Archive | Agency

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

Newmarket

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

North-east

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

Gisborne

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

Napier

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

Waikato

Hamilton

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

Matamata

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.

South

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

Waiuku

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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Henderson adult store & Onehunga warehouse passed in

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

Isthmus east

Onehunga

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

North-west

Henderson

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

Canterbury

Christchurch

Burnside

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

Merivale

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

Papanui

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

Riccarton

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

Rolleston

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

Amberley

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

Kaiapoi

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

Lakes

Frankton

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

Nelson

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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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.

North-west

Whenuapai

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

South

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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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

Napier

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

Horowhenua

Levin

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

Taranaki

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

Wellington

Petone

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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2 old suburban centre retail strips sell

Streetfront retail properties in New Lynn & Papatoetoe – both redevelopment prospects – sold under the hammer at Colliers’ auction today.

North-west

New Lynn

3114-3120 Great North Rd (pictured above):
Features: 486m² site zoned business – metropolitan centre, 307m² single-level strip retail building, 18m street frontage, 4 tenants, 3 leases expire in 2021, 2023 & 2025 with no renewal right, rear parking
Rent: $85,240/year net + gst
Outcome: sold for $1.3 million + gst
Agents: Gareth Fraser, James Appleby & Josh Coburn

South

Papatoetoe

74 St George St, Papatoetoe (outlined).

74 St George St:
Features: 1174m² site zoned business – city centre, allowing for development up to 27m high, 368.5m², land at rear used as shared parking, building fully tenanted
Rent: $101,641/year net + gst
Outcome: sold for $1.95 million + gst
Agents: Gareth Fraser & Matthew Barnes

Attribution: Auction documents.

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Sale St redevelopment sells

A redeveloped building on Sale St (pictured), above Victoria Park, and 2 development properties at Greenlane & in Papakura are the leading sales in Colliers’ latest transactions list.

CBD

Kitchener St

2 Kitchener St, unit 1:
Features: 1026m² retail unit, 3 tenancies
Rent: $223,500/year net + gst
Outcome: sold for $3.5 million + gst at a 6.39% yield
Agents: Adam White, Simon Felton & Gawan Bakshi

Victoria Quarter

Hobson Towers, 26 Hobson St, level 6:
Features: 325m² office floor, 14 parking spaces
Outcome: sold with vacant possession for $2.03 million + gst
Agents: Tony Allsop, Simon Child & Roger Seavill

34 Sale St:
Features: 6317m² redevelopment, 4 office floors, 2 parking levels
Outcome: sold for $63 million + gst at “a yield in the early 5%s”
Agents: Simon Child, Sam Gallaugher & Matt Lamb

Isthmus east

Greenlane

614 & 616 Great South Rd, Greenlane.

614 & 616 Great South Rd:
Features: 3867m² commercial property, net lettable area 2125m² in 2 buildings
Outcome: sold for $11.6 million at a 3.1% yield on holding income
Agents: Gareth Fraser, Simon Child, Josh Coburn & Colliers’ capital markets team

South

Papakura

40-44 East St, lot 2:
Features: vacant 1507m² corner site formerly occupied by the New World Papakura carpark
Outcome: sold for $1.54 million + gst
Agents: Chris Wakim & Matthew Barnes

South of the Bombays

Wellington

Petone

140 Hutt Rd:
Features: 1160m² site, 1020m² warehouse, showroom & office, 10 parking spaces
Outcome: sold with vacant possession for $2.475 million + gst
Agents: Kieran Lennon (Colliers) in joint agency with Gollins Commercial

Taita

1115 High St:
Features: 4818m² development site
Outcome: sold with vacant possession for $1.95 million + gst, with quotes in place for the removal of 1170m² of various structures
Agents: Tim Julian & Janette Lillas

Attribution: Agency release.

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Mairangi Bay sale heads Shore transactions

Bayleys commercial agents on the North Shore have sold a fully tenanted Mairangi Bay site (pictured) which has consent for apartment development, and a Rosedale industrial unit, and have signed 5 leases around the Shore and one for a Karangahape Rd shop.

Sales

North-east

Mairangi Bay

368 Beach Rd:
Features: 836m² site, 644.77m² mixed use building, 6 tenancies, local centre-zoned site has conent for an apartment development
Rent: $210,314/year net + gst
Outcome: sold in October for $4.175 million + gst at $4994/m² land, 4.9% yield with current small vacancy, 5% fully tenanted
Agents: Michael Nees & Dean Gilbert-Smith

Rosedale

BizPark North Shore, 63 Arrenway Drive, unit 2:
Features: 118m² industrial unit – office 50m², warehouse 68m², 2 parking spaces
Outcome: sold vacant in November for $585,000 + gst
Agent: Ian Waddams

Leases

CBD

Uptown

258 Karangahape Rd, shop B:
Features: 130m² shop – retail 110m², warehouse 20m²
Rent: leased in November for $45,000/year net + gst, premises rental $346/m²
Agent: Terry Kim

North-east

Rosedale
156 Bush Rd, unit B:
Features: 229.4m² industrial unit – office 122.9m², warehouse 69.6m², other area 37.4m², 4 parking spaces
Rent: leased in November for $39,000/year net + gst
Agent: James Kidd

23 Canaveral Drive, unit B:
Features: 513m² industrial unit – retail 184.5m², warehouse 300m², other area 28.5m², 8 parking spaces
Rent: leased in November for $87,000/year net + gst
Agent: Matt Mimmack

12 Parkhead Place, unit B:
Features: 545m² industrial unit – warehouse 412m², office 133m², 12 parking spaces
Rent: leased in November for $107,000/year net + gst
Agents: Laurie Burt & Matt Mimmack

Sunnynook

20 Tonkin Drive, shop 2:
Features: 56m² shop
Rent: leased in November for $16,000/year net + gst, premises rental $286/m²
Agent: Dev Choudhury

Wairau Valley

18 Link Drive, unit C:
Features: 500m² retail unit – retail 350m², mezzanine 50m², other area 100m²
Rent: leased in November for $130,000/year net + gst, premises rental $260/m²
Agent: Trevor Duffin

Attribution: Agency release.

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2 sales & 6 leases by Commercial Realty

Commercial Realty Ltd agents have completed 2 sales & 6 leases with values over $50,000 in the last 3 months.

Sales

Isthmus east

Penrose

1016a Great South Rd:
Features: 882m² industrial unit
Outcome: sold for $2.775 million to a nearby owner-occupier
Agents: David Turner & Danny Guise

South

East Tamaki

325 Ti Rakau Drive, unit 5:
Features: 180m² industrial unit, 2 levels, 3 parking spaces
Outcome: sold for $550,000 to an air-conditioning company as owner-occupier
Agents: David Turner & Brad Rathbun

Leases

Isthmus east

Penrose

16 Olive Rd:
Features: 988m² industrial premises, leased to a quickly expanding national tenant
Rent: $110,000/year net + gst
Agents: Willie Fernandes & Danny Guise

North-west

Swanson

212 Swanson Rd, units 1 & 2:
Features: 990m², long-term lease
Rent: $71,000/year net + gst
Agent: Daniel Speck

South

Drury

4 Creek St:
Features: 630m², warehouse plus yard area
Rent: $105,000/year net + gst
Agents: Mark Bramwell & Brad Rathbun

East Tamaki

1E Lady Ruby Drive:
Features: 460m² warehouse & office unit, road frontage
Rent: $65,000/year net + gst
Agent: David Turner

Takanini

12 Marphona Crescent, unit 1:
Features: 365m² industrial unit with road frontage, leased to an overseas company
Rent: $60,000/year net + gst
Agent: Brad Rathbun & David Turner

12 Marphona Crescent, unit 2:
Features: 360m² industrial unit, leased to an international tenant before development completion
Rent: $55,000/year net + gst
Agent: Danny Guise

Attribution: Agency release.

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