Tag Archives | East Tamaki

East Tamaki warehouse sells

Colliers agents have sold an East Tamaki warehouse & offices on a 5.9% yield.

South

East Tamaki

17 Stonedon Drive:
Features: 1960m² site, 1328m² warehouse & 2 levels of offices
Outcome: sold for $2.555 million at a 5.89% yield
Agents: Jolyon Thomson & Jeremy Barnett

Attribution: Agency release.

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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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East Tamaki & Parnell sales on firm yields

Colliers’ East Tamaki office sold a Nandina Avenue warehouse on a 4.6% yield today, and city agents have sold a 2-building property in Parnell at a 5.4% yield.

Isthmus east

Parnell

157-171 Parnell Rd:
Features: 860m² site, net lettable area 1177m², 2 buildings & 2 titles, anchor tenants House of Travel & La Porchetta, 18 parking spaces
Rent: $587,662/year net + gst
Outcome: sold to a family trust for $10.9 million at a 5.39% yield
Agents: David Burley, Peter Herdson & Paul Dyson

South

East Tamaki

4 Nandina Avenue:
Features: 2061m² site, 1141m² warehouse, standalone warehouse, 2 roller doors, secure rear yard, air-conditioned 2-level office & kitchen, seismic rating 100% of new building standard; established tenant Deejays Ltd signed new 7-year lease from January 2017
Rent: $137,000/year + outgoings + gst, rent reviews 2-yearly to market, further rights of renewal
Outcome: sold for $3 million + gst at a 4.6% yield
Agents: Paul Higgins & Jolyon Thomson

Attribution: Agency release.

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Sub-5% on 3 properties sold at Bayleys commercial auctions

4 of the 7 Auckland commercial properties offered at Bayleys’ second Total Property auction of the year on Wednesday sold under the hammer, and another commercial property sold the previous day at an East Tamaki auction. 3 properties were passed in.

3 of the sales were at yields under 5% in strong competition for smaller investments – down at 4.6% for 2 of them, the East Tamaki industrial unit and a superette in Papatoetoe.

Isthmus east

Grafton

20 Huntly Ave:
Features: 801m² site zoned residential – single house, 405m² fully leased dwelling containing 7 individual residential tenancies with their own kitchens & bathrooms
Rent: $191,880/year; single-bedroom units rent for $390-$400/week, 2-bedroom units $550-
$650/week
Outcome: sold for $3.65 million at a 5.26% yield
Agents: Phil Haydock & Damien Bullick

North-east

Orewa

8K Moana Ave:
Features: 85m² retail unit in large retail & office plaza with multiple tenancies fronting central customer parking area, 3-year lease to liquor store from October 2016, 3 3-year rights of renewal
Rent: $30,000/year net + gst
Outcome: sold for $605,000 at a 4.96% yield
Agents: Mustan Bagasra & Matt Lee

Wairau Valley

234 Archers Rd, unit A:
Features: vacant 1146m² light industrial unit, 13 parking spaces
Outcome: passed in at $2.85 million
Agents: Ranjan Unka & Matt Mimmack

North-west

Glen Eden

1 Glendale Rd:
Features: 1511m² corner site with town centre zoning (27m height limit), 680m² retail/showroom building built in 2004, Cash Converters occupies 370m² on 6-year lease to October 2022 with 2 6-year rights of renewal; a Salvation Army family store occupies 309m² on lease to May 2019, with 2 rights of renewals of 2.5 years; 33 parking spaces
Rent: $251,224/year net + gst
Outcome: sold for $3.325 million at a 7.55% yield
Agents: Mike Adams, Jean-Paul Smit & Alan Haydock

New Lynn

2 Hutchinson Ave:
Features: 556m² corner site zoned terrace housing & apartment building, 203m² building occupied by longstanding retail & café tenant
Rent: new lease set at about $80,000/year net
Outcome: passed in at $1.25 million
Agents: Mike Adams & Phil Haydock

South

East Tamaki

21B Andromeda Crescent:
Features: 212m² industrial unit in block of 7, 3-year lease to Mahe Glasstech Ltd
from July 2016 – 104m² warehouse, 73m² office/showroom, 30m² mezzanine, 8m² deck
Rent: $23,000/year net + gst
Outcome: sold for $501,500 at a 4.59% yield
Agent: Nelson Raines

Manurewa

18 Mahia Rd:
Features: 2448m² corner site zoned light industrial, 1606m² building – warehouse 972.6m², office & amenities 385.7m², low-stud workshop 247.9m², seismic ratings 90% for warehouse, 70% for office
Rent: $168,603/year net + gst from longstanding tenant
Outcome: no bid
Agents: Peter Migounoff & Rod Grieve

Papatoetoe

70 St George St:
Features: 326m² site zoned town centre, single-level 120m² retail premises occupied by superette on 2-year lease from November 2016, 4 4-year rights of renewal
Rent: $30,100/year net + gst
Outcome: sold for $655,000 at a 4.6% yield
Agents: Ash Jogia, John Bolton & Dave Stanley

Attribution: Agency release.

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F&P Healthcare signs construction contract for 4th East Tamaki building

Fisher & Paykel Healthcare Ltd said on Monday it had signed a contract for Leighs Construction Ltd to construct the fourth building on its 42ha Auckland campus at Maurice Paykel Place, East Tamaki.

The new building will have a gross floor area of 35,700m² and consist of a mix of research & development, pilot manufacturing and warehousing areas. Groundworks have been substantially completed and construction will start in late January, with an expected operational date of 2020.

2300 employees – over half Fisher & Paykel Healthcare’s global workforce of 4100 – work at the campus’s existing 3 buildings. Supply chain, environment & facilities general manager Jonti Rhodes said the new building would accommodate expected growth until about 2023.

“The blend of R&D, manufacturing & warehousing that we have in our existing buildings gives us a very open working environment and helps us work collaboratively across functional groups. It’s a unique, modern way of working that we are looking forward to developing further in the new building,” he said.

The company has also started a building programme in Tijuana, Mexico, where construction of a second manufacturing facility is underway with an anticipated completion date of late 2018. The company has 950 employees in Tijuana, where it’s been manufacturing in a leased facility since 2010.

The total cost of the building projects in New Zealand & Mexico is expected to be about $200 million.

Fisher & Paykel Healthcare designs, manufactures & markets products & systems for use in respiratory care, acute care, surgery & the treatment of obstructive sleep apnea. The company’s products are sold in over 120 countries.

Attribution: Company release.

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$40 million of commercial & industrial sales

Colliers agents have notched up over $40 million of commercial & industrial sales from Paihia to Paraparaumu in 5 transactions.

The biggest was the sale-&-leaseback deal by Steel & Tube Holdings Ltd of its East Tamaki distribution centre in November, scheduled for completion next week.

One of the 5, a Paihia retail property with 14 tenants, was sold for an undisclosed sum.

North

Paihia

68 Marsden Rd & 9 Williams Rd:
Features: 1139m², 4 buildings on 2 titles separated by Paihia Lane, 14 retail tenancies, average weighted lease term 7.35 years
Rent: $701,000/year net + gst
Outcome: sold, price not disclosed
Agents: Colliers capital markets & site sales team

North-west

Henderson

136-140 Lincoln Rd:
Features: 2709m² development site, the former Lincoln vineyard homestead, mixed-use zoning allows for a range of commercial & intensive residential development
Outcome: sold to an owner-occupier for $4,063,500
Agents: Euan Stratton, Josh Coburn & Craig Smith

South

East Tamaki

103A&B Harris Rd:
Features: total 931m², warehouse & office, high stud clearspan warehousing at rear of both units
Rent: $133,856/year net + gst     
Outcome: sold for $2.34 million + gst at a 5.7% yield
Agents: Jolyon Thomson & Jeremy Barnett

68-80 Stonedon Drive:
Features: 3.64ha site, 18,126m² Steel & Tube Holdings Ltd distribution centre,
Rent: $2,036,087/year net + gst  
Outcome: sold for $32,577,392 at a 6.25% yield in 10-year sale & leaseback (6 years certain), transaction scheduled for completion 20 December
Agents: Greg Goldfinch & Andrew Hooper
Earlier story, 20 November 2017:
East Tamaki property sold as Steel & Tube rings in changes

South of the Bombays

Wellington region

Paraparaumu Beach

345-347 Kapiti Rd:
Features: 1844m² site, 880m² office & retail
Outcome: sold for $2.013 million at a 7.47% yield
Agent: Dean Anderson

Attribution: Agency release.

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Sale & 5 leases

Bayleys agents have completed one Rosedale commercial sale & 5 leases, 4 on the Shore and the other in East Tamaki.

Sale

North-east

Rosedale

4 Antares Place, unit J:
Features: 85m² office, 4 parking spaces
Rent: $26,418.12/year net + gst  
Outcome: sold in November for $460,000 + gst at a 5.47% yield
Agents: Alex Strever & James Yu

Leases

North-east

Albany

210 Dairy Flat Highway, unit 6C:
Features: 90m² retail
Rent: leased in November for $37,000/year net + gst, premises rental $411/m²       
Agent: James Yu

Birkenhead

60-60 Mokoia Rd:
Features: 187m² retail
Rent: leased in October for $50,000/year net + gst, premises rental $267/m²
Agents: Michael Nees & Ildy Meixner

Smales Farm

68-76 Taharoto Rd, B:Hive, level 2, suite 207:
Features: 27m² office
Rent: leased in November for $39,900/year net + gst, premises rental $1478/m²      
Agent: Caroline McNaught

Takapuna

20 Northcroft St, level 1, suite 2:
Features: 27m² office, parking space
Rent: leased in November for $12,080/year net + gst, parking $40/space/week, net excluding parking $10,000/year, premises rental $370/m²
Agents: Caroline McNaught & Dean Gilbert-Smith

South

East Tamaki

8 Bishop Lenihan Place, unit H:
Features: 158m² retail, 7 parking spaces
Rent: leased in September for $37,000/year net + gst
Agents: Terry Kim, David Han & Amy Weng

Attribution: Agency release.

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2 industrial units sell

2 industrial units in Botany & East Tamaki were sold at Bayleys’ East Tamaki auction this week.

South

Botany

302 Te Irirangi Drive, unit 3:
Features: 250m² industrial unit in retail complex with opportunity to convert to commercial, retail or restaurant – 250m² ground-floor workshop, office & amenities, stud height rising from 6.5m to 7.5m, 40m² mezzanine office & storage, 16 parking spaces
Outcome: sold for $1.254 million
Agents: John Bolton & Katie Wu

East Tamaki

29 Neilpark Drive, unit C:
Features: 98m² industrial unit
Outcome: sold for $270,000
Agents: Geoff Wyatt & Nelson Raines

Attribution: Agency release.

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One East Tamaki warehouse unit sells

One East Tamaki warehouse & showroom unit was sold under the hammer at Colliers’ auction today, but 2 adjoining units nearby were passed in.

South

East Tamaki

62G Greenmount Drive:
Features: 286m² net lettable area – office 91m², warehouse 132m², showroom 63m² occupied by Blueprint Diesel Co Ltd, which has lease until January 2023
Rent: $38,507.48/year net + opex + gst
Outcome: sold for $760,000 at a 5.01% yield
Agents: Jeremy Barnett & Jolyon Thomson

103 Harris Rd, units A & B:
Features: 931.26m² net lettable area in heavy industry zone, 2 roadfront tilt-slab units, 4 tenants, 2 rear roller doors, 80% seismic rating
Rent: $133,855.58/year net + gst
Outcome: passed in at $2.2 million, representing a yield of 6.08%
Agents: Jeremy Barnett & Jolyon Thomson

Attribution: Auction.

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