News

Bringing you the latest commercial property market news from NZ Herald and TrueCommercial.

  • Little Lush lands biggest bid at auction

    Little Lush lands biggest bid at auction

    The smallest property for sale at Bayley’s first Greater Auckland auction of the year fetched the highest sale price of $3,230,000. The property was one of many across all sectors of the commercial and industrial market that generated strong bidding competition at the auction with 19 properties selling for in excess of $18.3 million.

    Date Mar 2015

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  • Eden Terrace office building could fly higher

    Eden Terrace office building could fly higher

    A large Auckland CBD fringe property in Exmouth Street, Eden Terrace, owned and occupied by Air New Zealand for the past 38 years, is up for sale offering a new owner a variety of future refurbishment or redevelopment options. Located on a 2198 sq m site at 10-12 Exmouth Street, Eden Terrace, the four-level 3852 sq m office building was developed for Air New Zealand in the mid 1970s but is now surplus to requirements and is being offered for sale with vacant possession.

    Date Mar 2015

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  • Odyssey to New Lynn leaves Mt Eden base for sale

    Odyssey to New Lynn leaves Mt Eden base for sale

    Following its purchase of a new community base in New Lynn, national addiction treatment provider Odyssey is selling its Mt Eden based administration office and a leased residential building. “These two well maintained properties, featured in Bayleys’ latest Total Property magazine, could be purchased either individually or separately,” says Mike Adams of Bayleys Auckland, who is marketing them for sale through a tender process closing on April 16.

    Date Mar 2015

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  • Last large Albany greenfield site

    Last large Albany greenfield site

    A big piece of land in Albany’s city centre is being marketed as “the last original greenfields development site” and is for sale along with four smaller nearby development blocks offering developers and investors a wide range of options in this fast expanding area of Auckland’s North Shore. Block A1 of 3.172 hectares zoned for Mixed Use at 98 McClymonts Rd “is the final piece of the estate available” through the original developer, says Bruce Whillans managing director of Ray White Commercial who is marketing the five development properties in conjunction with colleagues Kathy Ying and Blair Chandler. Tenders close on the big Block A1 on April 14.

    Date Mar 2015

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  • Massey University puts huge campus up for sale

    Massey University puts huge campus up for sale

    Massey University is selling its huge 10 hectare Hokowhitu campus in Palmerston North encompassing 20 buildings that include a range of education blocks, halls, administration offices, library, and sporting amenities. “Hokowhitu campus is a small village with social amenities and commercial premises,” says David Bayley, director of Bayleys Real Estate and a member of the agency’s international marketing team.

    Date Mar 2015

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  • Waikato wedding centre seeks proposal

    Waikato wedding centre seeks proposal

    Woodside Estate, a boutique Waikato function venue located about 10 minutes’ drive east of Hamilton and 15 minutes from Cambridge, is for sale complete with its own popular café, restaurant and brewery. “The centre at 132 Woodside Road, Tamahere, specialises in weddings,” says Mike Swanson of Bayleys Hamilton who, with colleague Andrew Shaw, is marketing the freehold property and going concern business for sale through a tender process closing on March 27.

    Date Mar 2015

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  • Repco’s Westgate building needs new driver

    Repco’s Westgate building needs new driver

    A prominent Westgate Town Centre property leased to automotive retailer Repco for the past 15 years offers a number of development options to its purchaser. The freehold 1242 sq m retail site at 1 Cabernet Crescent, Westgate in Auckland is for sale by auction to be held at 11 am on Wednesday March 25, at Colliers International’s 151 Queen Street offices, unless it sells beforehand by negotiation.

    Date Mar 2015

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  • Big hotel chain planning to expand in NZ

    Big hotel chain planning to expand in NZ

    An international hotel group is on the lookout for opportunities in New Zealand as the outlook for the sector remains buoyant. TFE Hotels' group director of marketing, Emma Fraser, said the outlook for the next year remained "healthy and positive" and her group was open-minded about prospects in New Zealand.

    Date Mar 2015

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  • Ponsonby site moving ahead

    Ponsonby site moving ahead

    Construction of Ponsonby's new $220 million Vinegar Lane and Cider Building projects is well under way. A spokeswoman for Countdown supermarkets, which is developing the site, said a drone had been used to photograph work from above.

    Date Mar 2015

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  • 2016 date for start on NDG skyscraper

    2016 date for start on NDG skyscraper

    A spokesman for Chinese developer NDG said plans for the 52-level NDG tower in Auckland's centre were in hand. "Everything is going well and construction will commence according to plan next year," the spokesman said.

    Date Mar 2015

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  • $10m makeover gets under way for Stamford Plaza

    $10m makeover gets under way for Stamford Plaza

    Singaporean management chain Stamford Hotels and Resorts is spending $10 million refurbishing its Auckland property in the hotel's most expensive makeover. Paul Evans, Stamford Plaza Auckland's general manager, said a six-month upgrade saw 120 rooms on the top three floors refurbished. A further 166 rooms are to be refurbished during the next six months.

    Date Mar 2015

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  • Newmarket properties ideal for add value buyers

    Newmarket properties ideal for add value buyers

    Two freehold prime Newmarket commercial properties located 150 metres from the Auckland Domain are being offered for sale individually or together as one parcel and are likely to appeal to investors, owner occupiers and developers. “A Mixed Use zoning, a broad street frontage and being in the Auckland Grammar Zone are features of the properties,” says Cam Paterson of Barfoot & Thompson Commercial who, with colleague David Palmer, is marketing the properties at 9 & 11 Morgan St for sale by tender closing at 4 pm on Thursday, March 25, unless they sell earlier by negotiation.

    Date Mar 2015

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  • Atrium and light star in new building

    Atrium and light star in new building

    Half the available space in Mansons TCLM’s new 20,000 sq m office building at 151Victoria St West in Auckland’s CBD has already been leased well ahead of the building’s scheduled completion and occupation towards the end of this year. A 12-year lease term with a six-year right of renewal has been taken by NZME. (formerly APN NZ) over 8300 sq m of space on three levels of the building.

    Date Mar 2015

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  • Old characters offer new options

    Old characters offer new options

    Two adjoining character buildings are for sale on a prime corner site adjacent to a regenerating area around Sky City and Federal St in Auckland’s central business district. “The buildings at 83 and 85 Albert St are being sold as one parcel,” says sole agent Jonathan Ogg of CBRE who is marketing them for sale by deadline private treaty closing on Thursday March 26, unless they sell earlier by negotiation.

    Date Mar 2015

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  • Albany units likely to be snapped up

    Albany units likely to be snapped up

    Two Albany office units with a long term tenant in the heart of an expanding commercial district on the North Shore will go under the hammer at the beginning of next month. The stratum in freehold titles for units 202 and 203 within the Apollo Tri Centre at 29 Apollo Drive will be sold individually to the highest bidder, says Dave Lane of NAI Harcourts North Shore Commercial who is marketing both properties for sale by auction at 11 am on Wednesday April 1 at the agency’s auction room at 128 Hurstmere Rd, Takapuna.

    Date Mar 2015

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  • Industrial property stars in Christchurch

    Industrial property stars in Christchurch

    While the Christchurch central city rebuild has occupied centre stage in the news media the city’s industrial property sector has been the unsung hero of the market, says Ben Dwan, head of industrial sales and leasing for Colliers International in Christchurch. Dwan predicts that considerable unsatisfied demand will further fuel the sector’s already stellar performance.

    Date Mar 2015

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  • Seaview site ideal for add value development

    Seaview site ideal for add value development

    An outstanding, add-value development site on one of Lower Hutt’s highest profile corner locations is being described as “a property with a twist” by brokers. Tim Julian, Aaron Leech and Rick Stace of Colliers International Wellington are marketing 19-25 Seaview Rd in the industrial precinct of Seaview for sale by deadline private treaty closing at 3 pm next Thursday March 19 unless it sells earlier by negotiation.

    Date Mar 2015

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  • Behemoth year breaks buying record

    Behemoth year breaks buying record

    Last year appears to have broken all records in the institutional commercial property market across New Zealand, says property consultancy JLL announcing the results of the agency’s latest research. “It was an absolute behemoth of a year totalling $5.1 billion for institutional transactions - more than doubling the 2013 figure and the largest total when compared with all other property sector volumes in the New Zealand market,” says Nick Hargreaves, managing director of JLL.

    Date Mar 2015

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  • New homes for students

    New homes for students

    Two high quality student accommodation buildings now under construction in the hub of Auckland’s education precinct are being marketed for sale on behalf of urban lifestyle property developers Tasman Cook. The properties at 5 Whitaker Place and 121 Grafton Road are being sold via an international expression of interest campaign run by JLL and closing on Friday April 24.

    Date Mar 2015

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  • Northland farm has tourism potential

    Northland farm has tourism potential

    A big Northland rural property of over 157 hectares with expansive coastal views and the potential for tourism business ventures is for sale 40 minutes’ drive north of Kerikeri on a sealed road. “This property at 174 Tauranga Bay Rdis close to the famous Whangaroa Bay to the northwest and lends itself to a wide diversity of uses,” says Chris Harding, agency manager at JLL who, with colleagues Anton Ritani and John Binning, is selling it by expressions of interest closing at 4 pm on Thursday April 16.

    Date Mar 2015

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