Tag Archives | Wairau Valley

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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6 sales & 9 leases for Bayleys agents

Bayleys agents on the North Shore have completed 6 sales & 6 leases locally, plus leases in Newmarket, Hobsonville & Riverhead.

Sales

North-east

Rosedale

4 Antares Place, unit F1:
Features: 113m² office, 3 parking spaces
Rent: about $33,065/year net + gst
Outcome: sold in November for $490,000 + gst at a 6.75% yield
Agent: Alex Strever

156 Bush Rd, unit F:
Features: 200m² industrial unit, 4 parking spaces, occupied by Corporate Hygiene Ltd
Rent: about $31,000/year net + gst
Outcome: sold in November for $600,000 + gst at a 5.2% yield, $3000/m² land & building
Agents: Laurie Burt & Matt Mimmack

13 Ride Way, unit B:
Features: 174m² industrial unit, 3 parking spaces
Rent: about $27,000/year net + gst
Outcome: sold in November for $500,000 + gst at a 5.4% yield, $2874/m² land & building
Agent: Laurie Burt

13 Ride Way, unit E:
Features: 174m² industrial unit, 3 parking spaces, occupied by JDK Maintenance Ltd
Rent: $26,500/year net + gst
Outcome: sold in October for $510,000 + gst at a 5.2% yield, $2931/m² land & building
Agent: Laurie Burt

Wairau Valley

201 Archers Rd:
Features: 8524m² site, 1640m² industrial building, tenants Newflor Industries Ltd & Timber Recyclers Ltd
Rent: $181,388.77/year net + gst
Outcome: sold in November for $7.04 million + gst at $826/m² land
Agents: Trevor Duffin, Ranjan Unka & Matt Mimmack

203 Archers Rd:
Features: 620m² industrial building occupied by Bean Ideal Ltd
Rent: about $111,000/year net + gst
Outcome: sold in November for $2.2 million + gst at a 5% yield, $3548/m² land & building
Agents: Trevor Duffin & Ranjan Unka

Leases

Isthmus east

Newmarket

128 Broadway:
Features: 69m² office
Rent: leased in November for $55,000/year net + gst, premises rental $797/m²
Agent: Tonia Robertson

North-east

Birkenhead

21-23 Enterprise St, first floor:
Features: 110m² office, 3 parking spaces
Rent: leased in November for $20,000/year net + gst, parking $20/space/week, net rent excluding parking $16,880/year + gst, premises rental $153/m²
Agents: Ildy Meixner, Caroline McNaught & Michael Nees

Rosedale

63 Apollo Drive, unit C3:
Features: 29m² office, parking space
Rent: leased in November for $16,500/year net + gst   
Agents: Dean Gilbert-Smith & Jane Sims

13 Lovell Court, unit A1:
Features: 50m² office, parking space
Rent: leased in November for $15,000/year net + gst, parking $15/space/week, rent excluding parking $14,220/year net + gst, premises rental $284/m²
Agents: Jane Sims & Steven Liu

5-7 Paul Matthews Drive, ground floor, unit E:
Features: 190m² office, 7 parking spaces
Rent: leased in November for $35,000/year net + gst   
Agents: Laurie Burt & Chris White

Takapuna

507 Lake Rd, level 1, suite 1:
Features: 102m² office, parking space
Rent: leased in October for $32,100/year net + gst, parking $50/space/week, rent excluding parking $29,500/year net + gst, premises rental $289/m²
Agents: Dean Gilbert-Smith & Jane Sims

68-76 Taharoto Rd, level 2, suite 218B:
Features: 18m² office
Rent: leased in November for $29,900/year net + gst, premises rental $1661/m²
Agent: Jane Sims

North-west

Hobsonville

39 Westpoint Drive, unit 2:
Features: 861m² unit – warehouse 663m², office 198m², 12 parking spaces
Rent: leased in November for $150,000/year net + gst 
Agents: Laurie Burt & Matt Mimmack

Riverhead

15 Timber Place:
Features: 2164m² yard
Rent: leased in November for $43,000/year net + gst, premises rental $20/m²
Agent: Rosemary Wakeman

Attribution: Agency release.

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6 sales & 5 leases

Bayleys agents on the Shore have sold 5 commercial properties outside the auctionroom, from Stanmore Bay on the Whangaparaoa Peninsula through to Kelston in the west, and have also leased 5 properties, all on the Shore.

One other sale listed below is a post-auction transaction in Mt Eden.

Sales

Isthmus west

Mt Eden

54 Mt Eden Rd:
Features: 400m² site zoned mixed use, in Grammar zone, 130m² villa, garage + 3 parking spaces
Outcome: passed in at $1.4 million, sold at that figure post-auction
Agents: Alan Haydock, Phil Haydock & Damien Bullick

North-east

Albany

6-8 Omega St, unit 8:
Features: 181m² office unit – office 165m², other area 16m², 5 parking spaces
Outcome: sold in October for $620,000 + gst
Agents: Alex Strever & Ildy Meixner

Stanmore Bay

676 Whangaparaoa Rd:
Features: 261m2 mixed-use 2-level building on a half share of 1104m2 site, . Ground floor copy centre tenant renewed in January for 3 years at $26,300/year net, 3-bedroom apartment above with sea views has a rental appraisal of $27,000/year
Outcome: sold for $830,000
Agents: Mustan Bagasra & Dylan Turner

Takapuna

Sentinel, 3-9 Northcroft St, unit R1:
Features: 85m² retail unit, 6 parking spaces
Rent: $31,750/year net + gst
Outcome: sold in October for $665,000/year net + gst at 4.8% yield
Agents: Terry Kim, David Han & Mustan Bagasra

Wairau Valley

18A Ashfield Rd:
Features: 120m² industrial unit, 2 parking spaces
Rent: $25,800/year net + gst       
Outcome: sold to NZ Longevity Foundation Ltd in October for $475,000 + gst at 5.43% yield, $3958/m² land & building
Agent: James Yu

North-west

Kelston

31 Cartwright Rd, unit B:
Features: 53m2 industrial unit, 4.7m stud warehouse, mezzanine office & storage, new roof, 3 parking spaces
Outcome: sold vacant for $350,000
Agent: Simon Davies

Leases

North-east

Browns Bay

14 Clyde Rd:
Features: 764m² retail property – retail 590m², office 174m², 6 parking spaces
Rent: leased in October for $180,000/year net + gst
Agents: Anna Radkevich & Ranjan Unka

Devonport

57-59 Victoria Rd, office 2:
Features: 12m² office
Rent: leased in October at $9000/year net + gst, premises rental $750/m²
Agents: Chris White

Rosedale

59 Apollo Drive, ground floor right, unit G1:
Features: 155m² office, 4 parking spaces
Rent: leased in July for $43,150/year net + gst, including parking at $20/space/week, net excluding parking $38,990/year, premises rental $252/m²       
Agents: Alex Strever & Laurie Burt

39 Arrenway Drive, unit B3:
Features: 203m² industrial unit
Rent: leased in October for $37,000/year net + gst, premises rental $182/m²
Agents: Laurie Burt

Wairau Valley

89 Ellice Rd, unit 4D:
Features: 125m² industrial unit, 2 parking spaces
Rent: leased in October for $32,000/year net + gst
Agents: Dean Gilbert-Smith, Adam Curtis & Adam Watton

Attribution: Agency releases.

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2 sales & 8 leases for Shore agents

Bayleys agents on the North Shore have signed 2 sales in Albany and 8 leases – 7 on the Shore and the other in Glen Eden.

Sales

North-east

Albany

86 Bush Rd, unit M:
Features: 65m² office unit, 2 parking spaces     
Outcome: sold in September for $375,000 + gst
Agent: Alex Strever

100 Don McKinnon Drive, unit C:
Features: 180m² unit – retail 150m², office 30m², shared parking
Outcome: sold in October for $1.398 million + gst at $7767/m²
Agents: Rosemary Wakeman, Adam Curtis & Millie Liang

Leases

North-east

Devonport

57-59 Victoria Rd:
Features: 200m² retail area
Rent: leased in October for $80,000/year net + gst, premises rental $400/m²  
Agents: Chris White & Adam Curtis

Rosedale

5-7 Paul Matthews Rd, unit E:
Features: 700m² industrial unit – office 325m², warehouse 375m², 15 parking spaces
Rent: leased in September for $120,000/year net + gst
Agents: James Kidd & Chris White

Takapuna

56-60 Hurstmere Rd, shop 1:
Features: 53m² shop
Rent: leased in September for $31,920/year net + gst, premises rental $602/m²
Agent: Ildy Meixner

507 Lake Rd, ground floor:
Features: 200m² retail space
Rent: leased in September for $110,000/year net + gst, premises rental $550/m²
Agents: Adam Curtis & Adam Watton

Wairau Valley

89 Ellice Rd, unit 10B:
Features: 125m² industrial unit, 2 parking spaces
Rent: leased in September for $32,000/year net + gst
Agents: Dean Gilbert-Smith, Adam Curtis & Adam Watton

54 View Rd, ground floor, unit C:
Features: 118m² retail space, one parking space
Rent: leased in September for $21,000/year net + gst
Agents: David Han & Terry Kim

75 View Rd, unit 10:
Features: 61m² office, 2 parking spaces
Rent: leased in October for $13,000/year net + gst      
Agents: Terry Kim & David Han

North-west

Glen Eden

182 West Coast Rd, unit 5:
Features: 100m² retail unit, shared parking
Rent: leased in October for $35,000/year net + gst, premises rental $350/m²
Agents: Steven Liu & Damian Stephen

Attribution: Agency release.

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Wairau Valley lease signed

Colliers North Shore agents have secured a Diana Drive warehouse lease, in the agency office’s latest transactions update.

North-east

Wairau Valley

101 Diana Drive, unit C:
Features: 451.3m² – warehouse 243.1m², ground floor office 99.8m², first-floor office 108.4m², 7 parking spaces
Rent: leased 4 October for $66,000/year net + gst       
Agents: Mike Ryan & Matt Prentice

Attribution: Agency release.

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3 Shore commercial sales & a lease

JLL agent Jaye Miller has finalised a sale & a lease on separate Wairau Valley properties in the last 10 days, following a mid-year Wairau Valley sale and another at Rosedale.

North-east

Sales

Rosedale

10 Canaveral Drive, unit 6:
Features: 473m² office & warehouse unit, 7 parking spaces
Outcome: sold in June for $1.19 million at a 6.05% yield
Agent: Jaye Miller

Wairau Valley

75G Ellice Rd:
Features: 782m² building occupied by Bakers Harvest, 14 parking spaces, at the back of a unit development
Outcome: sold last week for $1.7 million at a 5.08% yield
Agent: Jaye Miller

89-93 Ellice Rd, unit 3A:
Features: 125m² unit,
Outcome: sold in July for $621,500 at a 3.34% yield on current rent, 4.8% at market rent
Agent: Jaye Miller

Lease

Wairau Valley

20 Parity Place:
Features: 650m² building
Rent: leased this week for $90,000/year net + gst
Agent: Jaye Miller

Attribution: Agent release.

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3 Grange units & a Rosedale industrial sold

Bayleys agents have sold 3 units in the Grange retail development at Warkworth (pictured) and an industrial unit in Rosedale.

North-east

Sales

Rosedale

11 Orbit Drive, unit 3:
Features: 555m² industrial unit – warehouse 375m², office 180m², 9 parking space       
Outcome: sold in July for $2 million + gst, at $3604/m² land & building
Agents: Matt Mimmack & Ranjan Unka

Warkworth

The Grange, 97 Auckland Rd:
Unit 3:
Features: 200m² unit, leased for 10 years from September 2016 to Indian restaurant with 2 5-year rights of renewal
Rent: $50,500/year net + gst with annual CPI + 1% increases & review to market on renewal
Outcome: sold for $815,000 at a 6.2% yield
Agents: James Chan, Matt Lee, Adam Curtis & Adam Watton

Unit 7:
Features: 60.3m² unit, leased to a building company for 5 years from July 2017 with no right of renewal
Rent: $22,500/year net + gst with annual CPI + 1% increases & review to market in July 2019
Outcome: sold for $417,500 at a 5.39% yield
Agents: James Chan, Matt Lee & Quinn Ngo

Unit 15:
Features: 367.5m² unit, occupied by Fit Factory 24-hour gymnasium on 6-year lease from March 2017 with 2 6-year rights of renewal
Rent: $91,925/year net + gst with annual CPI + 1% increases and review to market on renewal
Outcome: sold for $1.3 million at a 7.07% yield
Agents: James Chan, Matt Lee & Quinn Ngo

Lease

Wairau Valley

44-48 Ellice Rd, unit 6A:
Features: 110m² office unit, 2 parking spaces (no charge)
Rent: leased in August for $16,000/year net + gst, premises rental $145.45/m²  
Agent: Trevor Duffin

Attribution: Agency release.

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Sale & 4 leases on Shore

Bayleys agents on the North have secured 4 leases and one sale outside the auction room.

North-east

Sale

Wairau Valley

18 Poland Rd:
Features: 3811m² site, 2773m² industrial building, tenant Fresco Shades NZ Ltd
Rent: $290,000/year net + gst
Outcome: sold in August for for $4.95 million + gst at $1785/m² land & building
Agents: Matt Mimmack & Ranjan Unka

Leases

Birkenhead

84 Mokoia Rd, shop 1A:
Features: 98m² shop, parking space
Rent: $30,000/year net + gst, parking $1024/year, premises rental $306/m²       
Agent: Ildy Meixner

Rosedale

4C Arrenway Drive:
Features: 170m² retail, 4 parking spaces
Rent: $55,000/year net + gst excluding parking,
Outcome: premises rental $323.53/m²
Agents: Steven Liu (Bayleys) & Jerry Zheng (NAI Harcourts)

Wairau Valley

18 Link Drive, unit 9:
Features: 404m² retail area, 10 parking spaces
Rent: $82,000/year net + gst excluding parking, premises rental $202.97/m²
Agents: Alex Strever & Ildy Meixner

59 Porana Rd, unit 17:
Features: 95m² industrial unit – warehouse 75m², office 20m², 2 parking spaces
Rent: $15,600/year net + gst, premises rental $164.21/m² (parking included)
Agents: Trevor Duffin

Attribution: Agency release.

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Updated: 2 post-auction sales; strong yields for some, no bid on others as 6 sell at Bayleys’ commercial auction

Published 3 August 2017, updated twice on 9 August 2017
Sale of a small character building at the foot of College Hill at Bayleys’ Total Property commercial auction last Wednesday showed the right property could still sell at a yield under 5%.

That was confirmed by the post-auction sale of a Hurstmere Rd property in Takapuna, at a yield just below 4%. Also sold post-auction was a 2-storey building in East Tamaki occupied by a bar & gaming lounge, sold on a 6.5% yield.

Mind you, sub-5%, or even below 4%, isn’t quite a match for the sub-3% yields 2 old converted houses at the top of College Hill went for at auction in June.

Still, there was a buzz in the auctionroom which has been missing from most auctions in recent months, as auctioneers have tried to squeeze an offer from a smattering of mostly reluctant bidders.

6 properties were sold under the hammer at yesterday’s commercial auction. 4 attracted no bid out of the 7 passed in. Another 2 properties on the list had their auctions postponed and one was withdrawn completely.

Finance has become a central issue in all forms of property transaction, and agents told me of numerous new barriers in the way of a sale, such as insistence on tighter lease terms where those terms had previously not even been raised.

Scores of properties have been passed in without attracting a bid at auctions around Auckland this year, but the absence of a bid on the ANZ premises in the Lincoln North shopping centre in Henderson yesterday was in stark contrast to the frenzy of bidding that occurred when developer Frank Reynolds sold the centre down in 2009.

That was about 18 months into the global financial crisis, a time when caution abounded, but it was also a time when there were plenty of Chinese buyers keen on small retail & fast-food premises and willing to bid strongly. With a new 9-year lease in place, the ANZ premises sold in 2009 for $3.03 million at a 5.47% yield. On that day, all 22 units in the centre sold under the hammer.

CBD

Victoria Quarter

20 Centre St:
Features: 260m² – 83m² café, 177m² office & showroom,
Rent: $100,000/year net + gst
Outcome: no bid
Agents: Oscar Kuang, Ben Wallace & James Chan

Isthmus east

Otahuhu

21 Hall Avenue:
Features: 397m² site zoned business town centre, vacant 269m² building previously occupied by a bank, 5 rear parking spaces  
Outcome: sold for $1.23 million
Agents: Piyush Kumar Peter Migounoff, Tony Chaudhary & Janak Darji

Parnell

11 Farnham St:
Features: 269m² site, standalone building with 4 levels built 10 years ago, 659m² floor area, private lift to penthouse on top 2 floors, conservatory, 4 bedrooms, 5/6-car garage + secured yard parking on ground floor, partitioned office & amenities on level 1, air-conditioned on levels 1-3
Outcome: auction postponed
Agents: Millie Liang

Isthmus west

Avondale

1843 Great North Rd:
Features: 2309m² site zoned multi-use commercial with 32.5m height limit, café & villa with 250m² floor area
Rent: $42,898/year net + gst
Outcome: auction postponed
Agents: Laurie Bell & Kate Kirby

Freemans Bay

3 College Hill:
Features: 276m² site, fully leased 592.5m² 3-level character building, retailer Boardertown occupies basement & ground floor, office tenant above, on leases running to 2023 & 2024 plus signage lease
Outcome: sold for $3.075 million at a 4.92% yield
Agents: Cameron Melhuish, Andrew Wallace & Genevieve Thompson-Ford

North-east

Rosedale

100 Bush Rd, units C & D:
Features: unit C 245m², Unit D 167m², corner office building, new 6-year lease from 1 June, 15 parking spaces
Rent: $118,575/year net + gst
Outcome: withdrawn from auction
Agents: Laurie Burt & Dean Gilbert-Smith

1 Cebel Place, unit B:
Features: 668m² warehouse, showroom & office unit, 15 parking spaces, Wesfarmers subsidiary NZ Safety Blackwoods renewed its lease for 4 years in June, with one further 4-year right of renewal
Rent: $134,000/year net + gst + opex
Outcome: sold for $2.38 million at a 5.63% yield
Agents: Laurie Burt, Matt Mimmack, Tony Chaudhary & Amy Weng

8 Piermark Drive, unit D:
Features: 401m² industrial unit in modern unit-title development with drive-round access, 265m² of high stud warehousing, 2 levels of showroom & office space, 7 parking spaces
Outcome: sold vacant for $1.3 million
Agents: Laurie Burt & Matt Mimmack

Takapuna

Updated: 178 Hurstmere Rd:
Features: 567m² site, 995m² building with dual frontage to Hurstmere Rd & Killarney St, 2 ground-floor shops, first-floor restaurant & hairdressing salon
Rent: $269,117.76/year net + gst + opex current from 4 tenancies after a lease on vacant space was concluded, (originally I used the rental figure used at the start of the campaign, $159,118, plus potential for further $120,000/year)
Outcome: passed in at $6.5 million, sold post-auction for $6.8 million at a 3.96% yield
Agents: Brian Caldwell, Ashton Geissler & Damian Stephen

Wairau Valley

7 Porana Rd, unit C:
Features: vacant 245m² industrial unit, 5 parking spaces        
Outcome: no bid
Agents: Ashton Geissler & Matt Mimmack

135 Sunnybrae Rd:
Features: 1257m² roadfront site, 683m² partly earthquake-prone warehouse & workshop building, longstanding upholstery tenant recently exercised final 2-year right of renewal, smaller rear tenancy on short lease       
Outcome: sold for $1.625 million at a 5% yield to a car sales business
Agents: Ashton Geissler & James Kidd

North-west

Henderson

The Lincoln North shopping centre.

Lincoln North shopping centre, 192 Lincoln Rd, unit 4A:
Features: 503m², ANZ Bank branch on 6-year lease from December 2015, 3 3-year rights of renewal
Rent: $167,550/year net + gst
Outcome: no bid
Agents: Oscar Kuang & James Chan

Westgate

7 Maki St, unit 3:
Features: retail unit, NZ Post as tenant
Rent: $112,513/year net + gst
Outcome: no bid, back on the market at $1.725 million + gst
Agents: Andrew Wallace, Cameron Melhuish & Genevieve Thompson-Ford

South

East Tamaki

Botany South, 8 Bishop Lenihan Place, unit H:
Features: 158m², vacant retail unit in 19-unit complex, 7 allocated parking spaces
Outcome: sold for $580,000
Agents: Terry Kim, Tony Chaudhary & Steven Liu

Updated: 272 Ti Rakau Drive, unit B:
Features: 443m² 2-storey building, 9 parking spaces, bar & gaming lounge on 10-year lease starting in March
Rent: $118,000/year net + gst + opex
Outcome: passed in at $1.6 million, sold post-auction for $1.825 million at a 6.5% yield
Agents: Tony Chaudhary, Janak Darji & Amy Weng

Takanini

88-94 Great South Rd, unit F:
Features: 1191m² floor area, 6 tenancies fully leased
Rent: $242,000/year net + gst     
Outcome: passed in at $3.5 million
Agents: Piyush Kumar & Peter Migounoff

Earlier stories:
13 June 2017: Sub-3% yields on College Hill, and Queen St office sells
8 July 2009: 22 out of 22 shops go at auction

Attribution: Auction.

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Retail & office sales at Albany, Remuera & Takapuna

Bayleys agents on the Shore have sold a retail unit at Albany and a Takapuna office building, and were involved in the sale of a Remuera shop. They’ve also completed 3 new leases.

Isthmus east

Remuera

31C Remuera Rd:
Features: 80m² retail unit with food grade licence, 2 parking spaces
Rent: $10,500/year net + gst
Outcome: sold vacant in July for $840,000
Agents: Ryan Dannhauser, Sarah Boles & James Were

North-east

Albany

270 Oteha Valley Rd, unit 13:
Features: 56m² retail unit in the Foundation convenience centre
Outcome: sold vacant in June for $615,000, at $10,982/m²
Agent: James Yu

Takapuna

39 Taharoto Rd:
Features: 1017m² site zoned mixed use, 568m² 2-level office building, 16 parking spaces, 4 tenants plus 180m² under a conditional leasing contract
Rent: $172,000/year net + gst     
Outcome: sold in July for $3.5 million + gst at a 4.9% yield
Agents: Adam Watton, Adam Curtis & Eddie Zhong

Leases

North-east

Albany

9 Tait Place, unit B3:
Features: 160m² unit – warehouse 100m², showroom 30m², office 30m², 3 parking spaces
Rent: leased in July for $26,000/year net + gst, premises rental $162.50/m² (no cost for parking)
Agents: Terry Kim & Laurie Burt

Takapuna

33 Hurstmere Rd, shop S7:
Features: 140.2m² shop, 4 parking spaces
Rent: leased in July for $84,120/year net + gst, parking $35/space/week, premises rental $600/m²
Agent: Ildy Meixner

Wairau Valley

89 Ellice Rd, unit 5D:
Features: 125m² unit – warehouse 100m², showrooms 25m², 2 parking spaces
Rent: leased in July for $30,000/year net + gst, premises rental $240/m² (no cost for parking)
Agents: Adam Watton & Adam Curtis

Attribution: Agency release.

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