Tag Archives | Rosedale

Live/work unit sells, 4 commercial units leased

A Rosedale live/work unit has been sold and 4 units – 2 industrial, one each of office & retail – leased in the latest round of transactions by Bayleys North Shore agents.

Sale

North-east

Rosedale

9 Lovell Court, unit G:
Features: 121m² – office downstairs, residential upstairs, 4 parking spaces, tenant Duke Le
Rent: $21,840/year net + gst
Outcome: sold in August for $667,000 + gst at a 3.27% yield
Agents: David Han & Ian Waddams

Leases

North-east

Milford

166 Kitchener Rd, suite D & K:
Features: 52m² office, parking space
Rent: leased at the end of July for $13,785/year net + gst, parking space at $25/week (equals $1300/year), rent excluding parking $12,485/year net + gst, premises rental $240/m²
Agent: Ian Waddams

Silverdale

12 Anvil Rd, unit 1:
Features: 274m² industrial unit – warehouse 224m², office 52m², 4 parking spaces
Rent: leased in August for $40,000/year net + gst
Agent: Rosemary Wakeman

Wairau Valley

7 Colway Place, unit A:
Features: 142m² industrial unit, 3 parking spaces
Rent: leased at the end of July for $23,000/year net + gst, warehouse 117m², office 25m²
Agent: Trevor Duffin

North-west

Kelston

1-3 West Coast Rd:
Features: 2m² retail in Chinese medical clinic
Rent: leased at the end of July for $5200/year net + gst, premises rental $2600/m²
Agents: Dev Choudhury & Meng He

Attribution: Agency release.

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One sells at 5%, another at hefty premium in Total Property auction

5 of the 8 properties auctioned in Bayleys’ Total Property 5 auction in Auckland today sold under the hammer, and a sixth sold a couple of hours later at a hefty premium above the last bid.

The auctions for 3 other properties were postponed (but they’re listed below).

Most activity was for a retail unit in an Apollo Drive, Rosedale, development on the North Shore (pictured).

Bidding opened at $750,000, equating to a 6.6% yield, it went on the market at $910,000, equating to 5.4%, and after a series of small raises by 3 bidders it sold for $1000 more than an exact 5% yield – the strongest return of the day.

CBD

Queen St

Mid-City Centre, 239 Queen St, basement unit B:
Features: 600m²,
Rent: $168,000/year net + gst from pool hall operator, 8-year lease from March 2018, rent increases 2%/year
Outcome: auction postponed
Agents: Nicolas Ching & James Chan

Isthmus east

Otahuhu

35B Saleyards Rd:
Features: 994m² site, 426m² floor area, 4 light industrial units, 3 tenants, all on 2-year leases
Rent: $64,774/year net + gst
Outcome: sold for $1.031 million at a 6.3% yield
Agents: Tony Chaudhary & Nelson Raines

Penrose

14 Greenpark Rd:
Features: 1627m² site, 1451m² warehouse, seismic rating 71%, head office for Momotea restaurant group, plus apartment
Rent: $201,141/year net + gst, lease expiring in 2035
Outcome: auction postponed
Agent: Millie Liang

North-east

Rosedale

56 Apollo Drive, unit 6:
Features: 90m² corner café leased to Duck Duck Goose in 13-unit retail development by Kea Property Group
Rent: $49,500/year net + gst + outgoings from 6-year lease + renewals
Outcome: sold for $991,000 at a 4.995% yield
Agents: Laurie Burt & Eddie Zhong

12 Parkhead Place, unit B:
Features: 627.4m², warehouse with 3 roller doors, offices & amenities at both ends, 12 parking spaces
Outcome: sold with vacant possession for $1.945 million
Agents: Matt Mimmack & Laurie Burt

Wairau Valley

Wairau Junction, 160 Wairau Rd, unit 5:
Features: 59m² retail, tenant Spice Cuisine on 10-year lease from 2013
Rent: $25,000/year net + gst
Outcome: sold for $415,000 at a 6% yield
Agents: Matt Lee & Terry Kim

North-west

Te Atatu Peninsula

570 Te Atatu Rd:
Features: 1229m² site, 4 separate shops, rear access
Rent: $85,093/year net + gst
Outcome: auction postponed
Agents: Scott Kirk & James Were

South

Manukau

533 Great South Rd, unit H:
Features: vacant 1020m² standalone light industrial building, offices & amenities, 11 parking spaces
Outcome: no bid
Agents: Alex McNeil & Karl Price

Manurewa

25 Station Rd:
Features: 344m² site, 550m² building area, 4 separate tenancies on 2 floors, B grade seismic rating, roof replaced 2013
Rent: $71,830/year net + gst
Outcome: sold for $1.25 million at a 5.75% yield
Agents: Dave Stanley & Shane Snijder

Papakura

13 Vernon St:
Features: vacant 2071m² business mixed use site, 573m² floor area, high stud workshop across the rear boundary, lower stud shed at roadfront
Outcome: passed in at $1.3 million, sold within 2 hours for $1.75 million
Agents: Piyush Kumar & Peter Migounoff

Pukekohe

30 Franklin Rd:
Features: vacant 1161m² site zoned business mixed use, 827m² floor area, plans for apartment development available
Outcome: no bid
Agents: Shane Snijder, Scott Penney & Virginia Zhou

Attribution: Auction.

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Updated: Queen’s Court & Victoria Residences shops and Rosedale office sell

Published 5 August 2018, updated 6 August 2018:
Small retail spaces in Queen’s Court, opposite the Town Hall, and Victoria Residences, opposite the Sky Tower, and a Rosedale live/work unit have been sold by Bayleys agents (& NAI Harcourts for the Queen’s Court space). A shop in Forrest Hill has been leased.

Sales

CBD

Queen St

Queen’s Court, 368 Queen St, unit 4:
Features: vacant 12m² shop
Outcome: sold in July for $235,000 + gst at $19,583/m²
Agents: Meng He, Steven Liu & Harcourts

Victoria St West

Victoria Residences, 75 Victoria St, unit 5:
Features: 16m² air-conditioned commercial unit with grease traps, extraction fans & 3-phase power, at foot of new apartment block opposite the Sky Tower; 4-year lease to food tenant with rights of renewal until 2026; last of 9 ground-floor food & beverage outlets in the 161-apartment 25-level building to sell
Rent: $65,000/year net + gst
Outcome: sold for $1.25 million at a 5.2% yield
Agent: Millie Liang

North-east

Rosedale

13 Lovell Court, unit B1:
Features: 100m² mixed-use unit with live/work consent, 50m² of showroom/office space downstairs leased to Purpose Investment Ltd until August 2019, self-contained apartment plus deck upstairs, 2 parking spaces
Rent: $13,546/year net + gst
Outcome: sold for $325,000 + gst at a 4.17% yield
Agents: David Han & Ian Waddams

Lease

North-east

Forrest Hill

14-18 Raines Avenue, shop 7:
Features: 56.7m² shop, shared parking
Rent: leased in July for $18,000/year net + gst, premises rental $317/m²
Agent: Dev Choudhury

Attribution: Agency release.

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6 commercial sales

Colliers agents have sold 3 commercial properties around Auckland and another 3 in Tauranga & Paraparaumu.

Isthmus east

St Johns

115 Felton Mathew Avenue, unit 3:
Features: vacant 294m² retail unit – 168m² showroom space, 102m² storage & warehousing
Outcome: sold to a private investor for $1.2 million + gst
Agents: Jeremy Barnett & Charlie Oscroft

North-east

Rosedale

63 Apollo Drive, unit B3:
Features: 571m² office unit
Outcome: sold by a private investor to owner-occupiers Goodwin Turner Commercial Lawyers for $2.7 million + gst
Agents: Janet Marshall & Nick Recordon

South

Airport Oaks

36 Ascot Rd:
Features: 8685m² site, 3680m² medium stud warehouse, offices & amenities,
Outcome: sold with vacant possession to an owner-occupier for $5.8 million
Agents: Brad Johnston, Paul Jarvie, Ash Vincent & Greg Goldfinch

South of the Bombays

Bay of Plenty

Tauranga

Tauriko

52 Whakakake St:
Features: 7752m² site, 4300m² useable space, 2315m² building constructed in 2016, containing high stud workshop, 115m² office; 5-tonne gantry crane, 9 roller doors, fenced concrete yard
Rent: $245,654 + gst on short-term lease
Outcome: sold for $4.225 million + gst at a 5.8% yield
Agents: Rob Schoeser & Simon Clark

Tauranga

100 First Avenue:
Features: 922m² site, 745m² building in 2 tenancies, parking, 3½ years left on lease,
Rent: current rent $140,000/year net + gst + outgoings on lease expiring in 2019
Outcome: sold for $2.4 million + gst at a 5.8% yield
Agents: Duncan Woodhouse & Simon Clark

Wellington

Paraparaumu

10 Manchester St:
Features: 1898m² industrial property, 2 fully tenanted buildings containing 1348m² net lettable area
Outcome: sold to a private syndicate for $2.206 million + gst at a 6.7% yield
Agents: Dean Anderson

Attribution: Agency release.

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3 industrial sales & 4 leases on Shore

Bayleys agents on the North Shore have sold 2 neighbouring industrial premises at Rosedale and another in the Wairau Valley, and leased 4 properties.

North-east

Sales

Rosedale

5 Douglas Alexander Parade, unit B1:
Features: 180m² unit – office 96m², warehouse 84m², 4 parking spaces
Outcome: sold for $600,000
Agents: Alex Strever & James Kidd

7 Douglas Alexander Parade, unit B:
Features: 285m² industrial premises comprehensively upgraded in 2015, used as showroom & office space for the display & sale of bathroom fittings & equipment, 5 parking spaces; new 4-year lease to Bath & Tile (NZ) Ltd, 3 4-year rights of renewal
Rent: $72,000/year net + gst
Outcome: sold for $1.15 million at a 6.62% yield
Agents: Janak Darji, James Kidd & Amy Weng

Wairau Valley

76 Ellice Rd:
Features: 1915m² site, refurbished 1075m² industrial building, seismic assessment 90% new building standard, 21 parking spaces
Rent: new 6-year lease to animal care provider, fixed rental increases of 4% every 2 years, 2 6-year rights of renewal
Outcome: sold for $3.45 million at a 5.36% yield
Agents: Scott Kirk & James Were

Leases

Albany

25 Don McKinnon Drive, unit A1:
Features: 68.4m² retail, shared parking
Rent: leased in July for $47,880/year net + gst, premises rental $700/m²
Agents: Eddie Zhong & Steven Liu

Rosedale

12 Vega Place, unit A:
Features: 223m² industrial unit, office 148m², warehouse 75m², 4 parking spaces
Rent: leased in July for $40,000/year net + gst
Agents: Jane McKee, Laurie Burt & Chris White

Wairau Valley

54 View Rd, PU6:
Features: 122m² industrial unit – warehouse 61m², office 61m², 2 parking spaces
Rent: leased in July for $34,000/year net + gst, parking $20/space/week, net excluding parking $31,920/year, premises rental $262/m²
Agents: Zoran Popovich & Matt Mimmack

54 View Rd, unit PU1:
Features: 122m² industrial unit – warehouse 61m², office 61m², 2 parking spaces
Rent: leased in July for $37,500/year net + gst, parking $20/space/week, net excluding parking $35,420/year, premises rental $290/m²
Agents: Zoran Popovich & Matt Mimmack

Attribution: Agency release.

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Corrected: Commercial sale & 2 leases in Rosedale

Published 27 May 2018, corrected 20 July 2018:
Bayleys commercial agents on the North Shore have reported one sale & 2 leases in Rosedale.

The correction relates to the yield on the units at 100 Bush Rd, originally written as 5.9% instead of the correct 6.59%.

North-east

Rosedale

Sale

Corrected: 100 Bush Rd, units C & D:
Features: 411.9m² office, 15 parking spaces, tenant EDC
Rent: $118,575/year net + gst
Outcome: sold for $1.8 million + gst at a 6.59% yield, premises rental $4370/m² (parking not separately charged) (yield originally written as 5.9%)
Agents: Dean Gilbert-Smith & Laurie Burt

Leases

20 Parkway Drive, unit D:
Features: 153m² industrial unit – warehouse 110m², office 43m², 2 parking spaces
Rent: leased in May for $26,000/year net + gst, premises rental $170/m² (parking not separately charged)
Agent: James Kidd

15-17 William Pickering Drive, part level 1:
Features: 113m² office, 3 parking spaces
Rent: leased in May for $31,155/year net + gst, parking $15/space/week, rental excluding parking $28,815, premises rental $255/m²
Agents: Caroline McNaught, Tonia Robertson, Laurie Burt & Ildy Meixner

Attribution: Agency release.

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Rosedale office unit sells

Colliers North Shore agents have sold an office unit in Ceres Court, Rosedale.

North-east

Rosedale

3 Ceres Court, unit 1B:
Features: 140m² ground-floor office, 7 parking spaces
Outcome: sold with vacant possession for $701,000 + gst at $5007/m²
Agents: Janet Marshall & Kerry Cook

Attribution: Agency release.

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3 commercial leases on Shore

Bayleys agents on the North Shore have signed 3 commercial leases, one this month & 2 in June.

Leases

North-east

Albany

15 Lovell Court, unit 12:
Features: 100m² office, 2 parking spaces
Rent: leased in July for $26,000/year net + gst, premises rental $260/m² (no parking charge)
Agents: David Han & Steven Liu

Rosedale

6 Piermark Drive, part unit C:
Features: 415m² industrial unit – warehouse 235m², office 180m², 6 parking spaces
Rent: leased in July for $60,000/year net + gst, premises rental $145/m² (no parking charge)
Agents: James Yu & Laurie Burt

Wairau Valley

7 Colway Place, unit B:
Features: 165m² industrial unit, 3 parking spaces
Rent: leased in June for $23,500/year net + gst, premises rental $143/m² (no parking charge)
Agent: Trevor Duffin

Attribution: Agency release.

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Updated: 4 sell at 7-property Bayleys commercial auction, 2 more since

Published 28 June 2018, updated 5 July 2018:
4 of the 7 properties left in Bayleys’ Total Property 4 auction on 27 June were sold under the hammer. 2 were passed in on vendor bids and the other attracted no bid.

Update: The industrial building at 9 Tawa Drive, Albany, occupied by Xylem Water Solutions, was pulled from the 27 June auction at the last minute but went to auction on 4 July and was sold after strong bidding.

The property at 5 Oates Rd, Glen Eden, passed in after 2 vendor bids at the 27 June auction, has since been sold.

Top price at the original auction was for a site with maximum visibility in Penrose, on the corner of Walls & Station Rds, and just off Great South Rd (arrowed in photo).

The auction of a Rosedale property, on Arrenway Drive, was postponed.

Isthmus east

Onehunga

2A & 2B Rawhiti Rd:
Features: dairy on unit title at corner of Oranga Avenue
Rent: $17,565/year net + gst
Outcome: sold for $550,000 at 3.2% yield
Agents: Greg Hall & Sunil Bhana

Penrose

2 Walls Rd (arrowed in photo):
Features: 2072m² corner site fronting Walls & Station Rds and adjoining Great South Rd, Allied Work Force Ltd as tenant
Rent: $154,385/year net, 8-year lease term from August 2016, rights of renewal, CPI & market reviews
Outcome: sold for $3.41 million at a 4.53% yield on current rent (review in August)
Agents: Mike Adams & Jean-Paul Smit

North

Kaitaia

27 Matthews Avenue:
Features: vacant 3726m² site in town centre, 1050m² floor area, showroom, warehouse, canopy & office, large secure yard, 27 parking spaces, double street entry
Outcome: no bid
Agents: Steven McNally & Vinni Bhula

North-east

Albany

Updated: 9 Tawa Drive:
Features: 2457m² corner site, 1458m² industrial building – 950m² of medium stud warehousing, 77.5m² parts store, the balance comprising 2 storeys of air-conditioned offices & amenities at the main entrance; tenant Xylem Water Solutions NZ Ltd, in occupation since the building was constructed in 1994, has renewed for 4 years from April with one 4-year right of renewal
Rent: $245,000/year + gst + outgoings
Outcome: pulled from 27 June auction, sold at 4 July auction for $5.38 million at a 4.55% yield
Agents: Matt Mimmack & Laurie Burt

Beachhaven

366 Rangatira Rd:
Features: 202m² corner site occupied by café, 225m² floor area
Rent: potential rent assessed at $76,000/year + gst + opex
Outcome: passed in on sole bid from vendor of $1.3 million
Agents: Paul Dixon, Michael Nees & Ranjan Unka

Rosedale

63 Arrenway Drive, unit 8:
Features: 170m² end unit in new office & warehouse development, 2 exclusive parking spaces
Rent: $30,000/year + gst + outgoings, new 3-year lease from March
Outcome: auction postponed
Agents: Jane McKee & Laurie Burt

North-west

Glen Eden

Updated: 5 Oates Rd, unit 6:
Features: 175m² floor area
Rent: $70,000/year + gst + outgoings from TAB, lease renewed for 6 years from October, 2 3-year rights of renewal
Outcome: passed in after 2 vendor bids at $1.2 million & $1.25 million; sold post-auction for $1.36 million at a 5.15% yield
Agents: Tony Chaudhary, Janak Darji & Katie Wu

New Lynn

3045 Great North Rd, unit 2:
Features: 412m² building – 322m² retail space, balance storage, seismic rating 92%, opposite LynnMall & New Lynn Transport Centre
Rent: $151,178/year net + gst + outgoings, 8-year lease to Beds ‘r Us from June 3%/year rental growth
Outcome: sold for $2.8 million at a 5.4% yield
Agents: Damien Bullick & Mike Adams

South

Burswood

239A Burswood Drive:
Features: 277.5m² floor area, restaurant in Burswood precinct of East Tamaki
Rent: $60,000/year net + gst + outgoings, 6-year lease from March 2017, one 6-year right of renewal left
Outcome: sold for $1.41 million at a 4.26% yield
Agents: Katie Wu, John Bolton & Roy Rudolph

Attribution: Auction.

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3 lease deals signed on Shore

Bayleys agents on the North Shore signed 3 lease deals at the end of June – one industrial, one office, one retail.

Leases

North-east

Birkenhead

25 Enterprise St:
Features: 410m² retail
Rent: leased in June for $76,000/year net + gst, premises rental $185/m²
Agent: Zoran Popovich

Rosedale

59 Paul Matthews Rd, unit 9:
Features: 117m² office, 4 parking spaces
Rent: leased in June for $29,000/year net + gst, parking $20/space/week, rental excluding parking $24,840, premises rental $212/m²
Agents: Caroline McNaught & Alex Strever

Wairau Valley

54 View Rd, ground floor, PU8:
Features: 61m² industrial unit, parking space
Rent: leased in June for $17,000/year net + gst, parking $20/space/week, rental excluding parking $15,960, premises rental $261/m²
Agent: Zoran Popovich

Attribution: Agency release.

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