NAI Harcourts has released its first Key Assets portfolio for 2014, which includes over 60 commercial properties and businesses for sale and lease.
General Manager Michael Grainger says the portfolio reflects the growing success of NAI Harcourts. Although a relatively new player, first entering the New Zealand commercial property scene in 2011, NAI Harcourts is achieving massive growth and in the past 12 months has increased settled value by 72% and written value by 51%.
As NAI Harcourts’ flagship portfolio, Key Assets features a range of the exciting properties being marketed by NAI around the country, from Kerikeri through to Invercargill.
In Auckland investors have a rare opportunity to purchase three retail investments in Ponsonby Road’s tightly held Three Lamps precinct. 305-309 Ponsonby Road is on the market for the first time in 20 years and with an A+ seismic rating and excellent tenants – including the ASB Bank – is expected by be highly sought after.
Another landmark property featured is Hall’s Corner in Takapuna. This property has been held by the Hall family for over 100 years and is offered for sale by tender. Consisting of four titles offered as one portfolio and situated on the Corner of Hurstmere and Lake Roads, this property provides investors an opportunity to stamp their mark on the future of Takapuna.
In Onehunga Andrew Bruce and Rob Meister are marketing 291 Church Street, which is a smart road front, three level building.
Mr Bruce says the property is a proven performer, with four established tenants who have provided its current owner with consistent income and occupancy, along with capital growth.
The site area is approximately 1189m² with a total floor area of 1779m². The current total net rental is $115,400 per annum plus GST and Mr Meister says this is acknowledged as being below market value so there is excellent potential for rental growth.
Available for the first time in over 30 years, 291 Church Street was built in the 1970s and is easily accessed from the motorway. It has a Grade B seismic rating of 74% NBS. The property will be auctioned on Thursday 20 March at 11am at the Royal NZ Yacht Squadron in Westhaven.
Another property marketed by Rob Meister and Andrew Bruce is a tenanted investment at 63 Apollo Drive, Rosedale. Leased to BSH Home Appliances Limited, this top quality ground floor office/ showroom (164m²) includes basement storage (56m²) and five car parks. Net annual rental is $56,900 per annum plus GST & OPEX. The lease will expire on 30 November 2018 (subject to renewal).
Mr Bruce says the building was built in 2008 and is located in the sought after Interplex Business Park on the North Shore. It has been occupied since new as a showroom for Bosch and Gaggenau home appliances and is leased to BSH Home Appliances Ltd, a subsidiary company of the BSH Bosch and Siemens Hausgeräte GmbH, which is a group based in Munich with worldwide operations encompassing over 70 companies in more than 40 countries.
A change in vendor circumstance means the property is being offered for sale via auction on Thursday 10 April at 12pm at 400 Beach Road, Mairangi Bay, Auckland.
For investors looking north of Auckland, Hayden Clarke is marketing a property which he says will achieve a greater yield than that expected in the major cities. G/19 Klinac Lane is a quality, modern and low maintenance commercial unit located in the centre of Waipapa, Kerikeri, the retail hub of the far north.
The property is leased by a secure national tenant (Bed Stop LTD) with a five year initial term (expiring 10 September, 2017) and two rights of renewal of four years each. Mr Clarke says the market level rent strengthens the position for future property rental and value gains. The current net income is $45,000 per annum plus outgoings and GST.
With an area of 291m² and shared use of a large common ground car park and shopping centre amenities, the property enjoys the benefit of being surrounded by other high profile national retail outlets including The Warehouse, Dick Smith, Noel Leeming, Stirling Sport etc.
G/19 Klinac Lane is being offered for auction on Friday 21 March at 2.30pm at Orchard Estate, 66 Cobham Road, Kerikeri.
Many exciting opportunities also exist south of Auckland. In Hamilton Mike Neale and Kara Gerrand are marketing what they call a “red hot” investment in the CBD. 404 Anglesea Street is located on a prime CBD arterial route with Centre Place mall, Casabella Lane and the Hamilton Transport Centre in close proximity.
Tenanted by Canon New Zealand Limited on a new six year lease returning $65,000 per annum plus GST and outgoings, Mr Neale says it is an extremely versatile property with the opportunity to add future value.
The land size is approximately 690m² with a net lettable area of 200m². There are 15 on-site car parks and the property has an excellent profile, with over 13,000 vehicles passing by daily.
Mr Neale says the property would ideally suit an astute long term investor or family trust. It will be auctioned on Wednesday 19 March at 11am at the NAI Harcourts Auction Room, corner Forest Lake Road and Te Rapa Road, Hamilton.
In Christchurch James Stringer is marketing 151 Cambridge Terrace, which is currently under construction.
Mr Stringer describes it is a pinnacle of design and location on one of Christchurch's most desirable corner locations. The A grade building has views overlooking the Avon River and towards the Southern Alps.
Deloitte have secured two floors and the opportunity is now available for the remaining three floors, with floorplates of approximately 1020m² each. Ground floor hospitality spaces are also available with sizes ranging from 90m²-290m².
Engineered by leading firm Aurecon, the damage limitation design incorporates the latest in Base Isolation technology. The property is due for completion in December.
View Key Assets here