News

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

  • Double delight Quay Park tower sale

    Double delight Quay Park tower sale

    A twin tower building leased by several international companies in Auckland’s Quay Park waterfront commercial area, is the latest city office complex to come up for sale. NZInvest House, at 32-34 Mahuhu Crescent, comprises two adjoining seven level and six level buildings and is featured in Colliers International’s New Zealand Portfolio magazine to be launched this weekend.

    Date Sep 2014

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  • Idyllic beachfront lifestyle within sight of Sky Tower

    Idyllic beachfront lifestyle within sight of Sky Tower

    Clarks Beach Holiday Park on the southern heads of the Manukau Harbour is being offered for sale as a going concern business, including all the park’s buildings and a leasehold interest in the land, through Mark Prujean of ABC Business Sales for an asking price $1.55 million. Prujean says the holiday park at 226 Torkar Road Extension, Clarks Beach, is set on 2.087 hectares of beautiful waterfront land and is easily accessed along well formed roads about 20 minutes off the State Highway One motorway.

    Date Sep 2014

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  • Papakura law offices for sale with long leaseback

    Papakura law offices for sale with long leaseback

    Two high-quality office buildings in central Papakura, south of Auckland, are being sold and leased back by their long term owner and occupier, a well-known local law firm. Rice Craig, Barristers and Solicitors, which will celebrate its centenary in 10 years’ time, has operated its law practice from the properties at 8 and 10 Queen St, Papakura, for the past 40 years. Featured in Colliers International’s latest New Zealand Portfolio magazine, the office buildings are being marketed by John Davies and Ash Vincent who are selling them by deadline private treaty closing at 4 pm on October 8 unless they sell before that deadline.

    Date Sep 2014

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  • ANZ business centre an Albany landmark

    ANZ business centre an Albany landmark

    A prominent five level commercial building in the rapidly developing Albany City precinct, on Auckland’s North Shore, is being billed as a premium investment backed by strong tenants in a top location. “For investors looking for income security, it doesn’t get much better than this,” says Jason Seymour of Colliers International who, with colleagues Andrew Reed and Shoneet Chand, is selling the property by deadline private treaty closing on Thursday October 9.

    Date Sep 2014

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  • Three Warkworth retail trade properties for sale

    Three Warkworth retail trade properties for sale

    Three retail trade properties in the rapidly expanding Warkworth industrial area north of Auckland are up for sale for the first time since they were completed in 2012. Fully leased to a mix of nine commercial tenants, including well known national and international trade retail brands Resene Paints, Corys Electrical, and Repco, the freehold properties are generating total net annual rent of $335,150 plus GST. Located at 26-50 Morrison Drive, Warkworth, and in three contiguous freehold titles, the entire portfolio includes 8082 sq m of land, 2371 sq m of high-stud warehouse and retail showroom space and 96 parking spaces.

    Date Sep 2014

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  • Eden Business Park ‘sweet spots’ for sale

    Eden Business Park ‘sweet spots’ for sale

    JLL has been formally appointed by Arena Investment Management Limited to run an open marketing campaign to sell its commercial property assets including buildings within the Eden Business Park on the corner of Normanby Rd & Enfield St in Mt Eden in the Auckland city fringe precinct. Managing the divestment process on behalf of Arena are: Nick Hargreaves, managing director of JLL New Zealand, and JLL colleague John Binning; along with Chris Key, head of corporate finance of JLL Australia.

    Date Sep 2014

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  • Ponsonby hole build begins

    Ponsonby hole build begins

    Construction work has started on what was Auckland's biggest construction hole - the controversial Soho in the heart of Ponsonby, renamed by locals Sohole when it was a gaping chasm. Adrian Walker, Progressive Enterprises' property general manager, released four images showing supermarket, office and apartment buildings which will rise on the site between Williamson Ave, Crummer Rd and Pollen St on what was the DYC Vinegar site.

    Date Sep 2014

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  • Office sector leads commercial property returns

    Office sector leads commercial property returns

    Second quarter property index results, released by the Property Council of New Zealand (PCNZ) and Investment Property Databank (IPD), show a total return of 11.1 per cent for the year ending June 2014. The total return comprised 7.7 per cent income return and 3.1 per cent capital growth with the office sector leading the market with a return of 11.9 per cent.

    Date Sep 2014

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  • Sale of Auckland CBD office towers to ease

    Sale of Auckland CBD office towers to ease

    The number of major Auckland office deals can be expected to slow with investment capital moving in a new direction towards the end of this year, says Brent McGregor, senior managing director of CBRE New Zealand “The ever-tighter investment market in Auckland due to the weight of capital, along with the number of office buildings being converted to residential use, is adding stimulus and viability to commercial development, which is good for future investors,” McGregor says. “It is also shifting investor interest toward development and into other major centres including Wellington, which is already the focus of numerous major marketing campaigns.”

    Date Aug 2014

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  • Dominion Rd site among nearly 30 properties for auction

    Dominion Rd site among nearly 30 properties for auction

    A mixed use property which has been in the same family’s ownership for more than half a century and with a strong profile onto main arterial Dominion Rd will be among a large number of properties that will go under the hammer early next month as part of Bayleys’ Greater Auckland portfolio auction. Located at 907-909 Dominion Rd, Mt Roskill, the property encompasses 1606 sq m of freehold land and a mix of interconnecting light industrial, commercial and retail buildings totalling 1913 sq m.

    Date Aug 2014

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  • Chance to create wealth and good source of income

    Chance to create wealth and good source of income

    A big prime development site with resource consent for the construction of two five-storey industrial and commercial blocks is being marketed for sale in Glen Eden. The site of 22,800 sq m at 365 West Coast Rd is approved for a total of 52 factory units with mezzanine floors. This is an excellent West Auckland location and with a lack of commercial property on the market it will be in high demand, says Meir Alfassi, commercial and industrial agent for Harveys Te Atatu Peninsula, who is marketing it for sale by negotiation closing at 5 pm on Tuesday, September 9 unless it sells beforehand.

    Date Aug 2014

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  • High flying Catalina café business on the market

    High flying Catalina café business on the market

    The Hobsonville Development Project is one of the largest mixed-use developments of its kind ever embarked upon in New Zealand. Spanning an area of some 170 ha of former New Zealand Defence Force airbase land, it will encompass 20 km of roading and dwellings for 8000 residents along with schools and other vital infrastructure. The plan has been envisaged as a 10-15 year project with the earthworks and roading work commencing in 2009 and the first house was completed at the end of 2011.

    Date Aug 2014

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  • Northcote retail outlet a real bottler

    Northcote retail outlet a real bottler

    A recently refurbished retail unit with a long lease on a major arterial road on Auckland’s North Shore is among 25 properties that will go up for auction on Wednesday September 10 as part of Bayleys’ latest Greater Auckland commercial and industrial portfolio. “The property is leased to a Bottle-O outlet,” says Simon Aldridge of Bayleys North Shore Commercial who, with colleague Ranjan Unka, is marketing the 320 sq m retail outlet at 46G Northcote Rd in Northcote.

    Date Aug 2014

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  • Much more business land needed to provide jobs

    Much more business land needed to provide jobs

    A significant increase in business land for development is needed so this critically important sector of the economy can expand to provide jobs and support services for Auckland’s growing population, says John Church, national director commercial and industrial, for Bayleys Real Estate. “The greatest demand is for more industrial land,” Church says in Bayleys’ latest Greater Auckland magazine. “Office developments can go upwards and are likely to be adequately catered for in the metropolitan and town centres and CBD zone that will be established under the proposed Auckland Unitary Plan. However, industrial buildings take up much larger chunks of land, not only for the premises themselves but also for the surrounding yard space needed for truck manoeuvring and storage.”

    Date Aug 2014

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  • Auckland Airport's land bank value soars to $2.6b

    Auckland Airport's land bank value soars to $2.6b

    Auckland International Airport's vast Mangere land bank rose in value by $734 million between June 2011 and June 2014. The extensive Auckland waterfront greenfields site, mainly unbuilt, was valued at $1.9 billion but is now assessed as being worth $2.6 billion. That is revealed in the notes to the accounts released with the annual result out yesterday which showed profit from the country's main gateway up 21.3 per cent to $215.9 million on a 6 per cent revenue increase to $475.8 million. Simon Robertson, AIAL's chief financial officer, said the airport owned 1500ha of freehold land and the main driver for the valuation rise was an assessment of the land's worth compared to residential land values.

    Date Aug 2014

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  • Three more building projects for Goodman

    Three more building projects for Goodman

    Goodman (NZ) Limited, the manager of Goodman Property Trust, has announced that the trust is undertaking three new design build projects that will add 28,430 sq m of industrial space to the trust’s investment portfolio and bring to 15 the number of new developments by the trust since early 2013.

    Date Aug 2014

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  • Fletcher in $40m HQ makeover

    Fletcher in $40m HQ makeover

    New Zealand's biggest builder is about to start a $40 million makeover at its own global headquarters, after buying its headquarters back from Tauranga's Carrus Corporation. QV records showed Fletcher sold the 1960s building in 2009 for $36 million but had to pay $6.5 million extra to buy it back only five years later for $42.5 million.

    Date Aug 2014

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  • Investors drawn to Oyster syndication

    Investors drawn to Oyster syndication

    Oyster Group's syndication of the New Zealand Racing Board's head office in Petone, Wellington, has closed fully subscribed, says Oyster's chief executive, Mark Schiele. It is the second proportionate ownership scheme offered by the company in Wellington this year - both projecting 10 per annum pre-tax cash returns paid monthly.

    Date Aug 2014

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  • Restaurant in fast-growing area for sale

    Restaurant in fast-growing area for sale

    The popular Shanghai 1930 restaurant in Flat Bush in southeast Auckland is being offered for sale with all its assets as a going concern business within leased premises at an asking price of $180,000. "This restaurant would certainly rank among the top three high-end venues in Manukau," says Neville Choksi of Link Business Broking Ltd. "It is located in the fast-growing Flat Bush area where the council has plans for 40,000 new residents.

    Date Aug 2014

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  • Seven-in-one retail block adds up to top investment opportunity

    Seven-in-one retail block adds up to top investment opportunity

    A near-new Browns Bay building with six ground-floor retail outlets and a childcare centre on the first floor is for sale, offering an opportunity for a new owner to add value by leasing two vacant tenancies or self-occupy. The 625sq m two-storey building on a 2093sq m corner site at 41 Bute Rd is for sale by tender closing on September 11 unless it sells beforehand as part of Bayleys' latest Greater Auckland portfolio. It is being marketed by Simon Aldridge, Michael Block and Damian Stephen of Bayleys North Shore Commercial.

    Date Aug 2014

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