Archive | Takapuna

Bayleys’ Shore commercial office ends year with 4 sales & 6 leases

Bayleys commercial agents on the North Shore have reported 4 sales & 6 leases to complete their 2018 business.

They include one sale on Waiheke Island, of an apartment complex manager’s unit initially passed in at auction, and a land sale in the new Highgate business park at Silverdale.

5 of the leases were for properties around Rosedale.

Sales

Hauraki Gulf islands

Waiheke Island

Onetangi

141 The Strand, unit 1:
Features: 104m² manager’s unit in the Sands apartment complex, parking space 
Rent: $28,723/year net + gst + outgoings
Outcome: passed in without a bid at auction in October, sold in December for $525,000 + gst at a 5.47% yield
Agents: Brian Caldwell & Jane McKee

North-east

Northcross

950 East Coast Rd:
Features: 1012m² office property, 20 parking spaces
Rent: $142,627/year net + gst
Outcome: sold in December for $3.1 million + gst at a 4.6% yield
Agent: John Algie

Silverdale

Highgate Business Park, lot 7:
Features: 2626m² industrial lot 
Outcome: sold in August 2018 for $1,420,740 at $541/m²
Agent: Rosemary Wakeman

Takapuna

Sentinel, 3-9 Northcroft St, R3, R7 & R8:
Features: 180m² café + ancillary areas & 2 additional covered areas in 3 titles, shared parking
Rent: $48,400/year net + gst
Outcome: sold in December for $900,000 at a 5.38% yield
Agents: Adam Curtis, Adam Watton & Damian Stephen

Leases

North-east

Pinehill

6 Rosedale Rd, unit X:
Features: 58m² office unit, 2 parking spaces
Rent: leased in December for $17,000/year net + gst
Agent: Caroline McNaught

Rosedale

329 Albany Highway, unit 8:
Features: 60m² retail unit, shared parking
Rent: leased in November for $60,000/year net + gst
Agent: Steven Liu

63 Arrenway Drive, unit 5:
Features: 118m² industrial unit – warehouse 80m², office 19m², other area 19m², 2 parking spaces
Rent: leased in December for $28,000/year net + gst
Agents: Ian Waddams, Steven Liu & Meng He

5 Beatrice Tinsley Crescent, unit C:
Features: 414m² industrial unit – warehouse 282m², office 132m², 7 parking spaces
Rent: leased in December for $69,000/year net + gst
Agents: Laurie Burt & Matt Mimmack

57-59 Paul Matthews Rd, unit 2:
Features: 215.52m² industrial unit – warehouse 54.62m², office 107.35m², mezzanine 53.55m², 3 parking spaces
Rent: leased in November for $40,000/year net + gst
Agents: Trevor Duffin & James Kidd

8 Vega Place, ground floor, unit C:
Features: 70m² office unit, 2 parking spaces
Rent: leased in November for $12,500/year net + gst
Agent: Ian Waddams

Attribution: Agency release.

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Spencer & Zest apartments sell

2 apartments in the Spencer on Byron (pictured) & Zest were sold at Ray White City Apartments’ final auction for the year yesterday.

No bid was made for a unit in the leasehold Docks complex, where owners are progressing a leaky building claim & remedial work. The top bid for the fourth property up for auction, a house at Greenhithe, went on an offer contract.

The agency will resume its auctions on 24 January.

CBD

Quay Park

The Docks, 4 Dockside Lane, unit 311:
Features: leasehold, 74m², 2-bedroom corner apartment, balcony, parking space; the building has leaky issues and the buyer waives any right of recovery against the vendor; the buyer will be liable for any further levies
Outgoings: rates $1904/year including gst; body corp levy $18,586/year including gst, which includes ground rent of $11,785/year
Income assessment: $660/week until August
Outcome: no bid
Agent: Victor Liu

Victoria Quarter

Zest, 72 Nelson St, unit 627:
Features: 37m², 2 bedrooms, parking space
Outgoings: rates $1265/year including gst; body corp levy $4901/year including gst
Income assessment: unit $400/week until February, park $65/week until April
Outcome: sold for $380,000
Agent: Victor Liu

North-east

Greenhithe

1 Northbrook Close:
Features: 505m² section, 176m² house, 4 bedrooms, 2 bathrooms, double garage + offstreet space
Outgoings: rates $2694/year including gst
Outcome: passed in with offer on contract at $1.01 million
Agents: Zoran Farac & Marco Sahar

Takapuna

Spencer on Byron, 9-17 Byron Avenue, unit 1008:
Features: 48m², one bedroom with French doors to balcony, parking space
Outgoings: rates $5391/year including gst; body corp levy $3874/year including gst
Outcome: sold for $336,000 + gst
Agents: Gillian Gibson & James Mairs

Attribution: Auction.

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Leases signed on Mt Wellington motel & 3 Shore office units

Bayleys agents on the North Shore have signed up leases on 3 office units in Albany, Milford & Takapuna, and the lease on a Mt Wellington motel.

Leases

Isthmus east

Mt Wellington

580 Mt Wellington Highway:
Features: 984m² motel (ex-Duchess Motor Lodge)
Rent: $180,000/year net + gst, premises rental $183/m²
Agent: Terry Kim

North-east

Albany

61 Constellation Drive, level 3, suite 308:
Features: 5.5m² office
Rent: $10,821.84/year net + gst at $1967.61/m²
Agent: Jane McKee

Milford

164 Kitchener Rd, unit 5:
Features: 30.76m² office, 3 parking spaces
Rent: $21,340/year net + gst, parking $30/space/week, rental excluding parking $16,660/year, premises rental $542/m²
Agent: Ian Waddams

Takapuna

18 Anzac St, unit 3:
Features: 101m² office
Rent: $26,350/year net + gst at $261/m²
Agents: Dean Gilbert-Smith & Damian Stephen

Attribution: Agency release.

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3 Shore lease contracts

Bayleys commercial agents on the North Shore have signed 3 lease contracts in the last week in Devonport, Rosedale & Takapuna.

Leases

North-east

Devonport

10 Victoria Rd, shop 5:
Features: 53m² shop
Rent: leased in October for $25,000/year net + gst, premises rental $472/m²
Agents: Dev Choudhury & Adam Curtis

Rosedale

18 Airborne Rd:
Features: 50m² retail unit, parking space
Rent: leased in October for $10,000/year net + gst
Agents: Dev Choudhury & Steven Liu

Takapuna

68-76 Taharoto Rd, ground floor, tenancy A1:
Features: 595.21m² office, 20 parking spaces
Rent: leased in October for $270,203.50/year net + gst; parking 9 spaces at $65/space/week, 11 spaces at $55/space/week; rental excluding parking $208,323.50, premises rental $350/m²
Agent: Dean Gilbert-Smith

Attribution: Agency release.

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3 B-hive suites & 4 Rosedale units leased

Bayleys agents have leased 3 offices & an industrial unit around Rosedale on the North Shore, and 3 office suites in the B-hive at Smales Farm (pictured), where leasing & spaces are flexible.

Leases

North-east

Rosedale

100 Bush Rd, building E:
Features: 27m² office, parking space
Rent: leased in October for $13,000/year net + gst
Agent: Caroline McNaught

12 John Glenn Avenue, unit B:
Features: 545m² industrial unit – warehouse 412m², showroom 71m², office 62m², 7 parking spaces
Rent: leased in October for $88,000/year net + gst
Agent: Laurie Burt

4 Ride Way, unit A:
Features: 362m² office unit – warehouse 107.2m², office 234m², mezzanine 21.2m², 6 parking spaces
Rent: leased in October for $64,000/year net + gst
Agents: Caroline McNaught, James Kidd & Laurie Burt

15-17 William Pickering Drive, part unit A:
Features: 228m² office, 3 parking spaces
Rent: leased in September for $60,480/year net + gst, parking $15/space/week, rental excluding parking $58,140/year, premises rental $255/m²
Agents: Tonia Robertson & Laurie Burt

Smales Farm

B-hive, 68-76 Taharoto Rd, level 4, suite 403:
Features: 90m² office suite
Rent: office leased in October for $181,372/m² + gst (B-hive leases are flexible)
Agent: Dean Gilbert-Smith

B-hive, 68-76 Taharoto Rd, level 4, suite 405:
Features: 162m² office suite
Rent: office leased in October for $319,097/m² + gst (B-hive leases are flexible)
Agent: Dean Gilbert-Smith

B-hive, 68-76 Taharoto Rd, level 4, suite 416:
Rent: office leased in October for $165,005/m² + gst (B-hive leases are flexible)
Agent: Dean Gilbert-Smith

Attribution: Agency release.

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2 leases in Rosedale & Takapuna

Bayleys agents on the North Shore have leased a Rosedale industrial & office unit and an office suite in Takapuna.

Leases

North-east

Rosedale

11 Piermark Drive, unit L:
Features: 252m² industrial & office unit – office 193.4m², warehouse 59.1m², 5 parking spaces
Rent: leased in September for $53,840/year net + gst
Agent: Laurie Burt

Takapuna

20 Northcroft St, suite 1:
Features: 65m² office, parking space
Rent: leased in September for $18,340/year net + gst, parking $45/space/week, rent excluding parking $16,000/year, premises rental $246/m²
Agents: Ian Waddams & Caroline McNaught

Earlier story:
23 September 2018: Updated: Sub-5% on 3 properties sold at Bayleys commercial auctions, one further sale in September

Attribution: Agency release.

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3 apartments sell at auction

3 apartments were sold under the hammer at Ray White City Apartments’ auction today, including one at the pre-auction offer price. 4 others were passed in.

CBD

Learning Quarter

MetroCity, 82 Wakefield St, unit 1E:
Features: 38m², one bedroom, storage locker
Outgoings: rates $1149/year including gst; body corp levy $4758/year
Income assessment: $450-470/week furnished
Outcome: sold for $275,000
Agents: May Ma & Mark Li

Columbia, 15 Whitaker Place, unit 9D:
Features: 42m², fully furnished 3 bedrooms
Outgoings: rates $1013/year including gst; body corp levy $6046/year
Income assessment: $570-590/week – out of Iota Management Ltd pool
Outcome: passed in at $246,000
Agents: Mitch Agnew & Ryan Bridgman

Queen St

QVB Farmers, 6 Victoria St East, unit 6D:
Features: 120m², 3-level 3-bedroom loft, 5m-high ceilings, 2 staircases to mezzanine & loft bedrooms, downstairs bedroom & bathroom
Outgoings: rates $2369/year including gst; body corp levy $8146/year
Outcome: no bid
Agent: Ann Bennett

Victoria Quarter

Zest, 72 Nelson St, unit 401: 48m², 2-bedroom corner unit, 2 bathrooms
Outgoings: rates $1168/year including gst; body corp levy $4348/year
Outcome: sold for pre-auction offer of $380,000
Agent: Victor Liu

Isthmus west

Grey Lynn

23A Pollen St, unit 301:
Features: 68m² internal, 9m² balcony, 2 bedrooms, parking space
Outgoings: rates $1960/year including gst; body corp levy $4706/year
Outcome: passed in at $910,000
Agent: Adam Gurr

North-east

Takapuna

Prestige on Pupuke, 73 Anzac St, unit 16:
Features: 154m², 3 bedrooms, 2 bathrooms, study, 2 parking spaces, storage locker
Outgoings: rates $3285/year including gst; body corp levy $7595/year
Outcome: passed in at $1.205 million
Agents: Mitch Agnew & Ryan Bridgman

Spencer on Byron, 9-17 Byron Avenue, unit 1208:
Features: 48m², one bedroom, parking space
Outgoings: rates $5618/year including gst; body corp levy $3501/year
Income assessment: under hotel management
Outcome: sold for $377,000
Agents: Gillian Gibson & James Mairs

Attribution: Auction.

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All 4 commercial properties sell at 2 Colliers auctions

Colliers has sold 4 commercial properties at auction in East Tamaki, Onehunga & Takapuna in the last 2 days.

The East Tamaki warehouse was sold at a sub-4% yield, and the other 3 all had complicated stories to tell.

The Onehunga Mall property (outlined in picture above looking towards the Manukau Harbour) – 2 adjoining buildings with some retail frontage on a side street – has upstairs vacancy and was offered as a prospect for refurbishment or redevelopment.

In Takapuna, the 2 properties on Barrys Point Rd & one on Bracken Avenue were put forward with earnings potential double the present income.

The East Tamaki auction on Tuesday attracted strong bidding. All 3 auctions yesterday were protracted, with multiple bidders but pressure on the vendor to reduce the reserve.

Isthmus east

Onehunga

134-136 Onehunga Mall:
Features: 412m² site, 666m², 2 commercial buildings, both 2-level mixed use, 2 parking spaces, 100m from station, council carpark across sidestreet; neighbouring properties have first-floor apartments
Rent: passing income $87,689/year + gst – under-rented + vacancy
Outcome: sold for $1.46 million + gst at a 6% yield
Agents: Gawan Bakshi & Ned Gow

North-east

Takapuna

42 & 44 Barrys Point Rd:
Features: combined 1159m² site zoned business mixed use, 18m building height limit, adjoining standalone buildings; No 42, 825m² site, 155m² ground floor retail, 33m² basement, 12 parking spaces; No 44, 333m² site, ground floor retail 163m², lower level workroom 77m², lower level storage 77m², 6 parking spaces
Rent: No 42, $54,522/year + gst + opex, based on 182m² lettable building area, including $25/space/week ($5200/year including gst) for 4 parking spaces; No 44, sold vacant, projected rent $55-60,000/year net + gst + opex based on 317m² lettable area
Outcome: sold for $2.77 million + gst
Agents: Ryan de Zwart, Matt Prentice & Shoneet Chand

25 Bracken Avenue:
Features: 828m² site on corner of Burns Avenue zoned residential – terrace house & apartment, 110m² lettable area (house & one-bedroom flat), house converted for use as a GP medical clinic but vacant, 16 (possible 25) parking spaces
Rent: holding income $52,631/year net holding income (plus gst on $33,391 from parking; flat $19,240/year net)
Potential income: holding income $52,631/year, $35,000/year + gst premises rent at $350/m², additional parking 3 spaces at $200/month, 6 spaces at $120/month including gst (total $15,840 – $13,774 + gst); total $101,405/year + applicable gst
Outcome: sold for $2.7 million + gst, putting yield on potential income at 3.76%
Agents: Euan Stratton & Matt Prentice

South

East Tamaki

23-25 Highbrook Drive:
Features: 3923m² site, 2072m² floor area, 3 warehouse & office tenancies, tilt slab building constructed in 2004, 8m warehouse stud
Rent: $248,350/year net + gst
Outcome: sold for $6.3 million + gst, at a 3.94% yield
Agents: Jolyon Thomson, Joshua Franklin & Greg Goldfinch

Attribution: Auctions & agency release.

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2 sales & 8 leases for Shore agents

Bayleys North Shore agents have sold a development site & a new shop in Albany and leased 7 industrial & office units around the Shore plus one in Penrose.

Sales

North-east

Albany

1 William Laurie Place:
Features: 2341m² of vacant business development land
Outcome: sold in September for $2.2 million + gst at $940/m²
Agent: Owen Ding

25 Don McKinnon Drive, unit B3:
Features: 41m² shop built this year, one exclusive parking space + shared
Outcome: sold in September with vacant possession for $591,250 + gst
Agent: Eddie Zhong

Leases

Isthmus east

Penrose

531 Great South Rd, rear warehouse, tenancy 8:
Features: 550m² industrial unit
Rent: leased in September for $66,000/year net + gst, premises rental $120/m²
Agent: Brian Caldwell

North-east

Rosedale

13 Lovell Court, unit B3:
Features: 100m² office unit, 2 parking spaces
Rent: leased in September for $16,000/year net + gst
Agent: Ian Waddams

20 Parkway Drive, unit C:
Features: 172m² industrial unit – warehouse 91m², office 51m², mezzanine 30m², 2 parking spaces
Rent: leased in September for $28,000/year net + gst
Agents: Trevor Duffin & James Kidd

7 Vega Place, unit C:
Features: 114m² industrial unit – warehouse 67m², office 47m², 2 parking spaces
Rent: leased in September for $21,000/year net + gst
Agent: Laurie Burt

Takapuna

41 Taharoto Rd, tenancy E:
Features: 20.6m² office
Rent: leased in September for $7000/year net + gst, premises rental $340/m²
Agent: Caroline McNaught

Wairau Valley

89 Ellice Rd, unit 4B:
Features: 125m² industrial unit, 2 parking spaces
Rent: leased in September for $29,000/year net + gst
Agents: Adam Watton & Adam Curtis

77 Porana Rd, unit 18:
Features: 209.44m² industrial unit – warehouse 137.11m², office 72.33m², 3 parking spaces
Rent: leased in September for $32,000/year net + gst
Agent: Trevor Duffin

128 Sunnybrae Rd:
Features: 404m² industrial unit- warehouse 263m², office 141m², 10 parking spaces
Rent: leased in September for $51,000/year net + gst
Agent: Anna Radkevich

Attribution: Agency release.

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Highgate business park site at Silverdale sells

Published 2 September 2018
A half-hectare lot in the Highgate Business Park at Silverdale has been sold by Bayleys agents for $500/m², one of 2 sales & 3 leases in the agency’s latest report for August.

The newly developed business park lies between Wainui Rd & the Northern Motorway, beside the new Millwater residential subdivision.

A house converted to office on the fringe of Takapuna’s central business area has been sold, and industrial units in Browns Bay & Rosedale plus an office unit in Albany have been leased.

North-east

Sales

Silverdale

Highgate Business Park, lot 11:
Features: 5246m² of land zoned light industrial, fully serviced
Outcome: sold for $2.623 million + gst at $500/m²
Agents: Matt Mimmack & Rosemary Wakeman

Takapuna

3A Burns Avenue:
Features: 727m² site on fringe of Takapuna’s central business area, 110m² office in converted house, 4 parking spaces
Outcome: sold vacant for $2.9 million + gst
Agents: Damian Stephen, Alex Strever, Michael Nees & Bayleys Residential

Leases

Albany

9G Lovell Court:
Features: 60m² ground-floor office, 2 parking spaces
Rent: $16,000/year net + gst, parking $20/space/week, rental excluding parking $13,920, premises rental $232/m²
Agents: David Han & Ian Waddams

Browns Bay

751 Beach Rd, unit C & D:
Features: 190m² refurbished industrial unit divided into 2 separate workspaces – office 25m², yard 165m², 3 parking spaces
Rent: $34,000/year net + gst
Agents: Chris White & Trevor Duffin

Rosedale

9 Tait Place, unit A2:
Features: 108m² air-conditioned warehouse unit, high stud, automatic roller doors, private meeting room, 2 parking spaces
Rent: $28,000/year net + gst
Agents: Terry Kim & Ian Waddams

Attribution: Agency release.

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