Archive | Colliers International

Newmarket office building sells, Australian furniture retailer moves into Mt Wellington

Colliers agents have sold a Newmarket office building and leased a large Mt Wellington unit to Australian furniture retailer Nick Scali Ltd.

Isthmus east

Sale

Newmarket

1 Broadway:
Features: 1455m² site, 2269m² office building
Outcome: sold to private investor, price not disclosed
Agents: Adam White, David Burley & Hamish West

Lease

Mt Wellington

50-56 Mt Wellington Highway:
Features: 2695m² large-format retail unit on the front of the Harvey Norman Centre, leased to Australian furniture retailer Nick Scali Ltd
Rent: no figures
Agent: Leroy Wolland

Attribution: Agency release.

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$40 million of commercial & industrial sales

Colliers agents have notched up over $40 million of commercial & industrial sales from Paihia to Paraparaumu in 5 transactions.

The biggest was the sale-&-leaseback deal by Steel & Tube Holdings Ltd of its East Tamaki distribution centre in November, scheduled for completion next week.

One of the 5, a Paihia retail property with 14 tenants, was sold for an undisclosed sum.

North

Paihia

68 Marsden Rd & 9 Williams Rd:
Features: 1139m², 4 buildings on 2 titles separated by Paihia Lane, 14 retail tenancies, average weighted lease term 7.35 years
Rent: $701,000/year net + gst
Outcome: sold, price not disclosed
Agents: Colliers capital markets & site sales team

North-west

Henderson

136-140 Lincoln Rd:
Features: 2709m² development site, the former Lincoln vineyard homestead, mixed-use zoning allows for a range of commercial & intensive residential development
Outcome: sold to an owner-occupier for $4,063,500
Agents: Euan Stratton, Josh Coburn & Craig Smith

South

East Tamaki

103A&B Harris Rd:
Features: total 931m², warehouse & office, high stud clearspan warehousing at rear of both units
Rent: $133,856/year net + gst     
Outcome: sold for $2.34 million + gst at a 5.7% yield
Agents: Jolyon Thomson & Jeremy Barnett

68-80 Stonedon Drive:
Features: 3.64ha site, 18,126m² Steel & Tube Holdings Ltd distribution centre,
Rent: $2,036,087/year net + gst  
Outcome: sold for $32,577,392 at a 6.25% yield in 10-year sale & leaseback (6 years certain), transaction scheduled for completion 20 December
Agents: Greg Goldfinch & Andrew Hooper
Earlier story, 20 November 2017:
East Tamaki property sold as Steel & Tube rings in changes

South of the Bombays

Wellington region

Paraparaumu Beach

345-347 Kapiti Rd:
Features: 1844m² site, 880m² office & retail
Outcome: sold for $2.013 million at a 7.47% yield
Agent: Dean Anderson

Attribution: Agency release.

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Queen St retail unit sells at 4.6%

A Queen St retail unit sold on a 4.6% yield at Colliers’ auction yesterday.

CBD

Queen St

155 Queen St, unit B:
Features: 109m², seismic rating 80% of new building standard
Rent: $242,000/year net + gst + opex at $2220/m², 6-year lease to Specsavers NZ Ltd from March 2016 plus one 6-year right of renewal, 3%/year fixed growth
Outcome: sold for $5.31 million + gst at a 4.56% yield
Agents: Kris Ongley, Adam White & David Burley

Attribution: Auction.

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Buyers go quiet on ChoiceKids centres

One ChoiceKids childcare centre in Manurewa was passed in on a vendor bid at Colliers’ auction yesterday, and 2 other centres in the area were passed in, no bid.

All 3 have new 15-year leases to the ChoiceKids childcare chain, starting 1 March 2018, with 2 10-year rights of renewal. Originally 5 centres were to have been auctioned on behalf of Choice Properties Ltd (Paul Davys & Peter Brown), including another on Mahia Rd and the fifth at Weymouth.

Josh Coburn, Kris Ongley & Shoneet Chand were the agents for all 3 properties.

South

Manurewa

4 Browns Rd:
Features: 1132m² site, 316m² floor area, purpose-built in 2015
Rent: $117,000/year net passing income + gst  
Outcome: no bid

49 Browns Rd:
Features: 827m² site, 150m² floor area in a converted bungalow
Rent: $70,000/year net passing income + gst
Outcome: passed in after bid at $950,000 & vendor bid at $1 million

Wattle Downs

149 Mahia Rd:
Features: 818m² site, 181m² floor area, purpose-built in 2012
Rent: $93,600/year net passing income + gst
Outcome: no bid

Attribution: Auction.

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Shore & Hobsonville leases signed

Colliers commercial agents on the North Shore have signed 3 leases in Takapuna, the Wairau Valley & Hobsonville.

Leases

North-east

Takapuna

72 Taharoto Rd, unit 212:
Features: Large floor plates, abundance of carparks
Rent: leased in October for $188,020/year net + gst
Outcome: Leased October
Agents: Janet Marshall and Jonty Lamb

Wairau Valley

21 Poland Rd, unit K:
Features: 163.8m² warehouse, 86.5m² office/showroom, 5.5m stud height
Rent: leased in October for $38,000/year net + gst
Agent: Sam Sherning

North-west

Hobsonville

6 Workspace Drive, unit 4:
Features: 46m², warehouse 159sqm with 4 carparks, new industrial building
Rent: leased in October for $41,500/year net + gst
Outcome: Leased October
Agents: Ryan de Zwart and Janet Marshall

Attribution: Agency release.

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One East Tamaki warehouse unit sells

One East Tamaki warehouse & showroom unit was sold under the hammer at Colliers’ auction today, but 2 adjoining units nearby were passed in.

South

East Tamaki

62G Greenmount Drive:
Features: 286m² net lettable area – office 91m², warehouse 132m², showroom 63m² occupied by Blueprint Diesel Co Ltd, which has lease until January 2023
Rent: $38,507.48/year net + opex + gst
Outcome: sold for $760,000 at a 5.01% yield
Agents: Jeremy Barnett & Jolyon Thomson

103 Harris Rd, units A & B:
Features: 931.26m² net lettable area in heavy industry zone, 2 roadfront tilt-slab units, 4 tenants, 2 rear roller doors, 80% seismic rating
Rent: $133,855.58/year net + gst
Outcome: passed in at $2.2 million, representing a yield of 6.08%
Agents: Jeremy Barnett & Jolyon Thomson

Attribution: Auction.

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Rosedale unit leased & sold, Remuera shop leased, provincial sales

A Rosedale business unit has been leased & sold, a Remuera shop has been leased, and warehouses in Christchurch & Napier sold by Colliers agents.

Sales

North-east

Rosedale

39-43 Apollo Drive, unit 8:
Features: 136m² unit, 4 parking spaces
Outcome: sold in October for $670,000 at a 6.1% yield after being leased for $41,000/year net
Agents: Janet Marshall & Nick Recordon

South Island

Christchurch

163 Wordsworth St, unit 2:
Features: 238m² refurbished warehouse
Outcome: sold at auction for $400,000
Agents: Christian Kellar & Oliver Salt

South of the Bombays

Hawke’s Bay

Napier

78 Taradale Rd & 32 Severn St:
Features: 6886m² warehouse/showroom & partly leased 3982m² industrial site
Outcome: sold as trade deals, Taradale Rd for $3 million, Severn St for $686,000
Agent: Danny Blair

Leases

Isthmus east

Remuera

360 Remuera Rd:
Features: 274.1m² shop, leased to Bed Bath N Table
Agent: Nilesh Patel

South of the Bombays

Wellington

Petone

8 Te Puni St:
Features: 1604m² office, leased by Cook Strait Properties Ltd to Mavero Ltd (Flip Out franchise) for a 6-year term
Rent: $250,000/year + gst
Agent: Ben Taylor

Attribution: Agency release.

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Remuera shop leased, provincial sales

A Remuera shop has been leased, and warehouses in Christchurch & Napier sold by Colliers agents.

Sales

South Island

Christchurch

163 Wordsworth St, unit 2:
Features: 238m² refurbished warehouse
Outcome: sold at auction for $400,000
Agents: Christian Kellar & Oliver Salt

South of the Bombays

Hawke’s Bay

Napier

78 Taradale Rd & 32 Severn St:
Features: 6886m² warehouse/showroom & partly leased 3982m² industrial site
Outcome: sold as trade deals, Taradale Rd for $3 million, Severn St for $686,000
Agent: Danny Blair

Leases

Isthmus east

Remuera

360 Remuera Rd:
Features: 274.1m² shop, leased to Bed Bath N Table
Agent: Nilesh Patel

South of the Bombays

Wellington

Petone

8 Te Puni St:
Features: 1604m² office, leased by Cook Strait Properties Ltd to Mavero Ltd (Flip Out franchise) for a 6-year term
Rent: $250,000/year + gst
Agent: Ben Taylor

Attribution: Agency release.

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Bidders stay clear of office unit auction

The one property up for auction at Colliers yesterday, an office unit on Pitt St at the top of the cbd, failed to attract a bid.

CBD

Uptown

29 Pitt St, unit 2:
Features: 170m² office unit, secure covered parking space
Outcome: no bid
Agents: Simon Felton & Tony Allsop

Attribution: Auction documents.

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5 sales by Colliers

Colliers agents have sold a Victoria Park Market restaurant and a Rosedale office in Auckland. In the South Island, the agency has offices in Christchurch & Dunedin and a quake-damaged motel in Christchurch.

CBD

Victoria Quarter

Victoria Park Market, Drake St, unit 74:
Features: 268m² net lettable area, New York-style restaurant & bar, the Oak Room, on 6.5-year lease
Rent: $100,794/year + gst     
Outcome: sold for $1.3 million at a 7.8% yield
Agents: Adam White, Simon Felton, Gareth Fraser & Tony Allsop

North-east

Rosedale

9C William Pickering Drive:
Features: 377m² 2-level office     
Outcome: sold by private investor to owner-occupier Zen Connections Ltd for $1.395 million
Agents: Janet Marshall & Kerry Cook

South Island

Christchurch

Merivale

49 Papanui Rd:
Features: quake-damaged former Adelphi motel, 1517m² site, 12 motel units & a manager’s unit
Outcome: sold at auction for $1.7 million on an “as is, where is” basis
Agents: Will Franks & Mark Macauley

Rolleston

7 Tennyson St:
Features: 2781m² site, 261m² retail, new 10-year lease to Restaurant Brands Ltd
Rent: $170,000/year net + gst     
Outcome: sold at auction for $3.215 million + gst at a 5.3% yield
Agents: Courtney Doig & Charlie Oscroft

Dunedin

ASB House, 248 Cumberland St, levels 1 & 2:
Outcome: sold for $2.825 million at a 7.6% yield
Agent: Dean Collins

Attribution: Agency release.

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