NZ Herald
  • Home
  • Latest news
  • Herald NOW
  • Video
  • New Zealand
  • Sport
  • World
  • Business
  • Entertainment
  • Podcasts
  • Quizzes
  • Opinion
  • Lifestyle
  • Travel
  • Viva
  • Weather

Subscriptions

  • Herald Premium
  • Viva Premium
  • The Listener
  • BusinessDesk

Sections

  • Latest news
  • New Zealand
    • All New Zealand
    • Crime
    • Politics
    • Education
    • Open Justice
    • Scam Update
  • Herald NOW
  • On The Up
  • World
    • All World
    • Australia
    • Asia
    • UK
    • United States
    • Middle East
    • Europe
    • Pacific
  • Business
    • All Business
    • MarketsSharesCurrencyCommoditiesStock TakesCrypto
    • Markets with Madison
    • Media Insider
    • Business analysis
    • Personal financeKiwiSaverInterest ratesTaxInvestment
    • EconomyInflationGDPOfficial cash rateEmployment
    • Small business
    • Business reportsMood of the BoardroomProject AucklandSustainable business and financeCapital markets reportAgribusiness reportInfrastructure reportDynamic business
    • Deloitte Top 200 Awards
    • CompaniesAged CareAgribusinessAirlinesBanking and financeConstructionEnergyFreight and logisticsHealthcareManufacturingMedia and MarketingRetailTelecommunicationsTourism
  • Opinion
    • All Opinion
    • Analysis
    • Editorials
    • Business analysis
    • Premium opinion
    • Letters to the editor
  • Politics
  • Sport
    • All Sport
    • OlympicsParalympics
    • RugbySuper RugbyNPCAll BlacksBlack FernsRugby sevensSchool rugby
    • CricketBlack CapsWhite Ferns
    • Racing
    • NetballSilver Ferns
    • LeagueWarriorsNRL
    • FootballWellington PhoenixAuckland FCAll WhitesFootball FernsEnglish Premier League
    • GolfNZ Open
    • MotorsportFormula 1
    • Boxing
    • UFC
    • BasketballNBABreakersTall BlacksTall Ferns
    • Tennis
    • Cycling
    • Athletics
    • SailingAmerica's CupSailGP
    • Rowing
  • Lifestyle
    • All Lifestyle
    • Viva - Food, fashion & beauty
    • Society Insider
    • Royals
    • Sex & relationships
    • Food & drinkRecipesRecipe collectionsRestaurant reviewsRestaurant bookings
    • Health & wellbeing
    • Fashion & beauty
    • Pets & animals
    • The Selection - Shop the trendsShop fashionShop beautyShop entertainmentShop giftsShop home & living
    • Milford's Investing Place
  • Entertainment
    • All Entertainment
    • TV
    • MoviesMovie reviews
    • MusicMusic reviews
    • BooksBook reviews
    • Culture
    • ReviewsBook reviewsMovie reviewsMusic reviewsRestaurant reviews
  • Travel
    • All Travel
    • News
    • New ZealandNorthlandAucklandWellingtonCanterburyOtago / QueenstownNelson-TasmanBest NZ beaches
    • International travelAustraliaPacific IslandsEuropeUKUSAAfricaAsia
    • Rail holidays
    • Cruise holidays
    • Ski holidays
    • Luxury travel
    • Adventure travel
  • Kāhu Māori news
  • Environment
    • All Environment
    • Our Green Future
  • Talanoa Pacific news
  • Property
    • All Property
    • Property Insider
    • Interest rates tracker
    • Residential property listings
    • Commercial property listings
  • Health
  • Technology
    • All Technology
    • AI
    • Social media
  • Rural
    • All Rural
    • Dairy farming
    • Sheep & beef farming
    • Horticulture
    • Animal health
    • Rural business
    • Rural life
    • Rural technology
    • Opinion
    • Audio & podcasts
  • Weather forecasts
    • All Weather forecasts
    • Kaitaia
    • Whangārei
    • Dargaville
    • Auckland
    • Thames
    • Tauranga
    • Hamilton
    • Whakatāne
    • Rotorua
    • Tokoroa
    • Te Kuiti
    • Taumaranui
    • Taupō
    • Gisborne
    • New Plymouth
    • Napier
    • Hastings
    • Dannevirke
    • Whanganui
    • Palmerston North
    • Levin
    • Paraparaumu
    • Masterton
    • Wellington
    • Motueka
    • Nelson
    • Blenheim
    • Westport
    • Reefton
    • Kaikōura
    • Greymouth
    • Hokitika
    • Christchurch
    • Ashburton
    • Timaru
    • Wānaka
    • Oamaru
    • Queenstown
    • Dunedin
    • Gore
    • Invercargill
  • Meet the journalists
  • Promotions & competitions
  • OneRoof property listings
  • Driven car news

Puzzles & Quizzes

  • Puzzles
    • All Puzzles
    • Sudoku
    • Code Cracker
    • Crosswords
    • Cryptic crossword
    • Wordsearch
  • Quizzes
    • All Quizzes
    • Morning quiz
    • Afternoon quiz
    • Sports quiz

Regions

  • Northland
    • All Northland
    • Far North
    • Kaitaia
    • Kerikeri
    • Kaikohe
    • Bay of Islands
    • Whangarei
    • Dargaville
    • Kaipara
    • Mangawhai
  • Auckland
  • Waikato
    • All Waikato
    • Hamilton
    • Coromandel & Hauraki
    • Matamata & Piako
    • Cambridge
    • Te Awamutu
    • Tokoroa & South Waikato
    • Taupō & Tūrangi
  • Bay of Plenty
    • All Bay of Plenty
    • Katikati
    • Tauranga
    • Mount Maunganui
    • Pāpāmoa
    • Te Puke
    • Whakatāne
  • Rotorua
  • Hawke's Bay
    • All Hawke's Bay
    • Napier
    • Hastings
    • Havelock North
    • Central Hawke's Bay
    • Wairoa
  • Taranaki
    • All Taranaki
    • Stratford
    • New Plymouth
    • Hāwera
  • Manawatū - Whanganui
    • All Manawatū - Whanganui
    • Whanganui
    • Palmerston North
    • Manawatū
    • Tararua
    • Horowhenua
  • Wellington
    • All Wellington
    • Kapiti
    • Wairarapa
    • Upper Hutt
    • Lower Hutt
  • Nelson & Tasman
    • All Nelson & Tasman
    • Motueka
    • Nelson
    • Tasman
  • Marlborough
  • West Coast
  • Canterbury
    • All Canterbury
    • Kaikōura
    • Christchurch
    • Ashburton
    • Timaru
  • Otago
    • All Otago
    • Oamaru
    • Dunedin
    • Balclutha
    • Alexandra
    • Queenstown
    • Wanaka
  • Southland
    • All Southland
    • Invercargill
    • Gore
    • Stewart Island
  • Gisborne

Media

  • Video
    • All Video
    • NZ news video
    • Herald NOW
    • Business news video
    • Politics news video
    • Sport video
    • World news video
    • Lifestyle video
    • Entertainment video
    • Travel video
    • Markets with Madison
    • Kea Kids news
  • Podcasts
    • All Podcasts
    • The Front Page
    • On the Tiles
    • Ask me Anything
    • The Little Things
  • Cartoons
  • Photo galleries
  • Today's Paper - E-editions
  • Photo sales
  • Classifieds

NZME Network

  • Advertise with NZME
  • OneRoof
  • Driven Car Guide
  • BusinessDesk
  • Newstalk ZB
  • Sunlive
  • ZM
  • The Hits
  • Coast
  • Radio Hauraki
  • The Alternative Commentary Collective
  • Gold
  • Flava
  • iHeart Radio
  • Hokonui
  • Radio Wanaka
  • iHeartCountry New Zealand
  • Restaurant Hub
  • NZME Events

SubscribeSign In
Advertisement
Advertise with NZME.
Home / Property

Takapuna stand out back on the market

NZ Herald
10 May, 2014 01:49 AM4 mins to read

Subscribe to listen

Access to Herald Premium articles require a Premium subscription. Subscribe now to listen.
Already a subscriber?  Sign in here

Listening to articles is free for open-access content—explore other articles or learn more about text-to-speech.
‌
Save

    Share this article

The building has great views and plenty of attractive exterior space.

The building has great views and plenty of attractive exterior space.

It was sold two years ago, now the former North Shore City Council HQ is available again - through the same agent

Auckland Council's former North Shore headquarters and now one of Takapuna's premier commercial buildings is being sold for the second time in two years by the same agent.

"The sale of 1-7 The Strand provides a rare opportunity to invest in one of the largest blue-chip properties in suburban Auckland," says John Binning, director of capital markets for JLL, who is selling the property via an expressions of interest campaign closing on Wednesday June 4.

Binning, who also sold the complex in 2012, says the property is on a high profile corner site at the junction of The Strand, Hurstmere Rd and Lake Rd which are the main commercial streets in Takapuna.

"Only 200m from Takapuna Beach, it encompasses an outside plaza that is the largest in Takapuna, giving wonderful light and space around the buildings for ease of pedestrian movement and retail exposure. An open space restaurant which is well patronised occupies a prime position on the plaza."

Advertisement
Advertise with NZME.
Advertisement
Advertise with NZME.

The four-storey office and retail building with views to Rangitoto Island has 15,000sq m of office and retail space and 312 car parks.

"Because of the surge in interest in the New Zealand property market from international and local investors and a lack of comparable A-grade investment opportunities, we are expecting the sale to generate interest from a broad range of investors," says Binning.

"Being close to the seafront gives the office levels outstanding views over Takapuna Beach and out to Auckland's Hauraki Gulf Islands, while other floors have views over the North Shore to the Auckland CBD."

He says the owner, King Khoo, is taking advantage of a strong New Zealand property market to sell the property and "realign his portfolio" - changing his focus from passive to active investments.

Advertisement
Advertise with NZME.

The property, a block back from Takapuna Beach, was sold to Khoo two years ago for $71 million by North Shore investors Andrew Holliday and Ian Wills.

Through their Pi Capital Investments Group, Holliday and Wills spent $15 million on a refurbishment including adding a 4400sq m four-level office extension and three levels of car parks.

The building was given a four-star green design-and-built rating by the Green Building Council because of sustainability initiatives including rainwater harvesting, energy-saving heating, ventilation, light fittings and controls, in the extension.

Binning says value in the building will be driven by the likelihood of rental increases and the future commitments of tenants because of a lack of comparable properties.

Discover more

New Zealand

Inflated property values in Auckland

10 May 05:00 PM
Business

Confidence in capital markets lifts

20 May 05:30 PM

Eighty-six per cent of the property is leased to the Auckland Council on a 12 year lease that started in 2009 and has two renewal terms of three years each.

"Because of the long-term tenancies, the property's waterfront location and its redevelopment potential, the four main New Zealand banks will be pleased to lend against this property at a high loan to valuation ratio and at the low end of lending margins," says James Kellow from New Zealand Mortgages and Securities who is advising the vendor.

Binning says rents are increasing in Takapuna and have gone up 1.3 per cent over the last six months indicating a strong commercial property market momentum.

"The prime office market in Auckland is at the beginning of a significant uplift in occupier activity," he says. "Our research forecasts that rents for suburban offices driven by sound economic momentum, will increase some 25 to 30 per cent to a market peak, providing a strong impetus for investors to enter the market."

He says Statistics New Zealand confirms that the the Devonport-Takapuna local board area is projected to have some of the fastest population growth rates within the North Shore and Auckland region between 2016 and 2026 with a projected 20 per cent increase.

JLL's latest Pulse newsletter says investor interest in the North Shore/Takapuna area is strengthening.

Advertisement
Advertise with NZME.
Save

    Share this article

Latest from Property

Property

Mega-mortgagee sale: Who has $60m to buy an entire apartment block?

05 Jul 07:56 AM
Property

Real estate agent sells Kawau Island homes while sailing the South Pacific

05 Jul 07:45 AM
Property

Historic mansion for sale after overseas owner abandons renovation

05 Jul 07:40 AM

Audi offers a sporty spin on city driving with the A3 Sportback and S3 Sportback

sponsored
Advertisement
Advertise with NZME.

Latest from Property

Mega-mortgagee sale: Who has $60m to buy an entire apartment block?

Mega-mortgagee sale: Who has $60m to buy an entire apartment block?

05 Jul 07:56 AM

Overseas buyers eye 46 newly completed units in Auckland's Takapuna.

Real estate agent sells Kawau Island homes while sailing the South Pacific

Real estate agent sells Kawau Island homes while sailing the South Pacific

05 Jul 07:45 AM
Historic mansion for sale after overseas owner abandons renovation

Historic mansion for sale after overseas owner abandons renovation

05 Jul 07:40 AM
‘100% now is the time’: Prices drop by as much as $300,000 in heritage suburbs

‘100% now is the time’: Prices drop by as much as $300,000 in heritage suburbs

04 Jul 07:05 PM
Gold demand soars amid global turmoil
sponsored

Gold demand soars amid global turmoil

NZ Herald
  • About NZ Herald
  • Meet the journalists
  • Newsletters
  • Classifieds
  • Help & support
  • Contact us
  • House rules
  • Privacy Policy
  • Terms of use
  • Competition terms & conditions
  • Our use of AI
Subscriber Services
  • NZ Herald e-editions
  • Daily puzzles & quizzes
  • Manage your digital subscription
  • Manage your print subscription
  • Subscribe to the NZ Herald newspaper
  • Subscribe to Herald Premium
  • Gift a subscription
  • Subscriber FAQs
  • Subscription terms & conditions
  • Promotions and subscriber benefits
NZME Network
  • The New Zealand Herald
  • The Northland Age
  • The Northern Advocate
  • Waikato Herald
  • Bay of Plenty Times
  • Rotorua Daily Post
  • Hawke's Bay Today
  • Whanganui Chronicle
  • Viva
  • NZ Listener
  • Newstalk ZB
  • BusinessDesk
  • OneRoof
  • Driven Car Guide
  • iHeart Radio
  • Restaurant Hub
NZME
  • About NZME
  • NZME careers
  • Advertise with NZME
  • Digital self-service advertising
  • Book your classified ad
  • Photo sales
  • NZME Events
  • © Copyright 2025 NZME Publishing Limited
TOP