Colliers Portfolio
Issue 6 2021
41-71 Great South Road, Ōtāhuhu, Auckland
Accelerating Success 1
Welcome to Colliers Portfolio Issue 6 Welcome to our final Colliers Portfolio for 2021 featuring a premium collection of investments, development opportunities and owneroccupier properties across New Zealand. The Auckland property investment market remains very strong in Q4 and we are looking ahead to this continuing throughout 2022. Talking to our clients throughout this period, the sentiment in the sector has continued to be positive. We put that down to our collective experiences in 2020 and knowing how strongly the market was able to rebound. Whilst the following 2-3 week period at the end of Level 4 was somewhat slower due to our inability to launch new campaigns or inspect properties, we are now seeing a deluge of stock hitting the market, particularly land, with more campaigns to come. Although inspections are more cumbersome due to compliance with Covid-19 restrictions, running campaigns remotely has become the new normal, including online marketing meetings, auctions, and negotiations. Feel free to reach out to any of our team for a more detailed discussion.
Contents
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Gareth Fraser Auckland Director | Investment Sales
Recent Portfolio Deals
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Front Cover Feature - 41-71 Great South Road, Ōtāhuhu
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Featured Properties - Premium Listings - Key Listings
06 14
Featured News & Research
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Featured Brokers
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Recent Portfolio Deals SOLD
20-24 Lorien Place, East Tamaki Sold by Todd Kuzmich & Greg Goldfinch | Colliers Auckland South
SOLD
326 Rosebank Road, Avondale Sold by Dhiru Patel & Amir Bashota | Colliers Auckland South & West
SOLD
102 Walton Park Avenue, Dunedin Sold by Matt Morton | Colliers Dunedin
SOLD
45 Greenhithe Road, Greenhithe Sold by Shoneet Chand & Matt Prentice | Colliers North Shore
SOLD
29 Lorien Place, East Tamaki Sold by Paul Higgins & James Dickey | Colliers Auckland South
SOLD
169 Captain Springs Road, Onehunga Sold by Ben Cockram, Hamish West & James Dickey |Colliers Auckland South
SOLD
7-19 Croftfield Lane, Wairau Valley Sold by Shoneet Chand & Matt Prentice | Colliers North Shore
SOLD
7B Ra Ora Drive, East Tamaki Sold by Greg Watson & Josh Franklin | Colliers Auckland South
SOLD
WAH Properties Portfolio Sold by Hamish West, Paul Higgins & Mitch Broderson | Colliers Auckland South
SOLD
16 Bassant Avenue & 18 Greenpark Road, Penrose Sold by Hamish West, James Dickey & Ben Cockram | Colliers Auckland South
SOLD
31 Shakespeare Road, Milford Sold by Shoneet Chand & Matt Prentice | Colliers North Shore
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Front Cover Feature
Boundary lines are indicative only
New 10 year Industrial Forlease Sale to Countdown
Bigger is better - massive industrial opportunity 41-71 Great South Road, Ōtāhuhu, Auckland For Sale by Expressions of Interest closing 4pm, Wednesday, 15 December 2021
Massive 4.0235ha industrial zoned site
Leaseback terms on offer
Development opportunity
Multiple street access
20,996m² net lettable area
This super-sized industrial development site in the high-growth commercial precinct of Ōtāhuhu will appeal to developers, owner-occupiers and add-value investors looking to secure a prime location for their next major project. The existing buildings are currently occupied by iconic NZ firm Sleepyhead, who will continue to occupy by way of sale leaseback (terms to be negotiated). Located between two state highways with over four hectares of land and two hectares of buildings with development upside, the possibilities are endless. Don’t rest on this one, call now!
Greg Goldfinch 021 537 682
Paul Higgins 021 549 226
colliers.co.nz/p-NZL67016947 4
This year’s dream opportunity – Sleepyhead’s HQ mega-site for sale 41-71 Great South Road, Ōtāhuhu, Auckland A multi-use mega site that is home to Sleepyhead’s Auckland headquarters in the thriving industrial hub of Ōtāhuhu has come up for sale, presenting prospective purchasers with a dream opportunity to secure a large footprint future redevelopment site in South Auckland’s industrial heartland. The land and buildings at 41-71 Great South Road, Ōtāhuhu incorporates 20,430sq m of total net lettable area spread across multiple buildings on a significant landholding of 40,235sq m that is zoned Business – Light Industry Zone under the Auckland Unitary Plan. The property is located on Great South Road and Saleyards Road, 13km from Auckland’s CBD and 11km from Auckland Airport. The site’s favourable location provides excellent connectivity to major transport linkages, including the Southern Motorway and Southwestern Motorway. Ōtāhuhu train station is approximately 1km away, servicing passengers, while freight is also catered for. The property is being offered by sale and leaseback with the terms of the leaseback to be negotiated during the sales process. Colliers Directors Greg Goldfinch and Paul Higgins have been exclusively appointed to market the property for sale and are taking expressions of interest with a deadline of 4pm on Wednesday 15 December. The property comprises a large, medium stud manufacturing and warehousing facility with two levels of offices on the end of the complex facing the Great South Road access lot, and visible from the Saleyards Road street frontage. The 15,412sq m warehouse comprises a large double gabled building running along Saleyards Road with a third gabled building along the eastern side, divided by ablutions and a cafe in an attached building totalling 1,078sq m. The office space comprises a ground floor office measuring 982sq m, a 253sq m first floor office, and a 956sq m rear office. There is a 923sq m mezzanine manufacturing area at the southern end of the building, and a 625sq m basement car park and storage area under the northern end of the third gable. The Comfort Group are a fourth-generation, family-owned business who are Australasia’s largest bedding and foam manufacturer, and includes the Sleepyhead, SleepMaker and Dunlop Foams brands.
Goldfinch, National Director of Industrial at Colliers, says Sleepyhead is a well-known Kiwi brand that has operated at this site for 25 years and during that time the property has served the business and staff incredibly well. “For eight consecutive years Kiwis have voted Sleepyhead as New Zealand’s most trusted name in beds,” Goldfinch says. “While purchasers can be rest assured in the quality of the occupier in the leaseback, the land and buildings on offer, which have been meticulously maintained, are especially set to impress. It’s incredibly rare to see a site of this scale in this location with income and future potential hit the open market. “With a leaseback in place, the new owners will be able to strategically plan their future moves for this super-site that could be repositioned into Auckland’s next high-profile industrial business park or the owner may wish to occupy the prime site themselves. “The premises could be used for offices, warehousing, distribution or manufacturing purposes.” Higgins, Director of Industrial at Colliers, says Ōtāhuhu is part of South Auckland’s busy industrial area that is a key cog in the city’s economy. “Properties in this part of Auckland are incredibly tightly held and demand is far outweighing supply currently, which leads to huge interest among a wide range of buyers,” Higgins says. “Industrial zoned land with growth potential is highly sought-after across Auckland and this property represents one of the biggest sites to hit the market this year.” Goldfinch says the vendor has advised that now is the right time to sell given the company’s significant growth during the past two decades. “As a result of this growth, the business is now operating beyond capacity at this site. The property is being sold under a leaseback agreement with the new owner while The Comfort Group’s new factory at Ohinewai in North Waikato is under construction. “This sale is part of The Comfort Group’s long-term, staged process to move its operations out of Auckland through the consolidation of all its operations at the Ohinewai site over the next few years.”
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Boundary lines are indicative only
Boundary lines are indicative only
Boundary lines are indicative only
Industrial For Sale
One Of A Kind Development Site 36 Richard Pearse Drive, Airport, Auckland For Sale by Deadline Private Treaty closing 4pm Tuesday 14 December 2021 (unless sold prior)
Z 18,752m² freehold site
Light Industry zoning
Outstanding exposure
Two road frontages of 175m total
Excellent development site
This land parcel is truly one of a kind and irreplaceable. The high profile site with outstanding exposure to SH20 George Bolt Memorial Drive on the way into Auckland International Airport is for sale for the first time in 25 years. Options are endless for a large scale Occupier who desires a new build with profile or a Developer’s / Investor’s new speculative project. This is a must view, so call the Sole Agents today.
Brad Johnston 021 409 553
Greg Goldfinch 021 537 682
Paul Jarvie 021 337 419
colliers.co.nz/p-NZL67017017 6
Commercial
Trophy Commercial Investment 33-35 & 37 Napier Road, Havelock North For Sale by Deadline Private Treaty closing 4;00pm, Thursday 2nd December 2021 (unless sold prior)
Total land area: 3,066m²
$360,171 net rental pa + GST
Essential service tenants
10 year lease to anchor tenant
Further development potential
Prime Havelock North location
Colliers have been exclusively appointed to present this trophy investment within Havelock North’s tightly held commercial precinct. The fully occupied building returns $360,171 plus GST net per annum, comprises seven tenancies including essential service medical tenant Te Mata Peak Practice who have just signed a new 10 year lease, with a further right of renewal of 10 years. Sitting adjacent to the health centre is a 3 bedroom residential dwelling offering the astute investor further development potential. Constructed in 2000, using concrete frames and shear walls, and reinforced concrete foundations, this premium offering has been built to a high standard. Situated 500 metres from the village centre of Havelock North, the property enjoys huge profile and ample onsite car parking.
Danny Blair 021 826 496
colliers.co.nz/p-NZL67016482 7
Boundary lines are indicative only
Commercial investment opportunity
Rock solid medical & legal investment - Downtown Mount Maunganui 257 Maunganui Road, Mount Maunganui For Sale by Deadline Private Treaty closing Thursday 16th December at 4pm (unless sold prior)
Strategic 1,359m² commecially zoned site
Floor area of 1,170m² over two levels
$276,265.25 pa + GST & OPEX
Secure medical/ legal tenants
Good rental growth potential
Prime Mount location
This unique medical investment opportunity is situated in the heart of the vibrant downtown Mount commercial precinct which is one of the countries most tightly held strips of land surrounded by the ocean and harbour. This substantial property offers a versatile 2 level building with ample onsite carparking which is occupied by long established medical & legal tenants. It would be very difficult to replicate this property as sites of this size and location almost never come available in this unique beachside location. If you are looking for a secure rental income with the benefit of long term capital growth this is the one for you!
Grant White 021 981 007
Simon Clark 021 959 710
colliers.co.nz/p-NZL67016801 8
Boundary lines are indicative only
Commercial investment opportunity
Motel Freehold - New 25 year lease 261 Maunganui Road, Mount Maunganui For Sale by Deadline Private Treaty closing Thursday 16th December 2021 at 4pm (unless sold prior)
Strategic 1,610m² commecially zoned site
850m² partially two level building
$225,000 pa + GST & OPEX
New 25 year lease
Great future development site
Prime Mount location
This motel freehold investment is situated in one of New Zealand’s most exclusive beachside suburbs “Mount Maunganui” and is surrounded by very unique natural features such as the beach, harbour and the Mount as well as great amenities in the downtown area of bars, restaurants, cafes and retail. This 17 unit, mostly ground-floor motel has excellent parking as well as a pool, a conference room and owner's accommodation. The property has a new 25 year initial term lease to a motel operator for long term surety of income and the very large 1,610m² site with wide road frontage and rear service lane access that will have assured capital growth over the lease term in this tightly held peninsula.
Grant White 021 981 007
Simon Clark 021 959 710
colliers.co.nz/p-NZL67017011 9
Commercial investment opportunity
New high spec building - New 9 year leases 33 Oak Lane, Judea, Tauranga For Sale by Deadline Private Treaty closing Thursday 16th December at 4pm (unless sold prior)
Floor: 981m² Land: 2,130m²
Net rental $215,000 + GST & OPEX
New 9 year leases
High profile site close to CBD
Substantial building modernisation
Excellent access to all major roadways
If you are looking for a new high-spec or newly renovated commercial building with great profile, a central location and leased on a long term basis with guaranteed rental growth then this is the one for you! This property is going to be the new trophy headquarters for Foster Construction BoP with a new high-spec two-level office block being added to the existing three commercial units. The finished building will include great harbour views as well as drive-around access, ample onsite carparking and excellent connectivity to all road ways in and around Tauranga/Mount Maunganui. This commercial location will accommodate a multitude of potential users from light industrial (trade supply) to more intensive office/showroom uses and the multi unit configuration allows further flexibility for occupiers.
Rich Davidson 027 860 9338
Simon Clark 021 959 710
colliers.co.nz/p-NZL67016995 10
BOUNDARY LINES INDICATIVE ONLY
Industrial Investment For Sale
Substantial Auckland Industrial Investment
21 Hobill Avenue, Wiri, Auckland For Sale by Deadline Private Treaty closing Thursday 9th December 2021 at 4pm (unless sold prior)
Returning $1,706,655 pa net + GST
31,134 sqm freehold title
2.5% annual rental growth
Under-rented asset – easy upside
100% leased to three established national tenants
Featuring over 3 hectares of flat land, established national tenants, and easy future rental upside, this is a quality industrial investment opportunity that must be seriously considered. Returning $1,719,137 pa net + GST, each of the three leases offer fixed 2.5% annual rental growth and market reviews on renewal. With total net lettable areas of 21,769 sqm, the property features drive around truck access and ample car parking areas, while being strategically positioned in close proximity to the motorway. Underpinned by a 3.11Ha parcel of prime, flat industrial land zoned Heavy Industry, the building is incredibly functional and benefits from sub 1.5% vacancy rates across the Auckland industrial market. Seldom do opportunities exist to purchase versatile industrial investments with excellent fundamentals in one of Auckland’s most highly sought after industrial locations.
Greg Goldfinch 021 537 682
Shoneet Chand 021 400 765
www.colliers.co.nz/p-nzl67017071
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International Tenanted Investment
Industrial Investment with New 6 Year Lease to Coca Cola 7 Waitane Place, Onekawa, Napier For Sale by Deadline Private Treaty closing 4:00pm, Thursday 16th December 2021 (unless sold prior)
$156,495 net rental pa + GST
A-Grade International tenant
Future rental growth
Quality modern building
Generous onsite parking
Premium Napier industrial location
The property is a purpose-built distribution complex for Coca Cola Amatil, now CC Europe (original tenant). The property provides high stud (6.4 metre clearance) to the portal knee coupled with excellent design allowing for permitted in/out truck access within a secure area. The property is an attractive mix of approximately 15% office/85% warehouse, plus additional canopy, yard and abundant car parking. In summary, the property is an excellent, well designed modern storage/distribution centre that meets the tenant’s requirements. The property is located in the Onekawa industrial area, which is Napier City’s primary industrial area. Waitane Place is located off Ford Road, a main internal connector road crossing Austin Street. Austin Street in turn connects Taradale Road and Prebensen Drive, which are both main arterials for Hawke’s Bay.
Danny Blair 021 826 496
Calum Ironside 027 698 6996
colliers.co.nz/p-NZL67017149
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Boundary lines indicative only
Elite Commercial Investment for Sale
Multi Tenanted Mixed Use Investment 9 Herbert Street, Waipukurau, Central Hawke’s Bay For Sale by Deadline Private Treaty, closing 4pm Wednesday 15th December 2021 (unless sold prior)
Total Net Rental: $149,737
Unmatched Profile and Street Appeal
28 On-Site Carparks
1,350m² Total Floor Area
2,216m² Total Land Area
Excellent Tenant Covenant
9 Herbert Street is one of the most recognisable and iconic properties within Waipukurau, and has been for close to two decades following a full renovation of the property in 2003/2004. The renovation involved the existing property being fully converted from a traditional sawtooth warehouse, into a wonderfully modern office space, with additional retail and office tenancies. The property provides unlimited exposure and profile, being the first and center building received when entering Waipukurau from the north. A multi tenanted investment, the properties anchor tenant is DAC Legal, plus further tenancies leased to Project Haus and Subway. Overall, the property has a total floor area of 1,350m² and freehold land area of 2,126m². The Net Rental from DAC Legal, Project Haus and Subway equates to $149,737. There is also an opportunity for the incoming vendor to add significant value, with a vacant office space + garage/storage available to be leased as one or separately.
Calum Ironside 027 698 6996
Danny Blair 021 826 496
colliers.co.nz/p-NZL67017187
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Boundary lines are indicative only
Industrial for Sale
Outstanding Auckland Airport Investment 72 Richard Pearse Drive, Airport For Sale by Deadline Private Treaty closing 4pm Tuesday 30 November 2021 (unless sold prior)
NLA Returning $419,078 net p.a. + GST
Paul Jarvie 021 337 419
Two tenants
2,669m² net lettable area
4,634m² freehold land
Drive around facility
Brad Johnston 021 409 553
colliers.co.nz/p-NZL67017005
Boundary lines are indicative only
Boundary lines are indicative only
Vacant Industrial for Sale
Unique Land Opportunity 165-167 Dominion Road, East Tā āma aki For Sale by Deadline Private Treaty closing 4pm Wed 15 December 2021 (unless sold prior)
Z Available for immediate occupation
James Dickey 021 026 81093
Two titles of 26,311m² total
Josh Franklin 021 990 714
colliers.co.nz/p-NZL67017073 14
Dual street access
Paul Jarvie 021 337 419
2 Buildings of 1,050m²
Heavy & Light Industry zoning
Tenanted Investment
High Profile Investment with ASX Listed Tenant 732 Great South Road, Penrose Auction to be held at 11am, Wednesday, 24 November 2021 (unless sold prior)
ASX ASX listed tenant
Ben Cockram 021 245 5855
Returning $273,035 net p.a. + GST
Fixed rental growth
6 year term (from Aug 2020)
High profile to Great South Road
Matt Prentice 021 464 904
colliers.co.nz/p-NZL67016822
Boundary lines are indicative only
Industrial Investment
Rare + Modern = Opportunity 521 Rosebank Road, Avondale For Sale by Auction at 11am Wed 24 November 2021 (unless sold prior)
Z 1,070m² net lettable area
Dhiru Patel 021 340 780
Prime Rosebank location
Jack Tuson 027 448 1148
Returning $133,430 net p.a. + GST
Potential for future rental growth
Light Industry zoning
Matt Prentice 021 464 904
colliers.co.nz/p-NZL67016907 15
Boundary lines are indicative only
Sole Agency
Massive Redevelopment Potential 3 Zelanian Drive, East Tāmaki For Sale by Deadline Private Treaty closing Wed 8 Dec 2021 at 4pm (unless sold prior)
Z
NLA 8,612m² freehold site
Paul Higgins 021 549 226
2,850m² floor area
Greg Goldfinch 021 537 682
Returning $353,000 net p.a. + GST
Potential for development or to occupy
Heavy Industry zoning
Josh Franklin 021 990 714
colliers.co.nz/p-NZL67017076
NATIONAL TENANT
A Grade Passive Investment Opportunity 160 Bairds Road, Ōtara For Sale by Price by Negotiation
Net rental of $165,000 + GST pa
Matthew Barnes 021 828 563
Long term lease 15 year inital term
National tenant
Tony Marsh 021 141 2072
Shoneet Chand 021 400 765
colliers.co.nz/p-NZL67014278 16
2,004m² freehold title
High profile corner site
Fixed annual rental increases
Boundary Lines are indicative
FOR SALE
Land Bank Opportunity in Central Grey Lynn 38 Sackville Street, Grey Lynn For Sale by Deadline Private Treaty closing Thursday 9th December 2021 (unless sold prior)
Z 1,597m² Freehold Land
Ronal Prasad 021 232 1192
Future Development Potential
Residential Mixed Housing Urban Zone
Grey Lynn Location
Extremely Rare Offering
Jonathan Lynch 021 900 611
colliers.co.nz/p-NZL67016985
Boundary Lines are indicative
FOR SALE
Tenanted Investment Located in the Heart of Pukekohe 3 West Street, Pukekohe For Sale by Deadline Private Treaty closing Wednesday 8th December 2021 at 4pm (unless sold prior)
Z Split risk 3 tenancies
Tony Marsh 021 141 2072
276m² Freehold Site
High Profile Corner Site
Tightly Held Location
Zoned Business Town Centre
Matthew Barnes 021 828 563
colliers.co.nz/p-NZL67017008 17
Boundary lines indicative only
Massey Road Masterpiece
Popular Retail Hub with Upside and Large Landholding 461 Massey Road, Mā āngere East, Manukau City For Sale by Auction Wednesday 15 Dec 2021 at 1:30pm (unless sold prior)
Three established retail stores
Ned Gow 021 122 2731
Large 1,765m2 freehold site
Combined Return of $127,811 + GST net p.a.
Gawan Bakshi 021 31 31 48
Business zoned with subdivision potential
Strategic location on main arterial next to motorway
Ryan Gibb 021 826 421
colliers.co.nz/p-NZL67017077
Rare Opportunity
Modern Industrial Investment Opportunity 10b Strathallan Street, Dunedin For Sale by Deadline Private Treaty closing Wed 8 December 2021 at 4pm (unless sold prior)
Rental of $73,000pa plus GST
Freehold tenure
Dean Collins 027 499 0974
colliers.co.nz/p-NZL67017141 18
Site area 1,060m² (more or less)
New 6 year lease from 1-Nov-2021
Well known and established tenant
Residential Development
Large City Fringe Site - First time to market in 80 years 34A & 36 Athens Road, Onehunga, Auckland For Sale by Expressions of Interest closing Thursday 2 Dec 2021 at 4pm (unless sold prior)
Z Developable 2,820m²
Josh Coburn 021 990 691
Prime Onehunga Location
James Appleby 021 817 366
Huge Potential Income - 8 units
Residential - Mixed Housing Suburban
Easy access to public transport & motorways
Connor Glengarry 021 846 059
colliers.co.nz/p-NZL67016900
Boundary lines are indicative only
Tenanted Investment for Sale
Road Front Industrial with Income 39C Rennie Drive, Airport Auction to be held at 11am Thursday 16 December 2021 at Colliers Highbrook (unless sold prior)
Z
NLA 416m² net lettable area
Tom Peterson 021 186 4489
Returning $70,000 net p.a. + GST
9 car parks
Great exposure
Light Industry zoning
Mitch Broderson 021 166 7225
colliers.co.nz/p-NZL67017186 19
Boundary lines are indicative only
Industrial for Sale
Land and Income 18 Ash Road, Wiri For Sale by Deadline Private Treaty closing 4pm Wed 8 December 2021 (unless sold prior)
Z
NLA 2,851m² net lettable area
Paul Jarvie 021 337 419
12,990m² freehold site
Returning $576,696 net p.a. + GST
Split-risk - Three tenancies
Heavy Industry zoning
Ash Vincent 021 442 201
colliers.co.nz/p-NZL67016201
Boundary lines are indicative only
Industrial for Sale
Split Risk with Upside 30B Allens Road, East Tā āmaki Auction to be held at 11am Thursday 16 December 2021 (unless sold prior)
Z
NLA 424m² net lettable area
Greg Watson 021 083 13534
Suitable for occupiers & investors
James Dickey 021 026 81093
colliers.co.nz/p-NZL67017117 20
Returning $59,232 net p.a. + GST
Recently refurbished
Heavy Industry zoning
Residential Development
New Lynn Development Site with Income 68 & 68A Titirangi Road, New Lynn For Sale by Deadline Private Treaty closing Thursday 9 Dec 2021 at 4pm (unless sold prior)
4,588m² Site
James Appleby 021 817 366
Currently Returning $199k from 9 Units
Prime New Lynn Location
Josh Coburn 021 990 691
Residential - Mixed Housing Urban
1,500m from New Lynn Train Station
Connor Glengarry 021 846 059
colliers.co.nz/p-NZL67017062
Featured News & Research Vast industrial property on offer in sought-after Wiri 21 Hobill Avenue, Wiri The land and buildings of a super-sized industrial site with three established tenants in Wiri are up for sale presenting prospective purchasers with an enticing split-risk investment opportunity in one of South Auckland’s most sought-after industrial hubs. 21 Hobill Avenue, Wiri has 15,706sq m of total net lettable area and approximately 5,900sq m of yard space on 31,134sq m of land that is zoned Business – Heavy Industry Zone under the Auckland Unitary Plan. The site has a flat contour and drive around access providing convenience for its tenants Fruehauf NZ Limited, Fletcher Steel Limited, and Nauhria Precast Limited. The total net annual rental income for the property is $1,719,137 Hobill Avenue, which runs off the busy Wiri Station Road, enjoys excellent access to major arterial routes,
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including State Highway 1 and State Highway 20, and benefits from the recent development of the Waterview Tunnel. Colliers Directors Greg Goldfinch and Shoneet Chand have been exclusively appointed to market the property for sale by deadline private treaty closing at 4pm on Thursday 9 December, unless sold prior. Fruehauf is the road-front tenant and leases a 5,775sq m double gable warehouse with a 53sq m warehouse office, a 979sq m single gable warehouse, 770sq m office, 91sq m of amenities, 328sq m of canopy, and two asphalt sealed yards totalling 2,834sq m. They are in the midst of a 12-year lease that expires on 31 July 2027. There are two further rights of renewal for six years each. Their lease provides $956,697 in net annual rental income and includes annual increases of 2.5 per cent. Fletcher Steel leases the 4,145sq m central warehouse, that is separated from the Fruehauf tenancy by an inter-tenancy wall, which includes a 320sq m office as part of their six-year agreement that ends on 31 July 2022. Fletchers have a 1,897sq m yard, which has
Featured News & Research recently been resealed. There are two further rights of renewal for three years each and their lease provides $442,066 in net annual rental income. There will be a market rent review on renewal. Nauhria Precast leases the 2,733sq m rear warehouse and 512sq m of office space that includes a boardroom, kitchenette, and associated amenities, alongside a 1,170sq m yard. Their current agreement ends on 30 November 2022 with two further rights of renewal for six years each. Their lease provides $320,374 in net annual rental income and includes fixed annual increases of 2.5 per cent. Goldfinch, National Director of Industrial at Colliers, says the highly functional property provides a steady rental stream and huge land value. “This is a highly visible site that offers excellent usability for its occupants given the full drive around access and high stud warehouses,” Goldfinch says. “Wiri is a sought-after industrial precinct in Auckland that is home to a number of large-scale industrial operators, including The Warehouse, Frucor, Americold, and Orora to name a few, while the site neighbours are the well-known Bluebird Foods. “With increased roading infrastructures, including the signalisation of Kerrs Road and Druces Road, the property is well situated in the heart of Wiri and provides a unique opportunity when looking to expedite travel times on the surrounding motorway network.” Chand, Director of Investment Sales at Colliers, says the property will hold significant appeal to a wide range of purchasers looking to secure a premier industrial asset. “Buyers will be drawn to the strong tenant covenants on offer and, when appropriate, a review of rental rates could be considered due to the potential under-renting given the extraordinary demand for high-quality industrial sites in South Auckland,” Chand says. “This property will generate strong interest given the sheer scale of its land and buildings, while being situated in one of Auckland’s most tightly held locations.” The Business – Heavy Industry Zone provides for industrial activities that may produce objectionable odour, dust, and noise emissions. Air quality emissions standards that are different to the rest of Auckland will often apply. A key attribute of the zone is that it contains sites large enough to accommodate large-scale industrial activities.
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New Zealand Research Report November 2021 Property sector surveys paint positive story, but challenges emerge Despite a reimposition of COVID-19 enforced restrictions, a changing regulatory backdrop and an upward trajectory for interest rates, respondents to two of our latest national surveys anticipate property market activity to perform well over the next 12 months, albeit some new challenges are emerging.
Investor confidence remains resilient In June 2020, investor confidence in the commercial office, retail and industrial property sectors declined to a net negative 19%. Investors were reacting to the significant uncertainty caused by New Zealand being forced into its first Alert Level 4 lockdown. Fast forward to the latest September 2021 survey results, and despite another lockdown during the survey period, investor confidence is at a net positive 27%. While the score has declined from the record set in the June 2021 survey of 38%, the result highlights investors remain confident in the economy, the property sector’s long-term fundamentals and the return performance expected over the next 12 months.
Industrial still top of the pops Investor confidence in the industrial sector’s performance increased further in the latest survey, reaching a net positive 69%, the highest rating recorded since the inception of the survey since the GFC. The national office sector result paints a positive picture also, recording a net positive score of 21%, a significant rise on the September 2020 result of a net negative 24%. Wellington’s office market had the highest proportion of positive responses with a net positive 43% recorded, up from a net negative 3% recorded in September 2020. The reimposition of trading restrictions in some locations has led to a drop in sentiment in the retail sector again, which had been building on the back of a stronger economy and the surge in retail spending activity. The September 2021 quarter result was a net negative 28%, and while down, the result remains well ahead of the net negative 53% recorded in the September 2020 survey.
claiming the top spot. Sentiment lifted to a net positive 42% which was just enough to move the city to second spot, pushing Hamilton into third with a net positive score of 41%.
Interest rates and end of lockdowns major influences Survey respondents are also asked to also outline their thoughts on positive and negative influences for the sectors over the year ahead.
Similar trends in play across the nation For the second time ever, and occurring in consecutive quarters, all regions recorded net positive scores, and all results were better than recorded a year prior. Across the three major centres, Wellington led the way with a net positive rating of 30%. Auckland recorded a net positive 17%, which was marginally ahead of Christchurch at a net positive 16%. Regionally, investor confidence hotspots included Tauranga and Dunedin with both locations registering a lift in confidence over the September quarter. Tauranga’s rating increased to a net positive 59% in September.
The increase in vaccination rates, both locally and internationally, was the most prevalent theme when considering positive market influences. The reduced likelihood of future lockdowns, the return of international tourists and the ability of migrants to enter the country to reduce staff and skills shortages and boost demand, were cited by a number of respondents as positive market influences. The prospect of higher interest rates was the most commonly cited negative influence on sector performance. Survey responses were received prior to the October increase in the OCR, however the move had been well signalled by the Reserve Bank and economists. The rise in interest rates underway will likely see add more caution to investment decision making and sentiment over the next 12 months. To view the full report for November, visit colliers.co.nz/research.
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Featured Brokers About Danny has progressively established his position in the Hawke’s Bay commercial property market as ‘the top broker’ across the region. He has been the lead broker on some of the largest transactions in the Hawke’s Bay property market over the last five years, including The Tomoana Food Hub, which sold in excess of $40m+, this was the largest industrial sale in Hawke’s Bay’s history at the time.
Danny Blair Broker | Hawke’s Bay Mobile: 021 826 496 danny.blair@colliers.com
Further sales include 37 Johnston Way, Hastings which recently sold at a record yield of 4.95%. Danny has sold in excess of $300M worth of commercial real estate within the Hawke’s Bay region alone. In 2016, 2017, 2018 and 2020 Danny was awarded Colliers top broker in Hawke’s Bay.
Achievements $300m+ in deals overall in Hawke’s Bay
Hawke’s Bay Specialist
Listings featured in this Portfolio
Colliers top broker 2020 Hawke’s Bay
- 33-35 & 37 Napier Road, Hawke’s Bay - 9 Herbert Street, Hawke’s Bay - 7 Waitane Place, Hawke’s Bay
About Calum specialises in Industrial sales and leasing with the wider Hawke’s Bay & Taupo markets. Since joining Colliers in 2019, Calum has quickly become a leading Industrial & Commercial broker within the Hawke’s Bay team.
Calum Ironside Broker | Hawke’s Bay Mobile: 027 698 6996 calum.ironside@colliers.com
Achievements Over $40m in deals
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REINZ Commercial & Industrial Rising Star of the Year 2021
Having a standout year in 2019-2020, he was named Colliers Rookie and Team Player of the Year. He has made Napier Industrial his own, being involved in close to 65% of all sales and the vast majority of leasing activity. In September of 2021, Calum was awarded the REINZ National Commercial & Industrial Rising Star of the year award, given to the commercial broker with the highest total commission within their first 24 months as a broker. Calum can now proudly state he has brokered over $40million in transactions. He has quickly become one of Hawke’s Bay’s top industrial specialists, with clients appreciating his ability to network effectively. A confident and personable broker, Calum brings an enthusiastic and analytical approach, and now an impressive track record.
Listings featured in this Portfolio Colliers Rookie of the Year 2020
- 7 Waitane Place, Hawke’s Bay - 9 Herbert Street, Hawke’s Bay
About Greg specialises in the mid to upper end of the Industrial sale and leasing markets. He joined Colliers in 2004, coming from a policing background. He quickly established strong relationships within the industrial market and has worked exclusively for the likes of Fisher & Paykel, The Warehouse, Freedom Furniture, Fletchers, NZ Police, NZ Guardian Trust, Goodyear Dunlop NZ Ltd and Mercedes-Benz to name a few.
Greg Goldfinch National Director | Industrial Auckland South Mobile: 021 537 682 greg.goldfinch@colliers.com
Greg has been the lead broker on nearly all of the largest transactions in the industrial property market over the last ten years. Greg has completed three of the largest industrial sales ever in the New Zealand market. He is a regular top 10 broker for Colliers across NZ having transacted in excess of $6 billion worth of industrial real estate in his time with Colliers.
Achievements $6b in deals overall
Listings featured in this Portfolio
REINZ Commercial & Industrial Salesperson of the Year 2021
Colliers top broker 2018 2021
- 41-71 Great South Road, Ōtāhuhu - 36 Richard Pearse Drive, Māngere - 21 Hobill Avenue, Wiri - 3 Zelanian Drive, East Tāmaki
About Shoneet has been involved in selling investment property for over 13 years and since 2015 he has been a Director in the Investment Sales Team at Colliers, specialising in Investment & Development Sales across the wider Auckland region.
Shoneet Chand Director | Investment Sales North Shore Mobile: 021 400 765 shoneet.chand@colliers.com
Achievements
Shoneet has been the top broker in his market for both 2014 and 2015 while also placing in the top 10 brokers nationwide again for Colliers in 2016. In 2017, Shoneet transacted over $260 million of property and was ranked 2nd in New Zealand. He was the top broker at Colliers in the 2018 financial year and a finalist for the Commercial & Industrial Salesperson of the Year award, which is judged nationwide across all agencies. In both 2019 & 2020 he was again ranked in the top 5 brokers nationwide for Colliers and was involved in over $300 million & $325 million of sales in each calendar year. Over the past six years, he has transacted over $1.5 bwillion dollars in sales.
Listings featured in this Portfolio Over $2b in deals overall
$325m of sales in 2020
Colliers top 5 broker 2020
Investment & Development Sales specialist
- 21 Hobill Avenue, Wiri
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Featured Brokers About Paul joined Colliers in 2005 working in Auckland’s industrial team specialising in the mid to upper end sales and leasing market. Paul has also spent a couple of years working for Colliers in the Central and Eastern Europe market where he was Director of Poland’s Krakow office. In 2010 Paul returned to Auckland to again work in Auckland’s industrial market.
Paul Higgins Director | Industrial Auckland South Mobile: 021 549 226 paul.higgins@colliers.com
Since joining Colliers Paul has worked on a number of large sales and leasing transactions working with companies such as Geon Group, Coke, Delphi, Motorola, Goodyear, Ceva, ITW, Goodman, ING plus many others.
Achievements
Listings featured in this Portfolio - 41-71 Great South Road, Ōtāhuhu - 3 Zelanian Drive, East Tāmaki
$3.5b sales overall
$150m of sales in 2020
Colliers East Tamaki Expert
About Brad initially specialised in the selling and leasing of industrial property and land at Auckland International Airport and its surrounding areas. He quickly formed relationships with Goodman, an Australian-based listed trust, Auckland International Airport Limited and numerous other high profile developers, owners and major users.
Brad Johnston Director | Industrial Auckland South Mobile: 021 409 553 brad.johnston@colliers.com
Brad is consistently a top performer in the Colliers Industrial Team. He has worked for numerous multi national corporations implementing their property strategies. Most notably Downer NZ. He has also completed sales transactions for Z Energy, Plumbing World and McDonalds Restaurants. Brad has transacted more space at the Auckland Airport industrial precinct than any other commercial agent.
Achievements
Listings featured in this Portfolio - 36 Richard Pearse Drive, Māngere - 72 Richard Pearse Drive, Māngere
$3b in sales overall
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Colliers top 20 broker 2020
16+ years’ experience as an industrial broker
About Paul specialises in the mid-upper end of the sales and leasing industrial market and in particular has a strong knowledge of the Auckland Airport area. As a result Paul has developed an extensive network of developers, investors, owner occupiers, and has an extensive lessee database. Major clients include Goodman, AIAL, Waste Management, Bidfood and Trust Management.
Paul Jarvie Director | Industrial Auckland South Mobile: 021 337 419 paul.jarvie@colliers.com
Paul has sold and leased a number of industrial properties throughout the Central and South Auckland Industrial precincts. Paul has also completed a significant number of sale and leaseback campaigns over the last five years, including; Synlait, Asmuss Steel, McConnell Dowell, Go Bus, Aquaflow, Farmgard, Cardinal Logistics, Royal Wolf and Bidfood. Paul has developed outstanding relationships in the South Auckland industrial property market.
Achievements 17+ years’ experience as an industrial broker
$2.5b+ transactions
Listings featured in this Portfolio - 36 Richard Pearse Drive, Māngere - 72 Richard Pearse Drive, Māngere - 18 Ash Road, Wiri
Top 20 highest revenue earner 2020
Lucy Mackenzie Broker | Office Leasing Auckland CBD
Tom Peterson Broker | Industrial Auckland South
Zoe Hall Broker | Retail Leasing Auckland CBD
Amir Bashota Broker Auckland West
Daniel Sloper Broker Whangārei
Judy Nguyen Project Sales Assistant Auckland CBD
James Dickey Broker | Industrial Auckland South
Ainsley Lewis Project Sales Consultant Auckland CBD
James Valentine Broker | Industrial Auckland South
Helen Hollis Retail Leasing Director Auckland CBD
New Talent 2021
Colliers Auckland welcomes its new brokers Licensed REAA 2008
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Licensed REAA 2008
HSBC Tower, Level 23 188 Quay Street Auckland 1010 portfolio.colliers.co.nz *This document has been prepared by Colliers New Zealand for advertising and general information only. Colliers New Zealand does not guarantee, warrant or represent that the information contained in this document is correct. November 2021
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