Tag Archives | Mt Wellington

East Tamaki & Mt Wellington warehouses sell

Bayleys agents have sold 2 warehouses in East Tamaki & Mt Wellington (picture above).

Isthmus east

Mt Wellington

24 Vestey Drive:
Features: 2834m² site, 1780m² industrial building – 1025m² of factory/warehouse space, 3 roller doors plus 2 levels of offices on street frontage, 28 parking spaces; Jazz Print, in occupation since 1996, has a 6-year lease from settlement & 2 3-year rights of renewal
Rent: $250,000/year net + gst, 2% annual rental increases
Outcome: sold for $5.15 million at a 4.85% yield
Agents: James Hill, Sunil Bhana & Mike Houlker

84 Lady Ruby Drive, East Tamaki.

South

East Tamaki

84 Lady Ruby Drive:
Features: 2153m² site, 843m² industrial building, 8m high clearspan warehouse roof, 2 levels of showroom & offices; 36.5% site coverage provides opportunity for expansion
Rent: $100,000/year net + gst holding income
Outcome: sold for $3.2 million to an owner-occupier
Agents: Katie Wu, John Bolton & Roy Rudolph

Attribution: Agency release.

Continue Reading

3 sold in focus on cross-leases

7 of the 11 homes auctioned at Barfoot & Thompson’s city office yesterday afternoon were cross-leases, and 3 sold.

Also up for auction were a townhouse not on a cross-lease, an apartment & 2 standalone houses, all passed in.

A Newmarket apartment auctioned in the morning didn’t attract a bid.

The brick-&-tile sausage block is the standard from the past and they’re generally holding buyer interest, though the one in the photo above, in Mt Albert, didn’t attract a bid. Recent indications from the auctionrooms are that owners of suburban units & cross-leased homes, having gone to market, are resisting price reductions.

Isthmus east

Greenlane

93 Wheturangi Rd, unit 2:
Features: cross-lease, 1/5 share in 1942m², 2-bedroom unit, study, conservatory, garage
Outcome: sold for $1.057 million
Agents: Wendy Sadd & Helen Lam

Mt Wellington

36 Panama Rd, unit 1:
Features: cross-lease, ¼ share in 1232m², 2-bedroom unit, garage
Outcome: no bid
Agent: Paula Boontueng

Newmarket

Queen’s Lodge, 176 Broadway, unit C308:
Features: 64m², 2-bedroom apartment, 2 ensuites, secure covered parking space
Outgoings: body corp levy $2144/year for unit, $415/year for parking
Income assessment: $650-680/week
Outcome: no bid, back on market at $658,000
Agents: Selina Zheng & Tommy Zhang

Onehunga

49 Namata Rd, unit 2:
Features: cross-lease, 1/3 share in 895m², 2-bedroom unit – double-glazed, insulated, rewired; carport
Outcome: sold for $750,000
Agent: Kelly Fan

Remuera

17A Armadale Rd:
Features: cross-lease, 1/3 share in 858m², 3 bedrooms, 2 bathrooms, carport
Outcome: passed in at $1,281,500
Agents: Wayne Guo & Coco Wang

Isthmus west

Mt Albert

8 Counsel Terrace, unit 3:
Features: cross-lease, 1/6 share in 1315m², one-bedroom unit
Outcome: no bid, back on the market at $610,000
Agents: Wayne Guo & Zoe Zhang

Mt Eden

145 Mt Eden Rd, unit 10:
Features: 2-bedroom apartment, parking space
Outgoings: body corp levy $4343/year
Outcome: passed in at $820,000
Agent: Mozhgan Bahrami

573C Mt Eden Rd:
Features: 209m², 4-bedroom townhouse, 3 bathrooms, double garage
Outcome: passed in at $1.55 million
Agents: Ricky Fan & Joyce Gu

Mt Roskill

98 Melrose Rd, unit 4:
Features: cross-lease, ¼ share in 1378m², 75m² 2-bedroom unit, parking space
Outcome: passed in at $560,000
Agents: Michael Zhang & Debbie-Lee Wallace

North-west

New Lynn

1 Riverview Rd, unit 1:
Features: cross-lease, half share in 1042m², 180m² 3-bedroom unit, 2 bathrooms, double garage
Outcome: sold for $907,500 at auction brought forward
Agents: Anna Lechtchinski & Alex Wu

Attribution: Auction.

Continue Reading

Mt Wellington warehouse sells at 5% yield

A Mt Wellington warehouse, showroom & office (outlined at foot of photo) was sold just above a 5% yield at Colliers’ auction today.

Isthmus east

Mt Wellington

12 Fisher Crescent:
Features: 2000m² site, 1203m² standalone office and clearspan showroom & warehouse refurbished in 2014 – warehouse 742m², offices on 2 levels 460m², dual roller doors, 360m² concrete yard; new 4-year lease to Nilfisk Ltd in place, fixed 2.75% annual rent reviews, market reviews on renewal, 2 4-year rights of renewal
Rent: $199,986/year net + gst (warehouse $120/m², office $235/m²)
Outcome: sold for $3.975 million at a 5.03% yield
Agents: Ben Herlihy & Hamish West

Attribution: Auction.

Continue Reading

Yield slashed as panelbeating shop sold again

A Penrose property occupied by a panelbeater has been sold by Bayleys agents on a 4.9% yield. It was previously sold in December 2014 for $1.23 million at a 7.52% yield.

Another 4 properties around Auckland’s southern suburbs were sold vacant.

Isthmus east

Glen Innes

233 Taniwha St:
Features: 429m² site zoned town centre (height limit 32.5m), dual street frontages; 248m² industrial building more recently used for offices, with potential to convert to retail/showroom; 7 parking spaces
Outcome: sold vacant for $1.22 million
Agent: Phil Haydock

Mt Wellington

218K Marua Rd:
Features: 549m² industrial unit – 332m² high stud warehouse, 168m² mezzanine, 48m² office & amenities, 90m² fenced courtyard, 9 parking spaces
Outcome: sold vacant for $1.75 million
Agents: James Valintine & Greg Hall

Onehunga

8-10 O’Rorke St:
Features: 1563m² corner site in 2 titles, with frontage also to Neilson St, zoned mixed use (height limit 21m); large yard areas with multiple buildings including 2 dwellings converted for office & storage
Outcome: sold with vacant possession for $2.165 million
Agents: James Valintine & James Hill

Penrose

176-178 Station Rd:
Features: 1621m² site zoned light industrial, 2 separate workshop buildings totalling 863m², leased to panelbeating business over both titles
Rent: $98,000/year net + gst
Outcome: sold for $2 million at a 4.9% yield
Agents: William Gubb, James Hill & Greg Hall

South

East Tamaki:

24 Sir William Avenue, unit E:
Features: 367m² industrial unit, mixture of tilt slab and block construction, 2 roller doors, 7 parking spaces
Outcome: sold vacant for $1.12 million at $3051/m²
Agent: Nelson Raines

Attribution: Agency release.

Continue Reading

4 industrial sales & 10 leases

Commercial Realty Ltd agents have completed 4 industrial sales for over $50,000, also leased one of those properties and signed another 9 leases since April. The agency specialises in industrial & commercial property. I haven’t gone back to determine the types of property in each transaction.

Sales

Isthmus east

St Johns

145F Morrin Rd:
Features: 91m²
Outcome: sold for $350,000 + gst
Agent: David Turner

South

East Tamaki

29F Neilpark Drive:
Features: 100m²
Outcome: sold for $320,000 + gst
Agent: David Turner

South of the Bombays

Manawatu

Levin

16-20 Roe St:
Features: 1315m²
Outcome: sold for $2.45 million + gst, leased for $175,000/year + gst
Agent: John Lee

Waikato

Pokeno

Gateway Business Park:
Features: 11,000m² of land
Outcome: sold for $2.439 million + gst
Agent: Mark Bramwell

Leases

Isthmus east

Mt Wellington

24R Allright Place:
Features: 485m²
Rent: leased for $56,000/year + gst
Agent: Danny Guise

Onehunga

14 Angle St:
Features: 575m²
Rent: leased for $78,000/year + gst
Agent: Danny Guise

Penrose

Part 8-12 Greenpark Rd:
Features: 1460m²
Rent: leased for $185,000/year + gst
Agents: Danny Guise & Willie Fernandes

373 Neilson St:
Features: 2598m²
Rent: leased for $435,476/year + gst
Agent: Willie Fernandes

Isthmus west

Mt Roskill

62-68 Carr Rd:
Features: 1050m²
Rent: leased for $76,800/year + gst
Agent: Reid McGowan & Willie Fernandes

South

East Tamaki

110D Cryers Rd:
Features: 309m²
Rent: leased for $52,000/year + gst
Agent: David Turner

Mangere

17 Aintree Avenue:
Features: 1100m²
Rent: leased for $150,000/year + gst
Agent: Kerry McGuffog

Part 38 Richard Pearse Drive:
Features: 1566m²
Rent: leased for $195,000/year + gst
Agents: Mike Edward, Reid McGowan & Willie Fernandes

Papakura

40-52 Hunua Rd:
Features: 1000m²
Rent: leased for $123,575/year + gst
Agent: Mark Bramwell

Attribution: Agency release.

Continue Reading

7 industrial & commercial sales

Bayleys agents have sold 2 industrial properties in Mt Wellington and 5 commercial & industrial properties in the Airport Oaks, East Tamaki & Howick.

Isthmus east

Mt Wellington

1066 Great South Rd, unit T:
Features: 93m² industrial unit
Outcome: sold with vacant possession for $315,000 at $3387/m² land & building rate
Agent: Ben Wallace

147 & 147A Marua Rd:
Features: 2 standalone industrial buildings totalling 450m² on separate titles totalling 1019m², previously occupied by a panelbeating business
Outcome: sold with vacant possession for $1.86 million
Agents: Mike Adams, Phil Haydock & James Valintine

South

Airport Oaks

45 Rennie Drive:
Features: 1294m² site, 750m² industrial unit, 500m² of medium-stud warehousing & 250m² of air-conditioned offices, 6 parking spaces
Outcome: sold vacant for $1.75 million
Agents: Alex McNeil & Nick Bayley

East Tamaki

8 Bishop Lenihan Place, unit A:
Features: vacant 558m² unit, formerly a foodcourt, in retail complex
Outcome: sold for $1.76 million at $3154/m²
Agent: Quinn Ngo

4A/9 Laidlaw Way:
Features: 85m² tilt slab industrial unit with small office & majority warehousing
Rent: month-by-month tenancy returning $16,696/year gross
Outcome: sold for $287,500
Agent: Nelson Raines

Howick

Cook St Plaza, 15 Cook St, unit C:
Features: 162m² retail unit in corner position
Outcome: sold vacant for $720,000 at $4444/m²
Agents: Nick Bayley & Geoff Wyatt

8-14 Moore St:
Features: 875m² site zoned town centre (9m height limit), refurbished 443m² commercial building, 5 retail tenants on ground floor, hairdresser & office tenancy above, plenty of parking on underutilised land at rear
Rent: $114,485/year net + gst
Outcome: sold for $2.94 million at a 4.91% yield
Agents: Janak Darji, Amy Weng & Tony Chaudhary

Attribution: Agency release.

Continue Reading

Kohi unit & St Heliers house sell, but 15 other homes passed in

The first property up for sale at Barfoot & Thompson’s apartments & houses auction this morning – a large cross-leased unit just off Tamaki Drive in Kohimarama – was sold under the hammer, and the third offering of the day, a house in St Heliers, was also sold.

The other 15, including 5 other apartments, a terrace & a suburban unit with sleepout, were all passed in.

Barfoot’s moved to a dedicated apartments & commercial auction on Thursday mornings at its city office a couple of years ago, but struggled to get a large selection – when the agency’s city residential property business could run through 80 auctions in a day, 2 sessions in 2 auctionrooms.

The agency’s commercial branch has rarely offered more than 2 properties at these auctions, while apartment numbers have also dwindled.

So today’s offering was a novelty – 9 houses and a larger selection of intensive housing than usual – but with an outcome that’s become commonplace since the residential markets started to turn downward around 18 months ago.

CBD

Kitchener St

Metropolis, 1 Courthouse Lane, unit 2114:
Features: 51m², 2-bedroom apartment
Income assessment: $675/week current until October
Outcome: passed in
Agents: Aaron Cook & Holly Huang

Learning Quarter

The Quadrant, 10 Waterloo Quadrant, unit 1606:
Features: fully furnished 2-bedroom apartment, parking space
Outcome: no bid
Agent: Oleg Lykov

Isthmus east

Kohimarama

28 Speight Rd, unit 3:
Features: cross-leased, 3-bedroom unit, deck, internal-access garag
Outcome: sold for $1.08 million
Agent: Lynette Boyd

Mt Wellington

Mountain View, 68 Mountain Rd, unit 52:
Features: 2-bedroom apartment, balcony, 2 covered parking spaces
Outcome: no bid, back on market at $570,000
Agents: Nathan Canton & Bev Bellas

Newmarket

373 Khyber Pass Rd, unit 17:
Features: studio
Outcome: passed in, back on market at $355,000
Agent: Cici Wang

Isthmus west

Eden Terrace

10 Ruru St, unit 31:
Features: 107m², 3-level one-bedroom terrace, balcony, double internal-access garage, reclad and new code compliance certificate issued 2010
Outcome: passed in
Agents: Eugene Yamamoto & Joanne Simpson

Mt Eden

30A Enfield St, unit 102:
Features: 3-bedroom apartment, 2 bathrooms, deck, garage
Outcome: passed in, back on market at $1.115 million
Agent: Jill Jackson

South

Mangere East

239 Robertson Rd, unit 1:
Features: 326m² section, 70m² 2-bedroom unit + 20m² sleepout with own bathroom, carport
Income assessment: $560/week current
Outcome: passed in
Agents: Neno Radinovich & Brett Innes

Attribution: Agency release.

Continue Reading

5 industrial sales around isthmus & Mangere

Bayleys agents have completed 5 industrial sales around the east of the Auckland isthmus and in Mangere, ahead of today’s second Total Property auction for the year. I’ll have the auction results tomorrow.

The sales included one of the properties Augusta Capital Ltd has bought to seed its new industrial property fund.

Isthmus east

Mt Wellington
1066 Great South Rd, unit T:
Features: 93m² industrial unit
Outcome: sold with vacant possession for $315,000 at $3387/m² land & building
Agent: Ben Wallace

20 Paisley Place:
Features: 1.363ha site, 7877m² industrial building; Americold NZ Ltd has a lease expiring 30 November 2019, and primary producer logistics company Icepak Ltd, a subsidiary of Halls Group, is to lease the property for 12 years from 1 December 2019
Outcome: sold to Augusta Industrial Fund for $25,384,615 at a 6.5% yield
Agents: Chris Bayley & Mike Houlker

Otahuhu

35 Atkinson Avenue:
Features: 1095m² site, recently refurbished 520m² industrial building, fully occupied by 4 tenants, anchored by new 10-year lease
Outcome: sold for $1.63 million at a 6.13% yield
Agents: Scott Kirk, James Were & Tony Chaudhary

St Johns

67H Elizabeth Knox Place:
Features: 300m² industrial unit – warehouse 160m², office 140m²
Outcome: sold for $1,195,000 with vacant possession at $3983/m² land & building
Agents: Greg Hall & Chris Bayley

South

Mangere

4 Waokauri Place:
Features: 3733m² site, steel manufacturing plant comprising 2112m² of warehouse & 220m² of offices; longstanding owner-occupier Formsteel Technologies Ltd has leased back for 6 years with 2 3-year rights of renewal
Outcome: sold for $4 million at a 6.35% yield
Agents: Dave Stanley & Jamsheed Sidhwa

Attribution: Agency release.

Continue Reading

5 commercial sales include 3 in Orchard Park

Bayleys agents have sold 3 warehouse & retail units in the Orchard Park subdivision on Corinthian Drive, Albany, a mixed-use property on Barrys Pt Rd in Takapuna and a warehouse in Mt Wellington.

2 other units at 21 Corinthian Drive, 7A & 7B, sold at auction on 7 March.

North-east

Albany – Orchard Park

18 Corinthian Drive, unit 10:
Features: 190m² industrial unit – warehouse 112m², office 78m², canopy 20m²
Outcome: sold vacant in March for $713,000 + gst at $3753/m²
Agents: James Yu & Matt Mimmack

18 Corinthian Drive, unit 11:
Features: 190m² industrial unit – warehouse 112m², office 78m², canopy 20m²
Outcome: sold vacant in March for $713,000 + gst at $3753/m²
Agents: James Yu & Matt Mimmack

21 Corinthian Drive, unit 1:
Features: 450m² retail occupied by Albany Supermarket Ltd
Rent: $260,000/year net + gst
Outcome: sold in March for $4.3 million + gst at $9556/m², 6% yield
Agents: David Han, Eddie Zhong, Terry Kim & Ranjan Unka

Takapuna

55 Barrys Pt Rd:
Features: 1549m² industrial, office & retail property
Rent: $285,630/year net + gst
Outcome: sold in March for $5.775 million + gst at $3728/m², 4.95% yield
Agents: James Kidd & Matt Mimmack

Isthmus east

Mt Wellington

26 Vestey Drive:
Features: 2049m² industrial property, 39 parking spaces, tenant Estee Lauder Ltd
Rent: $307,645/year net + gst
Outcome: sold in December for $5.55 million + gst at $2709/m², 5.54% yield
Agents: Sunil Bhana, Mike Houlker & Ranjan Unka

Earlier story:
9 March 2018: 8 commercial properties sell for total $11 million

Attribution: Agency release.

Continue Reading

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.

Continue Reading
WordPress Appliance - Powered by TurnKey Linux