Archive | Market

Auckland commercial, Waikato retail & southern lifestyle properties sell

Colliers agents have sold 2 Auckland commercial properties in Newmarket & Rothesay Bay, 2 retail investments in Hamilton & Matamata, and 2 lifestyle properties on the outskirts of Gisborne & Napier.

Isthmus east


118 & 120 Carlton Gore Rd:
Features: 706m² combined area of 2 adjacent commercial properties, net lettable area 644m², 2 separate vendors
Outcome: bought by a private investor for $7.365 million
Agents: David Burley & Kris Ongley


Rothesay Bay

595-601 Beach Rd:
Features: zoned neighbourhood centre; 595-599 Beach Rd is on cross-lease, 3/4 share in 678m², 3 tenancies; No 601 is freehold, 224m², currently a vacant yard
Rent: $66,000/year net + gst from cross-leased property
Outcome: sold for $1.28 million, at a 5.15% yield
Agents: Gawan Bakshi, Shoneet Chand & Sean Honeycombe

South of the Bombays


70 Haisman Rd:
Features: 12.65ha rural lifestyle property, 3-bedroom house, 6 paddocks
Outcome: sold post-auction for $1.3 million
Agents: Alan Thorpe & David Egan

Hawke’s Bay


Brookfields, 153 Kings Rd:
Features: 7.89ha lifestyle property with income from an orchard lease, has consent to irrigate
Outcome: sold at auction for $1.75 million
Agent: Duncan McKinnon



11 Willoughby St:
Features: 392.4m² retail unit a corner of Mill St, 2 tenants
Rent: $90,422.20/year net + gst + opex
Outcome: sold for $1.54 million, at a 5.87% yield
Agents: Alan Pracy & Justin Oliver


65-69 Arawa St:
Features: 352m² site, retail block built in 2016, 313m² floor area, 3 tenants
Rent: $93,225/year net + gst + opex
Outcome: sold for $1.68 million, at a 5.54% yield
Agents: Alan Pracy & Justin Oliver

Attribution: Agency release.

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Top 10 holiday park & central Waiuku development site sold

The Top 10 holiday park at Orere Point (pictured), at the top of the Firth of Thames in Auckland’s south-east, has been sold through Bayleys to a buyer who intends to retain it as a holiday park.

In Waiuku, the agency has sold a central development site which has multiple residential leases in place.


Orere Point

2 Orere Point Rd:
Features: established Top 10 holiday park on 5.29ha at Firth of Thames, multitude of sites, permanent caravans & cabins plus communal facilities & owner’s accommodation; maintained to high standard by owner for past 34 years
Outcome: sold as freehold going concern for $2.5 million + gst, Auckland-based buyer intends to continue to operate as holiday park with plans to expand services
Agent: Josh Smith


The Waiuku development site outlined.

24, 28 & 30 Bowen St, 4 & 6 Martyn Place, 9 Court St (outlined):
Features: 6660m² town centre development site in 6 titles, local centre zoning, opposite Mitre 10 & New World stores, multiple residential leases
Outcome: sold for $3.25 million + gst at $492.4/m²
Rent: $78,833/year net (gst inclusive)
Agents: Shane Snijder & Virginia Zhou

Attribution: Agency release.

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Valocity makes Fintech finals in Singapore

Auckland-based mortgage valuation software company Valocity Ltd was one of 5 finalists in the global general category and one of 31 overall global finalists at Fintech in Singapore last week.

Valocity founder Carmen Vicelich.

Valocity (originally called DI Data Vault Ltd) is majority-owned by Aucklanders Carmen & Antony Vicelich, with just under 22% shareholder support from Chris Huljich & his son Peter, mostly through Christopher & Banks entities.

The global awards are part of an awards programme run for the last 3 years by the Monetary Authority of Singapore & the Association of Banks in Singapore to recognise innovative financial technology solutions.

The top 3 global places went to Everspin (South Korea), Naffa Innovations (India) & Keychain (Japan).

The finalists were whittled down from 514 submissions for the global Haccelerator & Fintech awards to a list of 210 in October, and then to the shortlist this week.

Valocity’s pitch was that it’s “transforming the mortgage & valuation process all through one smart platform. It combines the best of technology, data & analytics through a modular cloud-based solution. This enables banks to deliver more seamless, transparent & relevant customer experiences, while at the same time managing risk & regulatory compliance”.

Valocity digitises a bank’s credit policy, automates the valuation process and allows seamless data capture & insights throughout the process. The company says 3 of New Zealand’s 5 largest banks are now using it, transforming the mortgage industry.

The Singapore awards event has a heavy weighting to ASEAN (Association of South-east Asian Nations) businesses, with awards on the first 2 days for ASEAN open & small-medium enterprise categories, plus a section for businesses founded by a Singaporean, followed by the global awards.

The judging panels all comprised experts from public & private sectors, including venture capital, accelerators, consultancies & industry associations, and the entries were evaluated on 4 parameters: impact, practicality, interoperability, and uniqueness & creativity.

One other New Zealand entrant, Wellington-based Eight Wire Ltd, made it to the finals and another 10 New Zealand companies participated in Fintech Week events.

Since Valocity’s platform went live in October 2014, the company has opened offices in Australia & India and has supported almost $400 billion of lending decisions. Its solution supports the growing demand for increased regulatory compliance, in conjunction with improved customer experience for a more seamless & transparent mortgage & valuation process.

Company founder Carmen Vicelich also founded Data Insight Ltd in 2012, with the same ethos of leveraging the power of data, technology & smart people to deliver game-changing value & make the complicated simple.

Before setting up these companies, she was a data solutions manager at QV Online for 6 years and account director at Property IQ Ltd for 4 years.

Unleashing NZ companies at Singapore Fintech Week 2018
12 innovative fintech solutions recognised

Attribution: Valocity, Fintech.

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Studio pushes to new price level in resale as buyers put pressure on other reserves

3 of the 9 apartments auctioned at Ray White City Apartments yesterday – in 96 on Symonds, the Sapphire & Siena Terraces – were sold under the hammer.

Bidding on the studio in 96 on Symonds (pictured above) ended $31,000 above the price the owner paid at auction just 5 months ago. A number of other traders expressed surprise at the $12,056/m² price paid in June, although units smaller than the minimum that can be built these days often command higher price tags for their superior anticipated cashflow. This sale lifts the price/m² to $13,778.

Bidding on 2 units in the leasehold Landings complex beside the old Auckland railway station, and in the Manhattan on Albert St, fell about $20-30,000 short of adjusted reserves yesterday.


Albert St

Manhattan, 105 Albert St, unit 5C:
Features: 80m², 2 bedrooms,
Outgoings: rates $1749/year including gst; body corp levy $5122/year including gst
Income assessment: $560/week, fixed unril 12 December
Outcome: passed in at $571,000
Agents: Ron Yang & Adam Gurr

Learning Quarter

96 on Symonds, 96 Symonds St, unit 1004:
Features: 18m² refurbished studio
Outgoings: rates $975/year including gst; body corp levy $2453/year including gst
Income assessment: $370-390/week
Outcome: bought for $217,000 at auction in June, passed in at $248,000
Agents: Dominic Worthington & Ady Huang

Sapphire, 76 Wakefield St, unit 810:
Features: 53m² + 6m² balcony, 2 bedrooms,
Outgoings: rates $1478/year including gst; body corp levy $4061/year including gst after 10% prompt payment discount
Income assessment: $500/week
Outcome: sold at pre-auction offer of $485,000
Agent: Lucia Gao

Quay Park

The Landings, 8 Ronayne St, unit 810:
Features: 71m², 3 bedrooms, 2 bathrooms, parking space; building has new code compliance certificate after remediation
Outgoings: rates $1633/year including gst; body corp levy $5548/year opex including gst, ground rent $7976/year
Income assessment: $680/week, fixed until March 2019
Outcome: passed in at $270,000
Agents: Dominic Worthington & Ady Huang

The Landings, 10 Ronayne St, unit 415:
Features: 47m² + 8m² balcony, 2 bedrooms, parking space
Outgoings: rates $1323/year including gst; body corp levy $3118/year opex including gst, ground rent $4482/year
Income assessment: $500/week, fixed until August 2019
Outcome: passed in at $204,000
Agents: Mitch Agnew & Ryan Bridgman


SkyView, 7 Scotia Place, unit 8C:
Features: 71m², new 2 bedrooms, parking space
Outgoings: rates $1904/year including gst; estimated body corp levy $4399/year including gst
Income assessment: $750-800/week furnished
Outcome: passed in at $600,000
Agents: May Ma & Mark Li

Bianco off Queen, 2 White St, unit 12B:
Features: 57m², one bedroom, under hotel management, building has remediation issues
Outgoings: rates $6571/year including gst; body corp levy $2216/year opex including gst + special levy $5192
Income assessment: $800/week
Outcome: passed in on sole bid of $60,000
Agents: Ron Yang & Adam Gurr

Victoria Quarter

Altitude, 34 Kingston St, unit 5L:
Features: 27m², one bedroom
Outgoings: rates $1013/year including gst; body corp levy to be confirmed
Income assessment: $340/week
Outcome: passed in at $205,000
Agent: Damian Piggin

Ascent, 149 Nelson St, unit 303:
Features: one bedroom
Outcome: withdrawn from auction
Agent: Damian Piggin

Isthmus west

Grey Lynn

Siena Terraces, 6 Burgoyne St, unit 2N:
Features: 51m², one bedroom, balcony, tandem parking spaces
Outgoings: rates $1321/year including gst; body corp levy $3769/year including gst
Outcome: sold for $490,000
Agents: Judi & Michelle Yurak

Attribution: Auction.

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Henderson adult store & Onehunga warehouse passed in

Both commercial properties auctioned at Barfoot & Thompson yesterday were passed in.

Isthmus east


38 Angle St, unit 1:
Features: vacant 295m² high stud warehouse unit, 4 parking spaces, seismic rating 105% new building standard
Outcome: passed in
Agents: Nick Wilson & James Marshall



253 Lincoln Rd, unit D:
Features: 100m² Peaches & Cream adult shop, seismic rating 100% new building standard
Rent: $36,409/year net + gst + outgoings, leased renewed for 3 years from April, 2 more 3-year renewal rights to 2027
Outcome: no bid
Agent: Chris Park

Attribution: Auction documents.

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11 South Island commercial sales

Bayleys agents have sold 11 commercial properties around the South Island, from Nelson to Queenstown but mostly around Christchurch. They include 2 development sites in Selwyn District Council’s Izone business park and one in the Northfield business park in Papanui (pictured above).

South Island




6E Sir William Pickering Drive:
Features: 141m² modern office unit; 2 tenants, one on 3-year lease, the other on 2-year lease, both with rights of renewal
Rent: $30,100/year net + gst
Outcome: sold for $430,000 at a 7% yield
Agent: George Phillips


Carlton Mews, 21C Bealey Avenue:
Features: 92m² ground-floor retail space, insurance payout to be transferred to buyer on settlement
Outcome: sold for $525,000 with vacant possession
Agent: George Phillips


Northfield business park, 62 Langdons Rd:
Features: 1250m² site, 434m² 2-level office building leased to 3 tenants on 3-, 5- & 6-year terms, 17 parking spaces
Outcome: sold for $2.55 million at a 6.06% yield
Rent: $154,424/year net + gst
Agents: Murray Madgwick & Greg Bevin


245 Blenheim Rd, unit 3:
Features: 239.5m² industrial unit
Outcome: sold with vacant possession for $600,000
Agent: Nick O’Styke


13 George Holmes Rd:
Features: 3001m² business-zoned landholding
Outcome: sold for $500,000 at $167/m²
Agent: Nick O’Styke

Izone business park, 12 Detroit Drive:
Features: 4230m² site
Outcome: sold to a developer for $655,600 at $155/m²
Agents: Stewart & Alex White

Izone business park, 14 John Morten Place:
Features: 2547m² industrial site
Outcome: sold for $446,000 at $175/m²
Agent: Nick O’Styke

North Canterbury


16 & 753 Ashworths Rd:
Features: 24.62ha corner site on State Highway 1, various buildings including a café, rented house, cabin & sheds, plus mini-golfcourse, climbing tower & various other assault course structures
Outcome: sold for $1.3 million
Agents: Stewart White & Chris Frank


170B Williams St:
Features: 102m² retail space, 29m² verandah, seismic assessment 67% of new building standard; AMI Insurance Ltd will vacate the building next April
Rent: $31,360/year net + gst
Outcome: sold for $370,000 at an 8.48% yield
Agents: Stewart & Alex White



150 Glenda Drive:
Features: 400m² industrial site, 150m² 3-bay shed
Outcome: sold vacant for $790,000
Agent: Steven Kirk


203-207 Trafalgar St:
Features: 218mcentral business district site, 400m2 building
Outcome: sold with vacant possession for $905,000
Agent: Doug McKee

Attribution: Agency release.

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Kohi townhouse sells at auction

A large Kohimarama townhouse (pictured), one back from Tamaki Drive, sold at Bayleys’ Remuera branch auction today, but the only bid for a Parnell studio was from the vendor and a unit in the new St Marks apartment block in Remuera attracted no bid.

Isthmus east

Eastern bays – Kohimarama

20A Eltham Rd:
Features: 259m² site, 229m² floor area, 3-level 3-bedroom townhouse, 2 living rooms, 3 bathrooms, 2 parking spaces, balcony, patio, roof garden, self-contained living at entry level giving guests independence
Outgoings: rates $5239/year including gst; no body corp fees
Outcome: sold for $2.715 million
Agents: Gary & Vicki Wallace


258 Parnell Rd, unit 43:
Features: studio, parking space
Outcome: passed in after sole bid from vendor at $550,000
Agent: Trisha Vincent

10 Ruskin St, unit 3C:
Features: 2-level penthouse, 3 bedrooms, 2 bathrooms, balconies, 2 basement parking spaces
Outcome: auction postponed
Agent: Jiali Liu


St Marks, 10 St Marks Rd, unit MAC 101:
Features: 3 bedrooms, 2 bathrooms, 2.9m stud, 2 basement parking spaces
Outcome: no bid
Agents: Karen Spires & Trisha Vincent

Attribution: Auction documents.

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Warehouse sells, new childcare centre passed in

Colliers sold the Bell Tea warehouse at East Tamaki at auction yesterday, but a new childcare centre at Whenuapai was passed in.



1-9 Maramara Rd:
Features: 2200m² site, 575m² purpose-built new building, New Shoots Children’s Centre Ltd, licensed childcare centre for 90 children
Rent: $257,400/year net + gst + opex, 18-year lease term from 13 August 2018, 2 6-year rights of renewal
Outcome: passed in at $4 million
Agents: Josh Coburn, Caroline Cornish & Shoneet Chand


East Tamaki

305 East Tamaki Rd:
Features: 6052m² site, 3992m² warehouse, storage & office building occupied by Bell Tea & Coffee Co Ltd, full drive-around
Rent: $421,402/year net + gst, 7 years remaining on lease renewed in 2013
Outcome: sold for $7.5 million at a 5.6% yield
Agents: Paul Jarvie, Andrew Hooper & Hamish West

Attribution: Auctions.

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Perspective apartment sells post-auction

An apartment in Perspective on College Hill (pictured above) was sold shortly after today’s auction at City Sales. 3 other units – one cross-leased, one on Ngati Whatua leasehold and an apartment in the 2-year-old Urba off Karangahape Rd – were all passed in.


Learning Quarter

Century on Anzac, 100 Anzac Avenue:
Features: 2 bedrooms, 2 bathrooms, parking space
Outcome: auction postponed
Agents: Grant Elliott & Tony Kelly

Quay Park

30 Cotesmore Way:
Features: 115m², 3 bedrooms, 2 bathrooms, deck, tandem garage; code compliance certificate issued in 2015 after complete reclad & roof reconstruction
Outgoings: rates $2195/year including gst; body corp operational levy $3224/year including gst, ground lease $17,500/year, new Ngati Whatua o Orakei Trust ground lease will date from 2 August but hasn’t been agreed yet
Income assessment: $775/week
Outcome: no bid
Agents: Maryanne Wong & Scott Dunn


Urba, 5 Howe St, unit 615:
Features: 42m², one bedroom + flexi-room, deck
Outgoings: rates $1398/year including gst; body corp levy $3933/year including gst
Income assessment: $490/week, fixed until May 2019
Outcome: passed in at $300,000
Agents: Trisha Shanaghan & Gus Argyle

Isthmus west

College Hill

Perspective, 28 College Hill, unit 425:
Features: 140m², 2 bedrooms, 2 bathrooms, deck, 2 parking spaces, storage locker
Outgoings: rates $3123/year including gst; body corp levy $11,040/year including gst
Outcome: passed in at $1.3 million, sold post-auction, price undisclosed
Agent: Scott Dunn

Mt Eden

Grange Hall, 492 Mt Eden Rd, unit 3:
Features: cross-lease, 1/7 share in 1039m², 70m² unit, 2 bedrooms, garage with workspace, offstreet parking
Outgoings: rates $2207/year including gst
Outcome: passed in at $710,000
Agents: Grant Elliott & Tony Kelly

Attribution: Auction.

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7 commercial sales around North Island

Bayleys agents have sold 7 commercial properties around the North Island – in Levin, Napier, New Plymouth, Petone & Upper Hutt.

South of the Bombays

Hawke’s Bay


56 Corunna Bay:
Features: 669m² site zoned suburban industrial, 290m² live/work premises comprising 100m² workshop & office, street frontage, 3-bedroom residence at rear
Outcome: sold vacant for $590,000
Agents: Sam MacDonald & Jack Lee

36 Faraday St:
Features: 1.4518ha development site on Napier Hill with industrial/commercial usage rights; McWilliams Winery manufacturing site for many years, about 7000mof mostly large industrial sheds, some leased & some empty
Outcome: sold for $646,000 to an existing tenant intending to develop the site
Agent: Gary Wise



6 Liverpool St:
Features: 1264m² site, 609m² purpose-built community corrections facility, seismic assessment 100% of new building standard, 11 parking spaces, new 12-year lease to Department of Corrections
Rent: $168,805/year net + gst
Outcome: sold for $2.617 million at a 6.45% yield
Agents: Fraser Press, Stephen Lange & Bede Blatchford


New Plymouth

4 Egmont St, units 6-9:
Features: 2025m² fitness centre in u-shaped cbd retail complex with large central carpark; occupied by City Fitness since 2007 with substantial tenant investment in fitout
Rent: $339,318/year net + gst
Outcome: sold for $3.8 million at an 8.93% yield
Agents: Mike Houlker, Sunil Bhana, Iain Taylor & Alan Johnston

Bell Block

153 & 157 De Havilland Drive, 6-8, 7, 9 & 10 Dakota Place:
Features: 1.7595ha of industrial land in 7 titles, variety of mostly warehouse/workshop buildings
Outcome: sold with vacant possession for $1.575 million
Agents: Iain Taylor & Alan Johnston



20-24 Hautonga St:
Features: 6070m² site, 3000m² high stud warehouse with drivethrough access & dual frontage; fully fenced 2025m² yard
Outcome: sold with vacant possession for $3.915 million
Agent: Richard Faisandier

Upper Hutt

5 Thomas Neal Crescent, lot 32:
Features: 1380m² of industrial land
Outcome: sold for $300,000 at $217/m2
Agents: Christian Taylor & Ethan Hourigan

Attribution: Agency release.

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