American selling $8.1m Sentinel penthouse after bolthole purchase: 'nobody's going to bomb NZ'

An American multimillionaire with interests in the vitamin industry is the seller of Takapuna's Sentinel penthouse apartment, with a rateable value of $8.1 million.Via his Patrick Farms investment vehicle, Ronald Patrick owns unit...

Source: nzherald.co.nz - Property | 19 Aug 2019 | 7:02 am

Auctions drive landmark sales

Bayleys says its commercial and industrial listings magazine Total Property has helped drive some of the country's landmark real estate sales.As the publication turns 20, True Commercial looks back at some of those defining sales.One...

Source: nzherald.co.nz - Property | 17 Aug 2019 | 1:04 pm

Global retailers buy Auckland CBD as a hot spot

Auckland CBD's retail scene will see a raft of new international retailers set up shop over the next few years as new property and infrastructure developments unlock the central city's retailing opportunities.Chris Dibble, Research...

Source: nzherald.co.nz - Property | 17 Aug 2019 | 5:00 am

Retail and industrial property portfolio

A commercial and industrial property portfolio in Masterton - featuring a block of high street shops, a vehicle testing station, and an industrial hub - is on the market for sale.The three properties are based at various locations...

Source: nzherald.co.nz - Property | 17 Aug 2019 | 5:00 am

Right chemistry for owner occupiers

The land and purpose-built complex housing the New Zealand offices of a global company is on the market for the first time since it was built in 1985.The two-storey commercial property, at 1-3 Argus Pl, Hillcrest, is the New Zealand...

Source: nzherald.co.nz - Property | 17 Aug 2019 | 5:00 am

Soon to be vacant medical centre for sale

Land and buildings once housing a full-service medical centre in Paeroa are on the market for sale or lease.The purpose-built premises, at 15 Princes St, had six tenants all of which have either relocated to new premises in Paeroa,...

Source: nzherald.co.nz - Property | 17 Aug 2019 | 5:00 am

Packhouse and cool store for sale

The land, buildings, and business sustaining one of the biggest privately-owned horticultural packing and distribution centres in the Western Bay of Plenty are on the market for sale.The complex, at Trig Rd, Waihi, features more...

Source: nzherald.co.nz - Property | 17 Aug 2019 | 5:00 am

Syndication uptake signals ongoing investor demand

The rapid uptake of Silverfin Capital's largest-ever property syndication scheme shows there is still plenty of investor demand for blueprints with good projected returns, says the company's CEO. The Inghams portfolio scheme, marketed...

Source: nzherald.co.nz - Property | 17 Aug 2019 | 5:00 am

12-year sale and leaseback in Penrose

Kiwi-owned company Phoenix Metal Recyclers is selling its large Penrose industrial site on a new 12-year lease as the owners look to expand the business to meet growing demand.The sale and leaseback presents an opportunity to invest...

Source: nzherald.co.nz - Property | 17 Aug 2019 | 5:00 am

Wairau Valley units with a blank canvas for upside

Four warehouse units on a freehold site in the Wairau Valley industrial precinct are for sale as a tenanted investment with the opportunity for immediate rental upside.The 2024sq m property, at 78 Diana Dr, on Auckland's North Shore,...

Source: nzherald.co.nz - Property | 17 Aug 2019 | 5:00 am

Burger bar franchise comes with tasty treats

A burger bar franchise in Mission Bay, Auckland, is on the market for $580,000. NOA Chargrill + Burger has a strong lease in place, weekly sales of over $30,000, and the rent is attractive, says Nick Giles of LINK hospitality division.NOA...

Source: nzherald.co.nz - Property | 17 Aug 2019 | 5:00 am

Investors set to dive into scuba centre

Land and buildings housing an underwater diving centre and a laundromat in Whitianga are on the market for sale.The premises, at 10-12 Campbell St, in Whitianga's central business district, sits at the intersection with Owen St...

Source: nzherald.co.nz - Property | 17 Aug 2019 | 5:00 am

Precinct Properties boosts underlying profit, tweaks dividend policy

Precinct Properties made a $189.9 million net after-tax net profit, down on last year's $254.9m, due mainly to less spectacular rises in the value of its properties.Underlying profit, adjusted for non-cash items, was up 3.7 per...

Source: nzherald.co.nz - Property | 16 Aug 2019 | 11:08 am

Mad Butcher owners' Orakei, Waiheke Island homes for sale

Business couple Michael Morton and Julie Leitch, of The Mad Butcher, are selling their Orakei home after undertaking extensive renovations, and their large rural Waiheke Island place.The two properties are collectively valued at...

Source: nzherald.co.nz - Property | 15 Aug 2019 | 10:10 am

Australia's housing market is suddenly heating up again

After a two-year slide, Australian house prices look to have bottomed out, sending buyers flocking back to the market.Case in point: An auction for a four-bedroom house in the Sydney suburb of Ryde on Saturday attracted about 100...

Source: nzherald.co.nz - Property | 15 Aug 2019 | 8:35 am

Nappies, rubbish and drug use: Rental abandoned in 'atrocious' state

A shocking video has emerged of an abandoned Auckland rental property littered with junk, broken furniture and drug paraphernalia.The trashed property stinks of cigarettes, has broken fences and a nappy dumped in the garden, highlighting...

Source: nzherald.co.nz - Property | 14 Aug 2019 | 7:24 pm

SkyCity profit down 14 per cent, convention centre progress 'slow'

Casino, restaurant and hotel business Sky City Entertainment has posted a 14.7 per cent drop in net profit from $169.5 million last year to $144.6m this year.Normalised profit rose 1.6 per cent to $173m, according to the result...

Source: nzherald.co.nz - Property | 14 Aug 2019 | 7:12 am

Landlords fined for seizing tenant's property for years over unpaid rent

Landlords who seized and held their tenant's belongings for years because she was behind in the rent have been stung with $6000 in fines.Masterton couple Dr Robert Maunsell and Susan Munro rented a unit on their property to tenant...

Source: nzherald.co.nz - Property | 13 Aug 2019 | 10:12 am

Summerset half-year net profit slips 4% as valuation gains ease, expenses rise

Summerset Group reported a 4 per cent drop in net profit to $92.6m due mainly to less spectacular property revaluations, rising expenses and increasing finance costs.Total revenue from the retirement business rose 13 per cent from...

Source: nzherald.co.nz - Property | 13 Aug 2019 | 9:03 am

Mid-winter hits house prices: Auckland down 2.4%, NZ down 1.7%

Mid-winter is hitting the housing market with national and Auckland prices down, according to the latest Real Estate Institute data for July.Auckland house prices hit a six-month low and fell by 2.4 per cent from June. National...

Source: nzherald.co.nz - Property | 13 Aug 2019 | 9:00 am