• Members of the Colliers North Shore and Simpson Western teams.

Significant sales by Colliers North Shore team

The Colliers North Shore team has experienced a high level of activity as we head into the final quarter of 2018.  Significant sales have included The Warehouse at 11 Coliseum Drive, Albany to Argosy for $26.4M at 5% yield, and 44 Arrenway Drive, Albany, a 3972 sqm industrial building occupied by Navico which sold at 5.88% for $13,117,116.   Another large industrial property comprising 6,813 sqm at 13 William Pickering, North Harbour sold at 5.24% for $11.4M.  These sales were transacted by Matt Prentice and Shoneet Chand.

Successful sales by auction were 11 Colway Place at 5.37% for $1.9M and 42 & 44 Barrys Point Road, total land area of 1159 sqm sold for $2.7M.  An existing medical premises with a residential flat located on a freehold 828 sqm corner site at 25 Bracken Avenue, Takapuna sold for $2.7M.

A number of vacant office sales proved that the owner occupier demand is high with Unit E5, 27-29 William Pickering selling at $950K and Unit 2G, 3 Ceres Court, a 115 sqm first floor office for $565K.

The tenant demand for property remains intense with multiple lease offers on properties.  At 35 Arrenway Drive, 3100 sqm has been leased.

At 10-12 Rothwell Avenue, North Harbour 900 sqm leased to The Warehouse and a further 800 sqm at 16B Parkhead Place has been leased to a flooring importer.

Colliers is pleased to relocate Kalmar Construction to 4 Fred Thomas where they have leased over 600 sqm of office.  We are delighted to welcome back Paper Plus, they have leased the ex Home Fabrics tenancy at 28 Hurstmere Road, Takapuna.  The 450 sqm ground floor retail tenancy is currently undergoing tenant’s works, and we look forward to welcoming them back to Hurstmere Road.

Of course the Colliers team values our clients and we hosted some of the commercial property team from Simpson and Western lawyers.  It is great to connect with like-minded colleagues in our own “backyard” who share our values.

Finally we congratulate Janet Marshall who has been nominated onto the Takapuna Beach Business Association board.  After 6 years on the Business North Harbour executive, Janet is excited to support the TBBA. Colliers International has been a Gold Sponsor for a number of years and we look forward to supporting the local community.


By: , Commercial Property with Jimmy O'Brien, Colliers North Shore
jimmy.obrien@colliers.com

Issue 93 November 2018