Property Articles

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

  • Heavenly office space for lease

    Heavenly office space for lease

    A high-profile former church building that has been converted into high-quality office accommodation on the Symonds St ridgeline is available for lease, presenting an opportunity for companies looking for central city character space. Leasing agent Phil Haydock of Bayleys' Auckland office says a new occupant has the option of leasing the entire 602sq m building at 116 Symonds St, which comprises 466sq m of ground floor space plus a mezzanine level of 136sq m, or just the ground floor. Naming rights are also on offer.

    Date Nov 2014

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  • Big industrial duo for sale

    Big industrial duo for sale

    Two big Auckland industrial investment properties, both with new leases to long established tenants, are among over 120 commercial and industrial properties featured in Bayleys Real Estate’s final portfolio of commercial and industrial properties for 2014. The larger of the two, a 13,000 sq m steel manufacturing facility located on just over two hectares of land at 21 Beach Rd, Otahuhu is producing current net annual rental income of $953,431 from a new five year lease to Pacific Steel (NZ) Limited. It is being offered for sale by tender through Sunil Bhana, James Hill and Mike Houlker of Bayleys Auckland closing November 27 unless it sells earlier by negotiation.

    Date Nov 2014

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  • Council blocks offer blank canvas to developers

    Council blocks offer blank canvas to developers

    Auckland Council has put two blocks of Manukau land up for sale on four separate titles and with a flexible Business 5 Mixed Use zoning offering a variety of future development options. The council has appointed Dave Stanley and Ben Bayley of Bayleys Manukau office to market the sites totalling 3332 sq m at 182-186 and 194-198 Cavendish Drive.

    Date Nov 2014

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  • Big crowds and low yields feature at auction

    Big crowds and low yields feature at auction

    Ten properties sold at Bayleys’ latest Total Property auction in Auckland fetching a total value of $13.792 million with low yields once again being the order of the day for the most sought after offerings. A large crowd, in attendance for the start of the auction, saw the first property, a 70 sq m century-old retail building on a 366 sq m site at 293-297 Ponsonby Rd, Ponsonby, sell for the highest price of the day of $2,820,000. Bidding started at $1.75 million and it was sold at a 5.3 per cent yield by Cameron Melhuish, Sunil Bhana and James Chan of Bayleys Auckland on behalf of a vendor who had owned it for nearly half a century.

    Date Nov 2014

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  • Architect’s former office offers superb view

    Architect’s former office offers superb view

    A partially tenanted Parnell office building designed and originally occupied by award winning architect Ken Crosson is up for sale in Parnell, offering an opportunity for an owner occupier or an add value investor or developer. Located at 8 Augusta Terrace, the four level 309 sq m building and its 190 sq m site with six ground floor car parks are being offered for sale by James Chan and Matt Lee of Bayleys Auckland.

    Date Nov 2014

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  • Historic CBD building has the X factor

    Historic CBD building has the X factor

    Auckland’s historic former New Art Gallery, now known as X Gallery at 18-26 Wellesley Street on the corner of Lorne Street, Wellesley Street and Khartoum Place, has been put on the market. “The chance to buy this award winning investment property and heritage building should not to be missed,” says John Binning, director of capital markets for JLL, which has been appointed to sell it as sole agent via an expressions of interest campaign closing on Thursday November 27 unless it sells earlier by negotiation.

    Date Nov 2014

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  • Ski field sale offers fun run for new owner

    Ski field sale offers fun run for new owner

    The business, buildings and assets comprising Mt Dobson skifield, in the South Island and situated directly off the main tourist route of State Highway 8 between Christchurch and Queenstown, have been placed on the market. The 400 hectare Mt Dobson ski area is 65 km from Timaru and 25 km west of Fairlie which is the closest township.

    Date Nov 2014

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  • Five house site ideal for high density development

    Five house site ideal for high density development

    Five adjoining residential addresses in an Onehunga street are being offered for sale a single commercial development site suitable for the construction of a high density housing development. The properties at 10, 12, 14, 16 and 18 Wade Avenue, Onehunga, are being sold as one parcel of land by public tenders closing at NAI Harcourts North Shore office at 128 Hurstmere Rd, Takapuna, at 4 pm on Thursday December 4.

    Date Nov 2014

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  • Historic hotel awaits innovative owner and chooks

    Historic hotel awaits innovative owner and chooks

    Northland’s historic Towai Hotel, which commenced providing food, drink and accommodation to weary travellers and local customers around 1872, has been put on the market for sale “This beautifully renovated hotel offers a great lifestyle in the country with room for a large vegetable garden, space to graze a few animals and a big area where chooks could run free,” says Darcy Snowden of Christopher Brown and Associates Auckland, who is selling the property as a freehold going concern business with its land and buildings for an asking price of $475,000 plus GST if any.

    Date Nov 2014

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  • Ideal opportunity to own and earn

    Ideal opportunity to own and earn

    A West Auckland commercial building at 30 The Concourse in a popular industrial area of Henderson is being offered for sale as an excellent split risk investment opportunity. “Opportunities to buy property on The Concourse are few and far between,” says Meir Alfassi of Harveys Te Atatu Peninsula who is selling the property by expressions of interest closing on November 13.

    Date Oct 2014

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  • Car yard can be driven many ways

    Car yard can be driven many ways

    A high profile, strategic corner site on busy Lincoln Rd, Henderson, offers three years of holding income from an established brand-name tenant while a new owner considers multiple development options. “More than 45,000 cars passing by daily is a key feature for any buyer and the options of how investors can ultimately use the property are just as attractive,” says John Davies of Colliers International who, with colleague Dwayne Warby, is offering the 2000 sq m property at 261 Lincoln Rd property for sale by auction on Wednesday November 5 unless it sells earlier by negotiation.

    Date Oct 2014

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  • Manukau tower would crown a portfolio

    Manukau tower would crown a portfolio

    A solid Crown tenant on a nine year lease and a net return of over $1.5 million a year is expected to make an eight level Manukau office a sought-after property for well-heeled investors, syndicators, institutional property companies and large family trusts. “This property at 5 Osterley Way has been tenanted by government departments since it was built in 1979 by Fletcher Construction,” says Paddy Callesen, Savills joint managing director who is featuring it for sale with Kevin Richards, the agency’s senior executive, capital transactions.

    Date Oct 2014

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  • Offices now leasing at Westgate centre

    Offices now leasing at Westgate centre

    Office leases are now being offered in buildings within the new Westgate Town Centre which is now under construction and due to open in October next year. “The spaces for lease are on Level One of the new DNZ Westgate Main Street within a significant mixed-use development owned by the DNZ Property Fund,” says Chris Palmer of Colliers International’s Auckland office leasing team who is marketing the leases with colleague Michael van der Putten.

    Date Oct 2014

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  • Orewa beachfront retail and office block

    Orewa beachfront retail and office block

    A tenanted beachfront block of shops and offices in Orewa directly across the road from the seaside town’s main beach is featured for sale in Barfoot & Thompson Commercial’s latest 60 page Insite portfolio publication. “The property is also on an arterial highway and has a strategic corner position,” says Barry Masefield of Barfoot & Thompson Whangaparaoa who, with colleague Graeme Perigo, is marketing 316 Hibiscus Coast Highway for sale by auction on November 13.

    Date Oct 2014

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  • Silverdale industrial land consented for business park

    Silverdale industrial land consented for business park

    A 1.3 hectare parcel of undeveloped industrial zoned land at Silverdale less than two kilometres from the State Highway One motorway interchange is up for sale. Ranjan Unka and Rosemary Wakeman of Bayleys North Shore Commercial are marketing the site at 2181 East Coast Road via a tender campaign closing on November 6.

    Date Oct 2014

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  • CBD tower could be hotel or apartments

    CBD tower could be hotel or apartments

    JLL has been appointed by AQM Limited to sell 15 office levels in the distinctive 19 level reflective blue glazed tower building at 396 Queen St, Auckland. The building is ideal for renovation into an upmarket hotel, apartments or an educational facility, says John Binning, JLL’s director of capital markets who is marketing it for sale by expressions of interest closing on Thursday November 27 unless it sells beforehand by negotiation.

    Date Oct 2014

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  • Clutch of Nelson agribusinesses on market

    Clutch of Nelson agribusinesses on market

    A cluster of income-producing agricultural and viticulture land holdings in the Nelson region have come onto the market simultaneously with the intention of having new owners in place in time to capitalise on the various 2015 harvest seasons. Two high profile wineries, a large scale hop growing and processing operation, and an apple and kiwifruit orchard and packhouse are all up for sale across the region – each for different reasons.

    Date Oct 2014

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  • Idyllic Coromandel lodge sale and leaseback

    Idyllic Coromandel lodge sale and leaseback

    The owners and operators of Pacific Harbour Lodge on the east coast of the Coromandal Peninusla at Tairua want to sell the land and buildings as a tourism investment asset and negotiate a 30 year lease with the new owners so they can continue running it. The profitable business could also be part of the sale if a buyer was interested in purchasing it with the property as a complete going concern operation, says Tom Crawford, a broker with Tourism Properties who is marketing the land and buildings for sale at 223 Main Rd, Tairua.

    Date Oct 2014

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  • Cider to be apple of Ponsonby eyes

    Cider to be apple of Ponsonby eyes

    Premium space within the Cider building, now under construction on a site adjoining the Vinegar Lane precinct of Ponsonby, is being marketed for lease. Worked commenced on the site at 4 Williamson Avenue earlier this month and the estimated completion date is the second quarter of 2016.

    Date Oct 2014

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  • Floor in distinctive Parnell Rd building for lease

    Floor in distinctive Parnell Rd building for lease

    The entire first floor of a distinctive white-washed and schist-clad Parnell building is becoming available for lease with a range of tenancy options on offer from 50 to 200 square metres. The three-storey building at 112 Parnell Rd, opposite the former Exchange Hotel, has car parking and retail space on its ground floor level and luxury apartments on the top Level Two floor.

    Date Oct 2014

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