Latest commercial property sales and leasing

SALES

Wellsford 

Where: 199-201 Rodney St, 

Details: A retail building on 1540m² site in two titles on SHW1 occupied by a Four Square superette and a Kiwibank/NZ Post shop plus a vacant three-bedroom house sold for $1,270,000 at a 7.2% yield. 

Agents: Damian Stephen, Bayleys North Shore; Tony Chaudhary, Bayleys Manukau

Auckland

Where: 38 Matakana Valley Rd, Matakana

Details: A320m² retail building on 1549m² with 26 carparks sold with vacant possession for $1,050,000. 

Agent: Duncan Napier, Bayleys Warkworth

Where: 99 Centreway Rd , Orewa

Details: A 120m² office building on 1260m² land with numerous car parks sold for $1,135,000 with vacant possession. It is suitable for a wide variety of future uses including medical, offices, childcare centre, residential or total redevelopment subject to consent 

Agent: Terry Kim, Bayleys North Shore

Whangaparaoa Peninsula

Where: 682 Whangaparaoa Rd

Details: Multi-use, split-risk investment with two properties on an 1100m² site sold for $935,000 at an 8.1% yield. To the front, a 280m² building with four separate commercial tenancies; to the rear, 120m² building rented as a residential tenancy.

Agent: Mustan Bagasra, Bayleys Orewa

Auckland

Where: 492-500 New North Rd, Kingsland

Details: 911m² of fully leased buildings on three titles totalling 1558m², sold for $6,575,000 at 6.8% yield. Anchored by Neighbourhood Brew Bar and Shakey Isles Coffee Co café, operated by Pack Group on 10-year leases running until late 2023 and 2022, with two smaller tenancies and billboard. 

Agents: Scott Kirk, Bayleys Auckland, Tony Chaudhary, Bayleys Manukau

Where: 50 Aitken Terrace, Kingsland

Details: A 720m² commercial building, with two levels of high stud character space plus ground level internal carparking for 10 vehicles on elevated 403m² mixed use zoned site sold vacant for $1,925,000. 

Agents: Alan Haydock, James Were, Scott Kirk, Bayleys Auckland 

Where: 1/726 Great South Rd, Penrose

Details: A 413m² industrial unit, with 171m² warehouse, 125m² showroom, 97m² office and 20m² mezzanine, sold vacant for $800,000. 

Agents: Sarah Prebble, James Valintine, Bayleys Auckland

Where: 3/38 Eaglehurst Rd, Ellerslie

Details: A 528m² unit with 289m² warehousing, 174m² office and 65m² mezzanine sold vacant for $815,000. 

Agent: James Valintine, Bayleys Auckland

Where: 201-211 Onehunga Mall, Onehunga

Details: A three-level office commercial building on 837m² has sold for $2,600,000 at a 10.3% yield. The building is occupied by government department Work & Income. 

Agents: Dickie Nam, James Chan, Quinn Ngo, Bayleys Auckland

Where: 100-102 Princes St, Onehunga

Details: 833m² of warehousing on 1067m² sold for $850,000 at a 7.8% yield. There are two tenants, both on two-year leases until late 2015. 

Agents: Mike Marinkovich, Bayleys Manukau 

Where: 58 Princes St, Onehunga

Details: Some 686m² of warehousing on a 674m² site with tenant on three-year term until August 2016 sold for $832,000 at a 7.8% yield. 

Agents: Mike Marinkovich, Bayleys Manukau

Where: Unit 13, 2 Bishop Dunn Place, Botany South

Details: A 125m² commercial unit with two-year lease until June 2015 and 2x2 RoR sold for $370,000 at a 6.5% yield. 

Agents: Tony Chaudhary, Janak Darji, Bayleys Manukau

Where: 7/4 Marekedo Place, Papakura

Details:  An 80m² warehouse sold vacant for $325,000. 

Agent: Peter Migounoff, Piyush Kumar, Bayleys Counties

Where: 6D Doncaster St, Mangere

Details: A vacant 490m² warehouse unit with separate 650m² development site sold for $800,000.

Agents: Damon Wyllie, David Sylvester, Knight Frank South Auckland

Where: 586C Great South Rd, Papatoetoe

Details: 220m² showroom/office unit sold for $457,000 with vacant possession.

Agent: David Wards, Knight Frank South Auckland

Tauranga

Where: Unit 2, 109 Devonport Rd 

Details:A 85.5m² CBD shop with one carpark sold for $565,000 plus GST.

Agents: Philip Hunt, John Whitley, Ray White Commercial Tauranga

Wellington

Where: 106-110 Jackson St, Petone

Details: NZRB sold a 1980s 6290m² six-level office building on 3524m² with six carparks to Oyster Property Group Ltd for $1,012,000on a 9.64% yield.

Agents: Grant Young, Mark Hourigan, Bayleys Capital Commercial

Where: 22-40 Boulcott St, CBD

Details: Cheops Holdings Ltd bought vacant 8113m² commercial offices on 2456m2 by tender for $ 3,700,000.

Agents: James Higgie/Mark Hourigan, Bayleys Capital Commercial

Where: Storage One Wellington, 172 Hutt Rd, Ngauranga

Details: In a liquidation sale, PWC sold 2617m², three floors of storage and childcare facility, a 1960s building with 1990s additions on 1363m² plus six carparks by tender for $1,850,000 on an 11.89% yield.

Agent: Mark Sherlock, Bayleys Capital Commercial

Christchurch

Where: 8 Prairie Pl, Hornby 

Details: A 460m² warehouse with offices on a 3610m² site sold for $1,150,000 with a yield of 8.3%.

Agents: Sam Stone , Terry Connolly, Knight Frank Christchurch

LEASES

Auckland

Where: Unit 2/1, 55 Barry’s Point Road, Takapuna 

Details: 63m² offices with one carpark were leased for $12,750 a year with GST and opex ($200/m²).

Agent: Alex Strever, Bayleys North Shore Commercial

Where: Unit 1C, 89 Ellice Rd, Wairau Valley 

Details: An industrial property (63.2m² offices, 63.2m² showroom, 125.4m² warehouse was leased for $48,000 a year ($191/m²).

Agents: Adam Watton and Trevor Duffin, Bayleys North Shore Commercial

Where: 3 Anzac St, Takapuna

Details: 183m² offices with seven carparks were leased for $60,380 a year plus GST and opex ($210/m²).

Agent: Dean Gilbert-Smith, Bayleys North Shore Commercial

Where: Unit F, 9 Airborne Rd, Albany 

Details: An industrial property (47m² offices, 45m² showroom, 108m² warehouse) with four carparks was leased for $28,000 a year ($140/m²).

Agent: Adam Curtis, Matt Mimmack, Bayleys North Shore Commercial

Where: Part of 1-3 Parkhead Place, Albany 

Details: 448.4m² offices with nine carparks were leased for $85,120 a year plus GST and opex ($190/m²).

Agents: Laurie Burt, Dean Gilbert-Smith, Bayleys North Shore Commercial

Where: Part Building B, 42 Tawa Drive, Albany 

Details: 258m² offices with eight carparks were leased for $73,090 a year with GST and opex ($251/m²).

Agent: Alex Strever, Bayleys North Shore Commercial