Tag Archives | Mt Wellington

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.

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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.

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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.

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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.

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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.

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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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Ex-state house among 3 intensive living sales

In a mix of 7 intensive living options at Bayleys auctions around Auckland last week, an ex-state house (pictured) sold more for its land value, and a One Tree Hill brick & tile unit also sold under the hammer, while a Hillsborough townhouse sold prior.

All up, the agency offered 34 residential properties at its auctions and sold 11. 3 were withdrawn or had their auction postponed.

Isthmus east

Greenlane

7 Garland Rd:
Features: 668m² corner section zoned mixed housing urban, 1930s ex-state house, 2 bedrooms, garage & carport
Outcome: sold for $1.595 million at $2388/m² land
Agents: Jeff Clayton & Helen Yan

Mt Wellington

8 Thompson Park Rd, unit 25:
Features: studio with sliding door to bedroom, parking space, built last year
Outgoings: rates $1186/year including gst
Outcome: passed in, back on market at $419,800
Agents: Harry Cheng & Cheryl Regan

One Tree Hill

123A Campbell Rd, unit 2:
Features: 2-bedroom 1960s unit, parking space
Outcome: sold for $790,000
Agent: Lindy Lawton

Remuera

16 Buttle St, unit 2:
Features: 2-bedroom unit, parking space
Outcome: passed in
Agent: John Howard

Isthmus west

Hillsborough

138B Hillsborough Rd:
Features: 3-bedroom townhouse, 2 bathrooms, 2 living rooms, parking space
Outcome: sold prior for $780,000
Agent: Dianne Burt

North-east

Long Bay

20C Caldera Drive:
Features: 4-bedroom townhouse, 2 bathrooms, 2 living rooms, double garage
Outcome: passed in
Agents: Jiang Kou & Therese Leslie

North-west

Te Atatu South

36A Tirimoana Rd:
Features: 3-bedroom townhouse, 2 bathrooms, double internal-access garage
Outcome: passed in, back on market at $859,000
Agents: Kees Van Drongelen

Attribution: Agency release.

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7 of 19 intensive homes sell at Barfoot auctions

7 sold at Barfoot & Thompson’s city office auction sessions on Wednesday & Thursday out of 19 intensive living units listed below, which include apartments in both the cbd & suburbia, traditional brick & tile units, some terraces & townhouses and, from the Wednesday afternoon session, some cross-leased properties.

The properties listed below are all intensive in some form, so exclude standalone homes (unless they’re on a cross-lease).

A regular feature of the market is the appearance of properties at various stages of leaky building remediation, and 2 fit that description here.

Every agency handling apartments also has a supply of units in the brand-new Sugartree development’s second stage, Centro, to offer. Ray White City Apartments had 2 yesterday and Barfoots had one – all passed in.

The auction rooms have mostly been quiet, and the distinguishing feature has been the high proportion of the offering which attracted no bid – 6 of those listed here – despite, in some cases, bidders registering.

CBD

Learning Quarter

Tetra House, 85 Wakefield St, unit 413:
Features: one bedroom, 2 bathrooms
Outgoings: body corp levy $4196/year
Outcome: no bid, back on market at $349,000
Agents: John Zhang & Richard Tan

Uptown

Kiwi on Queen, 421 Queen St, unit 805:
Features: 2 bedrooms
Outgoings: body corp levy $4591/year
Income assessment: $480/week current, fixed until February
Outcome: sold for $310,000
Agents: Stephen & Leo Shin

Victoria Quarter

City Oaks, 188 Hobson St, unit 210:
Features: fully furnished 2 bedrooms
Outgoings: rates $1201/year including gst; body corp levy $5775/year
Income assessment: vacant
Outcome: passed in at $260,000
Agents: Johnson Chen

Sugartree Centro, 145 Nelson St, unit 212:
Features: 100m² – 76m² internal, 24m² balcony, 2-bedroom apartment, 2 bathrooms, balcony, carport, storage locker
Outcome: passed in
Agent: Tristan Young

Isthmus east

Mt Wellington

50 Rutland Rd, unit 1:
Features: 2-bedroom unit, terrace, carport
Outcome: sold for $650,000
Agents: Carolyn & Peter Brooks

Panmure

44 Pilkington Rd, unit 5:
Features: 2-bedroom unit, garage
Outcome: no bid
Agents: Jane Wang & Angela Liu

Remuera

7B Lingarth St:
Features: 383m² section, 200m²-plus 4-bedroom townhouse, 2 bathrooms, office, courtyard, double garage
Outcome: no bid, back on market at $1.469 million
Agent: Paul Groom

50 Monteith Crescent:
Features: 1080m² section, 3 3-bedroom townhouses, all on fixed-term tenancies, 3 parking spaces
Outcome: passed in
Agent: Karin Cooper

276 Victoria Avenue, unit 1:
Features: cross-lease, 1/3 share in 993m², 2-level 4-bedroom townhouse, 2 bathrooms, conservatory, double garage
Outcome: no bid
Agents: Frances Li & Raymond Chan

Isthmus west

Grey Lynn

North Apartments, 197 Great North Rd, unit 205:
Features: 101m², 2-bedroom apartment, 2 bathrooms, balcony, double garage, secure storage
Outgoings: body corp levy $5284/year
Outcome: sold for $1.805 million
Agents: Ryan Harding & Louise Stringer

33 Mackelvie St, unit 1I:
Features: about 60m², one-bedroom apartment, secure parking
Outgoings: body corp levy $3374/year
Income assessment: $550-570/week
Outcome: sold for $550,000
Agent: Tim Roskruge

Summerfield Villas, 386 Richmond Rd, unit 1:
Features: m², 4-level 4-bedroom terrace, 2 bathrooms, double garage, reclad terrace, tandem internal-access garage; repair work on the complex now being undertaken in 3 stages following leaky building claim, work on this unit completed, vendor has set aside balance of repair levy but any further costs would be liability of new owner; there is a code compliance settlement clause
Outgoings: body corp levy $3602/year + remedial levies
Outcome: no bid
Agent: Jonathan White

Mt Eden

2 Matipo St, unit 2:
Features: 2-bedroom unit, garage
Outcome: sold for $958,000
Agents: Sara Knight & Vern Hines

905 Mt Eden Rd, unit 9:
Features: 2-level 5-bedroom house, 3 bathrooms, double internal-access garage, code compliance certificate not yet issued for original construction in 2004 & recladding this year
Outgoings: body corp levy $3422/year
Outcome: passed in at $1.38 million, back on market at $1.595 million
Agent: Sue Saywell

76 Wairiki Rd:
Features: cross-lease, half share in 1015m², 2-storey 4-bedroom bungalow, 2 bathrooms, study, 3 living areas, double garage
Outcome: no bid, back on market at $1.799 million
Agents: Derek Helliwell & Cathy Giles

Sandringham

3 Mars Avenue:
Features: cross-lease, half share in 850m², 3-bedroom bungalow, 2 bathrooms, carport
Outcome: passed in at $1.2 million, back on market at $1.315 million
Agents: Sara Knight & Vern Hines

North-east

Hillcrest
104 Pupuke Rd, unit 2:
Features: cross-lease, half share in 1421m², 4-bedroom townhouse, 2 bathrooms, garage, carport
Outcome: sold for $980,000
Agent: Jonathan White

Northcote Point

12 Belle Vue Avenue, unit 4:
Features: cross-lease, 1/5 share in 1470m², 2-bedroom unit, internal-access garage
Outcome: sold for $769,000
Agent: Bev Bellas & Jo Meechan

North-west

Hobsonville

255A Hobsonville Rd, unit 1:
Features: cross-lease, half share in 703m², 3-bedroom house, internal-access garage
Outcome: passed in at $735,000, back on market at $785,000
Agents: Kelly Zhang & Sammi Huang

Attribution: Auctions.

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4 commercial leases in Auckland & Christchurch

Knight Frank agents have secured 4 commercial leases, 2 on the Auckland isthmus and 2 in Christchurch.

Leases

Isthmus east

Ellerslie

130B Main Highway:
Features: 70m² office, storage shed, 4 parking spaces
Rent: $25,000/year net + gst + opex      
Agent: Sophie Dixon

Mt Wellington

1066 Great South Rd, unit R:
Features: 75m² warehouse & amenities, 73m² mezzanine office, 2 parking spaces
Rent: not disclosed  
Agent: Scott Worrall

South Island

Canterbury

Christchurch cbd

137 High St, level 1:
Features: 100.8m² first-floor office, 63.4m² balcony
Rent: $31,971/year net + gst + opex      
Agent: Tom Lax

Halswell

3 Kennedy’s Bush Rd, ground floor unit 3:
Features: 45m² ground-floor office unit, parking space
Rent: $15,000/year net + gst + opex      
Agent: Campbell Taylor

Attribution: Agency release.

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5 apartment & suburban unit auction sales for Barfoots

An apartment in the new Fiore 2 (pictured), across Cook St from the central police station, and 3 suburban units sold under the hammer at Barfoot & Thompson’s city auctions this week. A Newmarket apartment sold post-auction.

CBD

Learning Quarter

4 Seasons, 22 Emily Place, unit 1H:
Features: 26m² studio, 3.7m stud
Outgoings: rates $1070/year including gst; body corp levy $3477/year
Income assessment: $330/week, fixed until January
Outcome: passed in at $210,000
Agents: Zoran Farac & Leo Shin

Victoria Quarter

Fiore 2, 168 Hobson St, unit 101:
Features: 53m², one bedroom
Outgoings: rates $1640/year including gst; body corp levy $2233/year
Income assessment: $470/week current, appraisal $480-520/week
Outcome: sold at pre-auction on Tuesday for $408,000
Agents: Stephen Shin & Justin Choi

Isthmus east

Meadowbank

7A Archdall St:
Features: cross-lease, half share in 677m², 2-bedroom unit, garden, patio, double garage
Outcome: sold for $870,000
Agents: Andy Dye & Andrew Pender

Mt Wellington

27 Rutland Rd, unit 1:
Features: cross-lease, quarter share in 1011m², 2-bedroom unit, deck, garden, internal-access garage
Outcome: sold for $739,000
Agents: Carolyn & Peter Brooks

Newmarket

2B Laxon Terrace:
Features: 2 bedrooms, covered terrace, 2 side-by-side parking spaces
Outcome: passed in at $800,000, sold post-auction
Agent: Liz Derbyshire

Isthmus west

Kingsland

68C Fourth Avenue:
Features: one bedroom, private garden, carport
Outcome: sold for $489,000
Agent: Jo Pickering

Attribution: Auctions.

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