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Retail sale in Flat Bush, industrials in Papakura & Wiri

Bayleys agents in South Auckland have sold a part-occupied new convenience retail complex (pictured) in Flat Bush, a vacant Papakura industrial site and a truck servicing holding in Wiri.

South

Flat Bush

1 Arranmore Drive:
Features: 1463m² corner site, recently developed part-occupied 491m² convenience retail complex split into 5 tenancies; superette, café & Indian takeaway are returning $119,257/year net + gst
Rent: estimated total rental if fully leased, up to $180,000/year net + gst
Outcome: sold for $2.55 million + gst
Agents: Ben Bayley & Tony Chaudhary

Papakura

14-16 Parker St:
Features: 2.85ha of vacant industrial land, previously the site of an abandoned development project with $1.7 million spent on preconstruction
Outcome: sold for $5 million + gst to an owner occupier in the crane industry at $175/m²
Agents: Shane Snijder & Peter Migounoff

Wiri

6 Tacoma Rd:
Features: Fully fenced 8887m² landholding, modern 1280m² workshop, office & showroom building, only 12% site coverage; used for truck servicing, the high stud workshop has a 22m-long service pit & full drive-through capability plus 8 roller doors; largely sealed yards & concrete forecourts surround the workshop, an additional 4473m² metalled rear yard has washdown facility
Outcome: sold to trucking company with vacant possession for $6.6 million + gst
Agent: Mike Marinkovich

Attribution: Agency release.

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Tauriko building leads Colliers sales

Colliers sold 2 industrial & commercial properties in Nelson and at the Tauriko business estate (pictured) outside Tauranga last week. In Auckland, the agency has sold an office building in Northcote and, in Rosedale, a warehouse & an industrial property with a high office component.

Yields were around 5.2% on 3 of the properties, but below 5% at Tauriko.

North-east

Northcote

5 The Warehouse Way:
Features: 5449m² site, 2795m² office building
Outcome: sold for $19.5 million + gst, at a 5.2% yield
Agents: Josh Coburn, Matt Prentice & Shoneet Chand

Rosedale

44 Arrenway Drive:
Features: 3972m² site, 3715m² warehouse & office
Outcome: sold for $13,117,116 + gst, at a 5.88% yield
Agents: Matt Prentice & Shoneet Chand

13 William Pickering Drive:
Features: 6813m² industrial property, 1933m² floor area – 904m² of offices on ground & first floors, warehouse 984m², dock 45m², 36 parking spaces
Outcome: sold for $11.4 million + gst, at a 5.24% yield
Agents: Shoneet Chand, Matt Prentice & Josh Coburn

South of the Bombays

Bay of Plenty

Tauranga, Tauriko business estate

47 Paerangi Place:
Features: 3988m² site, dual frontage, 2296m² building constructed in 2016, 517m² canopy, 18 parking spaces
Rent: $261,738.75/year net estimated rent from 2 tenants starting 1 November, CPI + 1% annual rent reviews
Outcome: sold at auction last Friday for $5.4 million + gst, at a 4.85% yield
Agents: Simon Clark, Rob Schoeser & Doug Russell

South Island

Nelson

76-82 St Vincent St:
Features: 3826m², 15-year ground lease to service station operator NPD; construction of the self-serve station is underway, with an estimated pump date of late November
Rent: $118,125/year net + gst, 1.75%/year fixed increases
Outcome: sold at auction last Thursday for $2.03 million + gst, at a 5.8% yield
Agents: Sam Staite & Geoff Faulkner

Attribution: Agency release.

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Te Atatu South centre plan scope up for approval

The proposed scope for a Te Atatu South centre plan and the approach to implementing it go to the Henderson-Massey Local Board for approval tomorrow.

The Heart of Te Atatu South Group & its agent, the Isthmus Group Ltd, completed survey work last year, and Auckland Council’s plans & places department has been co-ordinating preparation of the 30-year vision, and will set out a 10-year action plan.

Principal council planner David Hookway said in his report for tomorrow’s meeting that community engagement in November would lead to a plan that the local board would consider in February.

The project arose out of local community concerns expressed in a submission to the council’s 10-year budget & Auckland Plan 2050 consultation in March.

The Auckland unitary plan has nearly doubled the size of the local centre business zoning of the Te Atatu South centre, ringing it with by the residential terrace housing & apartment buildings zone & the residential mixed housing urban zone. “Considerable additional development opportunities have been enabled, reflecting the intention of the Auckland Plan development area for Te Atatu South,” Mr Hookway said.

The Auckland Plan says “access to Te Atatu South will be greatly improved by the completion of the north-western rapid transit corridor. Development in Henderson & the Te Atatu Peninsula is anticipated to encourage development opportunities in this area.” Te Atatu & Edmonton Rds, which meet at the heart of the local business centre, will feed the nearby motorway & rapid transit corridor.

Other council & local board strategies & plans for the area include walkways, trails & parks under the Henderson-Massey open space network plan 2015-25, the Whau walkway plan and the community facilities network plan August 2015.

Links:
Henderson-Massey local board, Tuesday 18 September at 4pm, Henderson Civic Centre, 6 Henderson Valley Rd:
13, Investigation into North-west community provision
Recommendation
North-west community facility provision investigation summary report
14, Te Atatu South local centre plan – project scope and approach
Recommendation
Attachment A – Te Atatu South centre plan area
Attachment B – timeline

Attribution: Local board agenda.

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Roskill South: a small window on a growing regeneration programme

Published & corrected 10 September 2018 – 2 numbers transposed in original version

Housing NZ has completed the first homes in what will be its biggest regeneration project in Auckland, removing 3000 houses gradually in groups and building at least 8400 replacements in Mt Roskill over 10-15 years.

It again involves another Government subsidiary, HLC (2017) Ltd – the former Hobsonville Land Co, now with a wider role – as project manager. HLC is already undertaking that role in Auckland regeneration projects in Mangere & Northcote.

Image above: The Roskill South regeneration area.

It will also align with the KiwiBuild concept of developing communities of mixed ownership – about one-third each of state housing, KiwiBuild homes (state-developed, to become privately owned) & houses sold direct to the market.

Corrected: In Mt Roskill, the targets are 3000 each for new state houses and for the open market, 2400 for KiwiBuild customers. [State & KiwiBuild numbers transposed in original version].

Housing & Urban Development Minister Phil Twyford (pictured), onsite for an inspection yesterday, said the Roskill South segment of the overall Mt Roskill project was also likely to introduce the shared ownership concept, raised by former Roskill MP & housing minister Phil Goff when he campaigned for the Treasury benches in 1984, but rarely used since.

“I’m expecting to have more say on shared equity in a couple of months,” Mr Twyford said.

Auckland mayor Phil Goff.

Mr Goff, now Auckland’s mayor, was at yesterday’s walk-around, which started at a new 3-bedroom house on Freeland Avenue, celebrating completion of the first new homes in Roskill South. His involvement with the neighbourhood goes way back: “I used to play in this street when I was a 6-year-old,” he commented.

The key to the financial success of the regeneration projects is intensification in existing suburbs, in many cases – such as the replacement at 43 Freeland Avenue – providing 4 homes where there was one.

Remodelling the landscape

The second important factor, arising alongside intensification, is the revision of the landscape. What’s known as the Freeland Reserve is there because, when the subdivision was begun decades ago, spaces not conducive to construction were set aside as “drainage reserves”.

In the second stage of the Roskill South regeneration, the covered drain will be “daylighted” and will resume being a stream, regarded as better to deal with stormwater. Auckland Council will lead that task, as it has done at other stream daylighting exercises in various suburbs where new housing development is taking place, and overall project manager HLC will contribute $2.7 million to the upgrade cost.

Modernising the old tram route

The third factor is access. Freeland Avenue winds around the middle of a small, undulating precinct between the maunga (the volcanic mount of Puketapapa – Mt Roskill) in Winstone Park, with the Akarana golfcourse beside it, Richardson Rd at the southern edge of the precinct, and Dominion Rd running from the fringe of the city centre almost all the way to the Manukau Harbour, passing beside this precinct and ending at Waikowhai Park.

Auckland’s first light rail line is planned to run out from the city centre, down Dominion Rd, and continuing on to Auckland Airport at Mangere. It will pass within 300m of most of the housing in the Roskill South regeneration, and also run past the Housing NZ regeneration project which began in Mangere in July, upgrading public transport to big job centres at each end.

Financing rental housing

Mr Twyford briefly mentioned one avenue for financing the increase in rental housing, private sector investment funds. That is about to start happening, assuming the successful launch of the Haven Living fund by Kerry Hitchcock (see separate story to be posted on Wednesday).

Links:
Housing NZ, Auckland housing programmes
Mt Roskill development
Mt Roskill South development
HLC

Related story today:
First homes finished in Roskill South

Related stories, 16 July 2018:
Putting change in context
Robertson outlines focus shift from GDP measure to wellbeing
Demolition starts on Mangere regeneration project
Finance minister calls Productivity Commission in to examine local body funding

Attribution: Site visit, Housing NZ & HLC websites.

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First homes finished in Roskill South

Published 10 September 2018

The Roskill South component of the Mt Roskill regeneration project began a year ago and will see 260 old state houses replaced by about 900 new homes. Housing Minister Phil Twyford caught an update on the project yesterday, on completion of the first new homes.

Image above: Regeneration beside the Freeland Reserve, at the foot of Puketapapa (Mt Roskill).

Housing NZ intends to replace the old state houses with 302 new state houses and 578 houses destined for private ownership over the next 6 years. Some will be sold on the open market and the others categorised as “affordable” and included in the Government’s KiwiBuild programme.

Roskill South stage 1 will see 25 state houses removed (some gone already) and 80 built over the next 2 years on a total 1.3ha. At a land value of about $1200/m² (an HLC guide on costs), section prices can be reduced below $200,000. At $2500/m² for construction, a 160m² house can be built for $400,000. Note: Those are rough & general calculations. Costs & prices will vary across the development, and new laneways will be introduced.

Mr Twyford said of the intensification, that the KiwiBuild programme “will help us build our way out of the housing crisis. Most wash their face through redevelopment of the land. We’re taking advantage of the Housing NZ balance sheet – we’re not expecting to need to use the Government balance sheet.”

In his one reference to the imminent advent of urban development authorities, Mr Twyford said the Auckland authority “is going to be leading up to a dozen state housing projects throughout Auckland”, but housing was only one part of that equation: “We’re planning a system for infrastructure,” he added.

Roskill South stage 2

In the second, 5ha stage of Roskill South, house removal & demolition will start this year, about 90 old state houses will go, and 300 new homes will be built, including 50-60 state houses.

The balance of 240 new homes will be aimed at the open market, including a proportion of cheaper homes.

Overall Mt Roskill project

The Roskill South regeneration area.

The Mt Roskill project is initially targeting Roskill South and the nearby suburb of Owairaka, most famous for its production of world-beating athletes in the 1960s, led by Murray Halberg & trained by Arthur Lydiard. Regeneration in other neighbourhoods is being considered over the 10-15 years of the project.

The area has 3000 state houses spread over 143ha (21/ha), to be replaced by about 10,000 homes at 70/ha. The current plan, according to Mr Twyford, totals 8400 – 2400 state houses, 3000 each of open-market & affordable homes to be marketed.

Under the Auckland housing programme, the Government’s target is to deliver almost 11,000 new state houses and over 12,600 new market homes in Auckland over the next 10 years, including cheaper homes under the Government’s KiwiBuild scheme.

While the focus has been on getting more houses built, and replacing old stock with warmer homes, Roskill MP Michael Wood said it was also about building communities.

That’s one reason for the mix of ownership – retaining a high percentage of rentals, adding first-homebuyers through KiwiBuild and including houses built for the open market.

Mr Wood’s predecessor as local MP, mayor Phil Goff, said Auckland’s current build rate was about 12,850 homes/year, and intensification meant 69% of them would be built in brownfield areas (existing suburbs), not in greenfields: “That means we are doing what we intended. Bring on light rail.”

As for the old drainage reserves, Mr Goff said they’d be transformed: “This [Freeland Reserve beside the new house the minister was being shown] will be a place for the community to congregate, with open streams instead of drains.”

Mr Goff was also pleased the commitment was made to tenants moving out to make way for the redevelopment, to be prioritised as residents of the new-builds, either as tenants or buyers. Gentrification [introducing higher-income residents in more expensive homes] was a concern Mr Twyford expressed when he visited the Mangere regeneration project, and Mr Goff commented: “We don’t want to gentrify.”

Mr Twyford reiterated his concern too: “These big urban development schemes are not simply a turbo-charged gentrification – the last thing we want to do is drive up the price of land and drive people out. We’re going to make sure the people who live in this community are at the head of the list to buy these new homes. People who move out will have the right to move back in.”

4 replacing 1

Housing NZ’s asset development group general manager, Patrick Dougherty, was developing apartments before he moved to the corporation 6 years ago. He said Housing NZ would add 6400 homes over the next 4 years, and planned to increase its portfolio by 16,000 over 10 years.

The intensification is evident in Roskill South. On 12 sections there where houses had been removed, Mr Dougherty said 45 new ones would be built: “And they’ll still have a tree at the back and a private yard.”

Housing NZ hiring overseas

One drawback is the shortage of appropriate construction workers. Mr Dougherty said Housing NZ had 2300 applications in the UK & South Africa when it went looking for development & project managers and quantity surveyors over winter. After interviews in London, 18 of the top 30 had been confirmed and should start arriving next month.

“We’re also recruiting here – 13 joined the asset development group last week.”

Price remains an issue

Mr Twyford addressed the continuing concern that intending to build more homes is fine, but Auckland is an expensive – $1 million-plus – city. In those circumstances, he said a $600,000 new home was “relatively affordable”. But, he added, “We know a $5-600,000 mortgage is not affordable. That’s why we’re introducing shared equity and reforming the rental laws.

“The $650,000 top of the KiwiBuild range is not a target, it’s a maximum. The first KiwiBuild homes at McLennan, Papakura, with 3 bedrooms, are selling for $579,000, way short of that price cap.

“We’re taking land built on in the 1950s-60s, retaining the number of state houses in the community but, through good urban design & modern architecture, we’re building better communities, using the land much more efficiently.”

Links:
Housing NZ, Auckland housing programmes
Mt Roskill development
Mt Roskill South development
HLC

Related story today:
Roskill South: a small window on a growing regeneration programme

Related stories, 16 July 2018:
Putting change in context
Robertson outlines focus shift from GDP measure to wellbeing
Demolition starts on Mangere regeneration project
Finance minister calls Productivity Commission in to examine local body funding

Attribution: Site visit, Housing NZ & HLC websites.

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Tauranga development site & half of Hastings mega centre sold

The developer of the Park Mega Centre in Hastings (pictured above), Advance Properties Group Ltd (Gordon Johnstone & Warren Ladbrook), has sold 4 of the centre’s 8 large format stores for $21 million through Bayleys.

2 years ago they sold the Warehouse property in the centre for $17.5 million.

Briscoes & Rebel Sport are the anchor tenants in the buildings sold this time. The rest of the space in the sale is occupied by The Clearance Shed, Pet Stock & Noel Leeming.

In Tauranga, a site occupied by the vacant Durham Motor Inn, which can be redeveloped up to a height of 49m, has also been sold by Bayleys.

South of the Bombays

Bay of Plenty

Tauranga

 

The vacated Durham Motor Inn in Tauranga (outlined).

60 Harrington St:
Features: 2755m² site with 4 road frontages, 1160m² 20-unit motel complex & 148m² office building; city centre zoning provides redevelopment options with a maximum building height of 49m
Outcome: sold for $8.025 million + gst with vacant possession
Agents: Brendon & Lynn Bradley

Hawke’s Bay

Hastings

536-612 Karamu Rd North:
Features: 9359m² site in Park Mega Centre (plus share of common parking & vehicle access areas), 4 modern bulk retail buildings totalling 7557m² on separate freehold titles; Briscoes/Rebel Sports is the anchor tenant occupying net lettable area of 3848m² on 9-year lease, other occupants are The Clearance Shed on an initial 13-year lease, Pet Stock on 7 years & Noel Leeming on 6 years
Rent: $1,359,100/year net + gst
Outcome: sold for $21 million + gst at a 6.47% yield
Agents: Sunil Bhana, Mike Houlker, Rollo Vavasour & Mark Hourigan

Attribution: Agency release.

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Precinct plans 2 new buildings for Wellington’s Bowen Campus

Precinct Properties NZ Ltd outlined plans today for 21,000m² more office space in 2 new buildings in Wellington, taking the Bowen Campus beside Parliament to 4 buildings.

The company plans 2 new high performance buildings at 40 & 44 Bowen St, beside the Bowen State & Charles Fergusson buildings.

The 4 buildings will have a combined workforce of 5000.

Chief executive Scott Pritchard said today: “We’ve seen fantastic uptake in leasing from government agencies for the Bowen State & Charles Fergusson buildings, which are set for completion in quarter 4 2018 & quarter 3 2019, respectively, and are leased until 2037 & 2033.

Ewan Brown, director at the design firm, Wellington-based architects Tennent Brown, said providing an attractive & lively work environment would have a positive impact on productivity, staff retention & businesses’ ability to attract talent.

“40 and 44 Bowen St have been designed to cater to the demands of the modern workforce. Large, open floorplates allow tenants to tailor their fitouts to their needs and floor-to-ceiling glass, with ceiling heights of 2.95m, maximises natural light & views.”

Mr Pritchard said Precinct had seen demand for flexible workspace increase across its portfolios: “Flexible design allows businesses to quickly adapt & change. We’ve seen growing demand for businesses looking to implement agile working strategies, and we believe the layout for 40 & 44 Bowen St reflects & will accommodate this demand.”

New earthquake protection

He said the design had a number of features to minimise earthquake damage, and these would be the first new-builds in Wellington to employ ‘fluid viscous dampers’ in the structural frame. The dampers dissipate seismic energy to protect the building & fitout and prevent the accumulation of damage over time.

Structural engineers, Dunning Thornton, worked alongside Tennent Brown to deliver this seismic technology, to enable business resilience for the buildings’ tenants.

Dunning Thornton director Alistair Cattanach said: “In addition to resilient steel framing, the viscous dampers will increase the buildings’ performance significantly in a seismic event. The technology applied to these buildings will allow the structures to absorb seismic activity, meaning tenants are able to reoccupy the building shortly after the initial event and continue operating, even during the period of subsequent aftershocks.”

Attribution: Company release.

 

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Chaudhary notches up fuel station sales

Published 9 September 2018
Bayleys Manukau agent Tony Chaudhary & his team of Amy Weng & Janak Darji have scored several service station sales recently, including the new Z at Silverdale (reported in August, repeated here) and another in Henderson, Gull in Otara (pictured) and the Caltex premises in Welcome Bay, Tauranga.

North-east

Silverdale

5 Hibiscus Coast Highway:
Features: 2466m² site beside park & ride bus station, recently completed 228m² 24-hour Z fuel station comprising retail outlet, canopy & forecourt, 4 pump islands servicing up to 8 lanes; initial 18-year lease to Z Energy Ltd
Rent: $314,000/year net + gst
Outcome: sold for $6,281,067 at a 5% yield
Agents: Bill Lissington & Tony Chaudhary

North-west

Henderson

1 Corban Avenue:
Features: 2028m² corner site, new 228m² service station leased to Z Energy Ltd for 21 years from June 2016, annual CPI rental increases, 10-yearly market reviews
Rent: $327,939 /year net + gst
Outcome: sold for $6 million + gst at a 5.47% yield
Agents: Tony Chaudhary, Amy Weng & Janak Darji

South

Otara

263 East Tamaki Rd:
Features: 3075m² site, over 50m of road frontage, 1395m² of structures, Gull fuel station & associated Night ’n Day convenience store on 10-year lease to Gull NZ Ltd until February 2026, with rights of renewal to 2046 & annual CPI rent increases
Rent: $247,173/year net + gst
Outcome: sold for $4.3 million + gst at a 5.75% yield, $1398/m² land price
Agents: Terry Kim, Eddie Zhong & Tony Chaudhary

South of the Bombays

Bay of Plenty

Tauranga, Welcome Bay

248 Welcome Bay Rd:
Features: 1200m² site on main arterial road, occupied by Caltex service station since 1995, current 5-year lease from October 2017 plus one 5-year right of renewal
Rent: $83,925/year net + gst
Outcome: sold for $1.35 million + gst at a 6.22% yield
Agents: Tony Chaudhary & Janak Darji

Attribution: Agency releases.

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Hopetoun Alpha + parking site go on market

Published 7 September 2018
The large site occupied by Hopetoun Alpha on Beresford Square, at the top of the Auckland cbd, has gone on the market with heritage protection on the historic structure.

The 142-year-old building, originally the St James Church, sits on 3114m² at 15-27 Beresford Square and also fronts Hopetoun & Pitt Sts near the intersection of Pitt St & Karangahape Rd. It’s one of New Zealand’s oldest surviving examples of a building constructed of poured concrete.

Bayleys’ Auckland city & fringe commercial team manager, Alan Haydock, said today: “The building has a high level of heritage protection and will remain a permanent feature of the property & the area. However, Hopetoun Alpha is near the top of the eastern side of the sloping site. There is a large amount of land below it, currently used for causal carparking, which would provide a superb residential &/or commercial development opportunity under its city centre zoning.

“It’s one of only a few quality larger sites which remain available for development in the inner city. The property’s unobstructed north-facing corner position means it would offer panoramic harbour & cbd views. Also increasing its development appeal are multiple road frontages & access points.”

Bayleys is taking the property to tender, closing on Wednesday 26 September.

Auckland businessman & philanthropist Ashton Wylie bought the old church in 1994 to restore & preserve it, and the Ashton Wylie Charitable Trust has owned it since he died in 1999. The building has an Historic Places grade 1 rating, and Auckland Council lists it as a category A heritage building.

Mr Haydock said: “This iconic character building has been meticulously refurbished & maintained by the trust and has been rented out to church groups and for one-off events. It is being offered for sale with vacant possession.”

Wilson Parking NZ Ltd has a lease over the undeveloped land until December 2019, with one 2-year right of renewal. It’s generating holding income of $105,000/year + gst. However, a clause in the lease enables it to be terminated if the site is to be redeveloped.

The city centre zoning allows for intensive commercial & residential development up to 35m high, but a volcanic viewshaft restricts development to 27-30m high over part of the site.

Church history

The neo-classical Hopetoun Alpha building was constructed as The Beresford St Congregationalist Church in a Grecian Doric style. 6 fluted columns support the portico at the front entrance. The church has a large hall & gallery, added in the 1880s, & 6 large windows down each side.

Heritage NZ says the building is largely in its original condition and its special features are its classical design & use of concrete construction.

The Congregationalist Independents initially wanted a masonry building, but cost constraints meant a radical new building material was considered. This material was poured concrete, which had previously only been used in Auckland to build 2 houses. The church comprised a framed structure infilled with concrete made of 6 parts of scoria ash & one of Portland cement.

The opening of the church on 19 March 1876, attended by 300 people, was led by Sir George Grey, at the time superintendent of the Auckland Province, who became prime minister the following year.

In 1925, it became the first church to broadcast a service live around New Zealand.

Attribution: Bayleys release.

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First Total Property 6 sales at Rosedale, Taupiri & Te Rapa

Published 7 September 2018
Bayleys has registered the first sales from its Total Property 6 auction campaign – a Rosedale Plaza unit, a former Taupiri candy factory and 2 adjoining sites at Te Rapa.

The 2 Te Rapa sites (pictured above) were sold by different owners to the same buyer at $1151-2/m², and the Rosedale property on a 5.3% yield at an auction brought forward.

The Taupiri factory was sold under the hammer last week.

North-east

Rosedale

Rosedale Plaza, 215 Rosedale Rd, unit 8:
Features: 208m² of retail, mezzanine office & warehouse/storage space, rear roller door access, 4 exclusive parking spaces; 5-year lease from September 2016, plus 2 3-year rights of renewal, to specialist fishing equipment & apparel retailer West Shell
Rent: $45,000/year net + gst
Outcome: sold for $850,000 at a 5.29% yield
Agents: Adam Curtis, Damian Stephen & Adam Watton

South of the Bombays

Waikato

Hamilton

1000 Te Rapa Rd:
Features: 1507m² development site, 430m² of buildings near The Base shopping centre in Hamilton’s fastest growing retail & industrial area, home to fruit & vege business for 30 years
Outcome: sold with vacant possession for $1.735 million
Agents: Mike Swanson & Alex ten Hove

1006 Te Rapa Rd
Features: 1021m² site, 190m² building accommodating an automotive repair business for 35 years; adjoining 1000 Te Rapa Rd and bought by the same buyer
Outcome: sold with vacant possession for $1,176,618
Agents: Mike Swanson & Alex ten Hove

Taupiri

The ex-Candyland factory at Taupiri.

75 Henry Rd:
Features: 1.8ha site, 3720m² industrial complex including about 1200m² of pallet racked coolstores & a large rapid cooler; originally a cheese & dairy factory, expanded in the 1980s and repurposed into the Candyland candy-making factory & tourist attraction
Outcome: sold with vacant possession for $1.05 million
Agents: Mike Swanson & Alex ten Hove

Attribution: Agency release.

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