Case Studies - Bayleysinfo.bayleys.co.nz/rs/530-IIW-969/images/Total Property 6 2017 Case... ·...

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ISSUE 6 – 2017

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Case Studies

TOTAL PROPERTY CASE STUDY

Sold by Auction13th September 2017Bayleys House, 30 Gaunt Street,Auckland Central, New Zealand, New Zealand

Sale price$830,000.00

Yield5.92%

Source of purchaserEstablished Client

Matt Lee+64 21 1515 [email protected] Real Estate Ltd,Licensed under the REA Act 2008

James Chan+64 21 934 [email protected] Real Estate Ltd,Licensed under the REA Act 2008

Property Details

• Brand new opportunity situated in high profile complex located along State Highway 1• Tenanted by Vivo Hair & Beauty with a new eight year lease• Returning $49,100pa + GST, with annual 3% fixed rental increase• Tenants in complex include McDonald’s, BP, Domino’s, Coffee Club, Tank Juice, EducareChildcare and St Pierre’s Sushi

An excellent investment property for sale in The Grange retail convenience centre. Following the sell-down of Stages 1, 2, 3 and 4, this offering comprising Vivo Hair & Beauty, an established and well-regarded salon brand founded in 2010 now with 20 salons across Auckland and 58 across New Zealand - and a reported customer base of over 55,000 customers.

Name of Tenant Vivo Beauty Limited______________________________________________________________________________________________________

Term of Lease Eight(8) years from 1st April 2017______________________________________________________________________________________________________

Commencement Date $49,100pa +GST______________________________________________________________________________________________________

Tenancy Details

Floor Area 119.1m² (more or less)______________________________________________________________________________________________________

Two units for sale as one property, tenanted by Vivo Hair. Sold above reserve for $830,000 - a yield of 5.92% after competive bidding in the auction room.

______________________________________________________________________________________________________

Sale Summary


Boundary lines are indicative only

Sold by Deadline Sale22nd September 2017

Sale price$830,000

Yield6.5%

Source of purchaserReferral

Purchaser profilePassive investor

Mustan Bagasra09 426 [email protected] Real Estate Ltd, Bayleys,Licensed under the REA Act 2008

Dylan Turner09 426 [email protected] Real Estate Ltd, Bayleys,Licensed under the REA Act 2008

Property Details

• A genuine mixed use investment opportunity in fast growing area of Hibiscus Coast• High profile main road location around the Business Precinct• Commercial tenancy returning $26,300 pa + GST and outgoings on ground floor• Comfortable, sunny three bedroom apartment with sea views and internal double garage• Well established business with potential for an upside in future

On offer is this versatile property that will suit many buyers. Be it just commercial or residentialinvestors wanting a true split risk aspect or residential buyers wanting a home and income or owner/occupiers who may want to move into the commercial premises in future. The property is located on busy Whangaparaoa Road. This type of live/work option is in great demand so seize the moment to either live or invest in a great locality only 35kms north of Auckland.

Tenancy Details

The commercial tenancy is returning $26,300 pa + GST and outgoings on a renewed lease term of three (3) years until 31st January 2020 with two more ROR of three years. Full tenancy details available on request. The residential portion has a rental appraisal indicating a potential return of $27,000 pa.

______________________________________________________________________________________________________

Land Area: 1/2 share of 1,104m² (more or less)______________________________________________________________________________________________________

Floor Area: 261m² (more or less)______________________________________________________________________________________________________

Zoning: Multi use within Commercial - existing use of right______________________________________________________________________________________________________

Operative Zone: Residential-Terrace Housing and Apartment Building______________________________________________________________________________________________________



Sold by Auction13th September 2017Bayleys House, 30 Gaunt Street,Auckland Central, New Zealand

Sale price$1,867,000

Yield6.0%

Source of purchaserTotal Property Magazine

Purchaser profileActive add value investor

Michael Nees+64 21 182 [email protected] Howe-Smith Realty Ltd, Bayleys, Licensed under the REA Act 2008

Property Details

• Returning $112,070pa + GST from five (5) separate tenants• Town Centre zoning (21m height) Auckland Unitary Plan (OP)• Central Birkenhead location in close proximity to Auckland CBD

One of the last true growth precincts of Auckland the new zoning overhaul by way of the Auckland Unitary Plan has laid the framework for Birkenhead to finally realise its full potential and take advantage of its location, character and spectacular view shafts. The property itself offers various options currently representing a sound split risk investment leased to a mixture of hospitality, retail and office tenants providing an attractive income. Modest rental rates and flexible lease terms provides immediate upside within the current building envelope. Long term, excess land and access to the rear of the property means this site has real potential for a spectacular end product of mixed use development.

Tenancy Details

The property is leased to multiple tenants.______________________________________________________________________________________________________

Land Area 801m² (more or less)______________________________________________________________________________________________________

After being on a sole agency for three months with another agency where the property was auctioned unsuccessfully and no offers received, the property was then marketed by Bayleys through a four week Total Property auction campaign selling under the hammer.

______________________________________________________________________________________________________

Sale Summary



Sold by Deadline Private Treaty14th September 2017Bayleys House, 30 Gaunt Street,Auckland Central, New Zealand



Purchaser profileOwner occupier SME

William Gubb+64 21 145 [email protected] Real Estate Ltd, Licensed under the REA Act 2008

Sunil Bhana+64 21 938 [email protected] Real Estate Ltd,Licensed under the REA Act 2008

Property Details

• 875m² modern industrial unit• High exposure road frontage on Rosebank Road• Comprises warehouse, showroom, office and amenities

This fantastic industrial comprises functional clear span high stud warehouse, modern showroom/office split across two levels and full amenities.

This central Avondale industrial position is highly sought after due to ongoing infrastructure upgrades improving accessibility and the expansive industrial/commercial growth West Auckland is experiencing.

Tenancy Details

Sold with vacant possession.______________________________________________________________________________________________________

Floor Area 875m² (more or less)______________________________________________________________________________________________________

Zoning Light Industry (Auckland Unitary Plan)______________________________________________________________________________________________________

Car Parks 20______________________________________________________________________________________________________

Modern industrial unit marketed through a five week sale or lease campaign that generated 30+ enquiries and received four offers to purchase the property. Sold with vacant possession for $3,085 per m².

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Sale Summary



Sold by Tender14th September 2017Bayleys House, 30 Gaunt Street,Auckland Central, New Zealand


Source of purchaserDatabase


Greg Hall+64 21 0232 [email protected] Real Estate Ltd, Licensed under the REA Act 2008

James Valintine+64 21 023 71 [email protected] Real Estate Ltd, Licensed under the REA Act 2008

Property Details

• Vacant possession - suitable for owner occupier, add value investors or developers• Significant development potential under the mixed use zone• 2,039m² freehold site on three titles• Comprising office, showroom, storage and warehouse over two levels• Extremely well located in a sought after city fringe location

Positioned on the corner of McDonald Street and Altham Avenue, Morningside, this property offers great road frontage and exposure as well as multiple access points.

With a range of office, showroom/storage and warehouse areas, the property can easily be molded to suit a new occupier, refurbished to tenants requirements or redeveloped to maximise the zoning and site area.

Tenancy Details


Total Floor Area 1,673m² (more or less)______________________________________________________________________________________________________

Land Area 2,039m² (more or less)______________________________________________________________________________________________________

Zoning Mixed Use (Auckland Unitary Plan)______________________________________________________________________________________________________

Total Property Tender campaign. Multiple tenders at the close date resulting in a very pleased vendor and purchaser alike.

______________________________________________________________________________________________________

Sale Summary


Sold by Deadline Private Treaty22nd August 2017Bayleys House, 30 Gaunt Street,Auckland Central, New Zealand

Sale price$3,200,000 + GST (if any)

Source of purchaserTrademe.co.nz

Purchaser profileOwner occupier corporate

Cameron Melhuish+64 21 479 [email protected] Real Estate Ltd,Licensed under the REA Act 2008

Matt Gordon+64 21 994 [email protected] Real Estate Ltd,Licensed under the REA Act 2008

Property Details

• Simply stunning character space that must be seen to be appreciated• Approximately 438m² of beautifully refurbished space with nine basement car parks• Favourable 72% NBS earthquake rating• Premier Sale St position near the City Works Depot and a short walk to the CBD

The property, which has a 72% NBS earthquake rating, has recently been refurbished and presents as stunning character space complete with new kitchen and a pleasant north facing deck.

Walk to the vibrant City Works Depot to sample some of the award winning cafes and restaurants or stroll to Drake Street where popular fine dining and nightlife are plentiful.

Tenancy Details


Floor Area 438m² (more or less)______________________________________________________________________________________________________

Car Parks Nine (9) covered and secure parks______________________________________________________________________________________________________

Zoning Business City Centre______________________________________________________________________________________________________

Sold to an owner occupier.______________________________________________________________________________________________________

Sale Summary





Source of purchaserRealestate.co.nz/commercial


Jamsheed Sidhwa+64 21 554 [email protected] Real Estate Ltd, Manukau,Licensed under the REA Act 2008

Luke Carran+64 21 292 [email protected] Real Estate Ltd, Manukau,Licensed under the REA Act 2008

James Valintine+64 21 023 [email protected] Real Estate Ltd,Licensed under the REA Act 2008

Property Details

• High stud warehouse with six roller doors, small office, good yard and parking areas • High profile position in established commercial, industrial and residential catchment• Well constructed with an IEP rating of 100% and three phase power (300AMPs, 11 KVA)

The warehouse offers excellent operational flexibility with six roller doors complimenting a generous yard that will suit a wide range of uses from light manufacturing to transport or warehousing. The compact office with its handy mezzanine and separate amenities block could work just as well as for administration, as it could for a trade showroom operation.

Tenancy Details

Short term tenancy in place.______________________________________________________________________________________________________


Building Area 2,312m²______________________________________________________________________________________________________

This was a simple looking property at first glance that offered exceptional operational functionality amidst a high density business and residential neighbourhood. It attracted over 70 enquiries from investors and owner-occupiers alike, with the latter being the key bidders at Auction.

______________________________________________________________________________________________________

Sale Summary


Sold by Tender12th September 2017Bayleys House, 30 Gaunt Street, Auckland Central, New Zealand, New Zealand


Yield5.12%


Phil Haydock09 375 [email protected] Real Estate Ltd,Licensed under the REA Act 2008

Property Details

• Well-presented, modern office with great views and natural light• Established medical tenant of 30+ years has signed new lease• Absolute prime City Fringe position on Remuera Road´s ´Medical Mile´• 116.96m² with two dedicated car parks plus visitor parking

One of the most appealing aspects of this property is its sought after city fringe position within the well-known medical precinct of Remuera, commonly known as ’Medical Mile´. In this high profile and convenient location it is moments away from the amenities of Newmarket, North and South bound motorway interchanges and Newmarket train station.

Positioned on the third level of a four level commercial building, the opportunity comprises two titles which have been interlinked to create a single modern and professionally presented medical suite. The property has been occupied by Epsom Anaesthetic Group for over 30 years and recently they committed to a new lease.

Tenancy Details

Fully leased to Epsom Anaesthetic Group Limited returning $59,700 p.a. (net)______________________________________________________________________________________________________

Floor Area 116.96m²______________________________________________________________________________________________________

Parking Two car ports + visitor parking ______________________________________________________________________________________________________

Sold to passive investor by way of Tender.______________________________________________________________________________________________________

Sale Summary



Sold by Tender14th September 2017Bayleys House, 30 Gaunt Street,Auckland Central, New Zealand




Sunil Bhana+64 21 938 [email protected] Real Estate Ltd, Licensed under the REA Act 2008

James Hill+64 21 599 [email protected] Real Estate Ltd, Licensed under the REA Act 2008

Property Details

• Five freehold units on individual titles on a 2,529m² site• Features a sushi shop currently returning $21,650pa net + GST• Four office/showroom and warehouse units ranging from 237m² to 549m² becoming vacant

with holding income in place• Refurbish to add value in this tightly held location

With the transformation of Lunn Avenue over recent years, the property enjoys huge exposure to over 22,000 vehicles per day and is positioned amongst big brands such as Mitre 10 Mega, New World and McDonalds.

Tenancy Details

Sushi Shop leased for three (3) years from 01/01/17 returning $21,650pa net + GST. Industrial units have a holding income of $212,000pa net + GST until 31/03/2018.

______________________________________________________________________________________________________

Total Floor Area 1,654.73m² (more or less)______________________________________________________________________________________________________

Total Land Area 2,529m² (more or less)______________________________________________________________________________________________________

Zoning General Business (Auckland Unitary Plan)______________________________________________________________________________________________________

Total Property campaign generating strong interest with over 70 enquirers and multiple tenders on the close date. Price represented $2,780 per m² on a land and building basis.

______________________________________________________________________________________________________

Sale Summary



Sold by Tender14th September 2017Bayleys House, 30 Gaunt Street,Auckland Central,, New Zealand


Yield3.77%

Source of purchaserNeighbouring owner


Sunil Bhana+64 21 938 [email protected] Real Estate Ltd, Licensed under the REA Act 2008

Steve Orr+64 21 616 [email protected] Real Estate Ltd, Bayleys,Licensed under the REA Act 2008

Property Details

• Substantial 3.2 hectare freehold site with three street entrances• Current net income of $1,021,480.09pa + GST (approximately) from multiple tenancies

including Fonterra, BP, VINZ and Rentokil• Existing buildings of varying age and condition with a low site coverage and demolition

clauses

Positioned next to Sylvia Park, New Zealand´s largest retail development, this property offers a significant income stream on an undeveloped site with key transport links nearby. With options to invest with future upside, redevelop the entire site, or simply land bank for the future, this isprime real estate in a tightly held location, offered to the market for the first time since 1993.

Total Building Area 6,634.38m²______________________________________________________________________________________________________

Total Land Area 3.2ha______________________________________________________________________________________________________

Zoning Light Industry______________________________________________________________________________________________________

Five week campaign in Bayleys Total Property. Competitive Tender process with offers from owner occupiers, investors and developers. Purchased by Kiwi Property to add to their Sylvia Park land holding.

______________________________________________________________________________________________________

Sale Summary





Source of purchaserRealestate.co.nz/commercial


James Valintine+64 21 023 71 [email protected] Real Estate Ltd, Licensed under the REA Act 2008

William Gubb+64 21 145 [email protected] Real Estate Ltd, Licensed under the REA Act 2008

Property Details

• Standalone 515m² industrial building that has been recently refurbished • 521m² freehold site in central Onehunga zone allows for live/work/residential by right• Comprising warehouse, basement, apartment and/or office and amenities

Local amenities include the popular DressSmart outlet mall and the main street Onehunga Mall Road.

The central Onehunga location is currently experiencing a large transformation with neighbouring sites being converted to high density residential developments. Onehunga has also now been ’unlocked’ by the Waterview connection and this together with the proposed East West link makes this an extremely accessible and growth location.

Tenancy Details


Building Area 515m² (more or less)______________________________________________________________________________________________________

Land Area 521m² (more or less)______________________________________________________________________________________________________

Zoning Mixed use (Auckland Unitary Plan)______________________________________________________________________________________________________

Industrial building on mixed use land that was marketed through a five week campaign generating 60+ enquiries and multiple bidders at auction. Sold with vacant possession for a square metre rate of $2,718.

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Sale Summary







John Bolton+64 21 925 [email protected] Real Estate Ltd, Manukau,Licensed under the REA Act 2008

Katie Wu+64 27 230 [email protected] Real Estate Ltd, Manukau,Licensed under the REA Act 2008

Roy Rudolph+64 21 710 [email protected] Real Estate Ltd, Manukau,Licensed under the REA Act 2008

Property Details

• 4,885m² of Fee Simple rectangular land• Metaled, fully fenced with sliding electronic security gate• Easy access to both southern motorway connection at Ti Irirangi Drive• Ideal for small industrial unit development or container trucking yard

Located in Ra Ora Drive which is one of the most popular locations in East Tamaki, only minutes from Highbrook Southern Motorway connection and Botany Town Centre shopping precinct. It is also close to Ti Irirangi Drive which is the main link to both Manukau and Wiri and well placed for easy access to Ti Rakau Drive via Cryers Road and onto the South Eastern Arterial. Both Pakuranga and Otara provide a ready and stable labour force.

Tenancy Details

Sold with vacant possession. ______________________________________________________________________________________________________

Land Area 4,885m²______________________________________________________________________________________________________

Zone Business 5, Light Industrial______________________________________________________________________________________________________

This property is well located in popular Ra Ora Drive and was a unique opportunity which generated 45 enquiries overall. The marketing campaign traveled well with the value maximized by exposing the property to a wide range of potential purchasers, creating competition in the auction room with a great result.

______________________________________________________________________________________________________

Sale Summary


Sold by Deadline Private Treaty14th September 20172 Harris Road, East Tamaki, Auckland, New Zealand

Sale price$910,000



Roy Rudolph+64 21 710 [email protected] Real Estate Ltd, Manukau,Licensed under the REA Act 2008

John Bolton+64 21 925 [email protected] Real Estate Ltd, Manukau,Licensed under the REA Act 2008

Katie Wu+64 27 230 [email protected] Real Estate Ltd, Manukau,Licensed under the REA Act 2008

Property Details

• Current annual rent was $65,000 net + GST and outgoings• Process area and other floors have recently been re-coated

This road frontage unit includes an exclusive lockup yard area at the front of the building as well as a free standing unit which can be adapted for use as a freezer or chiller plant.

Tenancy Details


Warehouse/Processing 172.4m²______________________________________________________________________________________________________

Chillers 28.8m²______________________________________________________________________________________________________

Freezers 29.8m²______________________________________________________________________________________________________

Standalone chiller/freezer 42.1m²______________________________________________________________________________________________________

Office/Amenities 63.90m²______________________________________________________________________________________________________

Total Area 337m² (approximately) ______________________________________________________________________________________________________

We had 30 enquiries on this property and nine site visits which resulted in two offers received on this property. Both were from owner occupiers and well above the Vendors expectation. One offer was $30,000 higher than the other which was accepted by the Vendor and a great result achieved.

______________________________________________________________________________________________________

Sale Summary



Sold by Tender14th September 20172 Harris Road, East Tamaki, Auckland, New Zealand

Sale price$210,000 + GST



Marty Roestenburg+64 21 943 [email protected] Real Estate Ltd, Manukau,Licensed under the REA Act 2008

Property Details

The subject property comprises a level site situated below the road and sealed for the most part in asphalt and used for vehicular carparking. An entrance accessway is finished in concrete. The site falls approximately 6 meters over a distance of 20 meters from East Tamaki Road and then is flat to the rear of the site. Development potential exists by re-configuring the carparking layout (plans available) which could result in surplus land or potential yard area becoming available to develop. Ideal owner occupier or adjacent neighbour opportunity.

Tenancy Details



Estate Fee Simple______________________________________________________________________________________________________

Improvements Kerbed, sealed, lighting and security fenced/gated______________________________________________________________________________________________________

Capital Value $750,000 + GST______________________________________________________________________________________________________

Rates (2017-18) $6,144.29pa + GST______________________________________________________________________________________________________

This campaign was out of the ordinary due to the strict easements on the title, however our broad marketing approach generated good enquiry for this property and information was supplied to 22 interested parties.

______________________________________________________________________________________________________

Sale Summary


Boundary Lines are indicative only



Yield4.7%



Quinn Ngo+64 21 888 [email protected] Real Estate Ltd,Licensed under the REA Act 2008

Matt Lee+64 21 1515 [email protected] Real Estate Ltd,Licensed under the REA Act 2008

Property Details

• High profile main road site with wide frontage• Returning net $161,740pa + GST with a new four year lease• Sizeable land area of 2,023m², zoned Business Mixed Use• Well-suited for long term investment or future potential development

Positioned on a flat contour land of approximately 2,023m², the offering - which provides plenty of on site carparking, is currently tenanted by Saveway Supermarket, an Asian grocery store with a long-established presence across Auckland.

Name of Tenant Dairy Fresh 2011 Ltd (T/A Saveway Supermarket)______________________________________________________________________________________________________

Term of Lease Four (4) years from 1 April 2017______________________________________________________________________________________________________

Rights of Renewal Three (3) of Four (4) Years______________________________________________________________________________________________________

Net Rental $161,740pa +GST______________________________________________________________________________________________________

Tenancy Details


Zoning Business - Mixed Use zone______________________________________________________________________________________________________

Sold at auction for $3,440,000. Six registered bidders attended the auction andsold 27.4% above reserve at a yield of 4.7%

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Sale Summary



Sold by Auction14th September 201796 Ulster Street,Hamilton, New Zealand

Sale price$553,000

Yield5.4%

Source of purchaserSign


Josh Smith+64 27 229 [email protected] Realty Ltd, Bayleys,Licensed under the REA Act 2008

Belinda Sammons+64 27 272 7728 [email protected] Realty Ltd, Bayleys,Licensed under the REA Act 2008

Property Details

• Annual rental $29,807.44 gross + GST and OPEX• Development potential

Located on the idyllic Coromandel Peninsular in Tairua, this property offers multi-tenant options comprising of an established Bakery business, supported by three large storage sheds at the rear of the property. Situated on State Highway 25, the property is exposed to excellent traffic flow with ample on street parking. Tairua has limited commercial land on offer and the property´s close proximity to the wharf leaves it ideally situated for potential future redevelopment.

Tenancy Details

The property is fully leased to an established tenant returning $29,807.44 gross pa +GST and OPEX.

______________________________________________________________________________________________________

Floor area 822m² (more or less)______________________________________________________________________________________________________

Land area 292m² (more or less)______________________________________________________________________________________________________

The property had been on the market for two years prior to taking it to Auction where there were seven bidders and sold above vendor expectations. This campaign proved that the marketing created interest with 40 people enquiring about the property.

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Sale Summary


Sold by Auction14th September 201796 Ulster Street,Hamilton, New Zealand


Yield6.1%



Josh Smith+64 27 229 [email protected] Realty Ltd, Bayleys,Licensed under the REA Act 2008

Property Details

• Annual rental $137,842.24 + GST and OPEX• Established National brand tenant

Substantial land holding of 3,948m² (more or less) leased to Farm Source, a subsidiary of New Zealand´s largest company Fonterra, giving investors´ confidence in tenant security and longevity.

One of approximately 70 stores nationally, Farm Source Taupiri offers a "one stop" rural retailer as well as providing advice and support to rural communities. Ideally situated in Taupiri Township, this property suits the tenant´s needs being a farm based business and centrally accessible to the many farms servicing this large rural area.

Tenancy Details

The property is fully leased to an established tenant returning $137,824.24pa gross + GST and OPEX.

______________________________________________________________________________________________________

Land area 3,948m² (more or less)______________________________________________________________________________________________________

Floor area 986.35m² (more or less)______________________________________________________________________________________________________

The property had been on the market for six months prior to taking it to Auction. After a solid five week campaign and over 50 enquiries, there were six bidders and the property sold under the hammer for well above expectation.

______________________________________________________________________________________________________

Sale Summary


Sold by Auction13th September 2017247 Cameron Road,Tauranga, New Zealand

Sale price$516,000

Yield9.44%



Brendon Bradley+64 7 571 [email protected]

Kim Williams+64 7 571 [email protected]

Lynn Bradley+64 7 [email protected] Realty Ltd, Bayleys,Licensed under the REA Act 2008

Property Details

• National tenant ANZ Bank• A Grade seismic rating / 100% NBS• Prime position in town centre• Profile and prominent CBD building

The property comprises a high stud, open plan retail banking premises which includes a mezzanine level with staff amenities areas and a records store. Situated in the heart of the Opotiki CBD, the site is adjacent to a walkway leading to a large public car park area at the rear.

Name of Tenant Arawata Assets Limited T/A ANZ Bank______________________________________________________________________________________________________

Term of Lease One (1) year plus five (5) x one (1) year rights or renewal______________________________________________________________________________________________________

Net Rental $48,685.45 + GST pa from 8th July 2017______________________________________________________________________________________________________

Tenancy Details

Building Area 330m²______________________________________________________________________________________________________

Land Area 413m²______________________________________________________________________________________________________

Marketed through Total Property and regional media over a four week campaign that generated 27 registrations of interest attracted to the corporate bank tenant. Three active bidders on auction day including two on the phone which resulted in the property selling under the hammer at a 9.44% yield. Sale price/yield indicative of short final lease tenure.

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Sale Summary



Sold by Tender8th September 2017The Daily Telegraph Building,49 Tennyson Street,Napier, New Zealand

Sale price$286,000

Source of purchaserSign


Gary Wise+64 21 022 [email protected] Realty Ltd, Bayleys,Licensed under the REA Act 2008

Property Details

• High profile location• Surrounded by well known supermarket and fast food chains• Development potential

Located on the fringe of the CBD and across from the famous beautiful Clive Square gardens, sits this exciting opportunity to develop.

Surrounded by two Countdown Supermarkets, KFC, Z Fuel, Roast and other food retailers, this property benefits from massive exposure with high traffic count and is literally the gateway to Napier businesses.

Tenancy Details


Land Area 276m²______________________________________________________________________________________________________

Floor Area 260m²______________________________________________________________________________________________________

Purchaser was a local accountant who will be an owner occupier along with his partner who will run her Yoga business from there. Quite a bit of interest initially, then it waned. Most initial enquiry saw price around the Government Valutation due to the E rating of the property, but eventually the purchaser saw through that and fell in love with the location. Only one Tender received in the end.

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Sale Summary


Sold by Tender13th September 2017The Bayleys Building, Level 14,Cnr Brandon Street and Lambton Quay,Wellington, New Zealand

Sale price$565,000 + GST



Richard Faisandier+64 21 430 [email protected] Commercial (2013) Ltd, Bayleys,Licensed under the REA Act 2008

Mark Sherlock+64 21 481 [email protected] Commercial (2013) Ltd, Bayleys,Licensed under the REA Act 2008

Property Details

• 2 workshops plus a 3 bedroom apartment• Constructed in 2010• Lease up or occupy all or part• Very handy location alongside SH2

This property comprises a modern commercial workshop/warehouse complete with 1st floor offices and a large 3 bedroom apartment.

Constructed of modern materials and presented in tidy order.

Tenancy Details


Workshop 170m²______________________________________________________________________________________________________

Office 90m²______________________________________________________________________________________________________

Apartment 144m²______________________________________________________________________________________________________

Land Area 539m²______________________________________________________________________________________________________

This was a new client who would not entertain an auction due to a past bad experience. We ran a Total Property marketing campaign with a tender sale method which resulted in 4 tenders mainly from owner occupiers.

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Sale Summary


Sold by Auction14th September 2017The Bayleys Building, Level 14,Cnr Brandon Street and Lambton Quay,Wellington, New Zealand

Sale price$676,000



Andrew Smith+64 21 421 [email protected] Commercial (2013) Ltd, Bayleys,Licensed under the REA Act 2008

Paul Cudby+64 21 421 [email protected] Commercial (2013) Ltd, Bayleys, Licensed under the REA Act 2008

Property Details

• Huge potential• Seismic rating 71% NBS• Potential net rental $43,730pa + GST

This single level, 175m² building has a solid 71% seismic rating and was sold vacant.

Currently presented as quality, cool and contemporary offices, it could easily be converted to retail, and has the added bonus of a sun trap garden to the rear.

Tenancy Details


Land Area 290m²______________________________________________________________________________________________________

Office or Retail 175m²______________________________________________________________________________________________________

Height Limit 10 metres______________________________________________________________________________________________________

Zoning Petone Commercial 1______________________________________________________________________________________________________

The campaign generated 1,624 internet hits, 97 direct enquiries and resulted in nine bidders with a total of 19 bids. The strong interest was due to the the Jackson Street location, good seismic rating and generally great condition.

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Sale Summary


Sold by Auction8th September 20173 Deans Avenue, Riccarton,Christchurch, New Zealand

Sale price$562,500

Yield9.96%



Blair Young+64 3 375 [email protected] and Partners Ltd, Bayleys,Licensed under the REA Act 2008

Mitchell Wallace+64 3 375 [email protected] and Partners Ltd, Bayleys,Licensed under the REA Act 2008

Property Details

• Leaseback to NZ Post and Kiwibank• 396m² vacancy opportunity

Name of Tenant NZ Post Jo Foster Consultancy______________________________________________________________________________________________________

Term of Lease 3 years Periodic Tenancy______________________________________________________________________________________________________

Net Rental $43,647.23 $11,535.11______________________________________________________________________________________________________

Tenancy Details

______________________________________________________________________________________________________

Name of Tenant Robin Arnst______________________________________________________________________________________________________

Term of Lease Periodic Tenancy______________________________________________________________________________________________________

Net Rental $870.50______________________________________________________________________________________________________

Floor Area 1,329.17m²______________________________________________________________________________________________________

Land Area 994m²______________________________________________________________________________________________________

Rateable Value $600,000______________________________________________________________________________________________________

Seismic Rating 40% NBS______________________________________________________________________________________________________

After being passed in at auction, the property was sold to a purchaser who had missed out on both NZ Post Bishopdale and NZ Post Woolston.

______________________________________________________________________________________________________

Sale Summary


Sold by Auction8th September 20173 Deans Avenue, Riccarton,Christchurch, New Zealand3 Deans Ave, Christchurch, New Zealand


Yield5.63%





Property Details

• Six year lease to Paper Tree plus renewals• Tenant holds a NZ Post and Kiwibank services contract• Major refurbishment was completed in 2016

Situated in a prime position within the Bishopdale Mall the tenant, Paper Tree, apart from providing postal and Kiwibank services and the provision of 534 PO Boxes, is a well-established Christchurch business known nationally for their quality low priced art supplies, books and giftware. This is an excellent long term investment property.

Name of Tenant Paper Tree______________________________________________________________________________________________________

Term of Lease Six years______________________________________________________________________________________________________

Net Rental $62,000______________________________________________________________________________________________________

Tenancy Details

Floor Area 309.37m²______________________________________________________________________________________________________

Land Area 278m²______________________________________________________________________________________________________

Rateable Value $840,000______________________________________________________________________________________________________

Sesimic Rating 70% NBS (Grade B)______________________________________________________________________________________________________

With initially 30 interested parties, seven bid on the day,with two fighting it out over the last $100,000. The successful purchaser was a neighbouring building owner.

______________________________________________________________________________________________________

Sale Summary


Sold by Auction8th September 20173 Deans Avenue, Riccarton,Christchurch, New Zealand

Sale price$871,000

Yield6.98%


Purchaser profileHolder / land banker



Property Details

• Liquid Laundromat have a new six year lease• Discount Dairy holds a NZ Post services contract• Prime corner position adjacent to New World• The two tenants return a current gross rental of $70,000 per annum

Name of Tenant Liquid Laundromat Randeep Kaur Gill______________________________________________________________________________________________________

Term of Lease 6 years 8 years 1 month______________________________________________________________________________________________________

Review Date 1st Feb 2023 30 Jun 2018______________________________________________________________________________________________________

Net Rental $23,517.72 $37,314.46______________________________________________________________________________________________________

Tenancy Details

Floor Area 320m²______________________________________________________________________________________________________

Land Area 566m²______________________________________________________________________________________________________

Seismic Rating 67%______________________________________________________________________________________________________

Rateable Value $650,000______________________________________________________________________________________________________

Foodstuffs South Island Limited strategically acquired the property which affects the visibility of their newly built $25m New World. They out-bid three other purchasers on the day following a successful marketing campaign with over 20 enquires.

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Sale Summary



Sold by Tender14th September 2017Legal Solutions Limited (AWF),Level 1, Westburn Courts,201-203 West Street,Ashburton, New Zealand

Sale priceConfidential


Purchaser profileHolder / land banker

Steven Kirk+64 27 433 [email protected] and Southern NZ Realty Ltd, Bayleys, Licensed under the REA Act 2008

Property Details

• Rare waterfront development opportunity• High Density Residential zoning• Adjacent to Queenstown’s Hilton Resort and Spa

The only absolute waterfront and north facing development site on the market in Queenstown, New Zealand at the time.

With close to 100 metres of lake frontage, this stunning site presents incredible scope to create a much needed high end lakefront apartment complex, exclusive boutique hotel or super luxury residential precinct (subject to consents).

Land Area 3,699m²______________________________________________________________________________________________________

Zoning High density Residential (Sub zone B1)______________________________________________________________________________________________________

A complex and multi-national sale in a Joint Sole Agency Tender with Ray White. Various national and international marketing components including Total Property. Steady enquiry with a positive outcome.

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Sale Summary

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