News

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

  • Several options for closed retirement home

    Several options for closed retirement home

    A recently closed retirement home in Gisborne is for sale with vacant possession offering a purchaser the prospect launching another commercial enterprise or subdividing a 7000 sq m freehold site into a dozen or more sections in one of the city’s most popular residential areas. Karen Raureti, sales manager for Bayleys Gisborne says the property at 17 Albert St will be taken to auction next Friday December 12.

    Date Dec 2014

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  • Napier art deco building has three tenants

    Napier art deco building has three tenants

    The Chisholm Building, an award-winning art deco block of shops that was built following the 1931 Napier earthquake, has been placed on the market in Hawkes Bay offering split risk rental income. The building at 128 Dalton St, Napier, is split into three well established retail tenancies which generate a combined net annual income of $83,052 plus GST.

    Date Dec 2014

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  • Industrial sites in demand in ‘unexplored’ Otara

    Industrial sites in demand in ‘unexplored’ Otara

    Another large warehouse and office complex, fully leased to Trans-Space Doors Limited in Otara, is for sale following a number of recent transactions in the south Auckland suburb which is becoming a popular industrial location. Tim Boyle and Nikolai Vulinovich of CBRE have been appointed sole agents to market the 2118 sq m facility on a freehold 3594 sq m Business 5-zoned site at 12-16 Lovegrove Crescent with expressions of interest sought before Christmas.

    Date Nov 2014

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  • Modern Albany office unit will appeal to investors

    Modern Albany office unit will appeal to investors

    A securely tenanted and well presented office investment property in an easy to find location near Albany Mall is being offered for sale by auction at 11 am next Thursday at the Royal New Zealand Yacht Squadron. It is one of a number of NAI Harcourts properties going up for auction on December 4 - all of which are featured in the agency’s latest Key Assets portfolio publication.

    Date Nov 2014

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  • Rare big industrial ready for new occupier

    Rare big industrial ready for new occupier

    A large East Tamaki landholding and warehouse, which previously housed one of Steel and Tubes divisions, is being offered for sale with vacant possession on a market where similar offerings have become scarce. The property at 18 Cryers Rd is being marketed by Greg Goldfinch and Paul Higgins of Colliers International in conjunction with Shane Snijder and John Bolton of Bayleys, who are offering it for sale by deadline private treaty closing at 4 pm on Thursday December 11 unless it sells earlier by negotiation.

    Date Nov 2014

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  • Luxury lodges cater to rich celebrity clients

    Luxury lodges cater to rich celebrity clients

    Two of New Zealand’s luxury lodges – one charging $10,000 a night and the other having hosted American film stars and a former US president as trout anglers – have been placed on the market for sale. The upmarket tourism destinations of Lake Okareka Lodge near Rotorua, and Tongariro Lodge in the Central North Island, are being sold as business going concerns owned by separate vendors.

    Date Nov 2014

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  • Nine Chances to buy in East Tamaki

    Nine Chances to buy in East Tamaki

    One of the last remaining large blocks of industrial land in East Tamaki is being subdivided with nine lots available for purchase ranging in size from 1308sqm to 7256sqm. The various acquisition options within the 3.412 hectare freehold site at 357 East Tamaki Road are being marketed by Simon Andrews and John Bolton of Bayleys Manukau.

    Date Nov 2014

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  • High profile Christchurch city fringe building

    High profile Christchurch city fringe building

    A Christchurch commercial building tenanted by a business within an industry that is thriving as a result of the earthquakes has been placed on the market for sale. Located at 37 Mandeville Street in the suburb of Riccarton in Christchurch, the commercial building sits on a high-profile site on the fringe of the CBD.

    Date Nov 2014

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  • Gold winner’s Marlborough block could be vineyard

    Gold winner’s Marlborough block could be vineyard

    A former New Zealand Commonwealth Games gold medalist is selling his rural Marlborough lifestyle property located in a leading wine region on the market for sale. The block, located at 3105 State Highway 63, lies 3km west of the Wairau Valley township and 30-40 km west of Blenheim, Randwick and Marlborough Airport. Wairau Valley is one of New Zealand’s premier wine regions, with Marlborough producing 77 per cent of the country’s total wine.

    Date Nov 2014

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  • Top performing Bay of Islands motel

    Top performing Bay of Islands motel

    A high performing motel in Northland’s busiest tourist-town has been placed on the market for sale with the opportunity for a new owner to be running the business over the lucrative-yielding summer season. The Dolphin Motel in central Paihia, Bay of Islands, is a 10 unit accommodation business which has been operating successfully for 22 years under the same owners who are now selling up and retiring.

    Date Nov 2014

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  • Petrol station property pumps profit

    Petrol station property pumps profit

    A significant land holding in a prime position on Ti Rakau Drive in East Tamaki earning returning just over a quarter of a million dollars in annual income from a service station lease will go under the hammer in Bayleys’ final Total Property auction on December 3. Located on a 2121 sq m site at 386 Ti Rakau Drive the freehold property has been occupied by a Gull service station since 2000, with Gull Petroleum (NZ) Limited having a 15 year lease. This is currently producing net annual rental income of $261,183, with built in annual increases to the higher of the Consumer Price Index (CPI) or two per cent.

    Date Nov 2014

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  • Duke Tavern building in big block of historic Russell for sale

    Duke Tavern building in big block of historic Russell for sale

    Four properties comprising much of the commercial heart of historic Russell in the Bay of Islands have been placed on the market with the potential for the development of a new four or five star hotel and function complex. The sale comprises one of the biggest commercial property portfolios in Northland and is featured in Bayleys’ latest Total Property magazine.

    Date Nov 2014

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  • Kumeu development site with holding income

    Kumeu development site with holding income

    A commercially zoned corner site with exposure to around 25,000 vehicles a day at Kumeu, 25 km northwest of Auckland, will go under the hammer early next month. The freehold 2124 sq m property at 338 Main Rd, Kumeu is being marketed by Paul Jarvie and Deborah Dowling of Colliers International and will be auctioned at Thursday, December 11.

    Date Nov 2014

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  • Vacant Wairau Valley industrial is a rarity

    Vacant Wairau Valley industrial is a rarity

    An owner occupier’s pending relocation has opened up a rare opportunity to purchase a medium sized vacant building in the tightly held Wairau industrial precinct on Auckland’s North Shore. Matt Mimmack and Laurie Burt of Bayleys North Shore Commercial are marketing the 2776 sq m industrial building on a sizeable 3811sq m freehold site at 18 Poland Road, opposite a massive Mitre 10 Mega hardware store in the North Shore’s Wairau Valley.

    Date Nov 2014

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  • Howick’s Grasslands looking for buyer to cut a deal

    Howick’s Grasslands looking for buyer to cut a deal

    Howick’s Grasslands Outdoor & Leisure Limited, a long standing retailer of home and garden outdoor equipment like lawn mowers and garden tools, is for sale for an asking price of $305,000 plus stock estimated at $90,000. “This is a very reasonable price for an incoming purchaser because it would easily cost around $350,000 and more to set up a business like this from scratch and it would have no history, cash flow or a recognised brand,” says Richard Ridler of Link Business Broking Ltd of Ellerslie who is seek interested parties to purchase all of the assets of the business as a going concern business.

    Date Nov 2014

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  • Orpheus among two sites that are music to investor ears

    Orpheus among two sites that are music to investor ears

    Two substantial Otahuhu properties with retail shops at ground level and accommodation businesses on the first floor levels above, are two of the larger freehold properties to go under the hammer in Bayleys’ final Total Property commercial and industrial auction for the year. Located in Station Rd and Great South Rd, both properties are earning over $300,000 per annum and have been owned for many years by the one vendor who is selling up to move to Australia.

    Date Nov 2014

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  • Shore buy for entry level commercial investor

    Shore buy for entry level commercial investor

    A multi tenanted investment property with add-value potential located on a busy North Shore feeder road is up for sale as part of Bayleys’ latest Total Property portfolio The property comprises a 1208 sq m freehold site which backs on to a bush reserve at 50 Lake Rd, Northcote, along with two adjoining buildings totalling 751sq m. The property is being marketed by Dean Gilbert-Smith and Simon Aldridge of Bayleys North Shore Commercial as part of Bayleys’ latest Total Property commercial and industrial auction and will go under the hammer on December 3 unless it sells earlier by negotiation.

    Date Nov 2014

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  • Lots of options for buyer of Dominion Rd building

    Lots of options for buyer of Dominion Rd building

    A two-storey commercial building in a high profile corner position on Dominion Road in Mt Eden is among 39 properties in Bayleys’ latest Total Property commercial and industrial portfolio schedule to go up for auction on December 3. Marketed by Millie Liang of Bayleys Auckland, the partially tenanted 944 sq m two-storey building at 660 Dominion Road, Balmoral is on the market for the first time in 20 years.

    Date Nov 2014

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  • Albany unit near mall could suit lawyer

    Albany unit near mall could suit lawyer

    A vacant ground level office unit is for sale adjacent to the North Shore District Court making it ideally suited to an owner occupier in the legal profession. Unit K at 75 Corinthian Drive, Albany, is being marketed by Dave Lane of NAI Harcourts North Shore and go under the hammer on Thursday December 4 at the Royal New Zealand Yacht Squadron, 101 Curran Street, Westhaven.

    Date Nov 2014

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  • Avondale Bunnings store and land for development

    Avondale Bunnings store and land for development

    A big Avondale property with a Bunnings Trade Centre store as the anchor tenant and spare land available for development is being offered for sale by Colliers International. “Investors seeking a secure, long-term lease with one of New Zealand’s most recognisable retail brands in a solid industrial location need look no further,” says agent Jason Seymour who, with colleagues John Green and Greg Goldfinch, is marketing 494A Rosebank Rd for sale by private deadline treaty closing at 4 pm on Wednesday December 10 unless it sells earlier by negotiation.

    Date Nov 2014

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