NAI Harcourts has released its second Key Assets portfolio for 2017.
It comes at a time when Auckland commercial experts are saying local investors are increasingly winning auctions and tenders for properties, with the foreign investment having slowed.
These local investors are generally trying to beat bank deposit rates, but are still particular about what they buy in Auckland. Yields can be as low as 3.5 – 4.5% for properties that offer either strong lease covenants or some form of rental income or development upside.
NAI Harcourts North Shore business owners Rob Meister and Andrew Bruce say with floating rates reasonably stable, owner-occupiers are also still very active in this market and are competing with investors to acquire properties. In some instances, they are paying premium prices for vacant possession.
Meister and Bruce say Auckland’s land grab has settled somewhat after two very active years of land speculators trying to capitalise on the changes to zoning created by the Auckland Unitary Plan.
Meanwhile, as with most of New Zealand, Auckland is facing a combination of low vacancy and low construction completion, all within an environment of escalating construction costs.
“The number of building consent applications and approvals are an inaccurate reflection of the Auckland market, where many projects are simply not getting started because of the cost of construction. This is adding fuel to vacancy rates and rent increases,” Meister says.
As NAI Harcourts’ flagship portfolio, Key Assets features a range of the properties being marketed by NAI all over the country.
Some of the properties listed in the latest Key Assets include:
- A landmark investment in central Whangarei for sale. 41 Rathbone Street is spread over three levels, with a net lettable area of 3,348m². It is currently returning a net rental of $551,851 per year. Tenancies are predominantly government and include the Ministry of Justice, the Ministry of Education, Internal Affairs and the Electoral Commission. Marketed for sale by Peter Peeters of NAI Harcourts Whangarei.
- 57-63 Birkenhead Avenue is situated in a bustling retail hub. The property comprises a single level of retail shops fronting Birkenhead Avenue, with two basement floors overlooking Le Roys Bush Reserve. The property is 774m² with a total building floor area of 491m². There are multiple tenants, with the opportunity to restructure rentals. Marketed for sale by Isaac Tankard and Nick Young of NAI Harcourts North Shore.
- Located close to Auckland International Airport, 106 Richard Pearse Drive is a high profile industrial premises featuring warehouse (1,935m²), canopy (630m²), two storeys of office space and storage. This is a sought-after location, well serviced by a large workforce and is available for lease through NAI Harcourts North Shore Commercial.
- For sale and lease, a choice of four freehold industrial units in Hamilton’s new Te Rapa complex. Each unit at 143 Maui Street has a modern design office, carparking and warehouse. Warehouse sizes range from 295m² to 542m². Lease rates range from $51,500 per annum to $78, 500 plus GST and outgoings. Sale prices are by negotiation. Marketed by Sean Stephens and Schery John of NAI Harcourts Hamilton Commercial.
- 410-418 Colombo Street is available for lease. A commanding retail and office building with three street frontages, there are small to large tenancies available. There is approximately 840m² of retail space on the ground floor and around 2,320m² office space over five levels. Marketed by RJ Viloria and Harry Lim of Christchurch City Commercial.
- Takapuna Warehouse/Workshop – 535m²Superbly positioned on Barrys Point Road, only 3 minutes north of the Harbour Bridge, this 535m² warehouse/workshop is available now on new lease. The premises offer a split level combination of warehouse space and lower stud workshop or light manufacturing areas with access via two full height roller doors, good size mezzanine storage area plus separate office and amenities. Large rear yard with parking for 7+ cars. Key features: - Dual roller door access - Ample yard space - High and low stud storage - Easily Accessible - Available now Call now to arrange an inspection of this exceptional opportunity.
- High Profile Takapuna Showroom – 913m²Situated in the heart of sought after Barrys Point Road in Takapuna, these very smart road front showroom premises are available now on a new lease for the first time in 10 years! Offering wide street frontage with excellent exposure and large front yard for display purposes or customer parking, this building has been extensively renovated. Internal layout provides for a spacious open plan high stud showroom, open mezzanine suited for display or storage, amenities and kitchenette plus lower level warehouse storage or internal covered parking. Comprising retail showroom/amenities of approx 521m², mezzanine display/storage 177m² and lower level warehouse/garage of 215m² the premises include 6 car parks on the front yard plus 2 at the rear. Only 3 minutes north of the Harbour Bridge, Barrys Point Road is home to many outdoor sports, trade retail, automotive, furniture and service retail type uses. Call now to arrange an inspection of this exceptional opportunity.
- Takapuna Warehouse/Workshop – 544m²Superbly positioned on Barrys Point Road, only 3 minutes north of the Harbour Bridge, this 544m² warehouse/workshop is available now on new lease. The premises offer a split level combination of warehouse space and lower stud workshop or light manufacturing areas with access via two full height roller doors, good size mezzanine storage area plus separate office and amenities. Large rear yard with parking for 7+ cars. Key features: - Dual roller door access - Ample yard space - High and low stud storage - Easily Accessible - Available now Call now to arrange an inspection of this exceptional opportunity.
- Multi-tenanted Investment – Attractive Yield.This freehold Milford property is an absolute winner given its location, multiple tenancies and future re-development potential. Milford is in demand from tenants and investors alike. Situated next door to New World Supermarket this regular-shaped freehold site of 758m² (more or less) is zoned Business Town Centre allowing development up to 18 metres in height. Offering investors a potential rental of approximately $299,000pa + OPEX and GST there are 11 tenancies including retail, hospitality and offices. The seismic rating is 100% NBS on the retail portion and 95% NBS on the office. Multi tenanted and offering split risk, properties like this are keenly sought after, call today for more information. For sale by negotiation.
- The Top Spot on Victoria RoadAvailable for lease is a stunning retail shop consisting of approximately 83m² plus shared bathroom facilities with the tenancy directly behind. Positioned with fantastic exposure, located in the heart of Devonport's bustling town centre this space is ideal for a variety of uses. Take advantage of the high foot traffic and growing popularity of Devonport as a seaside destination for locals and visitors alike. This is a superb opportunity to get a prime position for the up and coming Americas Cup. Floor area: 83m² (approx.) plus a share in bathroom facilities. Features: - Wide street frontage - Light and bright retail tenancy - Close proximity to Devonport wharf - Generous street parking - Great foot traffic - Available now For more information and an appointment to view this well appointed space, please contact the SOLE AGENTS at NAI Harcourts today.
- Takapuna Retail Showroom and Warehouse – Barrys Point RdSituated in the heart of sought after Barrys Point Road in Takapuna, these large retail showroom, warehouse and office premises totalling approx. 1,462m² are available on a new lease from September 2020. Offering wide street frontage with excellent exposure and large front yard for display purposes or customer parking this building has been occupied for the last 10+ years as a successful Motorcycle Dealership providing sales, accessories and service facilities. Comprising retail showroom of approx 524m², mezzanine office 186m² and warehousing and storage of 752m² the premises include 6 car parks on the front yard, further 9 at the rear and option for additional basement car parks. Only 3 minutes north of the Harbour Bridge, Barrys Point Road is home to many outdoor sports, trade retail, automotive, furniture and service retail type uses. Call now to arrange an inspection of this exceptional opportunity.