NAI Harcourts has released its first Key Assets portfolio for 2014 which comprises over 60 commercial properties and businesses for sale and lease in locations ranging from Kerikeri in the north to Invercargill in the south.
In Onehunga, Andrew Bruce and Rob Meister are marketing 291 Church St, a three-level road frontage industrial building that will be auctioned on Thursday, March 20, at 11am at the Royal NZ Yacht Squadron in Westhaven. Bruce says the property is a proven performer with four established tenants providing the owner with consistent income and occupancy along with capital growth.
The 1970s building, with a total floor area of 1779sq m, occupies a freehold site area of 1189sq m and is generating total net annual rental of $115,400 plus GST. Meister says there is excellent potential for rental growth. On the market for the first time in over 30 years, 291 Church St has a Grade B seismic rating of 74 per cent New Building Standard (NBS) and has good access to the State Highway 1 motorway.
A second property being marketed for sale by Meister and Bruce is a tenanted investment at 63 Apollo Drive, Rosedale. Leased to BSH Home Appliances Ltd until November 30, 2018, subject to renewal, it generates net annual rental of $56,900 plus GST and operating expenses. The building features 164sq m of quality ground-floor office and showroom space along with 56sq m of basement storage and five car parks.
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Bruce says the property is being offered for sale via auction on Thursday, April 10, at 12pm at 400 Beach Rd, Mairangi Bay.
For investors looking north of Auckland, Hayden Clarke is marketing a property which he believes will achieve a greater yield than expected in major cities.
G/19 Klinac Lane is a quality, modern and low-maintenance commercial unit in the centre of Waipapa, Kerikeri, the retail hub of the far north. The 291sq m unit is leased to national tenant Bed Stop Ltd for $45,000 a year plus outgoings and GST on a five-year initial term expiring on September 10, 2017, with two four-year rights of renewal.
Clarke says market level rent strengthens the position for future property rental and value gains. The unit shares a large common ground car park and shopping centre amenities and is surrounded by high-profile national retail outlets that include The Warehouse, Dick Smith, Noel Leeming and Stirling Sport. G/19 Klinac Lane will go under the hammer on Friday, March 21, at 2.30pm at Orchard Estate, 66 Cobham Rd, Kerikeri.
South of Auckland, Mike Neale and Kara Gerrand are marketing what they call a "red hot" investment property in the Hamilton CBD. Tenanted by Canon New Zealand Ltd on a new six-year lease earning $65,000 a year plus GST and outgoings, 404 Anglesea St is on a prime arterial route with Centre Place mall, Casabella Lane and the Hamilton Transport Centre close by.
With a net lettable area of 200sq m, on a freehold site of about 690sq m, the property has 15 on-site car parks and an excellent profile with over 13,000 vehicles passing by daily.
It will be auctioned on Wednesday, March 19, at 11am at the NAI Harcourts auction room on the corner of Forest Lake Rd and Te Rapa Rd, Hamilton.