NAI Harcourts Blog

Sick of the commute to work? Frustrated with Auckland house prices? Well this could be the solution you’ve been looking for.

Unit 23, 10 Airborne Road, Rosedale combines residential living with a workspace suitable for entrepreneurs, small businesses and professionals.

The stratum freehold property is being marketed by Dave Lane of NAI Harcourts and will go under the hammer at 11am on Wednesday 1 April 2015 at the NAI Harcourts Auction Room, 128 Hurstmere Road, Takapuna. The property will be sold as vacant possession.

On the left of this two level, 120 sq m property you’ll find a well-presented residential dwelling featuring a double bedroom with a sunny courtyard. Upstairs, the combined dining and living area leads out onto a north facing balcony perfect for relaxing while the rest of the Auckland fights the traffic.

On the right-hand side is a warehouse area, with mezzanine floor with ample space for storage, multi-desk offices or light manufacturing.

Lane says that the property would be well-suited to individuals and couples who are looking to get their first business off the ground, for existing business owners who are looking for a better work-life balance, or for innovators who need space to develop and grow their business.

The unit is well-situated close to public transport and motorway links. It’s just a short distance to Albany Mall, North Harbour Stadium and bulk retail facilities.

The property comes complete with two allocated car spaces as well as ample on-site visitor parks.

Lane says that a live work unit offers plenty of advantages for people who want to make the most of their time and keep expenses down.

“A work live unit offers the best in work-life balance. Your commuting time is negligible, you never have to worry about bad weather or traffic and you have everything you need to live and work under one roof.

“A unit like this also offers significant financial advantages. It will cost you less than purchasing a home and as a bonus you have a sizable work area that can be easily delineated for tax purposes. You’ll save on petrol, have the convenience of your home kitchen for meals, and you’ll never have to worry about leaving something behind at the office again.

“This particular unit is within a relatively modern, sought after complex that provides an excellent live-in community of like-minded individuals.

“In addition to all of this, the North Shore is a great place to live and work with its outdoor lifestyle and busy entertainment precincts. A lunch time swim at Takapuna Beach, a late-afternoon jog in a scenic reserve or a round of golf at the nearby North Shore Golf Club could all be part of your daily routine.”

The property is zoned Business 10 in the Auckland Council District Plan and Light Industry under the Auckland Council Proposed Unitary Plan.

Council rates for the property are $2,098.71 incl. GST, and the Body Corporate Levy is estimated to be $1,970.

NAI Harcourts North Shore is fast-becoming one of the North Shore’s premiere Commercial Property specialists having sold the iconic Hall’s Corner for $14.5 million, last year.

Last month, NAI Harcourts was awarded International Member of the Year by NAI Global, in recognition of their growing success. NAI Harcourts is represented in 61 locations nationwide.

For further information contact:

Dave Lane
NAI Harcourts
dave.lane@naiharcourts.co.nz
021 928 031

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Developers and visionaries have only been able to dream about the potential of the ex-Takapuna fire station property flanked by beautiful Lake Pupuke and Killarney Park. That is, until now.

After much anticipation, Andrew Bruce and Rob Meister from NAI Harcourts North Shore are proud to be exclusively marketing, for sale by tender, 41-43 Killarney Street on behalf of the New Zealand Fire Service.

The 4,737 square metre freehold property is now surplus to Fire Service requirements following the relocation of the Takapuna fire station to new purpose-built premises on Wairau Road. Proceeds from the sale will contribute towards the cost of the new Takapuna fire station and other planned construction such as the rebuild of Christchurch fire stations or the construction of a new station in East Coast Bays.

Andrew Bruce of NAI Harcourts North Shore says that with land and residential property supply in Auckland at critical levels, a high-quality residential development, in a world-class location like Takapuna, will be a perfect fit.

“With potential views over both Lake Pupuke and Killarney Park, the famous Takapuna Beach less than 1km away and a bustling café and bar precinct within easy walking distance, this stunning development opportunity is ideally suited to a quality multi-residence complex with a difference,” says Bruce.

Today’s market is characterised by strong economic growth, low interest rates and rising population numbers and residential property development is viewed as a sound long-term investment. Bruce says that with properties on the North Shore becoming increasingly difficult to come by, “a top-grade site of this size, located in arguably New Zealand’s most liveable suburb, is a rare thing and we expect interest will be high.”

Included in the sale are the former fire station and administration buildings. These consist of the original 1952 single storied fire station (134sqm), the larger multi-level 1959 fire station with accompanying training tower (1,530 sqm) and a 1972 fire training building as well as double garage in the north-western corner of the site.

Rob Meister of NAI Harcourts says that developers and buyers with creative flair may wish to consider converting these industrial-era structures to alternative type uses. “There is potential for those developers with imagination and creativity to utilise the existing buildings. These structures offer a unique opportunity in their own right. Interest for other uses such as medical centre, educational, art gallery, child care, boutique accommodation and community uses has been mentioned. Such uses would however require City Council consent.”

The near-rectangular shaped property features a wide frontage of around 80 metres and is bordered on two sides by Killarney Park. The southern end of Lake Pupuke lies less than 150 metres walk through Killarney Park.

High quality local schools, including Takapuna Normal Intermediate, Rosmini College, Takapuna Grammar, Westlake Boys’ and Girls’ high schools are within a short distance.

The land is currently zoned Residential 2B and ‘Mixed Housing Suburban’ under the Proposed Auckland Unitary Plan, the latter allowing more intensive development applying to selected areas that enjoy a high standard of natural amenity and seeking to ensure that these values are recognised and protected. Non-residential uses will require resource consent from Auckland Council.

Bruce says, “Takapuna is a highly sought after residential location that offers the perfect balance of outdoor lifestyle, restaurants and entertainment, retail shopping, weekend markets, business and commerce. This property, in this market, is a once in a lifetime opportunity.”

Tenders close at 4pm on Thursday, 9 April 2015, delivered to NAI Harcourts North Shore office at 128 Hurstmere Road, Takapuna. The property will not be sold prior to the tender close-off date.

NAI Harcourts North Shore is fast-becoming one of the North Shore’s premiere Commercial Property specialists having sold the iconic Hall’s Corner for $14.5 million, last year.

Earlier this month, NAI Harcourts was awarded International Member of the Year by NAI Global, in recognition of their growing success. NAI Harcourts is now represented in 61 locations nationwide.

For more information contact:

Andrew Bruce

M 0274 985 852

P 09 486 9205

andrew.bruce@naiharcourts.co.nz

Rob Meister

M 021 900 801

P 09 486 9260

rob.meister@naiharcourts.co.nz

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Cromwell will soon have a vibrant innovation and technology park with more than 20 of 42 available sections on the Highlands Motorsport Park site already sold. Harcourts is the exclusive agent for the project.

The new innovation and technology park is the second phase of commercial development for the 88ha block of land purchased by Tony and Christina Quinn in 2012 on the outskirts of Cromwell. The first stage was the development of the Highlands Motorsport Park, which opened in March last year.

Motorsport Park owner, Tony Quinn says that the vision for the new innovation park is to create a hub where like-minded people can work alongside each other designing, developing and testing cutting-edge technology.

“The Motorsport Park has been hugely successful and as a result a need has arisen to create a place where people can work on their vehicles in a controlled environment.

“This development would also suit anyone looking for a safe environment to test products including heavy duty machinery, farming equipment or electronics. Kiwis are world-renowned as innovators, particularly in the field of engineering, and the technology park will be a place to develop and test those ideas and products.

“Our aim is to develop a world-class facility that is going to really enhance the region and attract international visitors and investment,” says Quinn.

Investment in the new technology park has already reached $30 million and is expected to increase significantly through the sale and development of the remaining blocks, which also includes the Pitlane residential apartments for occupiers wishing to stay on site at the Motorsport Park.

The plots in the technology park range in size from 259sq m to 1215sq m. The land and buildings within the site will be used for motorsport and related activities including peripheral businesses.

Harcourts sales consultant Peter Bennetts says that sales for the sections have been strong and that interest has been shown from a range of different types of business.

“This development is a great opportunity not just for motor sports enthusiasts from New Zealand and abroad but for businesses servicing the technology park, for innovators and for product developers.”

For more information contact:

Helen Metcalfe, Communications Manager

Harcourts New Zealand

Ph: 027 901 0174

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A vacant street level premises, which has been run as a successful family-owned bar and brasserie for the past 18 years, is for sale for the first time in 20 years. The premises is located in the heart of the busy Epsom district, opposite Alexandra Park Raceway at 373 Manukau Road.

The unit is being marketed by Nicolas Ching and Anna Toyota of NAI Harcourts Auckland Central and will go under the hammer at 11am on December 18 at NAI Harcourts, 18 Emily Place, Auckland, if not sold prior.

Ching says the property makes an ideal investment for owner occupiers or investors wanting to capitalise on the strong level of pedestrian and vehicle traffic in this high profile retail destination.

“The owners of this busy and successful family run business have decided it is time to retire creating an outstanding business opportunity for the successful buyer of this unit,” says Ching.

The premises is located on a busy street that is lined with retail shops, cafés and restaurants and is within easy walking distance of Greenlane hospital and the ASB Showgrounds. The retail precinct also services neighbouring high-density residential buildings.

The building has a wide frontage with excellent exposure to Manukau Road, a main thoroughfare for the busy Epsom and CBD districts.

The unit has a total floor area of about 460 sq m and includes a mezzanine floor that could be utilised as extra seating for a restaurant or café, or as private office space or storage.

With a modern interior that has been recently refurbished to a high-quality standard, the property can comfortably seat up to 200 patrons.

Ching says the unit could be operated as a restaurant, café, other business or office space.

“The current owners of this unit have run this business as a successful family owned restaurant for the past 18 years. Their decision to retire could create the perfect opportunity for a buyer looking for a restaurant that is ready to go in time for the busy summer season.

“Likewise, the prime location of the unit means the building also lends itself well to other types of business such as cafes, retail, or for buyers looking for conveniently located office space,” says Ching.

There is space at the rear of the building that can be utilised for car parking. Off-street parking is also available nearby.

The site is currently zoned Business 2 which permits a range of commercial, leisure and residential activities, with development controls allowing for a basic floor ratio of two-to-one up to a four-to-one maximum, with a height restriction of 12.5 metres or about three storeys.

The unit will be sold as freehold. Total rates for the property for 2014/2015 are $16,569 + GST.

Ching says, “We don’t expect a business opportunity of this calibre to stay on the market for long. This location is a proven winner for all types of business and could be ready to be occupied within a month of settlement.”

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One of the last large parcels of land available for development in Remuera is for sale by negotiation.

There are few, if any, comparable properties left in the inner suburbs, says Geoff Thorne of NAI Harcourts North Shore, who is marketing the land along with this colleague Rob Meister.

12 and 46 Abbotts Way, two adjoining titles, are offered as one package of land. Together they comprise in excess of 1.5 hectares in Auckland’s most exclusive suburb.

“This is one of the last opportunities to buy a significant piece of land in Remuera. Investors will never again have at their fingertips such potential for development or land banking for the future,” Thorne says.

One possibility for development is a retirement village, Thorne says, which resource consent has already been approved for in the past. Located next to an already established and small-scale retirement village, this site offers a desirable location for an inner city village that is almost impossible to replicate.

“The Baby Boomer population is putting pressure on the retirement village style of living as they downsize and look for security and a high quality lifestyle,” Thorne says. “This supply and demand disparity looks set to exist for some time. Developers won’t find a better suited piece of land, in an area considered highly desirable for the purpose.”

Other possibilities for development include terraced or intensive housing.

The current zoning is residential 6A, which allows for density of 375m² gross land area per site. Under the proposed Unitary Plan the properties are zoned as Mixed Housing Suburban. This allows for a density of one dwelling per 200m² (where four or more dwellings are proposed and the site has a minimum area of 1200m² and other frontage criteria).Proposed buildings must not exceed 8m in height.

Located a short distance away are some of Auckland’s most exclusive addresses and properties. 12 & 46 Abbotts Way are also close to the Remuera Gold Course, Remuera Village and Meadowbank shopping centres. Newmarket lies further north-west.

Together the properties make up approximately 15,418m². 12 Abbotts Way comprises 5,827m² and 46 Abbotts Way 9,591m². The 2014 Capital Value for both is a combined $12.3 million, however does not accurately reflect what the land will sell for, Thorne says.

Meister says the only improvements include a four bedroom house that is in a poor state of repair. It is envisaged that any purchaser will have plans that include the development of the entire site, making this house irrelevant.

There is excellent access to the sites, with two separate street entrances from Abbotts Way. However, for prospective purchasers viewing is by appointment only.

The owner has undertaken a geological investigation and water course management. These reports will be available to qualified parties.

Offered to the market for sale by negotiation, this outstanding parcel of land is genuinely for sale at a time when demand for housing and senior living is at an all-time high, Meister says.

“Auckland’s housing market is playing catch-up after years of lack of development and at current levels of building there is still a significant shortfall of new houses being built to supply the demand. As such this opportunity should not be overlooked by investors.”

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A ground level office space ideally suited to an owner occupier wanting to be close to Westfield Albany Mall is available for sale by auction.

Unit K, 75 Corinthian Drive, Albany is being marketed by Dave Lane of NAI Harcourts North Shore and will go up for auction on Thursday 4 December at 11am.

Lane says this well presented office property is adjacent to the North Shore District Court and is currently vacant.

Estimated to have been built in 2005, the property comprises a total floor area of approximately 167m², which includes 122m² of office plus a 45m² private courtyard. It is positioned at ground level and is the second to last unit from the rear of a complex containing a number of other similar unit titles.

There are four allocated car parks, three opposite the unit and one positioned to the front.

Lane says the office area is relatively spacious and the fit out was set up for a physiotherapist, however it would be functional for most office uses. He anticipates the location would be well suited to a law related activity due to its near proximity to the North Shore District Court.

The amenities are modern in appearance and include a kitchenette and facilities. The inside space opens out onto a private rear courtyard.

Potential rent is $34,500 net pa.

The property is located on the south eastern side of Albany central and is adjacent to Westfield Albany Mall. It is approximately 1km south west of the northern motorway interchange, and a similar distance north east from the Tawa Drive motorway interchange.

Unit K, 75 Corinthian Drive has been built to the latest building code. As such it is not considered to be at risk in the event of an earthquake. Checks with both Auckland City Council and the Body Corporate Manager have confirmed that no seismic reports have been done on the property and are not considered essential due to it being a recent development.

Total rates are $3,262 including GST, with a body corporate levy of $1,854.

The gently sloping site is currently zoned Business 6, which applies to land well suited to commercial development. The proposed zoning under the Auckland Unitary Plan is Metropolitan Centre, which provides for a wide variety of activities, including commercial, leisure, high-density residential, tourist, cultural, community and civic services.

Lane says the easy to find location, combined with a demand in the area for ground level office space, makes this property one that will appeal.

Unit K, 75 Corinthian Drive, Albany will be auctioned at 11am on Thursday 4 December at the Royal New Zealand Yacht Squadron, 101 Curran Street, Westhaven.

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A massive industrial property occupied by one of New Zealand’s largest and well known trucking companies is available for sale in Hawke’s Bay.

509-513 Orchard Road, Hastings is for sale by negotiation. The property is on three certificates of title, which combined create a large rectangular site of 1.9079ha.

Marketed by Ian McLachlan and Tony Craig of NAI Harcourts Hastings, the 509-513 Orchard Road is available for sale by private treaty.

McLachlan says this is a prime opportunity to secure a piece of land with huge future development potential, that also has a long-term, secure tenant with good rental returns.

Emmerson Transport Limited (ETL) has occupied the majority of the site since 1991. ETL is one of the largest transport companies in New Zealand, with over 80 truck units. This site is the head office/ depot for five other North Island branches.

The property is located on industrial land some two kilometres from Hastings central and less than a kilometre from the Napier/ Hastings expressway, heading both north and south.

Buildings include a smart separate single story office block with frontage and access to Orchard Road. Further onsite buildings include workshops and shedding constructed of a mixture of steel portal and iron clad exterior lining, together with depot offices which were the original ETL depot offices and facilities

The main office is 450m², the depot offices cover 289m², the workshops 2410m² and the truck shelter 203m².

The yard area has a mixture of concrete and hard stand gravel.

ETL pay a net rental of $275,000 pa plus GST to occupy 3,350m² on 1.83ha of land.

A tenant since 1991, the next tenancy will commence on 1 January 2015 for a five year term, with two five year rights of renewal.

There is also a truck wash on site which is owned by ETL.

McLachlan says 509-513 Orchard Road continues to ideally suit ETL’s needs and potential purchasers can be confident in the security of the investment.

“The location is of very high logistical importance to the tenant. This has been continually reiterated during discussions regarding the preparation of the property for sale.”

In addition, BP Oil NZ Limited occupies 774m² of land as a diesel fuel truck stop. Rental is $25,000 pa gross. The current rental term commenced on 1 April 2012 and runs for four years, with three four year rights of renewal.

McLachlan says there has been good interest in the property so far, with potential buyers attracted by both the future development opportunity and the high profile, secure tenancy.

Investors over the $3 million mark would be wise to inspect.

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For the first time in over 10 years there are large blocks of harbour side, industrial land available for purchase in Whangarei.

Port Nikau, formerly known as Port Whangarei, has been sold into private ownership, subdivided and is now offered for sale by the Port Nikau Joint Venture consortium. Included are the former main wharves, goods sheds, freight handling yards and the former Tenix ship yard.

Marketed by Peter Peeters of NAI Harcourts Whangarei, there are 18 lots of land currently available, which include three backing directly onto deep water, and a further 15 sites.

Peeters says they range in size from 3,800m² upwards, with a further 100 hectares yet to be subdivided.

As the land is zoned industrial and overlooks Whangarei Harbour, this opportunity is ideally suited for warehousing, transporting and engineering.

“Land prices are so favourable up here. As well as local interest, there will be a huge interest from Aucklanders looking to take advantage of the value for money, with the land able to be purchased from $100m²,” Peeters says.

Port Nikau is 3km from Whangarei’s CBD and is just 2 hours north of Auckland. The site is serviced by rail, road and sea.

Purchasers have access to three wharves and a commercial ramp for launch and retrieval, Peeters says.

The land has a deep layer of metal and consolidation from previous years and the ground level is high enough to make building levels easy to meet new standards. No storm water attenuation is required.

There is a new road with AC seal for high load turning trucks and there is the potential for future access over the hill, allowing two access routes into the Port Nikau area.

Options include purchase, lease to purchase, or the owners will build and lease back.

Peeters is also marketing what he calls some of the cheapest industrial land available in Northland. There is 4.806ha of land available on Marsden Point Road in Ruakaka.

Formerly owned by a forestry company and transport firm, and now surplus to requirement, the land is being sold for as little as $40 a square metre.

Peeters says the land sits midway between State Highway One and Port Marsden wharves, with close proximity to Whangarei City and within easy reach of Auckland.

Northland Port Corporation’s wharves have been relocated to Marsden Point and this has resulted in a large scale subdivision of surrounding land zoned for commercial and industrial use. Marsden Point will become an area of increasing significance as Northport Limited further develops its ability to handle a diverse range of cargoes.

Peeters says the 4.806ha he is marketing is zoned Business 4 (Heavy Industrial) and is a rear site screened from the road on a free draining base with a flat contour. This makes it ideal for the development of a contractor’s yard, mill site or other timber processing type business.

Sites are from 2000m² upwards, with a good selection of lot sizes available.

Peeters says Whangarei itself is experiencing robust economic growth, with its GDP rising by 3% last year. The Whangarei District has a population base of 80,000 with about 27,000 employees working for more than 6,500 businesses. The area generates approximately half of the Northland regional economy.

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NAI Harcourts’ final Key Assets portfolio for 2014 has been released, containing over 60 commercial properties and businesses for sale and lease.

General Manager Michael Grainger says the portfolio includes opportunities in the large city centres, as well as in the provinces, from Kerikeri down through to Invercargill.

Of particular note in this issue is the number of industrial opportunities that exist in Northland, which Grainger says is a good investment area for those looking for something close to Auckland.

Located in Whangarei City and 3km from the central business district is Port Nikau (formerly Port Whangarei). This land was recently subdivided and stage one is now available for development. The lots are being marketed by Peter Peeters of NAI Harcourts Whangarei. Included are the former main wharves, goods sheds, freight handling yards and the former Tenix ship yard. The site is serviced by rail, road and sea.

Peeters says in the first stage of the development there are three parcels of land available that each have individual access to the harbour and deep water. There is a further 12 lots with good road access to the launching ramp and the wharves. Section sizes start at 3800m² and go up from there. The total property is 106 hectares. Options include purchase, lease to purchase, or the owners will build and lease back. Land can be purchased from upwards of $100m².

Possibly the most inexpensive industrial land available in the Northland district is available on Marsden Point Road in Ruakaka. Again marketed by Peter Peeters, this 4.806ha of land zoned Business 4 (Heavy Industrial) is ideal for the development of a contractors yard, mill site or other timber processing business, Peeters says.

For investors looking south of Auckland, there is a quality investment close to the Hamilton CBD at the Corner of Anglesea, Knox and Hood Streets. Marketed by Mike Neale of NAI Harcourts Hamilton, the property is tenanted by Resene and returns $168,500 pa. Neale says the property includes land of 1,929m² and a floor area of 820m², with 25 onsite car parks. In excess of 20,000 vehicles pass the high profile site every day. The property will be auctioned on Wednesday 26 November at 11am, at the NAI Harcourts Auction Room, corner Forest Lake Road and Te Rapa Road, Hamilton.

In Auckland investors have a range of opportunities available to them, eight of which will be auctioned at the Royal New Zealand Yacht Squadron in Westhaven on Thursday 4 December at 11am.

8 Miami Avenue, Waiheke Island

Occupying a road front position in popular Surfdale, 8 Miami Avenue is marketed by Andrew Bruce and Rob Meister of NAI Harcourts North Shore. This property is 809m² and includes a modern two level commercial building, built in 2006 and fully refurbished. The freehold site has three tenancies including an authentic French café, creperie and bistro, Vodafone and one vacant retail shop (under negotiation). Meister says the potential rental is $75, 165 + GST.

Unit 2, 5-19 Factory Road, Waimauku Village

Marketed by David Savery of NAI Harcourts Auckland West, this property is a 1000m² freehold purpose built modern supermarket of concrete construction. Current rental is $190,000 + GST, with a 10 year lease that commenced in March 2008 and a final expiry, after rights of renewal, of 30 March 2028. Savery says Fresh Choice is the anchor tenant amongst 14 other retail shops, including a medical centre, café, takeaways and residential apartments servicing Waimauku township and surrounding districts.

46 Carr Road, Mt Roskill

This tenanted investment in a busy commercial hub is marketed by James Lee and Nick Mi of NAI Harcourts Ellerslie. It includes a 581m² warehouse and office, with long-term tenants paying $69,600pa + GST. Lee says the location is one of the most sought after industrial hubs in Auckland Central and this property will appeal to many investors.

13-15 George Street, Papatoetoe

A two level freehold mixed use building, this property is situated on the main retail street of the town centre. Marketed by Nicolas Ching of NAI Harcourts Auckland Central, the property includes side by side dual frontage retail space and is occupied by two retail tenants, Balaji Indian Takeaway and an IT company, returning $57,000 pa. The property includes residential accommodation upstairs, with plenty of parking to the rear of the site, and there is outstanding opportunity to add value, Ching says.

All four Auckland properties listed will be auctioned at the Royal New Zealand Yacht Squadron in Westhaven on Thursday 4 December at 11am, along with four others showcased in Key Assets magazine.

View the latest issue of Key Assets here.

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