Latest Commercial Sales – Barfoots

Barfoot & Thompson Auckland  - Latest Auction  Sales


68 Sale Street – Screentime NZ & Others
Date: November 2014    Price: $6,100,000    Analysis: $2,298/m2    Yield: 4.31% Two commercial buildings located on a 1381 m2 site with dual frontage to Sale Street and Cook Street zoned CBD (SMA3) Victoria Quarter Zone under the proposed Unitary Plan. 68 Sale Street is a 5 level fully leased building with offices and car parking constructed circa 1980s with a 71 % NBS (B Grade) seismic rating. 109 Cook Street is a 3 level partially leased office building constructed circa 1960s with a 90 % NBS (A Grade) seismic rating. At the time of sale the property was returning a combined total rental of $263,084 pa.

597 New North Road – First Scene
Date: November 2014    Price: $3,200,000    Analysis: $2,664/m2    Yield: 5.63%  A substantial two level building constructed circa 1970. Located on an elevated 1378 m2 site with dual frontage to New North Road and Western Springs Road. Due to the rising contour of the
site, cart docks and pedestrian access are provided to both levels of the 1,201 m2 building.
Includes good onsite carparking off both streets. At the time of sale the property was returning
$180,000 pa with the lease expiring at the end of January 2016.

46 G Stanley Street – Ricoh NZ Ltd
Date: November 2014    Price: $280,000    Analysis: $3,733/m2    Yield: 7.43%
A ground floor strata office unit within the Carlaw Commercial Centre, a courtyard office development on the corner of Stanley Street and Nichols Lane. Includes 2 carparks. At the time of sale the property was returning $20,800 pa with 6 months of the lease term remaining. The rate excluding car parks equates to approximately $3,000 /m2.

60 Airedale Street – Education & Others
Date: August 2014    Price: $6,000,000    Analysis: $3,006/m2    Yield: 5.54%
A 11 storey commercial building including nine office floors, two residential penthouse and one level of basement parking for 17 cars. The building is situated on a 441 m2 site 100 metres north of its intersection with Symonds Street. The building was built in 1989 and has a seismic rating
80 %. At the time of sale 4 floors were occupied with new 6 year leases with demolition options returning a total income of $332,600 pa.

660 Rosebank Road – Paint & Decor Ltd
Date: November 2014    Price: $1,175,000    Analysis: $2,295/m2    Yield: 4.68%
A single level 1990s roadfront industrial building providing 262 m2 of showroom and 250 m2 of warehouse space. Located on a site of 1,011 m2 the building is set back from the road with off- street parking to the front. At the time of sale the property was returning $55,000 pa with the lease having approximately 4 months to run.

166 H Lansford Crescent – Glenburn Panelbeaters
Date: December 2014    Price: $185,000    Analysis: $1,850/m2    Yield: 5.64%
A small size format 1980s industrial unit of 100 m2 contained within a development of 11. Situation is on a corner site at Lansford Crescents eastern most juncture with Wolverton Street. The unit provides a small area of offices and amenities to the frontage together with medium stud warehousing/workshop. At the time of sale the property was returning $10,434 pa with approximately 10 months of the lease term remaining.

269 Great South Road -
Date: November 2014    Price: $515,000    Analysis: $805/m2    Yield: 0.00%
A two level light industrial building of 640 m2 constructed in the 1960s and converted into several mixed tenancy spaces. Located on a large rear cross-lease site with an undivided half share in 3,368 m2 A mortgagee sale.

9 B Mahunga Drive – MIT & Other
Date: October 2014    Price: $3,000,000    Analysis: $828/m2    Yield: 8.59%
An industrial property comprising 3288 m2 of warehouse and 337 m2 of office space. Located on a rear site of 5853 m2 with good yard/carparking space. At the time of sale the property was returning $257,770 pa with approximately 2.9 years of the lease term to run.

2 E Bishop Browne Pl – Vacant
Date: October 2014    Price: $540,000    Analysis: $3,892/m2    Yield: 0.00%
A modern two level strata commercial unit of 138.75 m2. Comprises 2 separate self contained spaces with ground floor showroom/retail of 87.61 m2 and a first floor office suite of 50.96 m2. Located within a multi-unit development, Bishopsgate Business Centre, on the south-western corner of Te Irirangi Drive and Bishop Dunn Place. Sold with vacant possession.

35 Station Road – Ramset
Date: December 2014    Price: $1,425,000    Analysis: $2,586/m2    Yield: 6.22% A 551 m2 two level 1980sl commercial building on a 811m2 site. The property comprises showroom, offices and warehouse space together with carparking to the front yard.. It has been occupied by Ramset for 20 years, current rent is $88,576 expiring in July 2016.

124 Symonds Street – Vacant
Date: November 2014    Price: $1,275,000    Analysis: $2,742/m2    Yield: 0.00%
A 3 level 1970s office building of approximately 465 m2 with city and harbour views. Situated on a site of 155 m2 on the corner of Symonds Street and the off ramp of SH1 on the fringe of the CBD. Sold with vacant possession.

4 Winchester Street – Vacant
Date: December 2014    Price: $875,000    Analysis: $4,487/m2    Yield: 0.00%
A 1960s industrial property of approximately 195 m2 comprising warehouse space with polished, sealed concrete floors, white painted interior and good natural light. On a recently subdivided site of 302 m2 the property shares a common fire-rated wall on part of the western boundary with an industrial property at 20 Newton Road. Sold with vacant possession.

155 Queen Street& B/C -
Date: October 2014    Price: $1,530,000    Analysis: $2,137/m2    Yield: 0.00%
The property comprises the entire Level 15 held in three strata titles within the high rise commercial building of 155 Queen Street which is situated within the Central Auckland Business District. Includes 3 carparks.

1875 Great North Road – ex Bayleys
Date: December 2014    Price: $1,480,000    Analysis: $2,473/m2    Yield: 5.83% A 1950s commercial building of 598.5 m2 located on the corner of Great North Road and Rosebank Road within the Avondale retail district. Existing fitout as offices together with basement storage. Previously occupied by the National bank and more recently a real estate and property management office. The tenant no longer occupies the building however the lease runs until September 2015 returning $86,300 p

166 E Lansford Crescent & F – Glenburn Panelbeaters
Date: December 2014    Price: $370,000    Analysis: $1,850/m2    Yield: 5.64% Two adjoining small size format 1980s industrial unit of 100 m2 each contained within a development of 11. The units have had the common wall between removed and are utilised as one space. The long established tenant also leases 2 other units in the block. At the time of sale the property was returning a combined income of $20,868 pa with approximately 7 months of the lease term remaining.

166 D Lansford Crescent – Glenburn Panelbeaters
Date: December 2014    Price: $185,000    Analysis: $1,850/m2    Yield: 5.64% A small size format 1980s industrial unit of 100 m2 contained within a development of 11. The unit provides a small area of offices and amenities to the frontage together with medium stud warehousing/workshop. Situation is on a corner site at Lansford Crescents eastern most juncture with Wolverton Street. The long established tenant also leases 3 other units in the block At the time of sale the property was returning $10,434 pa with approximately 7months of the lease  term remaining.

101 Great South Road – Luxotica & Others
Date: December 2014    Price: $2,200,000    Analysis: $2,876/m2    Yield: 7.77%
A 2 level stand alone 1980s office building together with approximately 20 carparks. The site of 1027 m2 falls away from the road providing ground and basement level office space. At the time of sale the property was returning $171,000 pa with a weighted average lease term to run of approximately 6 months.

543 Rosebank Road
December 2014    Price: $1,100,000    Land Area: 1,588 m2  Analysis: $693/m2
A redevelopment site of 1,588 m2 zoned Light Industry under the Proposed Auckland Unitary Plan. Semi triangular in shape the site the site has a narrow frontage of 7.75 metres with a rear boundary of 40.13 metres. A 1980s industrial building of 316 m2 is located on the site with the existing tenant on a monthly lease returning $55,000 pa.

Posted in News & Articles | Leave a reply

Leave a Reply

Your email address will not be published. Required fields are marked *

*

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>