Archive | Milford

Leases signed on Mt Wellington motel & 3 Shore office units

Bayleys agents on the North Shore have signed up leases on 3 office units in Albany, Milford & Takapuna, and the lease on a Mt Wellington motel.

Leases

Isthmus east

Mt Wellington

580 Mt Wellington Highway:
Features: 984m² motel (ex-Duchess Motor Lodge)
Rent: $180,000/year net + gst, premises rental $183/m²
Agent: Terry Kim

North-east

Albany

61 Constellation Drive, level 3, suite 308:
Features: 5.5m² office
Rent: $10,821.84/year net + gst at $1967.61/m²
Agent: Jane McKee

Milford

164 Kitchener Rd, unit 5:
Features: 30.76m² office, 3 parking spaces
Rent: $21,340/year net + gst, parking $30/space/week, rental excluding parking $16,660/year, premises rental $542/m²
Agent: Ian Waddams

Takapuna

18 Anzac St, unit 3:
Features: 101m² office
Rent: $26,350/year net + gst at $261/m²
Agents: Dean Gilbert-Smith & Damian Stephen

Attribution: Agency release.

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Remuera & Mt Albert units sell at auctions

An apartment in a gated Remuera development and a Mt Albert unit sold at Bayleys auctions last week. Another 3 units and a Karaka lifestyle or development block were passed in.

CBD

Federal St

The Federal, 207 Federal St, unit 1008:
Features: 2-bedroom apartment
Outgoings: rates $1575/year including gst
Outcome: passed in, back on market at $569,000
Agents: Lucy Piatov & Chris Bell

Isthmus east

Remuera

3 Laxon Terrace, apartment O:
Features: 71m², 2-level townhouse in secure gated development, 2 bedrooms, deck & balcony, double garage
Outgoings: rates $2014/year including gst; body corp levy $2272/year after early payment discount
Outcome: sold for $830,000
Agents: Paul Sissons & Harry Cheng

Broadway Park, Ascot, 8 Middleton Rd, unit G02:
Features: 142m² apartment in pet-friendly complex, 2 bedrooms, 2 bathrooms, secure basement parking space
Outgoings: rates $3355/year including gst; body corp levies $6152/year (Broadway), $2206/year (Ascot)
Outcome: passed in
Agent: Paul Sissons

Isthmus west

Mt Albert

69F Woodward Rd:
Features: 2-bedroom 1970s solid concrete, ground-floor end unit, garden, 2 parking spaces
Outcome: sold for $581,000
Agents: Clive Lay & Kalala Bowden

North-east

Milford

2 Argyle Terrace, unit 4:
Features: 2 bedrooms, garage + second parking space
Outcome: passed in
Agent: Joan Barton

South

Karaka

75 Whangapouri Rd:
Features: 9.5ha site fenced into 7 paddocks, in area of lifestyle homes & new subdivisions
Outcome: passed in
Agents: Shane Snijder, Kristina Liu & Peter Sullivan

Attribution: Agency release.

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3 industrial sales & 5 leases in mix of premises

Published 9 September 2018
Bayleys North Shore agents have sold 3 properties at the start of September – 2 industrial lots in the Highgate business park at Silverdale, a Wairau Valley warehouse & office, and an Otara property occupied by a Gull service station.

They’ve also secured 5 new leases in Henderson, Milford, Rosedale & Silverdale.

Click the link below to check out the separate item on service station sales, including the Otara sale.

Sales

North-east

Silverdale

Highgate business park, Emirali Rd, lots 5 & 6:
Features: 4593m² industrial lots – lot 5 2312m², lot 6 2281m²
Outcome: sold in September for $2.5 million + gst at $544/m²
Agent: Rosemary Wakeman

Wairau Valley

77 Porana Rd, unit 18:
Features: 209m² industrial unit – warehouse 139m², office 70m², 3 parking spaces
Outcome: sold in September with vacant possession for $615,000 + gst
Agents: Trevor Duffin & Matt Mimmack

South

Otara

263 East Tamaki Rd:
Features: 3075m² mixed-use property occupied by Gull service station, 1395m² structures
Rent: $247,173/near net + gst
Outcome: sold for $4.3 million + gst at a 5.75% yield, $1398/m² land price
Agents: Terry Kim, Eddie Zhong & Tony Chaudhary

Leases

North-east

Milford

166 Kitchener Rd, suite H:
Features: 18m² office
Rent: leased in September for $4673/year net + gst, premises rental $260/m²
Agents: Ian Waddams & Ildy Meixner

Rosedale

33 Apollo Drive, unit 8:

Features: 234m² office unit, 7 parking spaces
Rent: leased in August for $64,000/year net + gst, parking $20/space/week, rental excluding parking $56,720/year net + gst, premises rental $242/m²
Agent: Alex Strever

34 William Pickering Drive, unit B:
Features: 597m² industrial unit – warehouse 446.1m², office 81.3m², retail 51.9m², other area 14.5m², 11 parking spaces
Rent: leased in September for $90,000/year net + gst
Agents: Laurie Burt & Matt Mimmack

Silverdale

30 Foundry Rd, unit 1:
Features: 670m² industrial unit – warehouse 477m², showroom 76m², office 106m², amenities 11m², canopy 31m², 11 parking spaces, in the 9000m² first stage of a new development on a 17,920m² site by Collabor8 Property Ltd (Euan Armstrong, Wayne Boocock & Gavin Brannigan)
Rent: leased in September for $127,070/year net + gst
Agents: Rosemary Wakeman

North-west

Henderson

Part 122-134 Lincoln Rd:
Features: 956m² industrial yard
Rent: leased in September for $28,000/year net + gst
Agents: Steven Liu & Meng He

Related story today: Chaudhary notches up fuel station sales

Attribution: Agency release.

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Live/work unit sells, 4 commercial units leased

A Rosedale live/work unit has been sold and 4 units – 2 industrial, one each of office & retail – leased in the latest round of transactions by Bayleys North Shore agents.

Sale

North-east

Rosedale

9 Lovell Court, unit G:
Features: 121m² – office downstairs, residential upstairs, 4 parking spaces, tenant Duke Le
Rent: $21,840/year net + gst
Outcome: sold in August for $667,000 + gst at a 3.27% yield
Agents: David Han & Ian Waddams

Leases

North-east

Milford

166 Kitchener Rd, suite D & K:
Features: 52m² office, parking space
Rent: leased at the end of July for $13,785/year net + gst, parking space at $25/week (equals $1300/year), rent excluding parking $12,485/year net + gst, premises rental $240/m²
Agent: Ian Waddams

Silverdale

12 Anvil Rd, unit 1:
Features: 274m² industrial unit – warehouse 224m², office 52m², 4 parking spaces
Rent: leased in August for $40,000/year net + gst
Agent: Rosemary Wakeman

Wairau Valley

7 Colway Place, unit A:
Features: 142m² industrial unit, 3 parking spaces
Rent: leased at the end of July for $23,000/year net + gst, warehouse 117m², office 25m²
Agent: Trevor Duffin

North-west

Kelston

1-3 West Coast Rd:
Features: 2m² retail in Chinese medical clinic
Rent: leased at the end of July for $5200/year net + gst, premises rental $2600/m²
Agents: Dev Choudhury & Meng He

Attribution: Agency release.

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4 suburban units sell at auctions

A Stonefields terrace, a Milford townhouse and 2 cross-leased units in Bucklands Beach were sold at Bayleys auctions last week.

Isthmus east

Stonefields

66A Tihi St:
Features: 3-bedroom terrace, 2.5 bathrooms, 2 parking spaces
Outcome: sold for $1.28 million
Agents: Cherry Killgour & Steve Leyland

North-east

Milford

1 Woodbridge Lane, unit 1:
Features: m², 2-level 3-bedroom standalone townhouse, 2 bathrooms, garage & second parking space
Outcome: sold for $1.03 million
Agent: Jennifer Keenan

South

Bucklands Beach

31 Gills Rd, units 1 & 2:
Features: cross-lease, 1002m² title, 2 2-bedroom units, carport each
Outcome: sold for $640,000 each
Agent: Tony de Leeuw

Attribution: Agency release.

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Milford & Rosedale properties sell under hammer

NAI Harcourts sold a Milford development site and a Rosedale property containing a mix of 5 tenancies at auction last week. An upstairs office unit in Wairau Park was passed in.

North-east

Milford

1 Wairau Rd:
Features: 895m² section zoned mixed business use, 4-bedroom house, marketed as development site
Outcome: sold for $2 million + gst
Agents: Michael Swarbrick & Tim Turner

Rosedale

4 Dallan Place:
Features: 1443m², 966.5m² floor area, 5 titles in one lot, mix of commercial, industrial plus residential tenancies
Outcome: sold for $3.2 million + gst at a 5.23% yield
Agents: Marty van Barneveld & Andrew Bruce

Wairau Park

20 Link Drive, upstairs unit OO:
Features: 91m² office, long-term tenant, 7 parking spaces (2 covered)
Outgoings: opex $9173/year, body corp levy $6207/year
Outcome: passed in
Agents: Aaron Smith & Nick Young

Attribution: Agency release.

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Restaurant property sells 3 weeks after no-bid auction

A Rosedale restaurant property which didn’t attract a bid at auction 3 weeks ago has now been sold on a 6.25% yield.

It was one of 2 May sales by Bayleys North Shore agents, who also completed 5 lease deals.

North-east

Sales

Rosedale

North Shore Plaza, 4 Arrenway Drive, unit G:
Features: 82m² Korean restaurant, 2 dedicated parking spaces + common parking
Rent: $36,750/year net + gst + outgoings, 4-year lease from April 2017, 3 4-year rights of renewal
Outcome: no bid at auction on 16 May, sold post-auction for $588,000 at a 6.25% yield
Agents: Mustan Bagasra & David Han

4 Ride Way, unit A:
Features: 360m² industrial unit occupied by Chargenet NZ Ltd on lease expiring in December, 2 levels of air-conditioned office & showroom, 6 parking spaces
Rent: $50,000/year net + gst
Outcome: sold in May for $1.075 million + gst at a 4.65% yield, $2986/m²
Agents: Laurie Burt, James Kidd & Matt Mimmack

Leases

Milford

6-8 Milford Rd, part level 1:
Features: 34m² office
Rent: leased from 17 May for $12,000/year net + gst, premises rental $353/m²
Agent: Caroline McNaught

Rosedale

48 Parkway Drive, unit A:
Features: 163m² industrial unit – warehouse 136m², office 27m², 4 parking spaces
Rent: leased from 15 May for $30,000/year net + gst, premises rental $184/m²
Agent: Laurie Burt

Silverdale

29B Peters Way:
Features: 280m² industrial unit – warehouse 210m², office 70m², 5 parking spaces
Rent: leased from 23 May for $36,000/year net + gst, premises rental $129/m² (nothing for parking)
Agents: Rosemary Wakeman & Trevor Duffin

Wairau Valley

19 Ashfield Rd, unit A:
Features: 130m² industrial unit – warehouse 118m², office 12m², 4 parking spaces
Rent: leased from 24 May for $23,000/year net + gst, premises rental $177/m² (nothing for parking)
Agent: Trevor Duffin

112 Sunnybrae Rd, unit 2:
Features: 141m² warehouse unit, 3 parking spaces
Rent: leased from 29 May at $23,000/year net + gst, premises rental $163/m² (nothing for parking)
Agent: Trevor Duffin

Attribution: Agency release.

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Office & retail premises leased in Albany, Milford & Penrose

Bayleys agents on the North Shore have leased 3 commercial properties at Albany, Milford and across in Penrose, one in partnership with Harcourts NAI.

Leases   

Isthmus east

Penrose

531 Great South Rd, tenancy 3:
Features: 357m² office, 2 parking spaces
Rent: leased in May for $77,580/year net + gst, parking $25/space/week, rental excluding parking $74,980, premises rental $210/m²
Agent: Brian Caldwell

North-east

Albany

21-25 Corinthian Drive, unit 14:
Features: 6.5m² retail unit, shared parking
Rent: leased in April for $12,000/year net + gst, premises rental $1846.15/m²
Agent: Steven Liu

Milford

121-123 Kitchener Rd, level 1, tenancy 1:
Features: 183m² office, 4 parking spaces
Rent: leased in May for $52,000/year net + gst, parking $30/space/week, rental excluding parking $45,760, premises rental $250/m²
Agents: Dean Gilbert-Smith (with Harcourts)

Attribution: Agency release.

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Onehunga warehouse sells at auction

An Onehunga warehouse (outlined in blue in photo) was sold at Colliers’ auction today, but a Milford property with potential upstairs development was passed in.

Isthmus east

Onehunga

51 Angle St:
Features: 556m² site zoned heavy industry, 413.8m² warehouse, 45.1m² office
Outcome: sold vacant for $1.345 million
Agents: Jeremy Barnett & Ben Cockram

North-east

Milford

83-85 Kitchener Rd:
Features: 261m² site, 295.7m² floor area, 2 first-floor apartments consented, 4 parking spaces
Rent: $98,000/year net from 2 ground-floor tenants, potential additional residential rent of $50,000/year
Outcome: passed in
Agents: Mike Ryan, Euan Stratton & Matt Prentice

Attribution: Auction documents.

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8 out of 12 sell at Bayleys’ auction

8 of the 12 commercial properties in Bayleys’ Total Property auction on Wednesday sold under the hammer. Heaviest bidding was between intending owner-occupiers for a Penrose property on Olive Rd (pictured). 

Isthmus east

Parnell

481 Parnell Rd:
Features: 300m² site zoned mixed use, in double grammar zone, 225m² 2-level character dwelling converted for commercial use with resource consent to demolish; new 4-year lease from May 2017 to Mt Hobson Properties Ltd (Hamish Firth)
Rent: $80,000/year net + gst
Outcome: sold for $2.45 million at a 3.26% yield
Agents: Alan Haydock, Damien Bullick & Phil Haydock

Penrose

9 Olive Rd:
Features: 2043m² site, 1281m² older style industrial building, 884m² manufacturing warehouse, 257m² of offices & amenities and 109m² of mezzanines, first time on market in 34 years
Outcome: sold with vacant possession for $3.32 million at $2591.7/m² land & building
Agents: John Bolton & Roy Rudolph

Royal Oak

Royal Oak Mall, 691 Manukau Rd, unit AL:
Features: 226m² retail unit, occupied by Paper Plus since 1993
Rent: $48,845/year net + gst
Outcome: no bid
Agents: Nicolas Ching & Beterly Pan

North-east

Milford

47 Nile Rd:
Features: 688m² site zoned neighbourhood centre, 2 roadfront shops (superette & Thai takeaway) totalling 132m² and 92m² residential dwelling occupied by superette tenant; longer-term redevelopment potential
Rent: $56,200/year net + gst
Outcome: sold for $1.56 million at a 3.6% yield
Agents: Eddie Zhong, Terry Kim & Ranjan Unka

170 Wairau Rd, unit 22:
Features: 180m² retail unit in rear portion of Wairau Junction convenience centre, occupied by Wairau Foods & Spices which renewed in February for 6 years
Rent: $55,500/year net + gst
Outcome: sold for $840,000 at a 6.61% yield
Agents: Matt Mimmack & Ashton Geissler

Silverdale

4 Titan Place, unit R:
Features: 169m² workshop & office unit built in 2007, 3-phase power, air-conditioning, security alarm system, 2 parking spaces; 2-year lease to Ice Industrial Engravers Ltd from 1 July 2017
Rent: $22,500/year net + gst
Outcome: sold for $426,000 at a 5.28% yield
Agents: Rosemary Wakeman & Mustan Bagasra

Warkworth

The Grange, 67 Auckland Rd, unit 21A:
Features: 61m² unit in retail complex, currently fitted out as office accommodation and leased to Hawthorn Geddes Engineers & Architects for 6 years from April 2017; could be converted to retail
Rent: $21,315/year net + gst
Outcome: sold for $432,000 at a 4.93% yield; auction brought forward, bidding starting at declared reserve of $338,500
Agents: Matt Lee & James Chan

The Grange, 67 Auckland Rd, unit 15:
Features: 367m² unit in retail complex occupied by Fit Factory gym for 6 years from March 2017
Outcome: no bid
Agents: Matt Lee & James Chan

North-west

Henderson

114 Henderson Valley Rd:
Features: 2140m² site, 80-unit storage complex
Rent: $145,218/year net + gst
Outcome: passed in on vendor bid of $1.7 million
Agents: Shane Snijder & James Hill

Hobsonville

160 Hobsonville Point Rd, unit 5R:
Features: 118m² ground-floor retail unit, 2 parking spaces occupied by café on 10-year lease
Rent: $56,200/year net + gst
Outcome: no bid
Agents: Steven Liu & Eddie Zhong

South

Manurewa

232 Great South Rd:
Features: 2141m² site, 2025m² bulk retail building owned & occupied by family furniture business for 20 years, 2-year lease back
Rent: $170,000/year net + gst
Outcome: sold for $2.4 million at a 7.08% yield
Agents: Shane Snijder & Piyush Kumar

Papakura

32 Elliot St:
Features: 809m² corner site, 2-level main building, 157m² of ground-floor offices plus 106m² residential floor & 36m² terrace above currently occupied by beauty therapy business; 1920s 90m²  bungalow at rear with separate entrance & residential tenancy
Rent: $46,540/year net + gst from 2 commercial leases; $23,400/year from residential tenancy
Outcome: sold for $1.32 million at a 5.3% yield
Agents: Rod Grieve & Peter Migounoff

Attribution: Agency release.

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