Commercial
Listings Spring 2019
Property Brokers Licensed REAA 2008
Welcome to Commercial Listings Spring 2019
As we enter in to Spring and look forward to the summer weather ahead many commercial landlords are reassessing their portfolio mix and analysing whether now is a good time to buy or sell. While New Zealand is talking positively about growth within the market, global prospects are for a market slow down. New Zealand has a number of drivers propelling the domestic market forward including near-record Terms of Trade, strong population growth and historically low interest rates. With the Reserve Bank recently reducing The Official Cash Rate (OCR) to 1.0 percent in order to meet its employment and inflation objectives, those in the market are taking advantage of the favourable finance conditions and buying up property.
Those who are selling are generally looking to reinvest in bigger or better properties, with investment yields in many regions outstripping traditional bank returns. Property Brokers are continually seeing multiple offers on buildings that have a modern and well maintained interior/ exterior, are well located and have strong leases. A nationwide shortage of industrial stock means record prices are being achieved in this sector with developers and land holders being encouraged to free up land on the outskirts of towns to meet ongoing demand. An “investor drift� from the main centres to the regions is currently being experienced with many investors and investment companies now looking to invest in the provinces where good stock can be secured at yields not available in the main centres. In closing, while there may be a hint of uncertainty emanating from the global economy, New Zealand is showing positive signs of growth, with the Commercial property market strong and yields in the provinces giving investors an excellent return on their money.
Contents 04 Hawke’s Bay 12 Manawatu 19 Whanganui 22 Rangitikei 23 Horowhenua 24 Recently Solds
Marty Love National Commercial Manager Property Brokers Ltd
Commercial Sales & Leasing
Commercial
Property Management
Commercial
Building Compliance Services Building WOF, Fire Alarm Testing, Evac Schemes and Electricial Services
We do it all Ph 0800 367 5263 or visit pb.co.nz/commercial Property Brokers Licensed REAA 2008
Hawke’s Bay
COMMERCIAL 19 Clive Square NAPIER
Property Brokers Limited Licensed under the Real Estate Agents Act 2008
06 834 4255
High profile investment on Tennyson
NAPIER CBD 34 Tennyson Street
•High profile corner site Tennyson/Market Street Napier •Character Art Deco Building. The first to be erected after the 1931 Napier earthquake •Ideal opportunity for investors, or owner occupier from April 2020 •Location is second to none with high foot traffic and adjacent to other long established retailers and cafes. •Full engineers report available
WEB ID NC69426 Opportunity to purchase quality affordable CBD investment properties don't come to market often. Move quickly to secure this gem.
DEADLINE SALE
View By Appointment DEADLINE SALE closes Thursday 29th August, 2019 at 12.00pm
Deadline Sale Date Thursday 29th August 2019 at 12 noon (will not be sold prior) Les Kennedy
Mobile 027 250 0227 Office 06 845 9142 lesk@pb.co.nz
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Hawke’s Bay
COMMERCIAL 19 Clive Square NAPIER
Property Brokers Limited Licensed under the Real Estate Agents Act 2008
06 834 4255
Insure your investment
HASTINGS 129 Heretaunga Street West
• Established national tenant, ground floor (AMI Insurance) • Three yearly market rental review mechanism • Four bedroom, first floor luxury apartment • Earthquake strengthened to 67% NBS • High yielding investment with diverse risk/opportunity This amazing property meets all the criteria for an outstanding investment in a prime location within the heart of a very buoyant city and region. A new six year lease with AMI insurance on the ground floor anchors
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WEB ID NC67981 this investment providing $60,000pa net of income. Upstairs features a thoughtfully designed 279m² approx, four bedroom art deco apartment boasting high quality materials and top end fittings throughout, ensuring a timeless yet contemporary look for you to occupy or rent out for further income. Further features are plentiful; a new lift, double wardrobes, spacious kitchen, dining room and lounge, new central heating system, alarm and video monitoring system, three fully tiled bathrooms, tastefully spacious.
BUYERS $1,400,000+
View By Appointment
Paul Garland
Mobile 027 329 5777 paulg@pb.co.nz
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Hawke’s Bay
COMMERCIAL 19 Clive Square NAPIER
Property Brokers Limited Licensed under the Real Estate Agents Act 2008
06 834 4255
Price drastically reduced
MARAEKAKAHO 3639 State Highway 50
Out she goes! Our vendors want this sold! The Chook & Filly - Country Pub (Est. 2005) is one of the great Hawke's Bay icons situated at the beginning of State Highway 50 in Maraekakaho. This destination is an incredible family friendly local hub for the community and the wider Hawke's Bay region as a restaurant/barista cafe, bar and functions venue. •The stunning manicured grounds, garden bar, deck areas as well as intimate fire place and restaurant
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WEB ID NC68336 dining provides an atmosphere for everyone on all occasions. •This opportunity is incredibly unique as a going concern business; and/or the newly resource consented site allows for a primary lifestyle dwelling to be built above it - free hold. This could be turned into your new family home! The Chook & Filly can be the ultimate live-in lifestyle opportunity for a new beginning
$725,000 + GST (IF ANY)
View By Appointment
Sebastian Nilsson
Mobile 027 843 6266 Office 06 834 4255 sebastian@pb.co.nz
Hawke’s Bay
COMMERCIAL 19 Clive Square NAPIER
Property Brokers Limited Licensed under the Real Estate Agents Act 2008
06 834 4255
A1 Backpacker business land and buildings
HASTINGS 122 Stortford Street
•This freehold property and business is situated in a quiet suburban street close to Stortford lodge shops and facilities. •The lovely house has 5 bedrooms and provides a very comfortable homely environment for working backpackers. •Popular with Hawke's Bay contractors to accommodate their workers •This is a very easily managed profitable investment.
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WEB ID NC68855 • Open 365 days of the year • Can accommodate up to 26 people • Warm environment with good heating • Four toilets; three showers
DEADLINE SALE
View By Appointment DEADLINE SALE closes Thursday 29th August, 2019 at 12.00pm
There is much more to know about this great opportunity. For Sale by Deadline - Closing Date 12 noon Thursday 29th August 2019 (will not be sold prior)
Les Kennedy
Mobile 027 250 0227 Office 06 845 9142 lesk@pb.co.nz
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Hawke’s Bay
COMMERCIAL 19 Clive Square NAPIER
Property Brokers Limited Licensed under the Real Estate Agents Act 2008
06 834 4255
High profile Napier: corner site
NAPIER CBD 137 Station Street
Set up a new business or relocate to this high profile corner site for sale or for lease
WEB ID NC67335
BY NEGOTIATION
View By Appointment
• Freehold corner site of 304m² approx. • 90m² office with 5 carparks • RV $395,000 This quality site is zoned commercial and could suit many uses: office, retail, or food. Located nearby to Countdown Supermarket, Reading Cinemas.
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Susan Davis
Mobile 027 472 2266 Office 06 834 2975 susan@pb.co.nz
Hawke’s Bay
COMMERCIAL 19 19 Clive Clive Square Square NAPIER NAPIER
Property Property Brokers Brokers Limited Limited Licensed Licensed under under the the Real Real Estate Estate Agents Agents Act Act 2008 2008
06 06 834 834 4255 4255
5,500m² Irongate industrial sections
LONGLANDS 22 Irongate Road
•For •For sale, sale, newly newly consented consented industrial industrial subdivision subdivision •4 •4 freehold freehold lots lots between between 5,500m² 5,500m² and and 5,910m², 5,910m², all all with with road road frontage frontage •Located •Located in in the the heart heart of of the the new new Irongate Irongate industrial industrial area area with with easy easy access access to to expressways expressways to to Hastings Hastings and and Napier. Napier. •These •These are are the the only only under under 1ha 1ha sections sections available available on on the the market market •All •All services services to to boundary boundary Be Be quick quick to to secure secure aa site site that that suits suits your your business business plans. plans.
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WEB ID NC68400 Lot Lot 33 -- 5710m² 5710m² Lot Lot 44 -- 5500m² 5500m² Lot Lot 55 -- 5500m² 5500m² Lot Lot 66 -- 5910m² 5910m² Contact Contact agents agents for for further further information information and and resource resource consent consent details. details.
BY NEGOTIATION
View View By By Appointment Appointment
Les Les Kennedy Kennedy
Mobile Mobile 027 027 250 250 0227 0227 Office Office 06 06 845 845 9142 9142 lesk@pb.co.nz lesk@pb.co.nz
Susan Susan Davis Davis
Mobile Mobile 027 027 472 472 2266 2266 Office Office 06 06 834 834 2975 2975 susan@pb.co.nz susan@pb.co.nz
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Hawke’s Bay
COMMERCIAL 19 Clive Square NAPIER
Property Brokers Limited Licensed under the Real Estate Agents Act 2008
06 834 4255
Food manufacturing industrial Hastings
MAHORA 1303 Tomoana Road
Profile industrial development land site 8288m². •For Sale, or design build for lease. •General industrial Zone with access to the waste water infrastructure and sewerage line located nearby, making this property suitable for food manufacturing. •Strategically located in close proximity to the fast growing Food hub, neighbouring businesses include Turners & Growers, Jamestrong, Tomoana Warehousing, Miracle Water. •Property has significant HDC development credits.
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WEB ID NC69676
BY NEGOTIATION
View By Appointment
Susan Davis
Mobile 027 472 2266 Office 06 834 2975 susan@pb.co.nz
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Hawke’s Bay
COMMERCIAL 19 Clive Square West NAPIER napier@pb.co.nz 06 844 0042
Property Brokers Limited Licensed under the Real Estate Agents Act 2008
Brand new industrial warehouse
LONGLANDS Lot 3/58 Irongate Road
Strategically located in the new Irongate Industrial Park. 1800m² approx. Clearspan steel portal warehouse. 1ha freehold industrial land area will provide ample areas for truck movements and future development. Offices are able be provided as part of the sale. High sliding doors provide multiple access points for stock delivery & work areas. Don't wait to build, this property will give you the head start to relocating to your new property!
WEB ID NC69683
BY NEGOTIATION
View By Appointment
Susan Davis
Mobile 027 472 2266 Office 06 834 2975 susan@pb.co.nz
Paul Garland
Mobile 027 329 5777 paulg@pb.co.nz
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Manawatu Property Brokers Limited Licensed under the Real Estate Agents Act 2008
COMMERCIAL 240 Broadway Avenue PALMERSTON NORTH palmerstonnorth@pb.co.nz 06 356 5122
Look No Further! Motivated vendor says sell!
PALMERSTON NORTH 28 Amesbury Street
A significant opportunity presents itself here, nestled in the heart of the CBD sits this substantial landholding with generous on-site car parking. The building lends itself towards a total makeover to attract that perfect tenant or retain the status quo and lease the current available space. Full engineers report and working drawings are completed which the vendor will make available to a prospective new owner. Serious consideration needs to be given to what is presented here.
WEB ID BC64503 • 15 on-site car parks • Land area 1,290m² (more or less) • Floor area 1,140 m² (more or less)
BUYERS $980,000+
View By Appointment
Kevin Carian
Mobile 027 430 4045
Dave Looney
Mobile 027 446 2889
Kate Looney
Mobile 021 517 340
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Manawatu Property Brokers Limited Licensed under the Real Estate Agents Act 2008
COMMERCIAL 240 Broadway Avenue PALMERSTON NORTH palmerstonnorth@pb.co.nz 06 356 5122
8.5+% Yield $400,000 net income
PALMERSTON NORTH 723 Main Street
WEB ID BC64443
• Land Area 3,618m² (more or less) • Floor Area 2,459m² (more or less) • Net return income $400,000 • Multi-tenanted spreading investment risk • NBS rating 80% • Vendor expectation - 8.5+% yield
This large 3,618m² approx. site has great access and plenty of off-street parking. A spacious and modern layout with plenty of open space and natural light. A solid income stream from the mix of cafe, retail and lease-able office space makes this a fantastic investment opportunity.
A truly unique opportunity to own one of Palmerston Norths iconic commercial properties. 723 Main Street is ideally positioned with a constant flow of traffic going past the front door.
Valuation and LIM report are available on request
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BY NEGOTIATION
View By Appointment
Kevin Carian
Mobile 027 430 4045 kevin.carian@pb.co.nz
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Manawatu Property Brokers Limited Licensed under the Real Estate Agents Act 2008
COMMERCIAL 240 Broadway Avenue PALMERSTON NORTH palmerstonnorth@pb.co.nz 06 356 5122
For Sale - Building with multiple tenancies
CENTRAL 552 Main Street
Within walking distance to The Square, this building offers three tenancies, two of them tenanted. The seismic report has been updated with a score of 85% NBC. This site offers tenant car-parking. Tenancy one is currently vacant and offers a total of 569m² approx. split over two levels. Fronting on to Main Street, this is a high profile site. Tenancy two is 153m² approx. situated on the ground floor and tenanted by Frucor Beverages Ltd.
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WEB ID BC68978 Tenancy three is on the first floor and tenanted by Leap Fitness Ltd.
BY NEGOTIATION
View By Appointment
•Rateable value $1,300,000 •Floor area 861m² approx. Enquire now for more information Lynette Love
Mobile 027 244 5806 Office 06 351 2877 lynette@pb.co.nz
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Manawatu Property Brokers Limited Licensed under the Real Estate Agents Act 2008
COMMERCIAL 240 Broadway Avenue PALMERSTON NORTH palmerstonnorth@pb.co.nz 06 356 5122
Centrally located with a strong lease
WEST END 32 Joseph Street Price reduced!
• New 4 year lease commenced late 2018 • Land Area 1,052m² (more or less) • Floor Area 396m² (more or less) • RV $570,000 as at 01 Sep 2018 • Zoned industrial Centrally located in Joseph Street, this very tidy commercial building is well-tenanted with a new lease that commenced in November 2018. Industrially zoned,
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WEB ID BC67205 this versatile building has the potential for multiple uses. The building has several facilitates including two kitchens. The Palmerston North City Council has given verbal approval for a childcare however the tenants are currently operating a doggy day care, with a new four year lease. The perimeter is securely fenced with new fencing and another new fence separates the outside area from an off-road parking area.
BY NEGOTIATION
View By Appointment
Lynette Love
Mobile 027 244 5806 Office 06 351 2877 lynette@pb.co.nz
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Manawatu Property Brokers Limited Licensed under the Real Estate Agents Act 2008
COMMERCIAL 240 Broadway Avenue PALMERSTON NORTH palmerstonnorth@pb.co.nz 06 356 5122
CBD Cafe - Top Site!
WEB ID BC68343
CENTRAL For the first time since opening its doors over ten years ago "O'Briens Irish Sandwich Cafe" is on the market for sale. With an enviable prime location sited in the heart of Broadway Avenue at the entrance to Downtown Shopping complex, it has a well earned reputation built upon a proven cafe offer. This independent and uniquely branded cafe has that much loved cabinet food and its own style of fresh, made to order food options. This cafe offer also easily extends itself into the offsite catering service.
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It has established a very loyal customer base built up over many years of consistent performance with a convenient location. The current owner has active involvement in the business, however, there is sufficient business scope to enable a full-time manager to operate the cafe, whilst you spend time on developing the business opportunities.
BY NEGOTIATION
View By Appointment
John McArdle
Mobile 027 357 0896 johnm@pb.co.nz
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Manawatu Property Brokers Limited Licensed under the Real Estate Agents Act 2008
COMMERCIAL 240 Broadway Avenue PALMERSTON NORTH palmerstonnorth@pb.co.nz 06 356 5122
Challenge Hokowhitu
HOKOWHITU 344 Albert Street
Become part of the Hokowhitu Village retail community with this established service station business. This corner outlet sits at the busy roundabout intersection of Te Awe Awe and Albert Streets in the prime suburb of Hokowhitu, Palmerston North. Surrounded by several retail outlets including a mechanical workshop, florist, bakery, village wine shop, Curves gym and medical centre to name a few, it serves the local community.
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WEB ID BC61902 The current operating hours of 8.00am to 5.00pm 7 days, can be further extended with unmanned technology and still retain that unique local service component, often missing from the large service station sites. Dispensing petrol 91, petrol 96 and diesel with total storage capacity of 55,000 litres, makes for an economic cash flow management of your stock. With a highly motivated and realistic owner ready to sell and a secure on-going fuel supply agreement in place with a reputable fuel supply.
BY NEGOTIATION
View By Appointment
John McArdle
Mobile 027 357 0896 johnm@pb.co.nz
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Manawatu Property Brokers Limited Licensed under the Real Estate Agents Act 2008
COMMERCIAL 240 Broadway Avenue PALMERSTON NORTH palmerstonnorth@pb.co.nz 06 356 5122
For Sale - Home of the China Inn
PALMERSTON NORTH 155 Broadway Avenue
Within walking distance and part of the Central Business District, this building has been home to the China Inn business for over 34 years. With all of the 260m² approx. area being used for the restaurant and bar business, this is an ideal building to continue the long history of hospitality. The business of the China Inn is also For Sale meaning there is a potential lease in place.
WEB ID BC69760 •Land area 352m² (more or less) •Floor area 260m² (more or less) •RV $790,000 as at 01 September 2018 •Land value $440,000
BY NEGOTIATION
View By Appointment
Lynette Love
Mobile 027 244 5806 Office 06 351 2877 lynette@pb.co.nz
John McArdle
Mobile 027 357 0896 johnm@pb.co.nz
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Whanganui
COMMERCIAL 51 Taupo Quay WHANGANUI whanganui@pb.co.nz 06 345 7714
Property Brokers Limited Licensed under the Real Estate Agents Act 2008
A relaxed location
WHANGANUI CENTRAL 40 Guyton Street
Located on a stand-out corner, this property has a 430m² (more or less) plus internal courtyard, single storey 85% NBS building surrounded by sealed parking areas, lawns and gardens. The entry foyer from Guyton St leads to thirteen offices, dual amenities and kitchen/staffrooms, plus a garage. Currently tenanted 60% by a secure national tenant, 172m² (more or less) vacant. All offices have good natural light and are complemented by storage rooms and the internal courtyard.
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WEB ID WGC64348 There are multiple on-site parks. Located two blocks from Victoria Avenue in a quiet locality, this is a quality property with the upsides definitely being privacy and close proximity to the central city.
BY NEGOTIATION
View By Appointment
For Sale by Negotiation. Gil Button
Mobile 021 326 956 Office 06 281 3709 gil.button@pb.co.nz
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Whanganui
COMMERCIAL 51 Taupo Quay WHANGANUI whanganui@pb.co.nz 06 345 7714
Property Brokers Limited Licensed under the Real Estate Agents Act 2008
Multi-tenancy investment
WHANGANUI CENTRAL 236 Victoria Avenue
A two storey office complex constructed in the 1980s, this modern design building is 97% NBS and stands out as a beacon in Victoria Avenue. Fully tenanted, the distinctive facade hides the activity of seven tenants in the eleven suites with approximately fifty six offices and amenities rooms, multiple entry points, a central lift and twenty one car parks adjacent. Floor area 1,630m² (more or less), section 1,624m²
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WEB ID WGC67428 (more or less) located in the upper Victoria Avenue, Whanganui`s premier business street.
BY NEGOTIATION
View By Appointment
Net rental is $120,000 per year, a solid income stream from a mix of professional tenants. Whanganui is a steady investment region, with a constantly growing economic base. Investment for sale by negotiation.
Gil Button
Mobile 021 326 956 Office 06 281 3709 gil.button@pb.co.nz
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Whanganui
COMMERCIAL 51 Taupo Quay WHANGANUI whanganui@pb.co.nz 06 345 7714
Property Brokers Limited Licensed under the Real Estate Agents Act 2008
Prime investment beckons
WHANGANUI CENTRAL 185-187 Victoria Avenue
WEB ID WGC65497
One of Whanganui's prime commercial buildings, located on Victoria Avenue, has come to the market for sale.
been done for you. Now you can complete a new fit out on its first floor or open up options for a new lessee.
Centrally located on two separate freehold titles, it already has two tenants in place returning an acceptable yield with more to come. You can "buy and hold", secure in the leased income stream.
This is ideal for a commercial property investor or for a business owner seeking to secure self-tenanted premises, with a healthy yield from current leases.
Built in the 1970s it has recently been upgraded to reach an NBS of 80% so the infrastructure work has
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For sale by negotiation.
BY NEGOTIATION
View By Appointment
John McArdle
Mobile 027 357 0896 johnm@pb.co.nz
Heather Kubiak
Mobile 027 231 4363 Office 06 281 3031 heather.kubiak@pb.co.nz
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Rangitikei
COMMERCIAL 51 Taupo Quay WHANGANUI whanganui@pb.co.nz 06 345 7714
Property Brokers Limited Licensed under the Real Estate Agents Act 2008
Investment property in Bulls
BULLS 111 Bridge Street
This central Bulls commercial property is on a freehold title with a quality tenant in place. Bridge Street connects State Highways 1 and 3, and is the service centre of this busy commercial and retail hub. The Subway franchise business on the site is also on the market for sale, so the investment options are two-fold if that is what you seek. The vendor is also the Subway franchisee and will consider all serious offers with a preference for business sale and land sale.
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WEB ID WGC66135 If you have the motivation to seek a strong commercial solution to this opportunity then call us for further information.
BY NEGOTIATION
View By Appointment
John McArdle
Mobile 027 357 0896 johnm@pb.co.nz
Heather Kubiak
Mobile 027 231 4363 Office 06 281 3031 heather.kubiak@pb.co.nz
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Horowhenua Property Brokers Limited Licensed under the Real Estate Agents Act 2008
COMMERCIAL 240 Broadway Avenue PALMERSTON NORTH palmerstonnorth@pb.co.nz 06 356 5122
Be quick for this investment opportunity!
LEVIN 362 Oxford Street
• Land Area: 1012m² (more or less) • Floor Area: 152m² (more or less) • Category: Commercial; Retail Use • 3 bedrooms • 1 bathroom • Spacious kitchen • 2 lounges • Double garage
WEB ID BC69579 Zoned Commercial, with the possibility to convert to residential, with Council consent, potentially subdividable... what else are you looking for in a property? Property Brokers is excited to offer for sale 362 Oxford Street Levin, a property that offers the possibility of multiple opportunities.
DEADLINE SALE
View By Appointment DEADLINE SALE closes Thursday 12th September, 2019 at 4.00pm, (unless sold prior)
Kevin Carian
Mobile 027 430 4045 kevin.carian@pb.co.nz
pb.co.nz
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Recently sold SOLD
6 Opepe Street, Taupo • Sold for $3,456,000 • Quality Investment with net rental of $216,000pa
SOLD
1462 Omahu Road, Hastings • Sold for $3,100,000 • Large food processing site with high profile
SOLD
751-759 Main Street, Palmerston North • Sold for $5,700,000, yield of 6.7% • Purchased by an Auckland based syndication
SOLD
2-10 Prouse Street and 32 Cambridge Street, Levin • Sold for $2,177,000 • Large industrial site with great development opportunities
SOLD
14 Hillside Terrace, Whanganui • Sold for $1,500,000 • Large rest home complex
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Your Local Sales Consultants Our Property Brokers family is now 600 strong, with over 44 branches across the country. Still doing business with a handshake, we sell thousands of properties a year, combining our local knowledge and passion with market leading expertise and reach — both nationwide and across the globe. As members of the NZ Realtors Network we have access to a huge referral network of buyers and sellers to help get you the best the market can offer. We’re also part of the exclusive Leading Real Estate Companies of the World network, giving us global connections to buyers interested in New Zealand.
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