Tag Archives | Wairau Valley

Retail & office sales at Albany, Remuera & Takapuna

Bayleys agents on the Shore have sold a retail unit at Albany and a Takapuna office building, and were involved in the sale of a Remuera shop. They’ve also completed 3 new leases.

Isthmus east

Remuera

31C Remuera Rd:
Features: 80m² retail unit with food grade licence, 2 parking spaces
Rent: $10,500/year net + gst
Outcome: sold vacant in July for $840,000
Agents: Ryan Dannhauser, Sarah Boles & James Were

North-east

Albany

270 Oteha Valley Rd, unit 13:
Features: 56m² retail unit in the Foundation convenience centre
Outcome: sold vacant in June for $615,000, at $10,982/m²
Agent: James Yu

Takapuna

39 Taharoto Rd:
Features: 1017m² site zoned mixed use, 568m² 2-level office building, 16 parking spaces, 4 tenants plus 180m² under a conditional leasing contract
Rent: $172,000/year net + gst     
Outcome: sold in July for $3.5 million + gst at a 4.9% yield
Agents: Adam Watton, Adam Curtis & Eddie Zhong

Leases

North-east

Albany

9 Tait Place, unit B3:
Features: 160m² unit – warehouse 100m², showroom 30m², office 30m², 3 parking spaces
Rent: leased in July for $26,000/year net + gst, premises rental $162.50/m² (no cost for parking)
Agents: Terry Kim & Laurie Burt

Takapuna

33 Hurstmere Rd, shop S7:
Features: 140.2m² shop, 4 parking spaces
Rent: leased in July for $84,120/year net + gst, parking $35/space/week, premises rental $600/m²
Agent: Ildy Meixner

Wairau Valley

89 Ellice Rd, unit 5D:
Features: 125m² unit – warehouse 100m², showrooms 25m², 2 parking spaces
Rent: leased in July for $30,000/year net + gst, premises rental $240/m² (no cost for parking)
Agents: Adam Watton & Adam Curtis

Attribution: Agency release.

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Industrial unit & office building sell, 6 leases signed

Bayleys agents on the North Shore have sold a Rosedale industrial unit and an office building across the road from Smales Farm, and signed 6 lease deals.

North-east

Sales

Rosedale

19 Orbit Drive, unit B:
Features: 748m² industrial unit – warehouse 438m², office 286m², other area 24m², 11 parking spaces
Outcome: sold in May for $2.2 million + gst at $2941/m² land & building
Agents: Ashton Geissler & Laurie Burt

Takapuna

43 Taharoto Rd:
Features: 897m² site, 700m² 2-level office building occupied by the Waitemata District Health Board and TRG Imaging Ltd, 20 parking spaces, on corner of Shea Rd opposite the Vodafone building at Smales Farm
Rent: $218,475.20/year net + gst
Outcome: sold in June for $4.1 million + gst at a 5.33% yield
Agents: Adam Watton, Adam Curtis & Eddie Zhong

Leases

Albany

28 Corinthian Drive, ground floor:
Features: 81m² retail, 4 parking spaces
Rent: leased in June for $45,350/year net + gst, parking $35/space/week, net $38,070/year excluding parking, premises rental $470/m²
Agents: Eddie Zhong & Dean Gilbert-Smith

Devonport

57-59 Victoria Rd, room 4:
Features: 20m² office,
Rent: leased in June for $8400/year net + gst, premises rental $420/m²
Agents: Jane Sims & Chris White

Rosedale

6 Ascension Place, unit C:
Features: 221m² industrial unit, 3 parking spaces
Rent: leased in June for $29,000/year net + gst, premises rental $131/m² (no charge for parking)
Agents: Ashton Geissler & James Kidd

9-11 Lovell Court, unit Q:
Features: 136m² industrial unit – warehouse 68m², office 68m², 4 parking spaces
Rent: leased in May for $28,000, premises rental $205/m² (no charge for parking)
Agent: Laurie Burt

Wairau Valley

33 Porana Rd, unit 4:
Features: 110m² warehouse, 2 parking spaces
Rent: leased in June for $18,750/year net + gst, premises rental $170.45/m² (no charge for parking)
Agent: Trevor Duffin

39-45 Porana Rd, unit E:
Features: 207m² industrial unit – warehouse 107m², office 100m², 4 parking spaces
Rent: leased in June for $32,500/year net + gst, premises rental $157/m² (no charge for parking)
Agents: Colin Harper & Laurie Burt

Attribution: Agency release.

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Wairau Valley paint shop sells on 3.1% yield

If property auctions are losing their gloss as lending becomes tighter, Colliers’ auction in Auckland yesterday didn’t show too many signs of it.

The first property up, Resene Paints’ Wairau Valley outlet, was sold on a 3.1% yield and the second, a new warehouse in Wiri, went for a still strong 4.7%.

The other 2 properties up for auction were both vacant, one selling and the other passing in. The auction of the fifth property on the list, was deferred until next week.

Isthmus east

Mt Wellington

6 Rakino Way:
Features: on half share of 9000m² site, vacant 2198m² net lettable area – warehouse 1450m², ground-floor office 367m², first-floor office 381m², minimum stud height 5.6m rising to 7.2m², 2 roller doors, 26+ parking spaces
Outcome: passed in at $3.6 million
Agents: Ben Herlihy & Todd Kuzmich

North-east

Birkenhead

49-55 Birkenhead Avenue:
Features: 802m² site, 481m² of building over 3 levels, 5 tenants – 2 shops & 3 office tenancies
Rent: $109,830/year net + gst
Outcome: auction postponed to Wednesday 7 June
Agents: Euan Stratton & Jimmy O’Brien

Wairau Valley

8 Croftfield Lane:
Features: 2594m² site, 761m² building, 29% site coverage, new 10-year lease to Resene Paints Ltd starting 1 July + 10-year right of renewal
Rent: $175,000/year net + gst + opex
Outcome: sold for $5.6 million at a 3.1% yield
Agents: Ryan de Zwart, Matt Prentice & Shoneet Chand

South

East Tamaki

18 Ormiston Rd:
Features: 2791m² site, vacant 1670m² clearspan warehouse & office – factory workshop & amenities 1455m², factory office & amenities 70m², first-floor offices & entry 145m², covered deck 8.9m²
Rent: indicative rent $187,691, which would put the yield on sale price at 5.9%
Outcome: sold for $3.205 million
Agents: Jolyon Thomson & Paul Jarvie

Wiri

3 Stonehill Drive:
Features: 4215m² site, 2301m² floor area, built in 2016, 10-year lease to Jarvis Trading
Rent: $341,500/year net + gst
Outcome: sold for $7.25 million at a 4.7% yield
Agents: Paul Jarvie & Paul Higgins

Attribution: Auction.

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5 commercial leases on Shore and at Silverdale

Bayleys agents on the North Shore have signed 2 leases in the Wairau Valley and 3 others in Rosedale, Silverdale & Takapuna.

Leases

North-east

Rosedale

4 Antares Place, unit F1:
Features: 113m² office, 3 parking spaces
Rent: leased in May for $33,065/year net + gst, parking $20/space/week, net excluding parking $29,945/year, premises rental $265/m²
Agents: Ryan Dannhauser & Eddie Zhong

Silverdale

162 Foundry Rd:
Features: 572m² industrial property, 6 parking spaces
Rent: leased in May for $80,000/year net + gst, premises rental $139.86/m² (no separate parking charge)
Agents: Rosemary Wakeman

Takapuna

Smales Farm, 68-76 Taharoto Rd, B:Hive, level 1, suite 110B:
Features: 27m² office, no parking
Rent: leased in May for $29,901/year net + gst, premises rental $1107/m²
Agents: Jane Sims

Wairau Valley

12 Ashfield Rd, unit A:
Features: 470m² industrial unit – warehouse 430m², office 40m², 9 parking spaces
Rent: leased in May for $52,000/year net + gst, premises rental $111/m² (no separate parking charge)
Agents: Trevor Duffin & Chris White

56 Diana Drive, unit D:
Features: 460m² industrial unit – warehouse 310m², office 150m², 3 parking spaces
Rent: leased in May for $58,000/year net + gst, premises rental $126/m² (no separate parking charge)
Agent: Trevor Duffin

Attribution: Company release.

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Updated: Wairau Valley car yard sells at over $2000/m² at Bayleys auction

Published 18 May 2017, updated 21 & 28 May 2017:
11 of the 21 commercial properties auctioned by Bayleys on Wednesday in its third Total Property portfolio for the year were sold under the hammer. 2 more have been sold post-auction – first, 100 Hinemoa St, Birkenhead, followed by 44 College Hill.

The first were sold, followed by a lull, but 2 of the most expensive offerings were well down the auction list.

One was a Wairau Valley car sales yard, set among a line of lowrise buildings jammed between the Northern Motorway & Wairau Rd on the North Shore, a stretch where the height limit is now 20m under the unitary plan.

The car yard was sold at $2365/m², which means it’s destined for multi-level development.

2 properties were sold for $4 million, both in Henderson. The first was a bank branch on Great North Rd, sold on a 5.5% yield, and the second, a Supercheap Auto outlet in the Lincoln North shopping centre, sold on a 5.3% yield.

CBD

Victoria Quarter

166 Hobson St:
Outcome: sold prior
Agents: Sarah Boles & Terry Kim
Story, 11 May 2017: 12 years after demolition order scrapped, Hobson St building sells

Isthmus east

Panmure

63 Queens Rd:
Features: 97m² retail unit on 2 levels occupied by Willow Hair Design, parking space
Rent: $24,000/year net + gst on new 3-year lease with 2 2-year renewals
Outcome: passed in
Agents: Ken Hu

Parnell

385 Parnell Rd, unit E:
Features: 54m², retail fully leased on month-to-month basis, 2 secure parking spaces
Rent: $32,760/year net + gst
Outcome: sold for $505,000
Agents: Andrew Wallace & Cameron Melhuish

Remuera

563 Remuera Rd:
Features: 144m² cafe, Upland Rd shopping village
Rent: $76,104/year net + gst
Outcome: sold for $1.6 million
Agents: Cameron Melhuish & Andrew Wallace

Isthmus west

Freemans Bay

42 College Hill:
Features: 511m² section, house with 124m² floor area, onsite parking
Rent: $44,500/year net + gst
Outcome: passed in at $1.5 million
Agents: James Were & Scott Kirk

Updated: 44 College Hill:
Features: 389m² section, house, onsite parking
Rent: $44,000/year net + gst
Outcome: passed in, sold post-auction for $1.5 million
Agents: James Were & Scott Kirk

Mt Roskill

74 Carr Rd:
Features: 835m² site, 697m² single-level building
Outcome: withdrawn from auction, changed to sale by deadline private treaty
Agents: Tony Chaudhary & Sunil Bhana

North

Kaikohe

39 Station Rd:
Features: 7199m² commercial property in 2 titles
Outcome: withdrawn from auction
Agents: John Greenwood & Paul Dixon

Warkworth

The Grange, 67 Auckland Rd, unit 11:
Features: 59m², Fish Nets fish & chips shop on 10-year lease in new retail development
Rent: $30,975/year net + gst
Outcome: passed in at $480,000
Agents: Matt Lee, Jan Hutcheson & James Chan

North-east

Albany

75 Corinthian Drive, unit L1:
Features: 197m² first-floor office, new 6-year lease in place with renewal rights, 5 parking spaces
Rent: $58,800/year net + gst + outgoings
Outcome: sold for $1.095 million
Agents: Jane Sims & Tonia Robertson

Birkenhead

Updated: 100 Hinemoa St:
Features: 757m² corner site, 421m² 2-storey building
Rent: $103,907/year net + gst from 6 tenancies
Outcome: passed in at $2.7 million, sold post-auction for $2.7 million
Agents: Simon Aldridge & David Huang

27-33 Mokoia Rd, units 4, 5 & 7:
Features: 59m² total, 3 strata units next to Highbury mall, tenants are a dry cleaner & kebab shop, third unit vacant
Agents for all 3: Michael Nees, Owen Ding & Oscar Kuang
Unit 4, vacant:
Outcome: passed in at $300,000
Unit 5, kebab shop:
Rent: $24,000/year net + gst, lease running to 2030
Outcome: passed in at $470,000
Unit 7, dry cleaners:
Rent: $18,942/year net + gst, lease 6 years from last October
Outcome: passed in at $300,000

225 Onewa Rd:
Features: cross-lease, 1/3 share in 913m², vacant ex-surgery, 5 parking spaces
Outcome: sold for $650,000
Agents: Michael Nees, Owen Ding & Oscar Kuang

Rosedale

7 Vega Place, unit E:
Features: 272m² industrial unit,
Rent: $52,000/year net + gst from established tenants on new leases
Outcome: sold for $980,000
Agents: James Kidd & Matt Mimmack

Silverdale

1 Polarity Rise, ground floor:
Features: 145m², 2 shops on 2 titles for sale as one
Rent: $61,966.70/year net + gst + opex
Outcome: passed in
Agents: Ashton Geissler, Eddie Zhong & Mustan Bagasra

Takapuna

424 Lake Rd:
Features: 3 tenancies
Rent: $61,950/year net + gst, rising to $63,383 in November,
Outcome: sold for $1.5 million
Agents: Michael Nees & David Huang

Wairau Valley

107 Wairau Rd:
Features: 1184m² site, 13-year-old car dealership Car7, 40m² office 
Rent: $63,600/year net + gst, redevelopment potential up to 20m height limit
Outcome: sold for $2.8 million at $2365/m²
Agents: Brian Caldwell & Ranjan Unka

North-west

Henderson

Lincoln North Shopping Centre, 192 Lincoln Rd, unit A1:
Features: 756m² retail unit, 7-year lease to Supercheap Auto from July 2016
Rent: $212,292.82/year net + gst
Outcome: sold for $4 million at a 5.3% yield
Agents: Matt Lee, Tony Chaudhary & James Chan

373 Great North Rd:
Features: 808m² corner site, 1240m² floor area, BNZ as tenant on lease to 2020 with further renewal rights, basement parking
Rent: $219,360/year net + gst + opex, rent review in December
Outcome: sold for $4 million
Agents: Mike Adams & Laurie Burt

South

East Tamaki

44D Andromeda Crescent:
Features: 400m² industrial unit – high stud, clearspan warehouse 300m², office/amenities 40m², mezzanine 60m²
Outcome: sold for $735,000
Agents: Nelson Raines

Mangere Bridge

19 Coronation Rd:
Features: 273m² town centre site, 160m² bank branch, seismic rating 67% of new building standard
Rent: $34,000/year net + gst
Outcome: sold for $973,000
Agents: Nicolas Ching & Beterly Pan

South of the Bombays

Hawke’s Bay

Napier, Onekawa

Deco City Motor Lodge, 308 Kennedy Rd:
Features: 2682m² site, 30 studios and 1- & 2-bedroom units, conference suite, manager’s quarters, freehold going concern, Qualmark 4.5 stars, in Host Accommodation Group, seismic rating 80% of new building standard
Outcome: no bid
Agents: Paul Dixon, Daniel Moffitt & Carolyn Hanson

Attribution: Company release.

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7 leases around Shore

Bayleys agents on the North Shore have completed 7 lease transactions in Albany, Browns Bay, Rosedale, Takapuna & the Wairau Valley. They were also involved in 5 sales at Bayleys’ Total Property auction on Wednesday (reported separately, link below).

Leases:

North-east

Albany

28 Corinthian Drive:
Features: 256m² retail, 10 parking spaces
Rent: leased in May for $135,960, parking $35/space/week, net excluding parking $117,760/year, premises rental $460/m²
Agents: Alex Strever, Eddie Zhong & Dean Gilbert-Smith

3 William Laurie Place, level 1:
Features: 378.05m² office, 11 parking spaces
Rent: leased in May for $111,672.50/year et + gst, parking $$30/space/week, net excluding parking $94,512.50/year, premises rental $250/m²
Agents: Dean Gilbert-Smith/Jane Sims & Ryan Dannhauser

Browns Bay

76 Clyde Rd:
Features: 89.1m² retail
Rent: leased in April for $34,000/year net + gst, premises rental $382/m²
Agent: Steven Liu

Rosedale

9 Beatrice Tinsley Crescent, unit A:
Features: 408m² industrial unit – warehouse 266m², showroom 64m², office 78m², 7 parking spaces (not separately charged for)
Rent: leased in May for $66,000/year net + gst, premises rental $162/m²
Agents: Laurie Burt, Ranjan Unka & Ashton Geissler

Takapuna

433 Lake Rd, level 3:
Features: 48.4m² office, parking space
Rent: leased in May for $12,468/year net + gst, parking $35/space/week, net excluding parking $10,648/year, premises rental $220/m²
Agents: Jane Sims & Chris White

Smales Farm, B-Hive, level 1, suite 114B:
Features: 27m² office, no parking
Rent: leased in May for $32,560/year net, premises rental $1206/m²
Agents: Dean Gilbert-Smith

Wairau Valley

18 Link Drive, unit 15:
Features: 498m² industrial unit – warehouse 434m², other area 64m², 13 parking spaces (not separately charged for)
Rent: leased in April for $100,000/year net + gst, premises rental $201/m²
Agents: Steven Liu, Trevor Duffin, Alex Strever & Eddie Zhong

Related story: Updated: Wairau Valley car yard sells at over $2000/m² at Bayleys auction

Attribution: Agency release.

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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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Shore agents sign 9 commercial leases

Bayleys agents on the North Shore have signed 9 commercial & retail leases, 4 of them in Rosedale, 2 in Northcote and one each in Silverdale, the Wairau Valley and across the harbour bridge in Three Kings.

Leases

Isthmus west

Three Kings

528 Mt Albert Rd, unit F:
Features: 125m² office
Rent: leased in April for $24,585/year net + gst, premises rental $196.68/m²
Agents: IIdiko Meixner, Steven Liu, Eddie Zhong & Ed Donald

North-east

Northcote

3 Akoranga Drive, tenancy 10:
Features: 91.56m² retail unit, no parking
Rent: leased in March for $48,280/year net + gst – premises $45,780/year, premises rental $500/m², signage rental $2500/year
Agents: Jane Sims & John Algie

Northcote Shopping Centre, 7-9 Pearn Crescent:
Features: 170m² shop, 3 parking spaces
Rent: leased in April for $115,000/year net + gst, premises rental $676.47/m² (parking free)
Agents: James Yu & Terry Kim

Rosedale

31 Apollo Drive, unit E:
Features: 95m² office, 3 parking spaces
Rent: leased in April for $26,900/year net + gst, parking $25/space/week, net premises rental $23,000/year, $242.11/m²
Agent: Ryan Dannhauser

33 Apollo Drive unit 8:
Features: 234m² office unit, 7 parking spaces
Rent: leased in April for $64,000, parking $20/space/week, net premises rental $56,720. $242.39/m²
Agent: Alex Strever

63-65 Paul Matthews Rd, unit L:
Features: 71.5m² office, shared parking space
Rent: leased in January for $16,000/year net + gst, premises rental $223.78/m²
Agents: Steven Liu, Paul Prouse & Jane Sims

Rosedale Retail Centre, 94 Rosedale Rd, unit 11:
Features: 121m² shop, shared parking
Rent: leased in April for $60,000/year net + gst, premises rental $495.87/m²
Agents: Steven Liu & Eddie Zhong

Silverdale

6 & 6A Tavern Rd:
Features: 406m² industrial unit – warehouse 390m², office 16m²
Rent: leased in April for $70,000/year net + gst, premises rental $172.41/m²
Agent: Rosemary Wakeman

Wairau Valley

32-34 Poland Rd, unit C:
Features: 524.8m² industrial unit – warehouse 267.3m², office 257.5m², 8 parking spaces
Rent: leased in March for $95,000/year net + gst, premises rental $181.02/m² (parking free)
Agents: Trevor Duffin & Matt Mimmack

Attribution: Agency release.

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Sale & 6 leases for Shore agents

Bayleys agents have completed one sale Rosedale sale and 6 leases on the North Shore and at Silverdale.

North-east

Sales:

Rosedale

39 Apollo Drive, unit 14:
Features: 143m² office, tenant Standard Group Ltd, 4 parking spaces
Rent: $37,500/year net + gst
Outcome: sold in February for $550,000 + gst at a 6.8% yield, $3846/m²
Agents: Ryan Dannhauser & Simon Aldridge

Leases:

Albany

6 Tawa Drive:
Features: 556m² industrial property – showroom 229m², office 327m², 16 parking spaces
Rent: leased in March for $135,000/year net + gst, premises rental $242.81/m² (parking free)
Agents: Matt Mimmack & David Han

Rosedale

9-11 Rothwell Avenue, unit F:
Features: 352m² industrial unit – warehouse 236m², office 54m², showroom 43m², other area 19m², 6 parking spaces
Rent: leased in March for $53,000, premises rental $151/m² (parking free)
Agent: Laurie Burt

9 Vega Place, unit C:
Features: 444m² industrial unit – warehouse 222m², office 204m², 9 parking spaces
Rent: leased in March for $75,000/year net + gst, premises rental $169/m² (parking free)
Agents: Laurie Burt & Stephen Scott

Silverdale

11 David McCathie Place:
Features: 601m² industrial unit – warehouse 507m², office 94m², 7 parking spaces
Rent: $85,000/year net + gst, premises rental $141.43/m² (parking free)
Agents Rosemary Wakeman

14-16 Flexman Place, unit E:
Features: 239m² industrial unit – warehouse 220m², office 19m², 5 parking spaces
Rent: leased in April for $32,500, premises rental $135.98/m² (parking free)
Agents: Rosemary Wakeman

Wairau Valley

145 Target Rd, unit 5A:
Features: 120m² office, 3 parking spaces
Rent: leased in March for $16,000/year net + gst, premises rental $133.33/m² (parking free)
Agents: Trevor Duffin & Adam Watton

Attribution: Agency release.

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