Archive | Takapuna

Corrected: Third unit leased in new Silverdale industrial development

Published 22 July 2018, corrected 23 July 2018
The third unit has been leased in a 10-unit office, showroom & warehouse development in the Silverdale industrial area on the Hibiscus Coast (pictured).

The 9000m² first stage of the new development by Collabor8 Property Ltd (Euan Armstrong, Wayne Boocock & Gavin Brannigan), on a 17,920m² site on Foundry Rd, is expected to be completed in October.

The units are in a range of 450-700m², with stud heights of at least 10m.

That lease, by Bayleys agent Rosemary Wakeman, is among 2 sales & 5 leases completed by the agency’s North Shore branch this month.

Correction: Some details on the first sale below, the premises on Victoria Rd, Devonport, have been corrected.

North-east

Sales

Devonport

Corrected: 81 Victoria Rd:
Features: 149m² site, 390m² mixed use premises – shop occupied by Nature Spirit Ltd, vacant office, upstairs flat
Rent: $68,872/year net + gst current, less irrecoverable opex from the flat; potential for further $25,000/year net from the office
Outcome: sold for $1.55 million + gst at site price of $10,403/m²; I’ve removed yield calculation because it didn’t reflect the (still unquantified) opex and did include the potential
Agents: Adam Watton & Adam Curtis

Wairau Valley

170 Wairau Rd, unit 10:
Features: 59m² office unit, tenant Motor Trade Finance Ltd
Rent: $39,000/year net + gst
Outcome: sold in July for $730,000 + gst at $12,373/m², 5.34% yield
Agents: Adam Watton & Adam Curtis

Leases

Silverdale

30 Foundry Rd, unit 2:
Features: 511m² industrial unit – warehouse 291m², showroom 106m², office 114m², canopy 31m², 8 parking spaces; developed by Collabor8 Property Group Ltd (Euan Armstrong, Wayne Boocock & Gavin Brannigan)
Rent: leased in July for $99,250/year net + gst, premises rental $194/m² (parking not separately charged)
Agent: Rosemary Wakeman

Takapuna

16 Como St, level 1:
Features: 80m² office or retail space, 2 parking spaces
Rent: leased in July for $28,000/year net + gst, premises rental $350/m² (parking not separately charged)
Agents: Dev Choudhury

33 Hurstmere Rd, shop 1:
Features: 21.7m² shop
Rent: leased in July for $26,000/year net + gst, premises rental $1198/m²
Agent: Ildy Meixner

360-362 Lake Rd:
Features: 189m² shop
Rent: leased in July for $85,000/year net + gst, premises rental $450/m² + gst
Agent: Dean Gilbert-Smith

Wairau Valley

3 Kaimahi Rd, unit A:
Features: 331m² industrial unit – warehouse 195.7m², office 135.1m², 6 parking spaces
Rent: leased in July for $48,000/year net + gst, premises rental $145/m² (parking not separately charged)
Agent: Trevor Duffin

Attribution: Agency release.

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Sentinel apartment sells

A mid-level apartment in the Sentinel in Takapuna was sold yesterday at Bayleys’ auction.

North-east

Takapuna

The Sentinel, 3 Northcroft St, unit 1403:
Features: 98m², 2 bedrooms, each with ensuite & walk-in wardrobe, third guest bathroom, tandem parking, extra storage unit
Outcome: sold for $1.25 million at auction brought forward
Agents: Owen Griffiths & Joan Barton

Attribution: Agency release.

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Takapuna office building sells at 6.4%, auctionroom stalls

An office building occupied by the NZ Institute of Education’s Takapuna campus (pictured) has been sold by Barfoot & Thompson Commercial agents at a 6.4% yield.

Across at the agency’s city auction session this morning, a retail space at Glen Eden without even a disclosed size didn’t attract a bidder and the auction of an Aura apartment, having gone close to a sale, stalled – and it was passed in half an hour later.

Given that auctionroom non-performance, I’ll limit my visits to auctions where same-day outcomes look a reasonable prospect.

Commercial

North-east

Takapuna

62-64 Anzac St:
Features: 5682m² net lettable area, 12-level office building, 196 parking spaces
Rent: $2,748,562/year net + gst from 24 tenancies
Outcome: sold for $43 million at a 6.39% yield
Agents: Elaine Tutty & Bruce Jiao

North-west

Glen Eden

1 Westech Place:
Features: vacant retail space
Outgoings: body corp levy $1003/year
Outcome: no bid
Agent: Paul Greenwood

Residential

CBD

Victoria Quarter

Aura, 53 Cook St, unit 506:
Features: 49m² + balcony, 2-bedroom apartment
Outgoings: body corp levy $4513/year
Outcome: passed in at $410,000
Agents: Selina Zheng & Tommy Zhang

Attribution: Agency release, auction.

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Updated: 3 sell out of 8 at Ray White auction

Published 28 June 2018, updated 30 June 2018:
3 of the 8 apartments auctioned at Ray White City Apartments sold under the hammer, including one of the 2 units in the Volt, above Mayoral Drive (pictured).

Update: Full apartment details now posted.

CBD

Learning Quarter

Cambridge, 43 Anzac Avenue, unit 506:
Features: 18m² studio
Outgoings: rates $952/year including gst; body corp levy $4640/year including water & electricity
Income assessment: $320/week fixed until November; appraisal, $320-330/week furnished
Outcome: passed in at $150,000, back on market at $190,000
Agents: May Ma & Mark Li

Quay Park

Scene 3, 30 Beach Rd, unit 605:
Features: leasehold, 83m², 2 bedrooms, study, 2 bathrooms, deck, 2 parking spaces
Outgoings: rates $1721/year including gst; body corp opex levy $6253/year, ground lease $12,998/year
Outcome: no bid
Agent: James Mairs

Uptown

Volt, 430 Queen St, unit 117:
Features: 38m² + balcony, furnished 2 bedrooms, new furniture package a year ago
Outgoings: rates $1149/year including gst; body corp levy $3570/year
Income assessment: $2167/month from tenancy ending 17 July
Outcome: passed in at $340,000, back on market at $389,000
Agents: Judi & Michelle Yurak

Volt, 430 Queen St, unit 1416:
Features: 38m² + balcony, furnished 2 bedrooms,
Outgoings: rates $1240/year including gst; body corp levy $3975/year
Income assessment: $470-490/week furnished
Outcome: sold for $370,000
Agents: Judi & Michelle Yurak

Victoria Quarter

Zest, 72 Nelson St, unit 802:
Features: 38m² + balcony, furnished 2 bedrooms, secure parking space
Outgoings: rates $1266/year including gst; body corp levy $4150/year (water not included)
Income assessment: $450/week fixed until end November, $55/week for parking
Outcome: sold for $395,000
Agents: Judi & Michelle Yurak

Isthmus east

Mt Wellington

Thompson Park apartments, 8 Thompson Park Rd, unit 46:
Features: 91.1m² including 10.4m² balcony, 2 bedrooms, 2 bathrooms, study, heat pump, 2 parking spaces (one covered), storage locker
Outgoings: rates $1921/year including gst; body corp levy $2968/year
Income assessment: $680-720/week
Outcome: no bid
Agent: Steve King

North-east

Takapuna

Spencer on Byron, 9-17 Byron Avenue, unit 1807
Features: 48m², one bedroom, balcony, parking space
Outgoings: rates $1295/year including gst; body corp levy $3456/year
Income assessment: currently rented out on Airbnb
Outcome: passed in at $395,000
Agents: James Mairs & Gillian Gibson

South

Flat Bush

11 Carlos Drive, unit 12:
Features: 90m² including deck, 2 bedrooms, 2 ensuites, top floor, 2 bathrooms, 2 covered parking spaces; building defects identified, owner passing full rights to buyer
Outgoings: rates $1672/year including gst; body corp levy $5081/year
Income assessment: $480/week current, long-term tenant
Outcome: sold for $115,000
Agents: Dominic Worthington & Ady Huang

Attribution: Auction.

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Sale & 4 leases on Shore

Bayleys commercial agents on the North Shore have sold a Takapuna unit used by a medical tenant and leased 4 properties.

North-east

Sale

Takapuna

2 Ngaio St, unit 1:
Features: 120m² mixed-use premises, tenant North Shore Chiropractic Ltd, 4 parking spaces
Rent: $39,000/year net + gst
Outcome: sold in May for $798,000 + gst at $6650/m², 4.89% yield
Agents: Adam Curtis & Adam Watton

Leases

Albany

18 Oteha Valley Rd Extension, unit A9:
Features: 64m² office, parking space
Rent: leased in June for $18,000/year net + gst, premises rental $281/m²
Agents: leased by Caroline McNaught, Laurie Burt & Jane McKee

Birkenhead

12 Birkenhead Avenue, shop 2:
Features: 175m² shop, parking space
Rent: leased in May for $50,000/year net + gst, premises rental $289/m²
Agents: Dev Choudhury & Michael Nees

Forrest Hill

1-11 Grenada Avenue, shop 6:
Features: 64m² shop
Rent: leased in May for $13,200/year net + gst, premises rental $206/m²
Agents: Dev Choudhury

Hauraki

332 Lake Rd:
Features: 342m² car yard – yard 302m², office 40m²
Rent: leased in June for $36,000/year net + gst, premises rental $105/m²
Agents: Dean Gilbert-Smith

Attribution: Agency release.

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4 apartments out of 6 sell at Ray White auction

4 of the 6 apartments auctioned at Ray White City Apartments today were sold, one of them moments after the auction had closed.

That unit was one of 2 on offer in the Century on Anzac (pictured), which is entering a remediation period. The other unit was passed in.

Units in the Victopia & Volt in the cbd, and Spencer on Byron in Takapuna were also sold.

CBD

Learning Quarter

Century on Anzac, 100 Anzac Avenue, unit 2H:
Features: 31m² studio
Outgoings: rates $942/year including gst; body corp levy $2686/year + remediation investigation levies of $6086
Income assessment: $360/week fixed until 24 November, appraisal $350-375/week
Outcome: passed in at $160,000, sold immediately after auction for $165,000
Agent: Krister Samuel

Century on Anzac, 100 Anzac Avenue, unit 7F:
Features: 38m², one bedroom
Outgoings: rates $1058/year including gst; body corp levy $3680/year
Income assessment: $400/week current
Outcome: passed in at $165,000
Agents: Dominic Worthington & Ady Huang

Uptown

Volt, 430 Queen St, unit 1111:
Features: 41m² including balcony, 2 bedrooms
Outgoings: rates $1214/year including gst; body corp levy $4458/year
Outcome: sold for $395,000
Agent: Victor Liu

Victoria Quarter

Aura, 53 Cook St, unit 304:
Features: 49m², 2 bedrooms
Outgoings: rates $1175/year including gst; body corp levy $4303/year
Income assessment: $530-560/week furnished
Outcome: passed in at $370,000
Agents: May Ma & Mark Li

Victopia, 135 Victoria St West, unit 2L:
Features: 38m², furnished one bedroom
Outgoings: rates $1071/year including gst; body corp levy $1456/year
Income assessment: $400/week, fixed until 22 October
Outcome: sold for $215,000
Agents: James Mairs & Gillian Gibson

North-east

Takapuna

Spencer on Byron, 9-17 Byron Avenue, unit 311:
Features: 59m², one bedroom, parking space; work on remediation has started
Outgoings: rates $1191/year including gst; body corp levy $3074/year
Outcome: sold for $330,000
Agents: James Mairs & Gillian Gibson

Attribution: Auction.

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5 sales & 6 leases

Bayleys agents have completed 5 sales on the North Shore, in Henderson and on Waiheke Island, and 6 leases in the Auckland cbd, Avondale and on the Shore.

Sales

Hauraki Gulf islands

Waiheke Island

171 Carsons Rd:
Features: 8.95ha of land
Outcome: sold in May for $2.85 million + gst
Agents: Ranjan Unka & Brian Caldwell

North-east

Birkenhead

27-33 Mokoia Rd, unit 4:
Features: 59m² retail unit occupied by cafe on new 2-year lease with 2 2-year rights of renewal sold for $502,000 at a 4.98% yield
Rent: $25,000/year net + gst
Outcome: sold for $502,000 at a 4.98% yield
Agents: Owen Ding, Oscar Kuang, Michael Nees

27-33 Mokoia Rd, unit 5:
Features: 59m² retail unit occupied by Kebab Serai, one of the Turkish takeaway’s 4 Auckland outlets, on a lease until April 2020, 2 5-year rights of renewal
Rent: $24,000/year net + gst
Outcome: sold for $500,000 at a 4.8% yield
Agents: Owen Ding, Oscar Kuang & Michael Nees

Takapuna

8-12 The Promenade:
Features: 817m² corner site zoned metropolitan centre, frontage to 3 cbd streets, 1672m² 2-level commercial building, anchored by 2 restaurants & gym, range of office tenancies on the upper level & 373m² of vacant space, 18 open-air, rooftop parking spaces; 10 leases have final expiries ranging from 2018-28 and all but 2 have demolition clauses
Rent: $415,091/year net + gst
Outcome: sold for $7.4 million at a 5.61% yield
Agent: Brian Caldwell

North-west

Henderson

9-11 Aetna Place:
Features: 8712m² site, 6495m² industrial premises – 5095m² warehouse, 8.9-10.35m stud, multiple roller doors & 1120m² canopy, office & amenities 280m²
Outcome: sold with vacant possession for $9 million
Agents: Sunil Bhana, James Valintine, Mike Houlker & Matt Mimmack

Leases

CBD

Victoria Quarter

118-122 Nelson St:
Features: 1344m² office, 18 parking spaces
Rent: leased in April for $346,522/year net + gst (based on an average over 10 years), parking $50/space/week, premises rental $223/m²
Agents: Tonia Robertson + Jean Paul Smit

Isthmus west

Avondale

419A Rosebank Rd:
Features: 1692.39m² industrial property – warehouse 1,509.19m², showroom 137.17m², office 46.03m², 15 parking spaces
Rent: leased in April for $202,868.85/year net + gst, premises rental $120/m²
Agents: Tonia Robertson & Mark Preston

North-east

Albany

287 Oteha Valley Rd, unit 5:
Features: 150m² retail, shared parking
Rent: leased in April for $85,000/year net + gst, premises rental $566/m²
Agents: Steven Liu, Matt Lee & Quinn Ngo

Birkenhead

80-94 Mokoia Rd, shop 1B, 2 & 3:
Features: 429.3m² shop, 7 parking spaces
Rent: leased in April for $129,932/year net + gst, parking $20-25/space/week, premises rental $303/m²
Agent: Ildy Meixner

Wairau Valley

7 Kaimahi Rd:
Features: 958m² industrial unit warehouse 708m², office 83m², mezzanine 167m², 8 parking spaces
Rent: leased in May for $115,000/year net + gst, premises rental $120/m²
Agents: Trevor Duffin & Eddie Zhong

16 Woodson Place, unit C:
Features: 638m² industrial unit – warehouse 506m², office 120m², other 12m², 11 parking spaces
Rent: leased in May for $83,090/year net + gst, premises rental $130/m²
Agent: Trevor Duffin

Attribution: Agency release.

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2 retail sales, 4 leases on Shore

Bayleys agents on the North Shore have completed 2 retail property sales in Devonport & Hauraki and 4 leases, including 2 on Taharoto Rd, Takapuna.

North-east

Sales

Devonport

69-71 Victoria Rd:
Features: 443m² retail – retail area 227m², office 109m², other area 107m², 4 parking spaces, tenants Brolly Sheets, Yarntons & Monsoon
Rent: $143,650/year net + gst
Outcome: sold in April for $2.15 million + gst at $5780/m², yield 6.68%
Agents: Adam Curtis & Adam Watton

Hauraki

Details of a Hauraki sale have been removed as confidential.

Leases

Albany

63 Corinthian Drive, level 1, unit 4:
Features: 78m² office, 2 parking spaces
Rent: leased in April for $30,000/year net + gst
Agent: Jane McKee

Rosedale

9-11 Lovell Court, unit Q:
Features: 136m² industrial unit – office 68m², warehouse 68m², 4 parking spaces
Rent: leased in April for $28,000/year net + gst
Agents: Zoran Popovich & Laurie Burt

Takapuna

39 Taharoto Rd, level 1, tenancy B & C:
Features: 189m² office, 5 parking spaces
Rent: leased in April for $60,080/year net + gst, parking $40/space/week, rental excluding parking $49,680, premises rental $262.85/m²
Agents: Dean Gilbert-Smith, Adam Watton & Adam Curtis

68-76 Taharoto Rd, level 2, suite 16:
Features: 90m² office,
Rent: leased in April for $137,403/year net + gst, premises rental $1526.70/m²
Agent: Dean Gilbert-Smith

Attribution: Agency release.

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8 sales & 11 leases from Silverdale to city to Westgate

Bayleys North Shore agents have notched up 8 sales & 11 leases of commercial property from Silverdale down to the inner city and across to Henderson & Westgate.

Sales

CBD

Learning Quarter

76 Anzac Avenue:
Features: 356m² site, 1097m² 3-storey office building, one parking space
Rent: $60,000 net + gst, plus $96,000 gross + gst
Outcome: sold 2 weeks ago for $5.3 million + gst at $4831/m², 2.94% yield
Agent: Tonia Robertson

North-east

Rosedale

60 Apollo Drive:
Features: 1729m² site, 1301m² industrial premises tenant Wallace Cotton Ltd
Rent: $228,210/year net + gst
Outcome: sold in March for $5.1 million + gst, at $3920/m², 4.47% yield
Agent: Matt Mimmack

15 Lovell Court, unit 12:
Features: 100m² office, 2 parking spaces
Rent: $28,600/year net + gst at $3350/m², 8.54% yield
Outcome: sold in April for $335,000 + gst
Agents: David Han & Annette Lum

Rothesay Bay

2-8 Montgomery Avenue:
Features: 316m² site, 190m² retail, 3 parking spaces
Rent: $70,000/year net + gst
Outcome: sold in March for $1.185 million + gst, at $3750/m², 5.9% yield, 3 weeks after being passed in at $1.1 million at auction
Agents: Brian Caldwell, Adam Curtis & Michael Nees

Wairau Valley

17 Ashfield Rd:
Features: 1017m² site, 692m² building, 5 industrial units on one title
Rent: $75,600/year net + gst
Outcome: passed in at March auction at $1.535 million, sold a week ago for $1.7 million at $2457/m², 4.45% yield
Agents: Trevor Duffin & Ranjan Unka

18 Link Drive, unit H:
Features: 462.09m² bulk retail unit – showroom 358.8m², mezzanine area 103.29m², 12 parking spaces
Outcome: sold in March with vacant possession for $1.4 million + gst, at $3030/m²
Agents: Trevor Duffin & Chris White

63 View Rd:
Features: 5885m² industrial site, 3093.8m² building – warehouse 2693.8m², office 400m², 15 parking spaces
Outcome: sold vacant for $6.6 million + gst, at $2133.30/m²
Agents: Tonia Robertson & Laurie Burt

North-west

Westgate

1 Kawakawa Place:
Features: 3,223m² site, 1858m² retail & childcare property, 40 parking spaces
Rent: $562,464/year net + gst
Outcome: sold in March for $9.375 million, at $2909/m², 6% yield
Agent: Brian Caldwell

Leases

North-east

Orewa

50 Centreway Drive, part level 1:
Features: 266.75m² office, 10 parking spaces; Auckland Council Orewa service centre & former council chamber building, council committee to decide on Tuesday whether it will be sold
Rent: leased in April for $66,687.50/year net + gst, premises rental $250/m²
Agents: Tonia Robertson & Mustan Bagasra

Rosedale

36 Arrenway Drive, unit B:
Features: 307m² industrial unit – warehouse 148m², showroom 79.5m², office 79.5m², 6 parking spaces
Rent: leased in March for $58,000/year net + gst, premises rental $189/m²
Agent: Laurie Burt

7 Douglas Alexander Parade, unit C:
Features: 298.7m² industrial unit – warehouse 121m², office 177.7m², 8 parking spaces
Rent: leased in March for $54,000/year net + gst, premises rental $181/m²
Agents: Caroline McNaught & Laurie Burt

2 Rothwell Avenue, unit F:
Features: 704m² industrial unit – warehouse 462.6m², office 241.4m², 10 parking spaces
Rent: leased in March for $105,000/year net + gst, premises rental $149/m²
Agents: James Kidd, Chris White & Laurie Burt

Part 15-17 William Pickering Drive:
Features: 836m² industrial & office unit – warehouse 638m², office 198m², 14 parking spaces
Rent: leased in March for $134,780/year net + gst, premises rental $161/m²
Agents: Laurie Burt & Tonia Robertson

Silverdale

30 Foundry Rd, unit 9:
Features: 590m² industrial unit – warehouse 419m², showroom 51m², office 89m², other area 31m², 8 parking spaces
Rent: leased in January for $105,000/year net + gst, premises rental $180/m²
Agent: Rosemary Wakeman

150 Foundry Rd, unit D2:
Features: 75m² office unit, 2 parking spaces
Rent: leased in March for $15,000/year net + gst, premises rental $200/m²
Agent: Rosemary Wakeman

Takapuna

15 Auburn St, unit 1A:
Features: 50m² office, parking space
Rent: leased in March for $18,000/year net + gst, premises rental $360/m²
Agent: Chris White

29 Northcroft St, part lower ground floor:
Features: 280.7m² office, 5 parking spaces
Rent: leased in March for $69,920/year net + gst, 2 parking spaces at $45/space/week each, 3 parking spaces at $35/space/week each
Agents: Jane McKee, Eddie Zhong & Dean Gilbert-Smith

Wairau Valley

101-111 Diana Drive, unit 17 (M):
Features: 970m² industrial unit – warehouse 690m², showroom 140m², office 140m²
Rent: leased in April for $165,000/year net + gst, premises rental $170/m²
Agent: Trevor Duffin

North-west

Henderson

42 Paramount Drive, units 6 & 7:
Features: 280m² retail unit
Rent: leased in March for $80,000/year net + gst, premises rental $286/m²
Agents: Terry Kim & David Han

Attribution: Agency release.

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Updated: Spencer apartment sold, SugarTree unit passed in

Quite how I managed this error I don’t know, seeing that I was standing in the auction room. My post on the Ray White City Apartments auction yesterday said a unit in the Spencer on Byron in Takauna was passed in: it was sold under the hammer.

A new Centro unit in the SugarTree apartments development at the top of Nelson St was passed in.

CBD

Victoria Quarter

SugarTree Centro, 145 Nelson St, unit 1114:
Features: 116m², 3 bedrooms, 2 bathrooms, parking space
Outgoings: rates to be assessed; body corp levy $6209/year
Outcome: passed in at $900,000
Agents: Dominic Worthington & Ady Huang

North-east

Takapuna

Spencer on Byron, 9-17 Byron Avenue, unit 1413:
Features: 48m², fully furnished one bedroom, parking space, remediation work about to start
Outgoings: rates $1282/year including gst; body corp levy $3354/year
Income assessment: $550/week
Outcome: sold for $460,000
Agents: James Mairs & Gillian Gibson

Attribution: Auction.

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