Archive | Hawkes Bay

7 sales ranging from mainstreet to backblocks

Colliers agents have completed 7 commercial, industrial & rural sales at St Johns in Auckland, Hamilton, Hastings and Te Karaka (between Gisborne & Opotiki).

Isthmus east

St Johns

4 Farmhouse Lane:
Features: 2154m² site, 1629m² warehouse & office
Rent:
Outcome: sold with vacant possession for $4.35 million
Agents: Hamish West & Andrew Hooper

South of the Bombays

East Coast

Te Karaka

319 Whatatutu Rd:
Features: 38.8ha farm – 20ha of fertile cropping land, 18ha of grazing land, 3ha leased to a local nursery, large shed complex
Outcome: sold at auction with vacant possession for $1.15 million
Agents: David Egan & Alan Thorpe

Hawke’s Bay

Hastings

1026 Heretaunga St West:
Features: 456m² retail unit leased to ANZ Bank, 19 parking spaces
Outcome: sold for $1.805 million at a yield of 6.06% yield
Agent: Danny Blair

200 Market St:
Features: 3640m² retail & office property, predominantly leased to Kiwibank
Outcome: sold to an investor for $7,085,740 at a 6.13% yield
Agent: Danny Blair

822 Omahu Rd:
Features: 510m², new industrial development leased to engineering supplies company SaecoWilson
Outcome: sold for $1.46 million at a 4.65% yield
Agent: Danny Blair

Waikato

Frankton

279 Kahikatea Drive & 19 Wickham St:
Features: 2.44ha site in 2 titles, 6918m² warehouse
Outcome: sold for $8.3 million
Agents: Alan Pracy & Mark Brunton

Hamilton

26 Clarence St:
Features: 2009m² site, commercial office building,
Outcome: sold for $1.884 million
Agents: Alan Pracy & Mark Brunton

Attribution: Agency release.

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5 commercial & industrial sales in Auckland & south of Bombays

Colliers agents have sold 4 properties around Auckland, 2 at auction, and another 5 in the Bay of Plenty, Hawke’s Bay & Taranaki.

CBD

Uptown

5-7 Galatos St:
Features: 706m² site zoned business – city centre, allowing development to 30m high, 712.9m² building, headquarters of social enterprise Eat My Lunch Ltd, 100m from soon-to-be-constructed Karangahape city rail link station
Rent: $189,950/year net + gst, 8-year lease from 2016, 2 rights of renewal
Outcome: sold at auction brought forward for $4.35 million + gst, at a 4.37% yield
Agents: Shoneet Chand & Jonathan Lynch

Isthmus east

Newmarket

5 Broadway:
Features: 819m² site, 770m² commercial building
Outcome: sold for $6.75 million at a 4.4% yield
Agents: David Burley & Adam White

Isthmus west

Westmere

127-131 West End Rd:
Features: 741m² site zoned neighbourhood centre, redevelopment potential, 200m² floor area, 3 retail tenancies, rear parking
Rent: $45,620/year net + gst + opex
Outcome: sold at auction for $3 million + gst, at a 1.52% yield
Agents: Kris Ongley, Jonathan Lynch & Leroy Wolland

South

Half Moon Bay

490 Pakuranga Rd:
Features: 350m² retail block, 4 tenancies ranging from 70-130m²
Outcome: sold for $2.9 million + gst, at a 5.74% yield
Agents: Gawan Bakshi & Matthew Barnes

South of the Bombays

Bay of Plenty

Tauranga – Judea

19-25 Montgomery Rd:
Features: 3381m² industrial site in 3 titles, 2024m² net lettable area, high stud warehousing
Rent: $179,013/year net + gst
Outcome: sold for $2.85 million + gst, at a 6.28% yield
Agents: Rich Davidson & Rob Schoeser

Hawke’s Bay

Hastings – Twyford

1137 Omahu Rd:
Features: 15,568m² site zoned general industrial, redevelopment site containing a lifestyle block with a 240m² house, 448m² steel portal shed, 112m² canopy
Outcome: sold for $1.8 million + gst
Agents: Rob Nankervis & Hadley Brown

1424C Omahu Rd, unit 1:
Features: 3742m² industrial property, 1640m² 7m-stud warehouse & office, 1400m² sealed yard
Rent: $152,600/year net + gst, with 3-month break clause
Outcome: sold for $1.8 million + gst, at an 8.48% yield
Agent: Rob Nankervis

Napier

Whakatu industrial park, 50 Johnston Way:
Features: 11,130m² industrial property, single-storey specialist processing facility
Rent: $251,286/year net + gst from multiple tenants
Outcome: sold for $2,479,800 + gst, at a 10.1% yield
Agent: Rob Nankervis

Taranaki

New Plymouth – Bell Block

87 Corbett Rd:
Features: 6689m² site, 725m² building – warehouse 457m², office 268m² on ground floor & mezzanine, 3000m² subdivisible yard, 19 parking spaces
Rent: market assessment $102,500/year net + gst
Outcome: sold vacant for $1.375 million + gst
Agent: Benet Carroll

Attribution: Agency release & agent documents.

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Tauranga development site & half of Hastings mega centre sold

The developer of the Park Mega Centre in Hastings (pictured above), Advance Properties Group Ltd (Gordon Johnstone & Warren Ladbrook), has sold 4 of the centre’s 8 large format stores for $21 million through Bayleys.

2 years ago they sold the Warehouse property in the centre for $17.5 million.

Briscoes & Rebel Sport are the anchor tenants in the buildings sold this time. The rest of the space in the sale is occupied by The Clearance Shed, Pet Stock & Noel Leeming.

In Tauranga, a site occupied by the vacant Durham Motor Inn, which can be redeveloped up to a height of 49m, has also been sold by Bayleys.

South of the Bombays

Bay of Plenty

Tauranga

 

The vacated Durham Motor Inn in Tauranga (outlined).

60 Harrington St:
Features: 2755m² site with 4 road frontages, 1160m² 20-unit motel complex & 148m² office building; city centre zoning provides redevelopment options with a maximum building height of 49m
Outcome: sold for $8.025 million + gst with vacant possession
Agents: Brendon & Lynn Bradley

Hawke’s Bay

Hastings

536-612 Karamu Rd North:
Features: 9359m² site in Park Mega Centre (plus share of common parking & vehicle access areas), 4 modern bulk retail buildings totalling 7557m² on separate freehold titles; Briscoes/Rebel Sports is the anchor tenant occupying net lettable area of 3848m² on 9-year lease, other occupants are The Clearance Shed on an initial 13-year lease, Pet Stock on 7 years & Noel Leeming on 6 years
Rent: $1,359,100/year net + gst
Outcome: sold for $21 million + gst at a 6.47% yield
Agents: Sunil Bhana, Mike Houlker, Rollo Vavasour & Mark Hourigan

Attribution: Agency release.

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7 sales around North Island

Published 5 September 2018
4 Hastings building and others in Waipukurau, Palmerston North & New Plymouth (pictured) have been sold in Bayleys’ latest round of sales around the North Island.

South of the Bombays

Hawke’s Bay

Hastings

402 Avenue Rd:
Features: 1012m² site, 320m² workshop, roller door access, seismic assessment 75% of new building standard
Outcome: sold vacant for $520,000 + gst
Agent: Jake Smith

1010 Heretaunga St West:
Features: 842m² site, dual access, 350m² single-level retail building
Outcome: sold vacant for $280,000 + gst
Agents: Daniel Moffitt & Jake Smith

301-303 Queen St East:
Features: 1286msite with twin street frontage, 1016m2  2-level office building, 550m² first floor vacant, 10+ parking spaces
Rent: $85,000/year net + gst from ground-floor lease
Outcome: sold for $1.7 million + gst
Agents: Rollo Vavasour & Jake Smith

27 Railway Rd:
Features: 1.3844ha zoned main industrial, 6994m² high stud warehouse, onsite bore with substantial water take consent
Outcome: sold with vacant possession for $2.835 million + gst
Agent: Paul Garland

Waipukurau

2322 State Highway 2:
Features: 1.45ha site with development potential, 1409m² modern high stud warehouse, 6-year lease, 4 4-year rights of renewal
Rent: $86,556/year net
Outcome: sold for $900,000 + gst at a 9.62% yield
Agents: Rollo Vavasour & Andy Hunter

Manawatu

Palmerston North

208 John F Kennedy Drive:
Features: 6077m² site, arterial road frontage, 2500m² building constructed in 1980, former head office & call centre of Ezibuy, seismic assessment 68% of new building standard, 66 parking spaces
Outcome: sold vacant by overseas owner to owner-occupier for $2.222 million + gst
Agents: Ed Donald & Dave Looney

Taranaki

New Plymouth – Bell Block

141-145 Connett Rd East:
Features: Purpose-built trucking depot comprising 3 adjoining sites totalling 3.14ha, middle site has 3 warehouses totalling 4845m², balance of the land used for truck parking & storage, new 10-year lease to Symons Transport Ltd
Rent: $613,288/year net + gst, 2% annual increases
Outcome: sold for $7.55 million  + gst at an 8.1% yield
Agents: Mike Houlker, Sunil Bhana, Alan Johnston & Iain Taylor

Attribution: Agency release.

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4 out of 6 sell at Bayleys’ Hauraki, Hawke’s Bay & Waikato auctions

4 properties were sold at Bayleys’ final Total Property 5 auction round last Thursday, out of 6 on offer.

The auctions covered the Hauraki Plains, Hawke’s Bay & Waikato. A Gull service station plus development land (pictured) at Ngatea was sold on a 5.7% yield. Other sales were at Napier, Hamilton & Te Awamutu.

South of the Bombays

Hauraki

Ngatea

44 Orchard Rd West:
Features: 1624m² site on State Highway 2, 96m² canopy for fully automated Gull fuel station; Gull NZ Ltd has 10-year lease plus 4 5-year rights of renewal; chattels include 60,000 & 50,000-litre fuel storage tanks, 3 self-service pumps, 4 filling stations & vapour recovery lines; unused land at rear of site accessed via service lane could offer opportunity for further development
Rent: $57,783/year net + gst
Outcome: sold for $1.02 million at a 5.66% yield
Agent: Josh Smith

Hawke’s Bay

Napier

110 Kennedy Rd:
Features: 126m² site in Marewa Shopping Centre, 250m² commercial building recently strengthened to 80% of new building standard; ground floor occupied by Canton Wok restaurant, second tenant occupies upstairs office space
Rent: $26,692/year net + gst
Outcome: sold post-auction for $585,000 at a 4.56% yield
Agent: Sam MacDonald

Waikato

Hamilton

Dinsdale

38 Whatawhata Rd:
Features: 90m² unit in suburban retail centre, previously operated as a beauty salon, comprising a reception & workspace area, 3 treatment rooms with separate heat pumps, staff room & bathroom
Outcome: sold vacant for $350,000
Agent: Jason Kong

Te Awamutu

106 Alexandra St:
Features: 479m² corner cbd site, 505m² bank building strengthened to seismic rating of 100% of new building standard; Westpac has occupied it since 1999 and is on 6-year term from August 2017
Rent: $104,000/year gross + gst
Outcome: sold for $1.5 million at a net 6.25% yield
Agents: Josh Smith & Blair Hutcheson

Attribution: Agency release.

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3 Airport Oaks sales, complex deal in Napier

Colliers agents have sold 3 warehouse & office properties in the Airport Oaks precinct in Auckland. In one of 2 Napier transactions, 4 corner properties were sold in a multi-vendor deal.

South 

Airport Oaks

14 Amelia Earhart Avenue:
Features: 3887m² gated site, 1257m² 2-level office building, 59 parking spaces
Rent: $330,838/year net + gst
Outcome: sold for $4.2 million + gst at a 7.9% yield
Agents: Brad Johnston, Paul Jarvie & Matthew Barnes

39B Rennie Drive:
Features: 392m² warehouse & office unit leased to Cross Fit Oaks Ltd, & fitted out as a gym
Rent: $37,836/year net + gst
Outcome: sold for $920,000 + gst at a 4.1% yield
Agent: Ash Vincent

64 Richard Pearse Drive:
Features: 10,165m² site, 3869m² warehouse & office
Outcome: sold for $8.5 million + gst
Agents: Brad Johnston, Dwayne Warby, Paul Jarvie & Dean Collins

South of the Bombays

Hawke’s Bay

Napier

60 Prebensen Drive:
Features: 5014m² industrial site with less than 10% site coverage, 960m² building on fringe of Onekawa large-format retail precinct
Rent: $100,000/year net on lease expiring in November
Outcome: sold for $2.35 million at a 4.26% yield on current rent
Agent: Dan Walker

57, 59 & 65 Thackeray St and 15 Faraday St:
Features: 4 adjoining properties at the corner of Faraday & Thackeray Sts, Napier South
Outcome: sold in a complex, multi-vendor deal for a combined $2.649 million – a corner retail property at 65 Thackeray St & vacant site at 15 Faraday St sold for $1.45 million, a residential property at 59 Thackeray St sold for $599,000, and a residential property at 57 Thackeray St sold for $600,000
Agent: Dan Walker

Attribution: Agency release.

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6 commercial sales in lower North Island

Bayleys agents in the lower North Island have sold 6 commercial properties in Hawke’s Bay, Manawatu and at Paraparaumu Beach.

South of the Bombays

Hawke’s Bay

Dannevirke

69 High St:
Features: 617mcorner site, 693m² 2-level commercial building strengthened to 69% of new building standard; ground floor occupied by Westpac for many years, currently on 5-year lease from January 2017 with additional income for one-year from upstairs office tenancy
Outcome: sold for $706,000 at a 12.6% yield
Agent: Rollo Vavasour

Hastings

Woolwich, 1017 Manchester St:
Features: 5928m2 site adjoining Napier expressway, 1635m² clearspan industrial building built in 2015, 5.5m-7.6m stud height; 2 separate tenancies
Outcome: sold for $1million at an 8.4% yield
Agent: Rollo Vavasour

14 Senamor Place:
Features: 6740m² site overlooking Napier expressway, 663m² office building, leased for 6 years to civil construction company Russell Roads Ltd
Outcome: sold for $1.6 million at an 8.62% yield
Agent: Rollo Vavasour

Manawatu

Palmerston North

92 Kaimanawa St (pictured):
Features: 7442m² site, 9906m² distribution centre with high stud warehousing (10m at apex); Coca-Cola Amital (NZ) Ltd has occupied the building since its completion in 2003 and renewed for further 6 years in December 2017, with 3 3-year rights of renewal
Rent: $581,443/year net + gst
Outcome: sold for $8.3 million at a 7.0% yield
Agents: Mike Houlker, Sunil Bhana & Karl Cameron

Sanson

54-56 Dundas Rd:
Features: 4112m² development site on corner of State Highways 1 & 3, average of 12,000-plus cars passing daily, neighbouring site recently redeveloped for Z Energy Ltd
Outcome: sold for $501,000 at $121.5/m²
Agents: Bede Blatchford, Karl Cameron & Lewis Townshend

Wellington

Paraparaumu Beach

18 Seaview Rd, unit 5:
Features: 180m² unit-titled 1st floor office, new 4-year lease
Outcome: sold for $420,000 at a 7.7% yield
Agent: Stephen Lange

Attribution: Agency release.

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Refurbished Napier CPO one of 5 sales

The former CPO building in Napier (pictured) has been sold, 4 years after being refurbished & strengthened. It’s one of 5 commercial sales by Bayleys agents around Napier & Hastings.

South of the Bombays

Hawke’s Bay 

Hastings

209 Avenue Rd:
Features: 1224m² corner site, 672m² office building, 19 parking spaces
Outcome: sold with vacant possession for $930,000
Agent: Rollo Vavasour

210 Queen St East:
Features: 362m² site, 360m² 2-level office building, 7 parking spaces at rear
Outcome: sold with vacant possession for $468,000
Agent: Jake Smith

Napier

1 Dickens St:

Features: 1554m² cbd site on corner of Hastings St, 3185m² former CPO building refurbished over 3 years and strengthened to 100% of new building standard, completed in 2014; now fully occupied by 12 tenants with Napier City Council occupying the top level, 3 other office tenants below & retail tenants on ground floor, including NZ Post/Kiwibank & Vodafone
Rent: $558,362/year net + gst
Outcome: sold for $8 million at a 6.9% yield
Agent: Sam MacDonald

Onekawa

2 Ford Rd:
Features: 2120m² corner site zoned main industrial, 1478m² modernised office & warehouse building, 100% new building standard seismic assessment, multiple roller door entry points from dual road access
Outcome: sold with vacant possession for $1.75 million
Agents: Daniel Moffit & Sam MacDonald

Pakowhai

11 Allen Rd:
Features: 1.2938ha site zoned rural (B1) beside new roundabout development on Napier/Hastings expressway, 6500m² of garden centre-related buildings
Outcome: sold to local developer for $1.35 million
Agent: Paul Garland

Attribution: Agency release.

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2 sales & 2 leases for Colliers agents

Colliers agents have sold a Rosedale office to an owner-occupier. Down country, the agency has sold a Napier retail property and leased 2 Palmerston North warehouses.

North-east

Rosedale

27-29 William Pickering Drive, unit E4:
Features: 255m² first-floor office,
Outcome: sold to an owner-occupier for $940,000
Agents: Janet Marshall, Kerry Cook & Matt Prentice

South of the Bombays

Hawke’s Bay

Napier

64 Carlyle St:
Features: 1750m² site, 830m² retail, 19 parking spaces
Outcome: sold for $1.67 million + gst
Agent: Dan Walker

Manawatu

Palmerston North

69 Malden St:
Features: 8248m² site, 2 warehouses of 2700m² & 1498m², 52 parking spaces
Rent: leased to 2 tenants for a combined rental of $333,000/year
Agents: Grant Lloyd, Doug Russell & Phil Nevill

Attribution: Agency release.

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Mt Eden office building sells

Colliers agents have sold a small office building on the city side of Mt Eden to a private investor.

The agency has also sold a Napier warehouse.

Isthmus west

Mt Eden

60 Mt Eden Rd (pictured):
Features: 341m² site at corner of Edwin St, 577m² 2-storey office building
Rent: $140,000/year net + gst holding income
Outcome: sold to a private investor for $2.6 million + gst
Agents: Jonathan Lynch & Kris Ongley (Colliers), Cam Paterson & Reese Barragar (B&T Commercial)

South of the Bombays

Hawke’s Bay

Napier

15 Edmundson St:
Features: 2024m² site, 1210m² warehouse
Outcome: sold to a private investor for $1.4 million + gst
Agent: Dan Walker

Attribution: Agency release.

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