Case Studies - LANE GAINS TROLLEY TRENDS - Bayleys

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Case Studies - LANE GAINS TROLLEY TRENDS - Bayleys
Case Studies

LANE GAINS                               FEATURING

                                        79
How New Zealand’s laneways are
being revitalised and energised.

TROLLEY TRENDS
The evolving property needs of
the supermarket sector.
                                     COMMERCIAL PROPERTIES
                                     AND BUSINESSES FOR SALE

                                           ISSUE 1 – 2016
Case Studies - LANE GAINS TROLLEY TRENDS - Bayleys
Boundary lines are indicative only

•    Single-level retail arcade with 11 retail outlets
•    Big cashflow: returning around $797,260pa net                                                       Sold by Tender
•    1,635m² site with substantial longer development potential                                          7th July 2016
•    Proposed Metropolitan Centre zoning                                                                 29 Northcroft Street, Takapuna,
•    High exposure to Hurstmere Road retail strip                                                        Auckland, New Zealand
A multi-tenanted retail investment property situated in the heart of Takapuna´s CBD offering             Sale price
significant add-value and development potential.                                                         Confidential
This prime site in the centre of Takapuna´s business and retail precinct adjoins a large council car     Source of purchaser
park and is a short walk away from one of Auckland´s best beaches.                                       Realestate.co.nz/commercial
                                                                                                         Purchaser profile
    Tenancy Details                                                                                      Active add value investor
  The property currently houses multiple retail and food and beverage tenants and is
  producing net annual rental income of approximately $797,260.
______________________________________________________________________________________________________   Simon Aldridge
                                                                                                         09 489 0982
                                                                                                         simon.aldridge@bayleys.co.nz
    Sale Summary                                                                                         Devereux Howe-Smith Realty Ltd, Bayleys,
                                                                                                         Licensed under the REA Act 2008
    Marketed nationally in Total Property and sold by way of Tender.
______________________________________________________________________________________________________
                                                                                                         Michael Nees
                                                                                                         09 489 0997
                                                                                                         michael.nees@bayleys.co.nz
                                                                                                         Devereux Howe-Smith Realty Ltd, Bayleys,
                                                                                                         Licensed under the REA Act 2008

TOTAL PROPERTY CASE STUDY
Case Studies - LANE GAINS TROLLEY TRENDS - Bayleys
Approximately 31.68ha (in seven titles) of West Auckland vineyards, winery production and
distribution plant. The buildings within the winery complex include:                                     Sold by International Tender
                                                                                                         14th April 2016
•   1,000m² winery and bottling hall capable of storing 3.6 million litres of juice
                                                                                                         Maritime Square, Ground Floor,
•   Bottling facility equipped to produce 1.1 million cases of screw-capped wine annually
                                                                                                         4 Viaduct Harbour Avenue,
•   900m² climate-controlled barrel hall capable of housing some 2,000 casks
                                                                                                         Auckland, New Zealand
•   1,672m² finished goods warehouse facility and dispatch yard
•   300m² of administrative buildings                                                                    Sale price
•   $1.2 million waster water treatment and filtration plant                                             $16,000,000
•   Approximately 326m² of vineyard machinery and equipment storage sheds                                Source of purchaser
•   Wine tasting venue                                                                                   Referral
•   5.84 hectares of planted vines of which three hectares are Sauvignon Blanc and just under a
    hectare is Chardonnay                                                                                Purchaser profile
                                                                                                         Active add value investor
    Property Details
  Land Area                   31.68 hectares
______________________________________________________________________________________________________   Paul Dixon
                                                                                                         +64 22 091 7399
    Tenancy Details                                                                                      paul.dixon@bayleys.co.nz
                                                                                                         Bayleys Real Estate Ltd,
    Sold with vacant possession.
______________________________________________________________________________________________________
                                                                                                         Licensed under the REA Act 2008

                                                                                                         Mike Peterson
                                                                                                         +64 21 066 6091
    Sale Summary
                                                                                                         mike.peterson@bayleys.co.nz
    International marketing campaign in New Zealand, China, Singapore and Australia. Sold by             Bayleys Real Estate Ltd,
    international tender.                                                                                Licensed under the REA Act 2008
______________________________________________________________________________________________________

                                                                                                                                TOTAL PROPERTY CASE STUDY
Case Studies - LANE GAINS TROLLEY TRENDS - Bayleys
• Strong tenant brand and lease
• High profile and potential                                                                             Sold by Private Treaty
1.3718 hectare industrial site. The majority of the property is leased to International Nutritionals     June 2016
Limited for the bulk storage of palm kernel (stock food).                                                Sale price
                                                                                                         $2,590,000
 Property Details
                                                                                                         Yield
  Land Area                   1.3721 hectares
______________________________________________________________________________________________________   11%
  Warehouse and office        7,557m²
______________________________________________________________________________________________________   Source of purchaser
  Floor Area                  8,233m² (Total NLA)
______________________________________________________________________________________________________
                                                                                                         Bayleys.co.nz
                                                                                                         Purchaser profile
 Tenancy Details                                                                                         Active add value investor
  Name of Tenant              International Nutritionals Limited
______________________________________________________________________________________________________
  Term of Lease               Two (2) years renewed to 1st August 2018                                   Ross Blomfield
______________________________________________________________________________________________________
                                                                                                         +64 27 437 7033
  Commencement Date           1st August 2014, expiring 31st July 2020
______________________________________________________________________________________________________   ross.blomfield@bayleys.co.nz
  Review Date                 Two (2) yearly to market
______________________________________________________________________________________________________
                                                                                                         Mackys Real Estate Limited, Bayleys,
                                                                                                         Licensed under the REA Act 2008
  Rights of Renewal           Two (2) x two (2) years each
______________________________________________________________________________________________________
  Net Rental                  $300,160 + GST and outgoings
______________________________________________________________________________________________________

 Sale Summary
 Marketed nationally in Total Property, sold by Deadline Private Treaty to a South African based
 family investment company.
______________________________________________________________________________________________________

TOTAL PROPERTY CASE STUDY
Case Studies - LANE GAINS TROLLEY TRENDS - Bayleys
• Six affordable properties in prime locations
• A mix of commercial, bulk retail and industrial properties with a total combined current rent roll     Sold by Tender
  of $842,276pa net + GST                                                                                14th April 2016
• Various lease terms with split income risk                                                             Maritime Square, Ground Floor,
                                                                                                         4 Viaduct Harbour Avenue,
 Property Details                                                                                        Auckland, New Zealand
  Mairangi Bay                Freehold standalone industrial in high profile location
______________________________________________________________________________________________________   Sale price
  Wairau Park                 High profile road frontage in established trade retail location
______________________________________________________________________________________________________
                                                                                                         Confidential
  Auckland Central            66m² well appointed ground floor office with two car parks
______________________________________________________________________________________________________   Source of purchaser
  Mt Wellington               Central posiiton in heart of the Harvey Norman Centre                      Established Client
______________________________________________________________________________________________________
  Mt Wellington               Two industrial buildings totalling 1,994m² on 4,047m² site                 Purchaser profile
______________________________________________________________________________________________________
                                                                                                         Active add value investor
  Onehunga                    1,395m² standalone industrial on 1,975m² site
______________________________________________________________________________________________________

                                                                                                         Sunil Bhana
 Tenancy Details
                                                                                                         +64 21 938 660
 Sold with various lease terms with split income risk
______________________________________________________________________________________________________   sunil.bhana@bayleys.co.nz
                                                                                                         Bayleys Real Estate Ltd,
                                                                                                         Licensed under the REA Act 2008
 Sale Summary                                                                                            James Hill
 Extensive national media marketing campaign and standalone website, resulting in strong                 +64 21 599 529
 enquiry and a large Tender response for both the individual properties and the portfolio. Sold as       james.hill@bayleys.co.nz
 a whole portfolio.                                                                                      Bayleys Real Estate Ltd,
______________________________________________________________________________________________________   Licensed under the REA Act 2008

                                                                                                                                TOTAL PROPERTY CASE STUDY
Case Studies - LANE GAINS TROLLEY TRENDS - Bayleys
•   Centrally positioned corner unit in The Foundation retail development with maximum exposure
•   Returning $31,413.21pa + GST and OPEX                                                                Sold by Auction
•   Annual rental increase of CPI + 1% and market review on 12th June 2019 and renewal date              11th April 2016
•   Bite sized tenanted investment opportunity for all smaller investors                                 Maritime Square, Ground Floor,
                                                                                                         4 Viaduct Harbour Avenue,
    Property Details                                                                                     Auckland, New Zealand
  Floor Area                  58m² (approximately)
______________________________________________________________________________________________________   Sale price
  CV                          $570,000
______________________________________________________________________________________________________
                                                                                                         $700,000
  Built                       Circa 2014
______________________________________________________________________________________________________   Yield
                                                                                                         4.5%
    Tenancy Details                                                                                      Source of purchaser
  Name of Tenant              Bruce Lee Sushi & Roll North Shore Limited                                 Bayleys.co.nz
______________________________________________________________________________________________________
  Term of Lease               Nine (9) years
______________________________________________________________________________________________________
                                                                                                         Purchaser profile
                                                                                                         Passive investor
  Commencement Date           12th June 2014
______________________________________________________________________________________________________
  Rights of Renewal           One (1) of six (6) years each
______________________________________________________________________________________________________
                                                                                                         Terry Kim
  Net Rental                  $31,413.21pa + GST and OPEX
______________________________________________________________________________________________________   +64 274 711 446
                                                                                                         terry.kim@bayleys.co.nz
    Sale Summary                                                                                         Devereux Howe-Smith Realty Ltd, Bayleys,
                                                                                                         Licensed under the REA Act 2008
    Marketed nationally in Total Property. It was sold pre-auction to an Auckland based local
    investor.                                                                                            Michael Block
______________________________________________________________________________________________________   +64 21 888 233
                                                                                                         michael.block@bayleys.co.nz
                                                                                                         Devereux Howe-Smith Realty Ltd, Bayleys,
                                                                                                         Licensed under the REA Act 2008

TOTAL PROPERTY CASE STUDY
Case Studies - LANE GAINS TROLLEY TRENDS - Bayleys
• Modern quality development constructed in 2006
• Sought after location for both investors and tenants                                                   Sold by Auction
• Established tenant in place                                                                            20th April 2016
                                                                                                         Maritime Square, Ground Floor,
 Property Details                                                                                        4 Viaduct Harbour Avenue,
  Building Area               745m² (more or less)                                                       Auckland, New Zealand
______________________________________________________________________________________________________
  Car Parks                   14
______________________________________________________________________________________________________
                                                                                                         Sale price
  Current Zoning              Business 10                                                                $2,170,000
______________________________________________________________________________________________________
                                                                                                         Yield
 Tenancy Details                                                                                         6.99%

  An established tenant has occupied the premises since 2011, returning $130,000pa +                     Source of purchaser
  GST and OPEX.                                                                                          Bayleys.co.nz
______________________________________________________________________________________________________
                                                                                                         Purchaser profile
                                                                                                         Passive investor
 Sale Summary
 Marketed nationally in Total Property. 33 interested parties that had enquired on the property or
 were contacted through the Bayleys database. Four active bidders in the room, sold under the            Laurie Burt
 hammer.                                                                                                 +64 27 413 6174
______________________________________________________________________________________________________   laurie.burt@bayleys.co.nz
                                                                                                         Devereux Howe-Smith Realty Ltd, Bayleys,
                                                                                                         Licensed under the REA Act 2008

                                                                                                         Matt Mimmack
                                                                                                         +64 21 229 5878
                                                                                                         matt.mimmack@bayleys.co.nz
                                                                                                         Devereux Howe-Smith Realty Ltd, Bayleys,
                                                                                                         Licensed under the REA Act 2008

                                                                                                                                 TOTAL PROPERTY CASE STUDY
Case Studies - LANE GAINS TROLLEY TRENDS - Bayleys
Boundary lines are indicative only

•    Single-level retail arcade with 11 retail outlets
•    Big cashflow: returning around $797,260pa net                                                       Sold by Tender
•    1,635m² site with substantial longer development potential                                          7th July 2016
•    Proposed Metropolitan Centre zoning                                                                 29 Northcroft Street, Takapuna,
•    High exposure to Hurstmere Road retail strip                                                        Auckland, New Zealand
A multi-tenanted retail investment property situated in the heart of Takapuna´s CBD offering             Sale price
significant add-value and development potential.                                                         Confidential
This prime site in the centre of Takapuna´s business and retail precinct adjoins a large council car     Source of purchaser
park and is a short walk away from one of Auckland´s best beaches.                                       Realestate.co.nz/commercial
                                                                                                         Purchaser profile
    Tenancy Details                                                                                      Active add value investor
  The property currently houses multiple retail and food and beverage tenants and is
  producing net annual rental income of approximately $797,260.
______________________________________________________________________________________________________   Simon Aldridge
                                                                                                         09 489 0982
                                                                                                         simon.aldridge@bayleys.co.nz
    Sale Summary                                                                                         Devereux Howe-Smith Realty Ltd, Bayleys,
                                                                                                         Licensed under the REA Act 2008
    Marketed nationally in Total Property and sold by way of Tender.
______________________________________________________________________________________________________
                                                                                                         Michael Nees
                                                                                                         09 489 0997
                                                                                                         michael.nees@bayleys.co.nz
                                                                                                         Devereux Howe-Smith Realty Ltd, Bayleys,
                                                                                                         Licensed under the REA Act 2008

TOTAL PROPERTY CASE STUDY
Case Studies - LANE GAINS TROLLEY TRENDS - Bayleys
•   PAUP terrace housing and apartment buildings
•   Holding income with flexible lease terms                                                             Sold by Auction
•   Corner site consisting of 514m²                                                                      13th April 2016
•   Potential medical use                                                                                Maritime Square, Ground Floor,
                                                                                                         4 Viaduct Harbour Avenue,
    Property Details                                                                                     Auckland, New Zealand
  Land                        514m² approximately
______________________________________________________________________________________________________   Sale price
  PAUP                        Terraced housing and apartment buildings
______________________________________________________________________________________________________
                                                                                                         $1,590,000
  Road Frontage               42.5m² (approximately)
______________________________________________________________________________________________________   Source of purchaser
                                                                                                         Sign
    Tenancy Details                                                                                      Purchaser profile
  For sale with vacant possession.                                                                       Owner occupier SME
______________________________________________________________________________________________________

                                                                                                         Ashton Geissler
    Sale Summary
                                                                                                         +64 21 252 9277
    Marketed nationally in Total Property. Unique property drawing enquiry from residential owner        ashton.geissler@bayleys.co.nz
    occupiers, residential investors, commercial owner occupiers and developers. This diverse            Devereux Howe-Smith Realty Ltd, Bayleys,
                                                                                                         Licensed under the REA Act 2008
    range of interest created a wide spread in perceived value. We were able to achieve several
    hundred thousand dollars above reserve.                                                              Simon Aldridge
______________________________________________________________________________________________________
                                                                                                         +64 21 774 951
                                                                                                         simon.aldridge@bayleys.co.nz
                                                                                                         Devereux Howe-Smith Realty Ltd, Bayleys,
                                                                                                         Licensed under the REA Act 2008

                                                                                                                                 TOTAL PROPERTY CASE STUDY
Case Studies - LANE GAINS TROLLEY TRENDS - Bayleys
Boundary lines are indicative only

•    Freehold commercial sites available from 2,482m² to 4,560m²
•    Close proximity to Westgate and Hobsonville Point developments                                      Sold by Private Treaty
•    Ease of access to main transport systems and multiple amenities
•    A must for all owner occupiers and developers to enquire in this location                           Sale price
•    New subdivision - 50% already sold or under contract                                                $1,875,000
Commercial land in a growing and highly aspirational precinct located approximately three
                                                                                                         Source of purchaser
kilometres from both Westgate retail and commercial precinct and the Hobsonville Point
                                                                                                         Total Property Magazine
residential development. This is a high growth central location which provides ease of access to
the North Shore, Auckland CBD and is surrounded by a number of high profile new retail and               Purchaser profile
commercial developments.                                                                                 Developer

    Property Details                                                                                     Grant Miller
  Lot Number                  Lot 21
______________________________________________________________________________________________________   +64 27 573 7618
  Area                        4,194m²                                                                    grant.miller@bayleys.co.nz
______________________________________________________________________________________________________   Bayleys Real Estate Ltd
                                                                                                         Licensed under the REA Act 2008

    Tenancy Details                                                                                      Phil Haydock
  Sold with vacant possession.                                                                           +64 21 192 2233
______________________________________________________________________________________________________
                                                                                                         phil.haydock@bayleys.co.nz
                                                                                                         Bayleys Real Estate Ltd
                                                                                                         Licensed under the REA Act 2008
    Sale Summary
    We were able to leverage the wider Bayleys group with the eventual buyer coming from the
    Auckland City & Fringe team client database. The property being marketed in Total Property
    with an asking price ensured the buyer acted promptly.
______________________________________________________________________________________________________

TOTAL PROPERTY CASE STUDY
•   Fantastic retail investment in a well-established shopping centre
•   BNZ as tenant returning $132,023.19 + GST pa.                                                        Sold by Auction
•   Generous onsite customer car parks                                                                   13th April 2016
•   Located at the high profile Lincoln Road and Universal Drive corner                                  Maritime Square, Ground Floor,
•   Henderson is one of the fastest growing areas in Auckland                                            4 Viaduct Harbour Avenue,
Lincoln North Shopping Centre is strategically positioned on Lincoln Road next to the large              Auckland, New Zealand
Pakn’Save and Mitre10 Mega stores. Top quality tenants in the centre including KFC, Columbus             Sale price
Coffee, Subway, ANZ Bank and Westpac Bank etc.                                                           $3,020,000
                                                                                                         Yield
    Property Details
                                                                                                         4.37 %
  Floor Area                  341sqm
______________________________________________________________________________________________________   Source of purchaser
                                                                                                         Total Property Magazine
    Tenancy Details
                                                                                                         Purchaser profile
  Name of Tenant              BNZ Bank
______________________________________________________________________________________________________   Active add value investor
  Term of Lease               Three(3) years
______________________________________________________________________________________________________
  Commencement Date           15th January 2016
______________________________________________________________________________________________________   Oscar Kuang
  Review Date                 One(1) x three (3) years                                                   +64 21 609 429
______________________________________________________________________________________________________
                                                                                                         oscar.kuang@bayleys.co.nz
                                                                                                         Bayleys Real Estate Ltd,
    Sale Summary                                                                                         Licensed under the REA Act 2008
    Sold under the hammer receiving more than 19 bids from eight serious parties including one           James Chan
    overseas telephone bidder; the property has sold with a record yield across the shopping             +64 21 934 054
    centre with a 4.2% return.                                                                           james.chan@bayleys.co.nz
______________________________________________________________________________________________________
                                                                                                         Bayleys Real Estate Ltd,
                                                                                                         Licensed under the REA Act 2008

                                                                                                                                TOTAL PROPERTY CASE STUDY
Boundary lines are indicative only

•    High profile corner site with huge exposure on main arterial road to city
•    Investment property with scope to add value or re-develop in future                                 Sold by Auction
•    Yielding $119,350 from five tenancies of various tenures to suit purpose                            April 2016
•    Upside with one vacancy to be leased adding more to the current income                              Maritime Square, Ground Floor,
•    Close to major shopping malls, public transport including railway station                           4 Viaduct Harbour Avenue,
                                                                                                         Auckland, New Zealand
    Property Details
                                                                                                         Sale price
  Land Area                   1,490m² (more or less) on two titles
______________________________________________________________________________________________________   $2,335,000
  Building                    800m² (more or less)
______________________________________________________________________________________________________   Yield
  Carparks                    21
______________________________________________________________________________________________________   5.05%
  Zoning                      Industrial
______________________________________________________________________________________________________   Source of purchaser
  Land Use                    Multi Use within Commercial                                                Referral
______________________________________________________________________________________________________
                                                                                                         Purchaser profile
    Tenancy Details                                                                                      Passive investor
  The property has five leased tenancies with one more vacancy available. Currently
  returning $119,000pa + GST and outgoings.                                                              Mustan Bagasra
______________________________________________________________________________________________________
                                                                                                         +64 21 470 315
                                                                                                         mustan.bagasra@bayleys.co.nz
    Sale Summary                                                                                         Mackys Real Estate Ltd, Bayleys,
                                                                                                         Licensed under the REA Act 2008
    Marketed nationally in Total Property, NZ Herald and four websites. Over 30 enquiries, five
    bidders in the auction room, two bidders engaged in bidding until the hammer came down.
______________________________________________________________________________________________________

TOTAL PROPERTY CASE STUDY
Boundary lines are indicative only

•    Affordable freehold standalone city fringe investment
•    Attractive long term lease to very experienced tenant                                               Sold by Auction
•    Currently returning $63,654 + GST p.a. (net)                                                        13th April 2016
•    Built in rental growth of 3% each year                                                              Maritime Square, Ground Floor,
Straight forward, high profile city fringe investment with attractive lease to an established tenant     4 Viaduct Harbour Avenue,
which features personal guarantees and built in rental growth. Situated in a premier city fringe         Auckland, New Zealand
position close to Ponsonby Road, the CBD and all motorway interchanges. Both the current                 Sale price
zoning and the Proposed Auckland Unitary Plan provides future add value opportunities.                   $1,420,000 + GST (if any)
                                                                                                         Yield
    Property Details
                                                                                                         4.48%
  Floor Area                  344.40m² (approximately)
______________________________________________________________________________________________________   Source of purchaser
  Land Area                   304m² (more or less)
______________________________________________________________________________________________________   Database
  Zoning                      Mixed Use
______________________________________________________________________________________________________   Purchaser profile
                                                                                                         Passive investor
    Tenancy Details
    Name of Tenant             A Automotive Limited                                                      Cameron Melhuish
______________________________________________________________________________________________________   +64 21 479 882
    Net rental $63,654 + GST p.a. Rent reviews annually with a 3% rent increase.                         cameron.melhuish@bayleys.co.nz
______________________________________________________________________________________________________
                                                                                                         Bayleys Real Estate Ltd,
                                                                                                         Licensed under the REA Act 2008

    Sale Summary                                                                                         Andrew Wallace
    A competitive auction with circa five bidders resulted in the property being sold to an Auckland     +64 21 148 7679
    based investor.                                                                                      andrew.wallace@bayleys.co.nz
______________________________________________________________________________________________________   Bayleys Real Estate Ltd,
                                                                                                         Licensed under the REA Act 2008

                                                                                                                                TOTAL PROPERTY CASE STUDY
Artist’s impression

•    Located in the heart of Auckland’s thriving student zone
•    Fully consented apartment development                                                               Sold by Private Treaty
•    17 levels with 93 apartments and 44 car parks                                                       June 2016
•    1,092m² freehold land                                                                               Sale price
Brand new resource consent dated October 2015 approved to develop a 17-level apartment                   $7,600,000
building. Located in the thriving ’student zone’ close to Auckland University, AUT and other local
                                                                                                         Yield
and international college campuses. The 93 apartment scheme has been designed with the
                                                                                                         2.89%
student occupier as the target market with a combination of studio and one and two bedroom
apartments. The building design maximises the light and view with all of the apartments having           Source of purchaser
exterior deck spaces. A fantastic development opportunity with no consent risk.                          Bayleys.co.nz
                                                                                                         Purchaser profile
    Property Details                                                                                     Active add value investor
  Land Area                   1,092m²
______________________________________________________________________________________________________
  Tenure                      Freehold
______________________________________________________________________________________________________   Robert Platt
  Zoning                      SMA5                                                                       +64 9 309 6020
______________________________________________________________________________________________________
                                                                                                         robert.platt@bayleys.co.nz
                                                                                                         Bayleys Real Estate Ltd,
    Tenancy Details                                                                                      Licensed under the REA Act 2008

  Sold with lease to Tournament Parking which can be terminated on three months’ notice,                 James Chan
  providing holding income of $220,000pa + GST.
______________________________________________________________________________________________________
                                                                                                         +64 9 375 8458
                                                                                                         james.chan@bayleys.co.nz
                                                                                                         Bayleys Real Estate Ltd,
    Sale Summary                                                                                         Licensed under the REA Act 2008

    Marketed nationally in Total Property, sold by negotiation to a developer.
______________________________________________________________________________________________________

TOTAL PROPERTY CASE STUDY
Boundary lines are indicative only

•    Two modern and versatile freehold Parnell commercial units with
•    First time on the market in over 20 years                                                           Sold by Pre Tender
•    Two dedicated car parks for each property immediately in front                                      2nd March 2016
•    Strategic Parnell position close to motorways                                                       Maritime Square, Ground Floor,
•    Suitable for office, retail or showroom use                                                         4 Viaduct Harbour Avenue,
Unit 4A, located on the ground floor, is a superbly presented and versatile unit suitable for wide       Auckland, New Zealand
range of users. The large stud height, polished concrete floors and sliding ranch doors make 4A          Sale price
perfectly suited to retail, showroom, distribution and/or character office.                              $825,000
Unit 4B lends itself to an attractive office space with polished concrete floors, a balcony and a        Source of purchaser
generous stud height to the front of the property. The unit comes complete with a mezzanine              Database
level with showering facilities.
                                                                                                         Purchaser profile
                                                                                                         Owner occupier SME
    Property Details
                              Unit 4A                             Unit 4B
______________________________________________________________________________________________________
                                                                                                         Andrew Wallace
  Zoning                      Business 5                          Business 5
______________________________________________________________________________________________________   +64 21 148 7679
  Floor Area                  75m² (approximately)                109.5m² (approximately)
______________________________________________________________________________________________________
                                                                                                         andrew.wallace@bayleys.co.nz
                                                                                                         Bayleys Real Estate Ltd, Licensed under the REA Act
  Car Parks                   Two (2)                             Two (2)
______________________________________________________________________________________________________   2008

    Sale Summary
    Both units sold with vacant possession prior to the tender date to an Auckland based owner
    occupier.
______________________________________________________________________________________________________

                                                                                                                                  TOTAL PROPERTY CASE STUDY
Boundary lines are indicative only

•    Large freehold site 1,846m²
•    Resource consent for four residential sites                                                         Sold by Negotiation
•    Superb location close to Auckland CBD
•    Boarding house currently generates approximately $230,000pa net                                     Sale price
The property comprises a long-established boarding house sitting on a prime Mt Eden                      4,400,000
residential site of 1,846m². The property is on the northern fringe of Mt Eden and in close
                                                                                                         Yield
proximity to the Auckland CBD. This address is within the zone of Auckland Grammar School.
                                                                                                         5.23%
The property now has a resource consent in place enabling demolition of the existing buildings
                                                                                                         Source of purchaser
and subdivision into four residential sites for development. Collect the boarding house income
                                                                                                         Established Client
whilst planning your redevelopment of this outstanding Mt Eden site.
A rare opportunity in this prime location.                                                               Purchaser profile
                                                                                                         Active add value investor
    Property Details
  Land Area                   1,846m²                                                                    Stuart Bode
______________________________________________________________________________________________________
                                                                                                         +64 27 4936 223
  Accommodation               23 rooms
______________________________________________________________________________________________________   stuart.bode@bayleys.co.nz
                                                                                                         Bayleys Real Estate Ltd,
                                                                                                         Licensed under the REA Act 2008
    Tenancy Details
    Currently operating as a boarding house and returning approximately $230,000pa net.
______________________________________________________________________________________________________

    Sale Summary
    Marketing through Total Property and sold by negotiation to an add value investor.
______________________________________________________________________________________________________

TOTAL PROPERTY CASE STUDY
Boundary lines are indicative only

•    Occupy, renovate or redevelop
•    Two separate titles totalling approximately 1,817m²                                                 Sold by Tender
•    Land bank, develop or hold                                                                          11th March 2016
•    Excellent neighbourhood and school zoning                                                           29 Northcroft Street, Takapuna,
                                                                                                         Auckland, New Zealand
    Property Details
                                                                                                         Sale price
                              13 Lilllington Road                 15 Lillington Road
______________________________________________________________________________________________________   $2,700,000
  Site Area                   1,162m² (more or less)              655m² (more or less)
______________________________________________________________________________________________________   Source of purchaser
  Tenure                      Freehold
______________________________________________________________________________________________________   Established Client
  Zoning                      6A
______________________________________________________________________________________________________   Purchaser profile
                                                                                                         Holder / land banker
    Tenancy Details
    Sold with vacant possession.                                                                         Michael Block
______________________________________________________________________________________________________
                                                                                                         +64 21 888 233
                                                                                                         block@bayleys.co.nz
    Sale Summary                                                                                         Devereux Howe-Smith Realty Ltd, Bayleys,
                                                                                                         Licensed under the REA Act 2008
    The property has secured for sale following a competitive pitch with several agencies. We won
    the pitch due to our company profile. A week after commencement of advertising we received           Damian Stephen
    an approach through another agency and a subsequent offer was made which the Vendor                  +64 21 80 80 92
    decided to accept in absence of a higher offer. Accordingly tender was brought forward and all       damian.stephen@bayleys.co.nz
                                                                                                         Devereux Howe-Smith Realty Ltd, Bayleys,
    interested parties invited to also submit an unconditional offer for consideration.                  Licensed under the REA Act 2008

                                                                                                         Paul Sissons
______________________________________________________________________________________________________
                                                                                                         +64 274 325 220
                                                                                                         Bayleys Real Estate Ltd, Remuera
                                                                                                         Licensed under the REA Act 2008

                                                                                                                                 TOTAL PROPERTY CASE STUDY
•   Property currently divided into three separate buildings
•   Two freehold titles                                                                                  Sold by Private Treaty
•   Centrally located in Auckland’s industrial heartland                                                 4th July 2016
•   Overseas vendor instructs "present all offers"                                                       Sale price
    Property Details                                                                                     $1,875,000

  Building A                  430.33m² (approximately)                                                   Source of purchaser
______________________________________________________________________________________________________
                                                                                                         Database
  Building B                  402.04m² (approximately)
______________________________________________________________________________________________________
                                                                                                         Purchaser profile
  Building C                  373m² (approximately)
______________________________________________________________________________________________________   Owner occupier SME
  Total Floor Area            1,203m² (approximately)
______________________________________________________________________________________________________
  Land Area                   Two lots of land being a combined area of 1,619m²
______________________________________________________________________________________________________   Trevor Duffin
                                                                                                         +64 21 245 9731
    Tenancy Details                                                                                      trevor.duffin@bayleys.co.nz
                                                                                                         Devereux Howe-Smith Realty Ltd, Bayleys,
    Sold with vacant possession.
______________________________________________________________________________________________________
                                                                                                         Licensed under the REA Act 2008

                                                                                                         James Hill
    Sale Summary                                                                                         +64 21 599 529
                                                                                                         james.hill@bayleys.co.nz
    28 enquiries from local owner occupiers, ten enquiries from add value investors. Building was in     Bayleys Real Estate Ltd,
    poor condition with an IEP of 17% and needed new roofs and demolition of extensive fit out           Licensed under the REA Act 2008
    and modernisation. Sold to a local owner occupier.                                                   James Valintine
______________________________________________________________________________________________________
                                                                                                         +64 21 023 71868
                                                                                                         Bayleys Real Estate Ltd,
                                                                                                         Licensed under the REA Act 2008

TOTAL PROPERTY CASE STUDY
•   Vacant 22 unit Motel plus managers accommodation and conference centre
•   Substantial freehold site of 3,132m²                                                                 Sold by Tender
•   Res 6A/Mixed Housing Urban under PAUP                                                                7th April 2016
•   Superb opportunity to generate cash flow before redevelopment                                        Maritime Square, Ground Floor,
This vacant motel property is a purpose built motel complex comprising a two level "L" shaped            4 Viaduct Harbour Avenue,
structure with attached single level reception and managers accommodation. The former motel              Auckland, New Zealand
also offers a conference room, sauna and laundry. The property sits on a large freehold site on          Source of purchaser
the Ellerslie Panmure Highway a short distance from the Southern Motorway and in close                   Established Client
proximity to the bustling Ellerslie Shopping Centre, Panmure Shopping Centre and the new                 Purchaser profile
Panmure Railway Station.                                                                                 Owner occupier SME
The motel premises includes 14 x one-bedroom units, two x two-bedroom units, and six x
studio units. There is also a three-bedroom managers accommodation, conference centre,                   Stuart Bode
kitchen, laundry and sauna.                                                                              +64 27 493 6223
                                                                                                         stuart.bode@bayleys.co.nz
    Property Details                                                                                     Bayleys Real Estate Ltd,
                                                                                                         Licensed under the REA Act 2008
  Site                        Freehold 3,132m²
______________________________________________________________________________________________________
  Legal Description           Lot 1 DP 71933
______________________________________________________________________________________________________
  Identifier                  NA54D/1335
______________________________________________________________________________________________________
  Car Parks                   30 on-site
______________________________________________________________________________________________________

    Sale Summary
    The national marketing campaign led to strong enquiry and good Tender response.
______________________________________________________________________________________________________

                                                                                                                                TOTAL PROPERTY CASE STUDY
Boundary lines are indicative only

•    Strategic location with excellent exposure
•    Newly renewed six year lease                                                                        Sold by Auction
•    Well established international tenant                                                               13th April 2016
•    Returning $72,000pa + GST and outgoings                                                             4 Viaduct Harbour Avenue,
•    Ease of access to State Highway 1                                                                   Auckland, New Zealand
The property is in prime position on the main arterial route Carbine Road in the heart of Mt             Sale price
Wellington industrial precinct, with road frontage to South-Eastern Highway, the property                $1,505,000
benefits from excellent exposure.
                                                                                                         Yield
The tenant has been in occupation for over 18 years. Serious rental growth potential.                    4.78%
With Sylvia Park and other amenities in the immediate proximity, the property presents a rare            Source of purchaser
opportunity for investors.                                                                               Established Client
                                                                                                         Purchaser profile
    Property Details
                                                                                                         Passive investor
  Floor Area                  551m² (approximately)
______________________________________________________________________________________________________
  Zoning                      Business 5
______________________________________________________________________________________________________   Tony Chaudhary
                                                                                                         +64 21 995 121
    Sale Summary                                                                                         tony.chaudhary@bayleys.co.nz
                                                                                                         Bayleys Real Estate Ltd, Manukau,
    Marketed nationally in Total Property, NZ Herald and four websites. Over 40 enquiries with four      Licensed under the REA Act 2008
    strong bidders.                                                                                      Amy Weng
______________________________________________________________________________________________________
                                                                                                         +64 21 177 3422
                                                                                                         amy.weng@bayleys.co.nz
                                                                                                         Bayleys Real Estate Ltd, Manukau,
                                                                                                         Licensed under the REA Act 2008

TOTAL PROPERTY CASE STUDY
•   Specialised food grade unit
•   Dual access - inwards and outwards goods                                                             Sold by Deadline Private Treaty
•   Located in the commercial precinct of East Tamaki                                                    15th April 2016
•   Returning $82,000pa + GST and outgoings                                                              Maritime Square, Ground Floor,
This property is well situated in between rapidly developing Ormiston Town Centre and State              4 Viaduct Harbour Avenue,
Highway 1.                                                                                               Auckland, New Zealand

The property features inwards and outwards goods, dual roller doors, mezzanine and a fully               Sale price
fitted kitchen with freezers. Currently occupied by a food company that manufactures and                 $1,180,000
distributes paleo products New Zealand wide.                                                             Yield
                                                                                                         6.9%
    Property Details
                                                                                                         Source of purchaser
  Car Parks                   Nine (9)
______________________________________________________________________________________________________   Database
  Roller Doors                Two (2)
______________________________________________________________________________________________________   Purchaser profile
  Zoning                      Business 5
______________________________________________________________________________________________________
                                                                                                         Passive investor
  Floor Area                  572m² (approximately)
______________________________________________________________________________________________________
                                                                                                         Tony Chaudhary
                                                                                                         +64 21 995 121
    Sale Summary
                                                                                                         tony.chaudhary@bayleys.co.nz
    Strong marketing campaign resulted in over 20 enquiries and a sale price above expected.             Bayleys Real Estate Ltd, Manukau,
______________________________________________________________________________________________________   Licensed under the REA Act 2008

                                                                                                         Janak Darji
                                                                                                         +64 21 047 1290
                                                                                                         janak.darji@bayleys.co.nz
                                                                                                         Bayleys Real Estate Ltd, Manukau,
                                                                                                         Licensed under the REA Act 2008

                                                                                                                                 TOTAL PROPERTY CASE STUDY
Boundary lines are indicative only

•    540.31m² office/showroom/warehouse
•    Versatile configuration with front roller door and rear door access                                 Sold by Prior to Auction
•    Six car parks                                                                                       2nd March 2016
•    Located in East Tamaki’s industrial hub                                                             Sale price
•    Zoned Business 5                                                                                    $1,000,000
Office/showroom/warehouse suitable for various business uses and offered with vacant
                                                                                                         Yield
possession. There is a kitchen and toilet on the ground floor and a shower and toilet on the first
                                                                                                         6.5%
floor. Offices are air-conditioned.
                                                                                                         Source of purchaser
Located on the busy East Tamaki Road, the property provides excellent access to public
                                                                                                         Established Client
transport and motorway networks.
                                                                                                         Purchaser profile
    Property Details                                                                                     Passive investor
  Ground Floor Showroom/Amenities                                 95.65m²
______________________________________________________________________________________________________
  First Floor Office/Amenities                                    94m²                                   Katie Wu
______________________________________________________________________________________________________
                                                                                                         +64 27 230 7895
  Warehouse                                                       350.66m²
______________________________________________________________________________________________________   katie.wu@bayleys.co.nz
  Total                                                           540.31m²
______________________________________________________________________________________________________
                                                                                                         Bayleys Real Estate Ltd, Manukau,
                                                                                                         Licensed under the REA Act 2008

                                                                                                         John Bolton
    Sale Summary                                                                                         +64 21 925 016
    Sold off market two weeks before release of the Total Property campaign due to an early offer        john.bolton@bayleys.co.nz
    being accepted.                                                                                      Bayleys Real Estate Ltd, Manukau,
______________________________________________________________________________________________________   Licensed under the REA Act 2008

TOTAL PROPERTY CASE STUDY
•   2,000m² freehold corner site
•   718m² office/workshop/warehouse (A+ seismic grade)                                                   Sold by Auction
•   25 car parks (expansion potential)                                                                   13th April 2016
•   Easy and efficient site access                                                                       Maritime Square, Ground Floor,
•   Fabulous location, handy to shopping centres and motorways                                           4 Viaduct Harbour Avenue,
The property comprises mezzanine office space plus clear span, high stud workshop/                       Auckland, New Zealand
warehouse which has good natural light and two container height roller doors.                            Sale price
Surrounded by quality buildings and occupiers, this nicely landscaped premises provides a rare           $1,850,000
opportunity to purchase.                                                                                 Source of purchaser
                                                                                                         Database
    Property Details
                                                                                                         Purchaser profile
  Office Floor Area           170m² (mezzanine)
______________________________________________________________________________________________________   Passive investor
  Warehouse Floor Area 548m² (including amenities)
______________________________________________________________________________________________________
  Land Area                   2,000m² (more or less)
______________________________________________________________________________________________________
                                                                                                         Marty Roestenburg
                                                                                                         +64 21 943 517
  Zoning                      Business 5 (medium industrial)
______________________________________________________________________________________________________   marty.roestenburg@bayleys.co.nz
  Car Parks                   25
______________________________________________________________________________________________________   Bayleys Real Estate Ltd, Manukau,
                                                                                                         Licensed under the REA Act 2008

    Sale Summary
    Sold with vacant possession upon settlement to a passive investor. Strong bidding at Auction
    led to a premium sale price.
______________________________________________________________________________________________________

                                                                                                                                 TOTAL PROPERTY CASE STUDY
•   Fee Simple corner industrial
•   Dual access with multiple roller doors                                                               Sold by Auction
•   Seismic (earthquake) rating 90% of NBS                                                               13th April 2016
•   Renewed lease to an established tenant                                                               4 Viaduct Harbour Avenue,
•   Returning $80,000pa net, increasing to $84,000pa net in 2017                                         Auckland, New Zealand
A well presented industrial investment located in the heart of the airport area.                         Sale price
Properties in this precinct are becoming more in demand due to its desirable proximity to State          $1,442,500
Highway 1, State Highway 20 and the Auckland Airport.                                                    Yield
                                                                                                         5.54%
    Property Details
                                                                                                         Source of purchaser
  Floor Area                  780m²
______________________________________________________________________________________________________   Trademe.co.nz
  Land Area                   1,593m² (more or less)
______________________________________________________________________________________________________   Purchaser profile
  Zoning                      Business 5
______________________________________________________________________________________________________
                                                                                                         Passive investor
  Roller Doors                Four (4)
______________________________________________________________________________________________________
                                                                                                         Tony Chaudhary
                                                                                                         +64 21 995 121
    Sale Summary
                                                                                                         tony.chaudhary@bayleys.co.nz
    Marketed nationally in Total Property, NZ Herald and four websites. Over 20 enquiries with five      Bayleys Real Estate Ltd, Manukau,
                                                                                                         Licensed under the REA Act 2008
    bidders in the auction room.
______________________________________________________________________________________________________
                                                                                                         Janak Darji
                                                                                                         +64 21 047 1290
                                                                                                         janak.darji@bayleys.co.nz
                                                                                                         Bayleys Real Estate Ltd, Manukau,
                                                                                                         Licensed under the REA Act 2008

TOTAL PROPERTY CASE STUDY
Boundary lines are indicative only

• High profile redevelopment and add-value opportunity
• Kmart is anchor tenant and they want to stay                                                           Sold by Tender
• 1.3 hectares of central city land adjacent to Hamilton Transport Hub, Wintec and Centre Place          17th March 2016
  shopping mall                                                                                          247 Cameron Road,
This centre is in need of change. Kmart, the anchor tenant for the last 22 years, has provided a         Tauranga, New Zealand
brief of the changes they would like to see in order to extend their tenure.                             Sale price
                                                                                                         $13,425,000
 Property Details
                                                                                                         Yield
  Land Area                   1.3 hectares
______________________________________________________________________________________________________   7.9%
  Floor Area                  9,600m²
______________________________________________________________________________________________________   Source of purchaser
  Car Parks                   430 on-site
______________________________________________________________________________________________________
                                                                                                         Bayleys.co.nz
                                                                                                         Purchaser profile
 Tenancy Details                                                                                         Active add value investor
  Name of Tenant              Kmart (Anchor Tenant)
______________________________________________________________________________________________________
  Term of Lease               24 years                                                                   Jim McKinlay
______________________________________________________________________________________________________
                                                                                                         +64 21 417 426
  Commencement Date           16th July 1994
______________________________________________________________________________________________________   jim.mckinlay@bayleys.co.nz
  Rights of Renewal           Two (2) of six (6) years
______________________________________________________________________________________________________
                                                                                                         Success Realty Ltd, Bayleys,
                                                                                                         Licensed under the REA Act 2008
  Net Rental                  $1,057,791 + GST
______________________________________________________________________________________________________

 Sale Summary
 Marketed in Total Property nationwide and sold by tender at a 7.9% yield.
______________________________________________________________________________________________________

                                                                                                                                TOTAL PROPERTY CASE STUDY
Boundary lines are indicative only

• Large 1,436m² residentially zoned lot
• Consented for childcare centre                                                                         Sold by Auction
• Two large converted residential buildings, garage and storage shed                                     13th April 2016
Situated on top of the Waihi Road ridge and on one of Tauranga’s main arterial routes, this              247 Cameron Road,
property offers a great investment income with future development potential.                             Tauranga, New Zealand

The tenant, Best Start Educare Limited (formerly Kidicorp), has been on this site since 1997, a          Sale price
total of nearly 20 years. Developed as a child day care centre, the premises are also used for the       $960,000
administration hub for Kids at Home; a subsidiary company wholly owned by Best Start.                    Yield
                                                                                                         6%
 Property Details
                                                                                                         Source of purchaser
  Building Area               302.2m²
______________________________________________________________________________________________________   Bayleys.co.nz
  Land Area                   1,436m²
______________________________________________________________________________________________________   Purchaser profile
                                                                                                         Passive investor
 Tenancy Details
  Name of Tenant              Best Start Educare Limited
______________________________________________________________________________________________________
                                                                                                         Graeme Coleman
  Term of Lease               Five (5) years                                                             +64 27 274 1610
______________________________________________________________________________________________________
                                                                                                         graeme.coleman@bayleys.co.nz
  Commencement Date           1st February 2009
______________________________________________________________________________________________________   Success Realty Ltd, Bayleys,
                                                                                                         Licensed under the REA Act 2008
  Net Rental                  $58,500 + GST net per annum
______________________________________________________________________________________________________

 Sale Summary
 Marketed in Total Property and four websites. Over 35 enquiries with three active bidders at
 Auction.
______________________________________________________________________________________________________

TOTAL PROPERTY CASE STUDY
Artist’s impression

• Fully consented project with Agreement to Lease signed
• Long trading history for rural supplies from the site                                                  Sold by Auction
• Competitively tendered construction with contractor ready to start                                     6th May 2016
The hard work has already been done, so simply oversee the construction and reap the rewards             Sale price
of a high quality purpose built rural supplies store on freehold land in seven titles with dual street   $2,550,000
frontage.
                                                                                                         Yield
                                                                                                         8.6%
 Property Details
                                                                                                         Source of purchaser
  Land Area                   4,321m² (approximately)
______________________________________________________________________________________________________   Database
  Floor Area                  1,168m² (approximately) excluding canopy
______________________________________________________________________________________________________
                                                                                                         Purchaser profile
                                                                                                         Passive investor
 Tenancy Details
  Name of Tenant              Farm Source
______________________________________________________________________________________________________   Alan Johnston
  Term of Lease               10 years
______________________________________________________________________________________________________   +64 27 293 0762
  Commencement Date           2 yearly CPI and market on renewal                                         aj@bayleys.co.nz
______________________________________________________________________________________________________   Success Realty Ltd, Bayleys,
  Review Date                 Four (4) of three (3) years
______________________________________________________________________________________________________
                                                                                                         Licensed under the REA Act 2008

  Net Rental                  $219,500pa + GST
______________________________________________________________________________________________________
                                                                                                         Iain Taylor
                                                                                                         +64 21 473 253
 Sale Summary                                                                                            iain.taylor@bayleys.co.nz
                                                                                                         Success Realty Ltd, Bayleys,
 Four week Tender campaign. High enquiry levels due to the Farm Source Fonterra brand. Sold              Licensed under the REA Act 2008
 at Tender to a Hamilton based investor/developer.
______________________________________________________________________________________________________

                                                                                                                                TOTAL PROPERTY CASE STUDY
• A package of properties consisting of the 4-star plus Qualmark rated Quality Emerald Hotel
  and Conference Centre, offices and retail units                                                        Sold by Tender
• Favourable IEP (earthquake strength) ratings for all properties                                        26th May 2016
• Premium position at the heart of Gisborne surrounded by the Gisborne city’s shops, cafés,              4 Viaduct Harbour Avenue,
  theatres, museum and inner harbour marina                                                              Auckland, New Zealand

 Property Details                                                                                        Sale price
                                                                                                         $5,500,000
  Hotel                       49 rooms, manager’s unit and conference facilities
______________________________________________________________________________________________________
                                                                                                         Yield
  Offices                     1,968m² (approximately)
______________________________________________________________________________________________________   9.09%
  Retail                      488.40m² (approximately)
______________________________________________________________________________________________________   Source of purchaser
  Character Building          324m² (approximately)
______________________________________________________________________________________________________   Database
                                                                                                         Purchaser profile
 Tenancy Details                                                                                         Owner occupier corporate
 The property was sold part tenanted with a total current income of circa $500,000 + GST
 p.a.
______________________________________________________________________________________________________   Alan Haydock
                                                                                                         +64 21 532 121
 Sale Summary                                                                                            alan.haydock@bayleys.co.nz
                                                                                                         Bayleys Real Estate Ltd,
 Following a successful marketing campaign the property sold at Tender to an owner occupier.             Licensed under the REA Act 2008
______________________________________________________________________________________________________
                                                                                                         Cameron Melhuish
                                                                                                         +64 21 479 882
                                                                                                         cameron.melhuish@bayleys.co.nz
                                                                                                         Bayleys Real Estate Ltd,
                                                                                                         Licensed REAA 2008

TOTAL PROPERTY CASE STUDY
• Fully tenanted investment
• Net income $147,000pa                                                                                  Sold by Negotiation
• Split risk with five tenancies
This standalone building on one freehold title features five tenancies and is superbly positioned        Sale price
for high visibility on the corner of Heretaunga Street West and King Street, Hastings. This              $1,600,000
property is well-maintained and has a beautiful blend of Spanish Mission and Art Deco style
                                                                                                         Yield
about it. With the net rental income of $147,000pa from five tenants, this represents a fantastic
                                                                                                         9.18%
opportunity as a split risk investment.
                                                                                                         Source of purchaser
 Property Details                                                                                        Bayleys.co.nz
                              Ground Floor                        First Floor
______________________________________________________________________________________________________   Purchaser profile
  Floor Area                  836.20m²                            227.75m²                               Active add value investor
______________________________________________________________________________________________________
  Land Area                   1,011m²
______________________________________________________________________________________________________
                                                                                                         Bill Brown
                                                                                                         +64 27 430 2271
 Tenancy Details                                                                                         bill.brown@bayleys.co.nz
  The property is leased to five tenants with a weighted average lease terms of 4.2 years and            Coast to Coast Ltd, Bayleys,
                                                                                                         Licensed under the REA Act 2008
  returns a net income of $147,000pa + GST.
______________________________________________________________________________________________________
                                                                                                         Paul Garland
                                                                                                         +64 27 329 5777
 Sale Summary                                                                                            paul.garland@bayleys.co.nz
 Marketed nationally in Total Property, sold by negotiation to a private investor.                       Coast to Coast Ltd, Bayleys,
______________________________________________________________________________________________________   Licensed under the REA Act 2008

TOTAL PROPERTY CASE STUDY
•   Strong Australasian tenant covenant - RCR Energy Limited
•   Strategic location - strong local workforce, central North Island location                           Sold by Tender
•   Purpose built and designed facilities                                                                31st March 2016
•   Separate staff training facility                                                                     17 Napier Road,
                                                                                                         Havelock North, New Zealand
    Property Details
                                                                                                         Sale price
  Floor Area                  4,416m²
______________________________________________________________________________________________________   $1,676,470
  Land Area                   11,632m²
______________________________________________________________________________________________________   Yield
  Shedding                    High Stud Industrial Shedding
______________________________________________________________________________________________________   8.6%
                                                                                                         Source of purchaser
    Tenancy Details                                                                                      Established Client
  Name of Tenant              RCR Energy Limited
______________________________________________________________________________________________________   Purchaser profile
  Term of Lease               10 years
______________________________________________________________________________________________________
                                                                                                         Passive investor
  Net Rental                  $142,000pa
______________________________________________________________________________________________________
                                                                                                         Daniel Moffitt
    Sale Summary                                                                                         +64 21 423 580
    Sold to an Auckland Investor, with the lease renegotiated to a 13 year term.                         daniel.moffitt@bayleys.co.nz
______________________________________________________________________________________________________   Coast to Coast Ltd, Bayleys,
                                                                                                         Licensed under the REA Act 2008

                                                                                                                                TOTAL PROPERTY CASE STUDY
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