/year net + gst, premises rental $1250/m²
Agents: Steven Liu & Sarah Boles

Queens Court, 368 Queen St, unit G53:
Features: 20m² retail unit
Rent: leased in November for $27,000/year net + gst, premises rental $1350/m²
Agents: Steven Liu & Sarah Boles

North-east

Albany

Corrected: 67 Corinthian Drive, part ground floor:
Features: 400m² office, 13 parking spaces (originally said 8)
Rent: leased in November for $133,520/year net + gst, parking $20/space/week (originally said $25), net rent excluding parking $120,000/year, premises rental $300/m²
Agent: Dean Gilbert-Smith

Rosedale

59 Apollo Drive, unit E1:
Features: 280m² office, 8 parking spaces
Rent: leased in October for $74,200/year net + gst, parking $20/space/week, net rent excluding parking $65,880/year, premises rental $235/m²
Agent: Jane Sims

Wairau Valley

10 Colway Place, unit 3B:
Features: 162m² industrial unit,
Rent: leased in November for $27,500/year net + gst, 2 parking spaces, at $169.75/m²
Agents: James Kidd & Trevor Duffin

Attribution: Agency release.

Continue Reading
WordPress Appliance - Powered by TurnKey Linux