Latest commercial property sales and leases
Where: 254 Annex Rd, Middleton
Details: A 247m2 warehouse with 83m2 showroom and 85m2 first floor office was leased for $65,000 plus GST and opex.
Agents: Myles Addington, James Cooney, Knight Frank Christchurch.
Where: Unit 5, 1008 Ferry Rd
Details: Approximately 150m2 was leased
Agent: Elliot Box (CBRE)
Where: 30 Sir William Pickering Drive
Details: 570.87m2 was leased to to MYOB
Agent: Mark Macauley, Elliot Box (CBRE)
Where: 46 Eugenia Rise, Totara Heights, Manukau
Details: A 353m2 retail building, occupied by a superette, takeaway and hairdresser with one vacancy and a 231m2 basement flat on a 1575m2 site sold for $1,023,000. It is producing $51,651 net plus GST a year from three retail tenants with the flat currently returning $23,400 a year.
Agents: Tony Chaudhary, Janak Darji, Bayleys Manukau
Where: 5C Apollo Drive, Mairangi Bay
Details: A 700m2, two-level warehouse/office/showroom has been sold for $1.1 million to a private owner-occupier.
Agents: Ryan de Zwart, Craig Newth, Colliers International
Where: 1 Hibiscus Coast Highway, Whangaparaoa
Details: A 2.433ha landholding over one title has been sold to a private investor for $7.29 million.
Agents: Tim Lichtenstein, Jimmy O¹Brien of Colliers International
Where: 6 Bank St, Birkenhead
Details: An established daycare centre on the North Shore has been sold for $2.052 million representing a 6.14% yield. The centre, trading as Minimee Early Childhood Education Adventure for 50 children, is on a 1176m2 property.
Agents: Shoneet Chand and Mike Ryan, Colliers International
Where: 51 Portside Drive, central Mount Maunganui
Details: A modern industrial building has been sold for $1.515 million. The 1512m2 property was sold vacant, representing a yield of 6.8% on an estimated market rental of $103,000 a year.
Agents: Colliers International¹s Rob Schoeser and Simon Clark
Where: 43 Girven Rd
Details: A fully leased, six-tenant office block near Bayfair Mall has been sold for $1,567,500. The sale returned a 7.96% yield.
Agents: Simon Clark, Rob Schoeser, Colliers International
Where: 221 Fraser St, Fraser Cove
Details: The following tenancies in a modern retail premise have been sold to private investors: Toyworld, 516m2, sold for $1.567 million on a 7% yield; Salon One, 252m2, sold for $984,300on a 7% yield; and Bed, Bath & Beyond, 480m2, sold for $1.360 million on a 7% yield.
Agents: Simon Clark, Duncan Woodhouse, Colliers International
Where: 386 Ti Rakua Drive, East Tamaki
Details: A 2121m22 site occupied by a Gull service station since 2000 sold for $2,820,000 at 9.26% yield. Gull Petroleum (NZ) has a 15-year lease until December 21, 2015 plus 1x4 ROR and subleases the 226m2 retail area. Returning $261,183 net plus GST a year with annual increases to the higher of the CPI or 2%.
Agents: Tony Chaudhary, Bayleys Manukau; Shayne Snijder, Bayleys Counties
Where: 21 Stonedon Drive, East Tamaki
Details: Two industrial units totalling 1041m2 on separate titles on a 1906m2 site with large yard area sold for $1,700,000 at a 6.7% yield. New four-year lease to G&A Adhesives with 1x4 ROR is producing $114,000 net plus GST a year.
Agents: Mark Pittaway, Bayleys Auckland; Tony Chaudhary, Bayleys Manukau
Where: 60a Wharf Rd, Te Atatu Peninsula:
Details: 3392m engineering workshop, warehouse and office building on 7615m² site with 65 carparks and approximately 40% site coverage sold for $4,100,000, at a 7.2% yield. A 10-year lease to Scott Package Handling Systems from October 2014, with 2x5 rights of renewal is returning $293,800 net plus GST a year, with annual CPI reviews, with a minimum increase of 1% and maximum of 3%.
Agents: Sunil Bhana, Mike Houlker, Bayleys Auckland
Where: 102 Neilson St, Onehunga:
Details: 1.43ha contaminated site zoned Business 5 with dual access sold with vacant possession for $4,250,000, at a land value of $297 a square metre. Approximately 5890m2 of older industrial buildings with limited value.
Agent: James Hill, Bayleys Auckland
Where: 453 Great South Rd, Penrose
Details: 1340m2 Business 4 zoned site with 661m2 mixed use building sold with vacant possession for $1,600,000 at a land value of $1194 a square metre.
Agent: Clint Barber, Bayleys Auckland
Where: 551 Great South Rd, Penrose
Details: A 799m22 industrial building on 1685m2 Business 4 zoned site with 25 carparks sold with vacant possession for $1,850,000. It has 385m2 of warehousing and 333m2 of showroom.
Agent: James Hill, Bayleys Auckland
Where: 738-740 Great South Rd, Penrose
Details: 1451m2 kraoke and restaurant building on 752m2 residentially zoned site sold with vacant possession for $1,450,000, at a land value of $1,928 a square metre .
Agents: Millie Liang, James Chan, Bayleys Auckland
Where: 14 Greenpark Rd, Penrose
Details: A 1410m22 warehouse, office and apartment building sold with vacant possession for $1,470,000.
Agent: Millie Liang, Bayleys Auckland
Where: 4c Walls Rd, Penrose:
Details: A 566m2 industrial unit sold with vacant possession for $1,160,00. It has 336m2 of warehousing, 122m2 of offices, 107m2 of showroom and nine carparks.
Agent: James Valintine, James Hill, L Bell, Derek Presland, Bayleys Auckland
Where: Unit A, 20 Hanigan Drive, Mt Wellington
Details: A 350m2 industrial unit with 191m2 of warehousing and 158m2 of office sold with vacant possession for $607,000.
Agent: Sunil Bhana, Julie Prince, Bayleys Auckland
Where: 13 Jarden Mile, NgaurangaDetails: A 1182m2 two-level premises purposebuilt for for longstanding occupant Armourguard in 1998 on 968m2 site; current five-year lease to Armourguard’s parent company, Evergreen International NZ, runs until April 2017, with 1x 5 year right of renewal, with rent $250,132 net plus GST a year sold for $2,900,000 at an 8.62% yield.
Agents: Fraser Press, Mark Hourigan, Bayleys Capital Commercial
Where: 12 Tyers Rd, Ngauranga
Details: A 1304m2 milk distribution facility including a coolstore with new chiller plant and two-level office and amenities block, purposebuilt for Fonterra in 1999, on 2731m2 site with 1000m2 yard; nine-year lease to Fonterra Brands (NZ) Ltd from September 2014 with 1x 6 ROR for $230,000 net plus GST a year, with three-yearly rent reviews to CPI, sold for $2,850,000at an 8.07% yield.
Agents: James Higgie, Mark Hourigan , Bayleys Capital Commercial
Where: 143 Grant Rd, Thorndon
Details: Two workshop areas plus two-bedroomed apartment, a 540m2 building on 458m2 land, sold with business chattels, fixtures and fittings, plant and occupier to an owner-occupier. For $737,000.
Agent: Zair Parkes, Kevin Dee Industrial
Where: 10 Constable St, Newtown
Details: A 154m2 character building with ground floor legal tenant on three-year lease from February 2014 and three-bedroom apartment above, on 194m2 site opposite the library, rent: $24,700 net plus GST a year from commercial tenancy and $26,000 a year gross on six-months residential tenancy, sold for $530,000.
Agent: Mark Walker , Bayleys Capital Commercial