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Updated: 5 (now 6) of 14 sell at Bayleys’ Auckland commercial auction, 3 of 3 in Tauranga

Published 25 October 2018, updated 29 October 2018:
5 of the 14 properties were sold at Bayleys’ Total Property commercial auction on Wednesday and 5 attracted no bid.

At the agency’s Tauranga auction, all 3 properties were sold under the hammer.

Update: One property has been sold post-auction – a takeaway outlet in the Wairau Junction retail centre. The outcomes for 2 of the Auckland properties were transposed – for Ellerslie & Blockhouse Bay – and have been corrected below.

CBD

Chancery

Chancery Square, 44 Courthouse Lane, unit A206:
Features: 45m² unit leased to property management company
Rent: $33,500/year net + gst + outgoings
Outcome: sold for $380,000 at an 8.82% yield
Agents: Mike Adams & Jean-Paul Smit

Queen St

Mid-City, 239 Queen St, unit 1Y:
Features: m²,
Rent: $27,360/year net + gst, occupied by hair salon, lease term runs to April 2021 with further rights of renewal
Outcome: withdrawn from auction
Agent: Oscar Kuang

Hauraki Gulf islands

Waiheke Island

Onetangi

The Sands, 141 The Strand, unit 1:
Features: 104m² manager’s unit in the Sands apartment complex
Rent: $28,723/year net + gst + outgoings
Outcome: no bid
Agents: Brian Caldwell & Mana Tahapehi

Isthmus east

Ellerslie

Updated: 101 Main Highway, unit 12:
Features: 272m² Asian supermarket at Ellerslie shopping centre, 10 parking spaces
Rent: $60,000/year net + gst, 5-year lease in place with 2 5-year rights of renewal
Outcome: passed in at $800,000 (2 results transposed – originally posted as $2.7 million)
Agents: Oscar Kuang, Beterly Pan & Nicolas Ching01 Main Highway

Onehunga

222 Onehunga Mall:
Features: 273m² site, 2-storey building, seismic rating 75% new building standard, local town centre zoning has 27m height control
Rent: commercial & residential tenants
Outcome: withdrawn from auction
Agent: Oscar Kuang

Parnell

29B Bath St:
Features: 175m² site, 139m² commercial unit, parking space
Rent: $42,000/year net + gst current contract, 2 2-year rights of renewal
Outcome: no bid
Agent: Millie Liang

Isthmus west

Blockhouse Bay

Updated: 35 Margate Rd, flats 1-6:
Features: 2497m² site, 6 2-bedroom residential units, each of about 55m² & on separate titles, parking space each, offered in one package
Rent: $200,000/year net + gst from 2-year lease
Outcome: passed in at $2.7 million (2 results transposed – originally posted as $800,000)
Agents: Quinn Ngo, Matt Lee & James Chan

Eden Terrace

1 Exmouth St:
Features: 665m² vacant section on Newton Rd corner, leased to Wilson Parking, mixed use zoning
Rent: $21,495/year net + gst, early termination clause
Outcome: withdrawn from auction
Agents: Owen Ding, James Chan & Jarrod Qin

Pt Chevalier

1110 Great North Rd, unit D:
Features: 345m², town centre fruit & vegetable shop + parking, leased to PTC Fresh NZ for 5 years from December 2016 with 2 5-year rights of renewal
Rent: $108,312/year net + gst
Outcome: sold for $1.55 million at a 6.99% yield
Agents: Nicolas Ching, Quinn Ngo & James Chan

350 Pt Chevalier Rd:
Features: 696m² site zoned business – neighbourhood centre, housed greengrocery for over 50 years
Outcome: sold with vacant possession for $1.87 million at a land value of $2686/m²
Agents: John Procter, Alan Elliott & Cameron Melhuish

North-east

Orewa

Tamariki Plaza, 1-19 Cammish Lane, unit J:
Features: vacant 190m² commercial unit, one parking space + share of 35 parking spaces
Outcome: passed in at $700,000
Agents: Mustan Bagasra

Rosedale

101 Apollo Drive, unit D:
Features: vacant 120m² ground-floor office unit, 4 parking spaces
Outcome: auction postponed
Agents: Tonia Robertson & Jane McKee

Rosedale Retail Centre, 94 Rosedale Rd, unit 2:
Features: 73m² shop at entrance to zero-vacancy retail centre
Rent: $37,520/year net + gst + outgoings
Outcome: sold prior
Agents: Eddie Zhong, Steven Liu & Meng He

Wairau Valley

18 Ashfield Rd, unit D:
Features: industrial unit, 110m² ground floor, 30m² storage above, monthly tenancy
Outcome: sold for $440,000
Agents: Trevor Duffin & James Yu

65-71 Porana Rd, unit E:
Features: 133m² unit occupied by Hollywood bakery
Rent: $55,000/year net + gst + opex, new 6-year lease
Outcome: auction postponed
Agents: Adam Curtis, Damian Stephen & Steven Liu

Updated: Wairau Junction, 162-178 Wairau Rd, unit 7:
Features: 45m² kebab outlet
Rent: $30,600/year net + gst + outgoings
Outcome: passed in at $500,000, sold post-auction for $550,000 at a 5.56% yield
Agents: Andrew Lin & Ranjan Unka

North-west

Henderson

192 Universal Drive, unit A1:
Features: 756m², corner store in Lincoln North Shopping Centre, 7-year lease to Super Cheap Auto NZ from July 2016, annual fixed 3% rental increases & one 5-year right of renewal
Rent: $225,221/year net + gst, 3% annual increases
Outcome: sold for $3.93 million at a 5.73% yield
Agents: Matt Lee, James Chan, Quinn Ngo, Terry Kim & David Han

South

Clendon Park

439 Roscommon Rd, unit 2:
Features: 97m² retail unit, tenant Clendon Foodmarket
Rent: $41,600/year net + gst, 6-year lease from 2015
Outcome: no bid
Agents: Matt Lee, Quinn Ngo & Piyush Kumar

439 Roscommon Rd, unit 3:
Features: 97m² retail unit, tenant Crown Liquor
Rent: $43,201/year net + gst, 4-year lease from 2016, rights of renewal
Outcome: no bid
Agents: Matt Lee, Quinn Ngo & Piyush Kumar

South of the Bombays

Bay of Plenty

Bethlehem

272A State Highway 2:
Features: 809m² site, 305m² 2-level commercial building, anchor ground-floor pharmacy tenancy, smaller dental tenancy above on leases renewed until 2021 plus further renewals
Rent: $62,730/year net + gst
Outcome: sold for $1.26 million at a 4.98% yield
Agent: Myles Addington

Judea

66 Koromiko St:
Features: 2536m² industrial site, 1519m² standalone building comprising 1123m² of warehouse & workshop space, 4 large roller doors; the balance 2 levels of offices, showroom, storage & amenities; tenant Paramount Stainless has recently renewed for the next 3 years with one final right of renewal to 2024
Rent: $122,000/year net + gst
Outcome: sold for $1.8 million at a 6.78% yield
Agent: Graeme Coleman

Tauranga:

199, 207 & 213 Cameron Rd:
Features: 2192m² redevelopment site zoned city centre, allowing 19m² building height, next to central fire station on main arterial, car dealers have operated from site since the early 1970s, 2 tenancies expiring in August 2020
Rent: $190,715/year net + gst
Outcome: sold for $6.25 million + gst at a 3.05% yield, land value $2851/m²
Agents: Lloyd Davidson & Laura Taylor

Coromandel

Thames

517 Pollen St:
Features: 1521m² site, 1410m² building occupied by multiple tenants including NZ Post Ltd on long-term lease, 16 parking spaces
Rent: $107,717.53/year net + gst, multiple tenants
Outcome: no bid
Agents: Millie Liang & Josh Smith

Attribution: Agency release.

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Low yields on city fringe properties

Bayleys agents have sold 2 properties in Freemans Bay & Herne Bay at yields below 3%, reflecting development potential, and another in Mt Eden below 5%, plus a refurbished & vacant Henderson accommodation facility.

Isthmus west

Freemans Bay

37 & 39 Spring St:
Features: 490m2 site in 2 titles, 2 neighbouring character villas fully leased to commercial tenants, both on final 3-year rights of renewal; mixed use zoning allows for development up to 4 storeys
Rent: $81,291/year net + gst
Outcome: sold for $3.6 million + gst at a 2.26% yield
Agents: Alan Haydock, Damien Bullick & Scott Kirk

Herne Bay

88 Jervois Rd:
Features: 652m2 site zoned mixed use, 315m2 refurbished 2-level villa, high stud character office space; fully leased to multiple tenants
Rent: $122,636/year net + gst
Outcome: sold for $4.2 million + gst at a 2.92% yield
Agents: Alan Haydock & Damien Bullick

Mt Eden

31 Rossmay Terrace:
Features: 1799m2 site zoned mixed use, 855m2 health & fitness centre, fully leased to tenant in occupation since 1999 with 10 years to run on current lease term plus 30-year right of renewal
Rent: $140,000/year net + gst
Outcome: sold for $2.9 million + gst at a 4.83% yield
Agents: Alan Haydock & Damien Bullick

North-west

Henderson

2 Tara Rd:  
Features: 802m2  site in quiet residential no-exit street, fully refurbished & upgraded 267m2 14-room accommodation facility (6 rooms with private ensuite, 8 single rooms), communal dining, living & laundry facilities; ready for occupation
Rent: $125,000/year net + gst estimated income after expenses & management
Outcome: sold vacant for $1,718,500 + gst
Agents: Damien Bullick & Alan Haydock

Attribution: Agency release.

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Assessment of north-west community facilities shortfall nears decision time

An Auckland Council report on community facilities in the north-west – and recommended action – will go to the 4 relevant local boards this week.

The area investigated covers 150km2, represents just 3% of the region and had an estimated population of just 34,230 last year.

But that population is expected to balloon by 350% through to 2046. In the east at the moment, the new Millwater subdivision out from Silverdale is hemmed in by the Northern Motorway. From there to Kumeu at night, all is pitch black, but that won’t last much longer.

The council investigation area included parts of the Rodney, Upper Harbour & Henderson-Massey local board areas.

Report authors principal policy analyst Antonia Butler & southern community policy team leader Elizabeth Fitton-Higgins said the north-west’s population was growing faster than the Auckland average, which would put pressure on existing community services & facilities and create demand for new services.

Council staff investigated the provision of community facilities across the north-west over the last financial year to identify gaps now & likely in future.

Their key findings:

  • The baseline population is aging but new developments are bringing in younger people, families & increasing ethnic diversity, which will impact service needs
  • Economic & geographic disparity restricts access and creates barriers to participation for some residents, particularly those in rural areas and in lower socio-economic areas such as parts of Westgate & Massey
  • A pool & additional sport & recreation space are priorities for many residents, and
  • There is some capacity within existing facilities and opportunities to better target services to increase participation in low user groups.

The recommended key moves to address the findings are:

  • Address condition issues at Kumeu Library to maintain service levels
  • New aquatic provision from 2026, ideally near Westgate
  • Additional recreation/leisure space in Rodney by 2026 and further recreation space in the longer term (2036) in the Henderson-Massey or Upper Harbour area to support 4 additional indoor courts
  • Potential additional multi-purpose community space in Whenuapai from 2026 and Kumeu from 2036, subject to the impact of new provision in Westgate, the rate of growth across the area and the needs of emerging communities.

The local boards will be asked to endorse the report’s findings & consequent next steps – to assess options, start strategic cases for change and develop an indicative business case.

Links:
Rodney local board agenda item
North-west community facilities provision investigation summary report
Bob Dey Property Report diary, week 17-23 September 2018

Attribution: Council committee agenda.

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3 industrial sales & 5 leases in mix of premises

Published 9 September 2018
Bayleys North Shore agents have sold 3 properties at the start of September – 2 industrial lots in the Highgate business park at Silverdale, a Wairau Valley warehouse & office, and an Otara property occupied by a Gull service station.

They’ve also secured 5 new leases in Henderson, Milford, Rosedale & Silverdale.

Click the link below to check out the separate item on service station sales, including the Otara sale.

Sales

North-east

Silverdale

Highgate business park, Emirali Rd, lots 5 & 6:
Features: 4593m² industrial lots – lot 5 2312m², lot 6 2281m²
Outcome: sold in September for $2.5 million + gst at $544/m²
Agent: Rosemary Wakeman

Wairau Valley

77 Porana Rd, unit 18:
Features: 209m² industrial unit – warehouse 139m², office 70m², 3 parking spaces
Outcome: sold in September with vacant possession for $615,000 + gst
Agents: Trevor Duffin & Matt Mimmack

South

Otara

263 East Tamaki Rd:
Features: 3075m² mixed-use property occupied by Gull service station, 1395m² structures
Rent: $247,173/near 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

Leases

North-east

Milford

166 Kitchener Rd, suite H:
Features: 18m² office
Rent: leased in September for $4673/year net + gst, premises rental $260/m²
Agents: Ian Waddams & Ildy Meixner

Rosedale

33 Apollo Drive, unit 8:

Features: 234m² office unit, 7 parking spaces
Rent: leased in August for $64,000/year net + gst, parking $20/space/week, rental excluding parking $56,720/year net + gst, premises rental $242/m²
Agent: Alex Strever

34 William Pickering Drive, unit B:
Features: 597m² industrial unit – warehouse 446.1m², office 81.3m², retail 51.9m², other area 14.5m², 11 parking spaces
Rent: leased in September for $90,000/year net + gst
Agents: Laurie Burt & Matt Mimmack

Silverdale

30 Foundry Rd, unit 1:
Features: 670m² industrial unit – warehouse 477m², showroom 76m², office 106m², amenities 11m², canopy 31m², 11 parking spaces, in the 9000m² first stage of a new development on a 17,920m² site by Collabor8 Property Ltd (Euan Armstrong, Wayne Boocock & Gavin Brannigan)
Rent: leased in September for $127,070/year net + gst
Agents: Rosemary Wakeman

North-west

Henderson

Part 122-134 Lincoln Rd:
Features: 956m² industrial yard
Rent: leased in September for $28,000/year net + gst
Agents: Steven Liu & Meng He

Related story today: Chaudhary notches up fuel station sales

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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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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Housing to replace Henderson carparks attracts international designers

Published 28 August 2018
5 teams have been shortlisted in a global design competition to redevelop 2 Henderson carparks into housing.

Image above: The Alderman (left) & Falls (right) carparks, across Edmonton Rd from each other in Henderson.

The 2 sites were nominated last year for Reinventing Cities, an international contest to inspire world-leading sustainable design. You can check most of the shortlisted entrants’ websites below.

Reinventing Cities is run by C40, a group of cities around the world working together on climate change, which Auckland Council went close to not joining when membership was proposed in 2015. The super-city’s first mayor, Len Brown, said he was invited to apply for membership at the world cities summit in Singapore in 2014 and believed membership could be beneficial for Auckland’s regeneration.

However, when membership finally went to a vote 7 months after going to a council committee for approval, it was only carried 9-7. Most of the minority said it was a nice idea, but not a priority.

Henderson the urban eco-centre

The Henderson sites were chosen as Auckland’s nominees, fitting the Reinventing Cities criteria for innovative low-carbon design as they’ve been part of a long-held development vision for Henderson as an urban eco-centre.
13 bids were received across both sites. After a screening & selection process, the 5 successful design teams have been selected to progress to the next round. They will be invited to respond to the request for proposal that gets underway in late September. The teams are:

  • Te Tira Ngakaunui, led by Ockham Group (Mark Todd, Auckland) with Cheshire Architects (Auckland) & Jakob + MacFarlane Architects (Paris)
  • Taupae Commons, led by Central Element (Australia) and Nicolas Laisné Architectes (Paris)
  • Te Kopua, led by Province Developments (Collin Elder, Auckland) with Sills van Bohemen Architects (Auckland)
  • Tiriwa Collective, led by international design collective Studio AH-HA (Lisbon)
  • Falls Collaboration, led by Isthmus Group (Auckland & Wellington)

One of the “foreigners” on the shortlist is Brendan MacFarlane, who was born in New Zealand, graduated from the Southern California Institute of Architecture in Los Angeles in 1984, received his master’s degree from the Harvard Graduate School of Architecture in Boston in 1990, and partners Dominique Jakob at their Paris-based firm.

Compelling visions, says Hulse

The Alderman site borders the Oratia Stream and has a proposed cycle route along one edge. The larger Falls carpark is next to the historic Falls Hotel. Both sites have been identified for residential development as part of plans to revitalise Henderson. As prominent ‘gateway’ sites, they have the potential to make a strong visual statement about Henderson’s vision & identity.

Cllr Penny Hulse.

Waitakere ward councillor Penny Hulse, who chairs Auckland Council’s environment & community committee, was deputy mayor when the super-city’s first mayor, Len Brown, proposed membership of C40 and was a leading advocate of environmentally sound development as a councillor in the old Waitakere City.

She said the interest in the C40 competition was an exciting step towards realising Henderson’s future: “It’s great to see such a strong response from the global design community. These are 5 compelling visions for Henderson, all with sustainability front & centre. As the competition moves into a more detailed phase, it will be exciting to see how these visions evolve.

“The urban eco-centre strategy puts families & the environment at the very heart of how Henderson is developed. Reinventing Cities is a great opportunity to capture world-leading expertise to create resilient, future-focused neighbourhoods that will be wonderful places to live.”

Under the Reinventing Cities rules, bidding teams had to respond to 10 challenges central to sustainable precincts – including solutions for energy, water, waste, movement, ecology & greener lifestyles. The RFP (request for proposals) stage will open on 30 September and close in February.

The project is in the hands of Auckland Council development agency Panuku Development Auckland, which has the task of delivering urban redevelopment at multiple locations and on scales from large long-term urban regeneration projects to small projects on specific sites.

Links:
Ockham Group
Cheshire Architects
Jakob + MacFarlane Architects
Central Element
Nicolas Laisné Architectes
Sills van Bohemen Architects
Studio AH-HA
Isthmus Group

Earlier stories:
16 October 2015:
Council to join C40 global climate change network after tight vote
12 October 2015: Why aim high when we’re just fine on low?
16 March 2015: Council holds off joining international climate group C40
6 July 2005: Simpson the boffin councillor sets path for Auckland to become high-flying technology conference site, with a benchmarking brand

Attribution: Council release.

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Rosedale & Henderson properties sell, Takapuna retail passed in

A Rosedale industrial unit and a hardware outlet’s premises in Henderson were sold at NAI Harcourts’ auction today.

A Lake Rd property with 6 retail tenancies in the heart of Takapuna (outlined in photo) was passed in, with the yield at 4.8% on existing rent.

North-east

Rosedale

234D Bush Rd:
Features: 192m² industrial unit, 4 exclusive parking spaces
Rent: $36,240/year net + gst + outgoings, new 4-year lease in place + rights of renewal
Outcome: sold for $678,000 at a 5.3% yield
Agents: Marty van Barneveld & Mike Fotu

Takapuna

461-467 Lake Rd:
Features: 561m² site zoned metropolitan centre with 24.5m height limit, 450m² floor area, seismic rating 40% new building standard, rear service lane, 5 parking spaces
Rent: $133,422/year net + gst from 6 established tenants
Outcome: passed in at $2.775 million
Agents: Andrew Bruce & Rob Meister

North-west

Henderson

33A Bruce McLaren Rd:
Features: 130m² warehouse occupied by hardware retailer, new roof in 2017, 3 exclusive parking spaces
Rent: $25,000/year net + gst + outgoings
Outcome: sold for $431,000 at a 5.8% yield
Agents: Mike Fotu & Marty van Barneveld

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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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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