Archive | Waikato

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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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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Silverfin executes 2 leaseback deals for syndication

Property syndicator has completed 2 sale & leaseback deals with Halls Refrigerated Transport Ltd, through Bayleys, for its next syndicate. The rent on each unit is identical.

South

Takanini

1 & unit 1/15 Spartan Rd:
Features: 2.1154ha of industrial land, over 1ha of yard, about 3700m² of warehouse, coolstore  & office; adjacent to the Takanini motorway interchange & main trunk railway line, new 12-year lease to Halls Refrigerated Transport Ltd plus 2 6-year rights of renewal
Rent: $1.05 million/year net + gst
Outcome: sold for $16.85 million at a 6.23% yield
Agents: Chris & Ben Bayley, Sunil Bhana & James Hill

South of the Bombays

Waikato

Waharoa

Factory Rd, lot 1:
Features: 1.1175ha site 6km north of Matamata with its own railway siding, 7872m² purpose-built cool- & coldstore facility constructed in 2008 with a large addition in 2016, new 15-year lease to Icepak NZ, part of the Hall’s Transport Group
Rent: $1.05 million/year net + gst
Outcome: sold for $13,548,387 at a 7.75% yield
Agents: Chris & Ben Bayley, Sunil Bhana & James Hill

Attribution: Agency release.

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Port company names first tenant for Waikato hub

Ports of Auckland Ltd named the first tenant yesterday for its new 33ha freight transport hub at Horotiu, just north of Hamilton.

Open Country Dairy Ltd, 77% owned by Talley’s Group Ltd and New Zealand’s second largest exporter of whole milk powder, will take occupancy of the facility next year.

Ports of Auckland chief executive Tony Gibson said the earthworks were complete and building had started.

The Waikato hub – or inland port – is Ports of Auckland’s fourth, following developments at Wiri in South Auckland, Mt Maunganui & Longburn, Manawatu.

The Tainui iwi’s Tainui Group Holdings Ltd is establishing a much larger inland port in Hamilton, intended to cover 480ha of a total 820ha of rezoned space at Ruakura.

Mr Gibson said the Horotiu hub was part of Ports of Auckland’s strategy to support regional growth with freight hubs next to rail in regions that generate significant volumes of exports.

“The freight hub network will contribute to lower freight costs, reduces carbon emissions and offer a wider range of shipping services to North Island exporters & importers. The hub provides future customers with a unique opportunity. Businesses will be able to have their own sites with customised warehouse design & layout.”

Until the rail connection for Horotiu is built, freight will travel by road to Hamilton and then by rail to Ports of Auckland’s Waitemata Harbour sea port.

Attribution: Company release.

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10 more sales around North Island out of auction series

Published & updated 24 September 2018
Bayleys has added 10 sales in New Plymouth (pictured), the Waikato & Wellington to its Total Property 6 auction success rate.

Update: The Tirau sale price has been entered.

South of the Bombays

Taranaki

New Plymouth

241 Devon St West:
Features: 2092mcorner site, 609mbuilding, category B seismic assessment, has been a liquor outlet for over 20 years; occupied by Liquor King on 5-year lease from June 2016, 3-yearly market rent reviews, 5 3-year rights of renewal
Rent: $64,500/year net + gst
Outcome: sold for $1.175 million + gst at a 5.49% yield
Agents: Alan Johnston & Iain Taylor

Waikato

Hamilton – Frankton

54 Greenwood St:
Features: 485m2 site on State Highway 1 with development potential, 22m2 industrial premises, one-year lease to Corys Electrical Ltd
Rent: $32,400/year net + gst
Outcome: sold for $472,500 at a 6.86% yield
Agents: Alex ten Hove & Mike Swanson

Ngahinapouri

446 O’Regan Rd:
Features: 4.4967ha site, established blueberry business & 3ha orchard plus processing packhouse, icecream & berry retail outlet, additional support buildings & 4-bedroom 204m2 house
Outcome: sold as freehold going concern for $1.95 million
Agents: Josh Smith & Scott Macdonald

Tirau

42-46 Main Rd:
Features: Unit-titled 140m2 converted dwelling on State Highway 1 opposite Sheep & Dog i-site, home to café business for nearly 20 years, lease recently renewed for 2 years
Rent: $24,192/year net + gst
Outcome: sold for $418,000 at a 5.79% yield
Agents: Rebecca Bruce & Jason Kong

Wellington

Naenae

12 Gregory St:
Features: 2088mindustrial site, recently refurbished 791m2 warehouse plus 126m2 office & 126mmezzanine, seismic assessment 70% of new building standard, 1171mrear yard used for storage; leased to Ke Kelit (NZ) Ltd for 5 years from August 2017, 3%/year rental increases & 2 4-year rights of renewal
Rent: $123,000/year net + gst
Outcome: sold for $1.691 million + gst at a 7.27% yield
Agents: Fraser Press & Christian Taylor

Petone

11 Gear St:
Features: 400msite, 336mworkshop/warehouse, 58m2 mezzanine built in 2004, longstanding automotive tenant has new 5-year lease plus 2 3-year rights of renewal
Rent: $75,000/year gross + gst
Outcome: sold for $1.15 million + gst at a 5.51% net yield
Agent: Richard Faisandier

209 Jackson St:
Features: 209msite, 177m2-level building, classified as earthquake-prone, ground floor retail, 3-bedroom flat above
Outcome: sold vacant for $420,000 + gst
Agents: Paul Cudby & Andrew Smith

Wainuiomata

15 Queen St:
Features: 292msite, 237.5m2 corner retail building, seismic assessment 67% of new building standard, formerly occupied by ANZ, now vacant except for long-term ATM lease for $3,500/year
Outcome: sold for $401,000 + gst
Agents: Paul Cudby & Ethan Hourigan

8 Wainuiomata Rd:
Features: 1512m2 site, 170mstandalone building, 21 parking spaces & redevelopment potential; national tenant Credit Union Baywide (NZCU) has exercised final 3-year right of renewal
Rent: $32,000/year net + gst
Outcome: sold for $690,000 + gst at a 4.64% yield
Agents: Ethan Hourigan & Johnny Curtis

Wingate

80-82 Eastern Hutt Rd, units 18 & 20:
Features: 286mdouble-unit office building, 9 parking spaces, in 20-unit business park
Rent: estimated potential gross income $30,000/year + gst
Outcome: sold on behalf of liquidator with vacant possession for $176,500 + gst
Agents: Ethan Hourigan, Bhakti Mistry & Fraser Press

Attribution: Agency release.

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First Total Property 6 sales at Rosedale, Taupiri & Te Rapa

Published 7 September 2018
Bayleys has registered the first sales from its Total Property 6 auction campaign – a Rosedale Plaza unit, a former Taupiri candy factory and 2 adjoining sites at Te Rapa.

The 2 Te Rapa sites (pictured above) were sold by different owners to the same buyer at $1151-2/m², and the Rosedale property on a 5.3% yield at an auction brought forward.

The Taupiri factory was sold under the hammer last week.

North-east

Rosedale

Rosedale Plaza, 215 Rosedale Rd, unit 8:
Features: 208m² of retail, mezzanine office & warehouse/storage space, rear roller door access, 4 exclusive parking spaces; 5-year lease from September 2016, plus 2 3-year rights of renewal, to specialist fishing equipment & apparel retailer West Shell
Rent: $45,000/year net + gst
Outcome: sold for $850,000 at a 5.29% yield
Agents: Adam Curtis, Damian Stephen & Adam Watton

South of the Bombays

Waikato

Hamilton

1000 Te Rapa Rd:
Features: 1507m² development site, 430m² of buildings near The Base shopping centre in Hamilton’s fastest growing retail & industrial area, home to fruit & vege business for 30 years
Outcome: sold with vacant possession for $1.735 million
Agents: Mike Swanson & Alex ten Hove

1006 Te Rapa Rd
Features: 1021m² site, 190m² building accommodating an automotive repair business for 35 years; adjoining 1000 Te Rapa Rd and bought by the same buyer
Outcome: sold with vacant possession for $1,176,618
Agents: Mike Swanson & Alex ten Hove

Taupiri

The ex-Candyland factory at Taupiri.

75 Henry Rd:
Features: 1.8ha site, 3720m² industrial complex including about 1200m² of pallet racked coolstores & a large rapid cooler; originally a cheese & dairy factory, expanded in the 1980s and repurposed into the Candyland candy-making factory & tourist attraction
Outcome: sold with vacant possession for $1.05 million
Agents: Mike Swanson & Alex ten Hove

Attribution: Agency release.

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Large sites at Henderson & Te Rapa sell

Published 4 September 2018

A large storage building & large parking lot in Henderson (outlined in picture), with concept designs for development of 116 apartments, has been sold by Colliers agents on a yield of just under 6%. At Te Rapa, just north of Hamilton, another large site partly occupied by Vehicle Inspection NZ has been sold at a 5.5% yield.

North-west

Henderson

14-36 Sel Peacock Drive:
Features: 9640m² site in 3 titles, 9700m² net lettable area, Storage King anchor tenant, others include Mad Butcher & Ministry of Social Development; 3024m² of the site vacant & zoned terrace housing & apartment buildings
Rent: about $1.245 million/year net + gst from 6 tenants, weighted average lease time 6.05 years
Outcome: sold for $21 million at a 5.93% yield
Agents: Richard Kirke & Josh Coburn

South of the Bombays

Waikato

Te Rapa

59 Tasman Rd, lot 1:
Features: 3980m² site, 1350m² building, newly developed industrial property leased to VINZ (Vehicle Inspection NZ Ltd)
Outcome: sold for $2.758 million at a 5.5% yield
Agents: David Palmer, Peter Scammell & Justin Oliver

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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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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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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