Archive | Tauranga

10 commercial sales around Bay of Plenty & Waikato

Bayleys agents have sold 10 properties around the Bay of Plenty & Waikato, including 2 more industrial sites at the Tauriko business estate outside Tauranga, 2 properties in Tauranga and 3 around Hamilton.

Out of the main centres, the most prominent sale was of the Lemon & Paeroa premises in Paeroa (pictured above).

Bay of Plenty

Tauranga

1339 Cameron Rd:
Features: 1005m² site, 360m² single-level commercial building leased to 2 food & beverage businesses, 17 parking spaces
Rent: $53,352/year net + gst, rental increase of $28,000/year for one tenancy in March 2019
Outcome: sold for $1.2 million at a 5.46% yield
Agent: James Ross

Greerton

6 Hynds Rd, unit 1:
Features: 766m2 modern, high stud warehouse, large mezzanine, high quality offices, 6 parking spaces
Outcome: sold with vacant possession for $1 million
Agents: Myles Addington & Graeme Coleman

Tauriko

31 & 39 Paerangi Place, Tauriko, sold at $425/m².

31 & 39 Paerangi Place:
Features: 12,591m2 flat industrial site in Tauriko Business Estate in 2 freehold titles (11,041m2 & 1550m2), 3 street frontages, utility services, roading & titles in place
Outcome: sold for $5,351,175 at $425/m2
Agents: Lloyd Davidson & Jo Stewart

Lot 414:
Features: 837m2 of bare industrial land, one of limited number of smaller sites in Tauriko Business Estate, title expected to be issued second quarter of 2019
Outcome: sold for $375,000 at $448/m2
Agent: Lloyd Davidson

Waikato

Hamilton

CBD:

28 Harwood St:
Features: 2104m2 corner site on edge of cbd, 3328m2 Opus House, 1980s office building with grade A seismic rating, 38 parking spaces; 2 national occupants, Opus International Ltd the anchor tenant
Rent: $599,813/year net + gst
Outcome: sold for confidential price
Agents: Scott Kirk, Mike Swanson & David Cashmore

Beerescourt

430 Ulster St:
Features: cross-lease, 170m² dwelling consented for office use, 4 offices with kitchen, bathroom & onsite parking
Outcome: sold with vacant possession for $471,000 to owner-occupier who will renovate for finance company business
Agent: Jason Kong

Frankton

87e Killarney Rd:
Features: Freshly renovated 120m² industrial unit plus 3 parking spaces
Outcome: sold with vacant possession for $325,000, including GST, to building industry owner occupier
Agent: Anne-Marie Brown

Paeroa

2 Seymour St:
Features: 2546m² corner site at northern entrance to township with 444m² L&P building (with replica 6m L&P bottle); anchor tenancy L&P Café Bar & Brasserie, which underwent a substantial refurbishment in 2015, on 3-year lease from December 2016, with one 3-year right of renewal; buyer will occupy vacant part of the premises (previous asking rental $19,000/year)
Rent: $53,352/year net + gst
Outcome: sold post-auction for $650,000
Agents: Jo Stewart & Brendon Bradley

Putaruru

91 Tirau St:
Features: 332m² business-zoned site on State Highway 1 at the northern entrance to township, 118m² office premises in need of refurbishment
Outcome: sold for $116,500 with vacant possession
Agents: Brendon & Ryan Bradley

Tokoroa

2-4 & 6 Waratah Place:
Features: 2 adjoining titles totalling 4075m² of industrial land, exposure to State Highway 1, 183m² workshop; part of one title leased to BP Oil NZ Ltd for truckstop operation at peppercorn rental of $1/year + gst, balance of both sites vacant
Outcome: sold for $316,000
Agents: Ryan & Brendon Bradley

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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Tauriko building leads Colliers sales


Colliers sold 2 industrial & commercial properties in Nelson and at the Tauriko business estate (pictured) outside Tauranga last week. In Auckland, the agency has sold a warehouse & an industrial property with a high office component in Rosedale.

Yields were around 5.2% & 5.9%, but below 5% at Tauriko.

North-east

Rosedale

44 Arrenway Drive:
Features: 3972m² site, 3715m² warehouse & office
Outcome: sold for $13,117,116 + gst, at a 5.88% yield
Agents: Matt Prentice & Shoneet Chand

13 William Pickering Drive:
Features: 6813m² industrial property, 1933m² floor area – 904m² of offices on ground & first floors, warehouse 984m², dock 45m², 36 parking spaces
Outcome: sold for $11.4 million + gst, at a 5.24% yield
Agents: Shoneet Chand, Matt Prentice & Josh Coburn

South of the Bombays

Bay of Plenty

Tauranga, Tauriko business estate

47 Paerangi Place:
Features: 3988m² site, dual frontage, 2296m² building constructed in 2016, 517m² canopy, 18 parking spaces
Rent: $261,738.75/year net estimated rent from 2 tenants starting 1 November, CPI + 1% annual rent reviews
Outcome: sold at auction last Friday for $5.4 million + gst, at a 4.85% yield
Agents: Simon Clark, Rob Schoeser & Doug Russell

South Island

Nelson

76-82 St Vincent St:
Features: 3826m², 15-year ground lease to service station operator NPD; construction of the self-serve station is underway, with an estimated pump date of late November
Rent: $118,125/year net + gst, 1.75%/year fixed increases
Outcome: sold at auction last Thursday for $2.03 million + gst, at a 5.8% yield
Agents: Sam Staite & Geoff Faulkner

Attribution: Agency release.

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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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Chaudhary notches up fuel station sales

Published 9 September 2018
Bayleys Manukau agent Tony Chaudhary & his team of Amy Weng & Janak Darji have scored several service station sales recently, including the new Z at Silverdale (reported in August, repeated here) and another in Henderson, Gull in Otara (pictured) and the Caltex premises in Welcome Bay, Tauranga.

North-east

Silverdale

5 Hibiscus Coast Highway:
Features: 2466m² site beside park & ride bus station, recently completed 228m² 24-hour Z fuel station comprising retail outlet, canopy & forecourt, 4 pump islands servicing up to 8 lanes; initial 18-year lease to Z Energy Ltd
Rent: $314,000/year net + gst
Outcome: sold for $6,281,067 at a 5% yield
Agents: Bill Lissington & Tony Chaudhary

North-west

Henderson

1 Corban Avenue:
Features: 2028m² corner site, new 228m² service station leased to Z Energy Ltd for 21 years from June 2016, annual CPI rental increases, 10-yearly market reviews
Rent: $327,939 /year net + gst
Outcome: sold for $6 million + gst at a 5.47% yield
Agents: Tony Chaudhary, Amy Weng & Janak Darji

South

Otara

263 East Tamaki Rd:
Features: 3075m² site, over 50m of road frontage, 1395m² of structures, Gull fuel station & associated Night ’n Day convenience store on 10-year lease to Gull NZ Ltd until February 2026, with rights of renewal to 2046 & annual CPI rent increases
Rent: $247,173/year 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

South of the Bombays

Bay of Plenty

Tauranga, Welcome Bay

248 Welcome Bay Rd:
Features: 1200m² site on main arterial road, occupied by Caltex service station since 1995, current 5-year lease from October 2017 plus one 5-year right of renewal
Rent: $83,925/year net + gst
Outcome: sold for $1.35 million + gst at a 6.22% yield
Agents: Tony Chaudhary & Janak Darji

Attribution: Agency releases.

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4 sales south of Auckland in Bayleys’ auction series

4 properties in Hamilton, Rotorua & Tauranga have been sold in Bayleys’ Total Property 5 auction series as it continues down country. 6 of the 8 properties up for sale at the Auckland auction were sold on Wednesday.

South of the Bombays

Bay of Plenty

Rotorua

1151 Arawa St:
Features: 382m² cbd site with development potential, 224m² 1930s earthquake-prone character building, occupied by Hannahs Shoes for decades; new 130-room Pullman Hotel being developed 2 properties away in a conversion of the former Zen building, owned by Chow Group Management Ltd
Outcome: sold vacant for $437,500 + gst
Agent: Brei Gudsell

Rotorua – Ngapuna

236 Te Ngae Rd & 5 Hamiora Place:
Features: 4721m² corner site on State Highway 30, main occupant is longstanding business Telfer Marine Ltd on a 10-year lease from October 2017; also 19 storage units
Rent: $108,000/year net + gst (Telfer Marine); $63,440/year gross + gst (storage units)
Outcome: sold for $2.35 million + gst at a 7% yield
Agents: Mark Slade & Brei Gudsell

Tauranga

116 Third Avenue:
Features: 1012m² site, 24m road frontage, 538m² industrial building most recently used by an automotive business – warehousing 348m², offices & amenities 95m², mezzanine 95m²
Outcome: sold with vacant possession for $2 million + gst
Agents: Lloyd Davidson & Laura Taylor

Waikato

Hamilton

100 Clarence St:
Features: 954m² site zoned commercial fringe, 190m² purpose-built suite of medical offices, 12 parking spaces; near cbd & Waikato Hospital
Outcome: sold with vacant possession for $946,500 + gst
Agents: David Cashmore, Rebecca Bruce & Jason Kong

Attribution: Agency release.

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6 commercial sales

Colliers agents have sold 3 commercial properties around Auckland and another 3 in Tauranga & Paraparaumu.

Isthmus east

St Johns

115 Felton Mathew Avenue, unit 3:
Features: vacant 294m² retail unit – 168m² showroom space, 102m² storage & warehousing
Outcome: sold to a private investor for $1.2 million + gst
Agents: Jeremy Barnett & Charlie Oscroft

North-east

Rosedale

63 Apollo Drive, unit B3:
Features: 571m² office unit
Outcome: sold by a private investor to owner-occupiers Goodwin Turner Commercial Lawyers for $2.7 million + gst
Agents: Janet Marshall & Nick Recordon

South

Airport Oaks

36 Ascot Rd:
Features: 8685m² site, 3680m² medium stud warehouse, offices & amenities,
Outcome: sold with vacant possession to an owner-occupier for $5.8 million
Agents: Brad Johnston, Paul Jarvie, Ash Vincent & Greg Goldfinch

South of the Bombays

Bay of Plenty

Tauranga

Tauriko

52 Whakakake St:
Features: 7752m² site, 4300m² useable space, 2315m² building constructed in 2016, containing high stud workshop, 115m² office; 5-tonne gantry crane, 9 roller doors, fenced concrete yard
Rent: $245,654 + gst on short-term lease
Outcome: sold for $4.225 million + gst at a 5.8% yield
Agents: Rob Schoeser & Simon Clark

Tauranga

100 First Avenue:
Features: 922m² site, 745m² building in 2 tenancies, parking, 3½ years left on lease,
Rent: current rent $140,000/year net + gst + outgoings on lease expiring in 2019
Outcome: sold for $2.4 million + gst at a 5.8% yield
Agents: Duncan Woodhouse & Simon Clark

Wellington

Paraparaumu

10 Manchester St:
Features: 1898m² industrial property, 2 fully tenanted buildings containing 1348m² net lettable area
Outcome: sold to a private syndicate for $2.206 million + gst at a 6.7% yield
Agents: Dean Anderson

Attribution: Agency release.

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Wiri & Tauriko industrial properties and Matamata childcare centre sell

Colliers agents have sold a Wiri warehouse with a large canopy, an industrial property at the Tauriko estate on the outskirts of Tauranga, and a brand-new childcare centre in Matamata.

South

Wiri

12 Ha Crescent:
Features: 4167m² site, 3888m² high stud warehouse, 1043m² canopy, 278m² office space, north-facing concrete yards
Rent: $510,000/year net + gst, market rent review pending after 4 years of 8-year lese
Outcome: sold for $11.15 million at a 4.57% yield
Agents: Andrew Hooper & Hamish West

South of the Bombays

Bay of Plenty

Tauranga

Tauriko

52 Whakakake St:
Features: 7752m² property, 4300m² of usable area, 2315m² industrial facility, high stud workshop
Rent: $245,654 + gst from short-term lease
Outcome: sold for $4.225 million at a 5.8% yield
Agents: Rob Schoeser & Simon Clark

Waikato

Matamata

6 Peria Rd:
Features: 3382m² site, new 567m² purpose-built childcare centre on an 18-year lease from completion this month, plus renewal rights
Rent: $247,000/year net + gst
Outcome: sold for $4.1 million at a 6% yield
Agents: David Palmer & Justin Oliver

Attribution: Agency release.

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8 commercial sales at 4 Bay of Plenty centres

Bayleys agents in the Bay of Plenty have sold 8 commercial properties at Mt Maunganui, Tauranga & Whakatane and across at Rotorua.

Image above: 120 Devonport Rd in Tauranga, sold on a 6.2% yield.

South of the Bombays

Bay of Plenty

Mt Maunganui

64 Tukorako Drive, unit 11:
Features: leasehold, 102m² unit; tenant exercised last of 3 3-year rights of renewal in February 2017
Rent: $8613/year net (after ground rent) + gst
Outcome: sold for $145,000 at a 5.94% yield
Agent: Graeme Coleman

Rotorua

20-22 Taui St:
Features: 1.0034ha industrial site in 6 titles near state highways, 5 tenants occupying a mix of buildings, surplus land available for development
Rent: $117,041/year net + gst
Outcome: sold for $1.2 million
Agents: Mark Slade & Brei Gudsell

64 View Rd:
Features: 359m² site, 310m² single-level warehouse/workshop constructed in mid-1970s
Outcome: sold with vacant possession for $330,000
Agent: Mark Slade

2 Waters St:
Features: 708m² corner site, 303m² industrial building, 2 tenancies – sushi bar returning $11,406/year gross & vacant workshop
Outcome: sold for $340,000
Agents: Mark Slade & Brei Gudsell

Tauranga

120 Devonport Rd:
Features: 445m² cbd corner site at the intersection with Elizabeth St, 690m² 2-level retail & office building, seismic assessment 45% of new building standard; fully leased to 6 tenants, redevelopment options to a maximum building height of 19m
Rent: $135,895/year net + gst
Outcome: sold for $2.205 million at a 6.16% yield
Agents: Brendon & Lynn Bradley

160-168 Devonport Rd:
Features: 2192m² site in 2 titles, city centre zoning provides mixed-use development options; 1050m² commercial building, anchor tenant is an Asian supermarket occupying 571m², gym & charitable trust occupy the balance of the building
Rent: $138,500/year net + gst
Outcome: sold for $2.95 million at a 4.69% yield
Agents: Lloyd Davidson & Jo Stewart

Tauranga – Tauriko

24 Whiore Avenue:
Features: 768m² site on the hill above The Crossing retail centre, quarter share of accessway, 3-year-old 367m² industrial building; 2 tenants on 3-year leases with 2 rights of renewal
Rent: $52,885/year net + gst
Outcome: sold for $1.05 million at a 5.03% yield
Agent: Graeme Coleman

Whakatane

6, 12 & 14 Wairere St:
Features: 3154m² freehold cbd site, 3 buildings on 3 titles adjacent to Wairere Falls Reserve, business centre zoning allows multiple commercial & residential redevelopment options up to 15m
Outcome: sold with vacant possession for $942,000
Agents: Rhys Mischefski & Lloyd Davidson

Attribution: Agency release.

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Bridgestone premises in Tauranga sell

Colliers has sold a Tauranga commercial building on a 3.45% yield.

South of the Bombays

Bay of Plenty

Tauranga

111 Second Avenue:
Features: 915m² site, 600m² building tenanted by Bridgestone/Firestone Tyres until 2025
Rent: $81,500/year net + gst
Outcome: sold at auction for $2.36 million at a 3.45% yield
Agents: Duncan Woodhouse & Simon Clark

Attribution: Agency release.

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