Latest commercial property sales and leasing

AUCTIONS

Auckland

Where: 383 Parnell Rd, Parnell

Details: A 50m² retail site was sold vacant for $571,000.

Agent: Allan Myers (group auctioneer), Knight Frank South Auckland.

Tauranga

Where: 850 Cameron Rd, Tauranga

Details: Two investment units in a new commercial development opposite Tauranga Hospital have been sold to an investor at low yields, reflecting the location, new buildings and quality tenants and lease terms. Unit 3, occupied by a pharmacy on a new eight-year lease, was sold for $765,000 at a 5.7% yield; while Unit 4, tenanted by a cafe on an eight-year lease, sold for $911,000 at 5.6%.

Agents: Simon Clark and Grant White, Colliers International.

Wellington

Where: 11 Jarden Mile, Ngauranga

Details: Bill Allison bought a 383m² commercial showroom on 670m² in a suburban centre for $1,300,000 on a 7.58% yield.

Agents: Andrew Smith, Fraser Press, Bayleys Capital Commercial

Where: Unit 6, 21 Maida Vale Rd, Roseneath

Details: Internet Services and Management Ltd bought a vacant 120m² commercial office and shop for $198,000.

Agents: Colin Hodge, Matt Gibbs, Bayleys Capital Commercial

Where: 2/4 Glover St, Ngauranga

Details: Glenda Mansfield on behalf of Phil Mansfield Trust and Glenda Mansfield Trust bought a vacant 428m² industrial warehouse with four carparks for $620,000.

Agent: Richard Faisandier, Bayleys Capital Commercial

Where: 9 Toop St, Seaview, Lower Hutt

Details: Adrian Plamer bought a vacant 950m² industrial warehouse on 978m² with two carparks for $792,500.

Agent: Richard Faisandier, Bayleys Capital Commercial

LEASES

Auckland

Where: 99 Franklin Rd, Ponsonby

Details: A 235m² office site was leased for $48,000 plus GST and opex.

Agent: Tania Ogilvie, Knight Frank South Auckland

Tauranga

Where: Tenancy A, 101 Birch Ave

Details: A 214.3m² office and warehouse with six carparks included in rental were leased for three years with rights of renewal for $39,950 a year plus GST.

Agent: Philip Hunt, Ray White Commercial Tauranga

Where: Tenancy D, 101 Birch Avenue, Tauranga

Details: A214.3m² office and warehouse with 12 carparks was leased for five years and three months , with rights of renewal, on a staggered rental from $55,000 to $75,000 a year plus GST.

Agent: Philip Hunt, Ray White Commercial Tauranga

Where: Top Floor, Unit 18, 23 Tukorako Drive, Mount Maunganui

Details: A 90m² upstairs office with two car parks was leased for three years with rights of renewal for $13,5000 a year plus GST.

Agent: Craig Jacobson, Ray White Commercial Tauranga

Where: Unit 20, 60 Parton Road, Papamoa

Details: A 76m² shop with one allocated carpark plus 16 common places was leased for two years with rights of renewal for $12,000 a year with GST.

Agent: Michael McMichael, Ray White Commercial Tauranga

Wellington

Where: 14C Nicolaus St, Upper Hutt

Details: A compact 135m² workshop unit was leased to a private individual for $16,875 plus GST with rights of renewal.

Agent: Euan Mackenzie, NAI Harcourts (Team Hutt Valley)

Where: 2a Islington Street, Upper Hutt

Details: A small 60m² suburban commercial retail premises has been leased to Mirror Mirror Hair Salon Ltd for $9500 plus GST a year.

Agent: Euan Mackenzie, NAI Harcourts (Team Hutt Valley)

Where: 43 George St, Stokes Valley

Details: A generously sized 300m² column free workshop and unsealed yard was leased to CIR Building Services Ltd for $16,445 plus GST.

Agent: Euan Mackenzie, NAI Harcourts (Team Hutt Valley)

Where: 18C Jupiter Grove, Upper Hutt

Details: An extensive compacted yard of 7000m² along with a high-stud steel-clad workshop of 435m² positioned next to SH2 was leased to Linked Earthworks Ltd on a three-year term with multiple rights of renewal.

Agent: Euan Mackenzie, NAI Harcourts (Team Hutt Valley)

Where: Unit 5, 4 Glover Street, Ngauranga

Details: Brian Dennis Dunn leased 471m² net lettable area (office 85m², warehouse 313m², showroom 73m²) industrial warehouse with four carparks for $72,500 a year ($153/m²)

Agent: Fraser Press, Bayleys Capital Commercial

Where: Tawa Junction – Unit 4, 10 Surrey Plce, Tawa

Details: Waterfield Property Holdings Ltd leased a 1287m² 1980s industrial warehouse, which is being split up, to Ace Team Training Ltd for six years, with 2x3 ROR, with three-yearly reviews, for $136,386 a year gross ($106/m²).

Agents: Fraser Press, Jon Pottinger, Bayleys Capital Commercial

Where: 265 Wakefield St

Details: MKR Property Ltd leased 755m² office over two floors plus 15 car parks to Hawkins Group Ltd for six years, with 2x3 ROR for $218,250 a year gross ($235/m²), carpark rental $45 a week, with $5000 naming rights.

Agent: John Pritchard, Bayleys Capital Commercial

Where: Level 1 (part 5c) 5 Courtenay Place, Te Aro

Details: Zomato Media Private Ltd leased 125m² commercial offices for $26,000 a year gross ($208/m²).

Agent: Luke Kershaw, Bayleys Capital Commercial

Where: 38 Victoria St, Petone, Lower Hutt

Details: Lighting Pacific 2011 Ltd leased a 547m² warehouse for $62,500 a year.

Agents: Richard Faisandier, Fraser Press, Bayleys Capital Commercial

Where: Part Level 14, 114 The Terrace

Details: Edison Consulting Ltd leased 84.94m² commercial offices for three years, with 2x3 ROR and three-yearly rent reviews for $30,000 a year plus GST ($353.19/m²).

Agent: Luke Frecklington, Bayleys Capital Commercial

Where: Unit A6, 5 Bouverie St, Petone, Lower Hutt

Details: VWR International leased 65m² commercial offices with two carparks (at $25 a week each) for $15,600 a year gross $200/m²).

Agent: Paul Cudby, Bayleys Capital Commercial

Where: Level 5, 69 The Terrace

Details: NZ Rural General Practice Network subleased 245m² commercial offices to Lateral Security (IT) Services Ltd for 18 months for $49,000 a year gross (discounted straight rental from 4260/m² to $200/m² (head lease). The tenant is to do its own fitout works

Agent: Chris Callear, Bayleys Capital Commercial.

Where: Bridgepoint, 11 Marina View, Unit 2/Level 1

Details: Radiolo Aerospace Ltd leased level 1 commercial offices in a good condition building plus six carparks for five years on a fixed rental with six months lease maturity notification.

Agent: Jon Pottinger, Bayleys Capital Commercial

Where:1st Floor, 22 Ihakara St, Paraparaumu

Details: Ken & Heather Nelson leased 50m² first floor office space to Mainline Publications Ltd for two years, with 3x2 ROR, rent reviews on renewal, for $9300 a year ($186/m²).

Agent: Stephen Lange, Bayleys Capital Commercial

Where: Elevate, Ground Floor, 24 Taranaki St, Te Aro

Details: T Street Holdings Ltd leased a vacant 110m² new build retail/showroom to Wellington Cosmetic Clinic Ltd for 10 years, with 2x5 ROR and annual reviews to CPI, for $10,934 a year ($450/m²).

Agent: Mark Walker, Bayleys Capital Commercial

Where: Ground floor, Unit 4, 22-32 Nevis St, Petone, Lower Hutt

Details: Burns Ferrall Ltd leased a 92.7m² good quality ground floor commercial office with two carparks at $25 a week, for three years for $20,000 gross $187.70/m²).

Agent: Paul Cudby, Bayleys Capital Commercial

Where: 5 Manchester St, Paraparaumu

Details: Nebulite Wellington Ltd leased a 780m² warehouse for $65,000 a year gross.

Agent: Stephen Lange, Bayleys Capital Commercial

Wellington

Where: Unit 3, 180 Kapiti Rd, Paraparaumu

Details: R & M Ltd sold a vacant 160m² two-storey unit title industrial warehouse with two carparks for $240,000.

Agent: Stephen Lange, Bayleys Capital Commercial

Where: 11 Gear St, Petone

Details: Korokoro Family Trust bought a vacant 377m² industrial concrete block warehouse by private treaty for $720,000.

Agent: Fraser Press, Bayleys Capital Commercial

Where: 22 Barnes St, Seaview, Lower Hutt

Details: Fredric Walker bought a 1281m² industrial warehouse with six carparks for $880,000.

Agents: Paul Cudby, Andrew Smith, Bayleys Capital Commercial