1 Apr 2022 Commercial Property Hawkes Bay
Out of town clients secured this property with a net rental of $138,000 over 19 tenancies all on short-term leases. After 6 months, Focus has re-negotiated new leases with all tenants and has increased the net rental to $215,000 with a WALT of 3 years.
31 Mar 2022 Commercial Property Hawkes Bay
Focus secured this property on behalf of an overseas client in December 2021 with a three month delayed settlement. With a short WALT, Focus negotiated a purchase yield of 6.7% and will look to redevelop the property as each floor becomes available.
1 Dec 2021 Commercial Property Hawkes Bay
Auckland based investors entrusted Focus to complete due diligence on 31-35 Carnegie Road whilst they were in Auckland’s Covid lockdown. Focus found significant ways to add value through proactive management and lease negotiations.
A purchase yield of 4.65% has since increased to 7.00% after 10 months with a new WALT of 8 years.
2 Jun 2021 Updates Hawkes BayBOP
We had the pleasure of hosting the Hawkes Bay team here in Tauranga and celebrated with a dinner in style. It was great for the new team members to get to know each other and the old ones to catch up and share some laughs.
1 Jun 2021 Commercial PropertyWaikato
We are at it again in Hamilton, helping existing tenants grow into larger spaces while at the same time improving the building to add value. We are now underway with design for building consent to create two large offices and associated toilets with completion expected in October 2021. Watch this space.
2 May 2021 Commercial PropertyWaikato
We have recently refurbished this dated office into a modern and bight space for the incoming tenant.
May 1 2021 Commercial PropertyBOP
Views. This is one for the future, where we are looking to plan a substantial development to unlock the full potential of this unique site. The property has holding income to ensure funding elements are met as we gather interest from interested tenants for an office tower.
Purchase price $4,000,000.
Feb 2 2021 Commercial PropertyBOP
Lawvu are an existing tenant of ours and with their expanding team they were in need of more space. We are very pleased to assist and welcome them into the first floor of 15 Wharf Street, conveniently above Tauranga's 'Eat Street'. The building was substantially refurbished in 2019 with foodies on the ground floor and provides 5 first floor office tenancies ranging from 50sqm up to 90spm, the ideal hatchery for growing businesses.
15 Dec 2020 Commercial PropertyWaikato
The final lease agreement of the year, and it was a good one. A new 6 year lease to NZ Schools and Education Group for 855 sqm of fully refurbished offices, the works will take approximately 6 months as we build around their day to day operations. This follows the successful renovation of the top floor to Kainga Ora and leaves only one remaining tenancy of 450 sqm to go, please get in touch with a local agent if you are interested.
5 Dec 2020 Commercial PropertyBOP
This large first floor office was proving difficult to lease in the current market so we prepared a feasibility analysis proving a better return could be achieved by having three smaller offices instead. We arranged design, consent and costings for the works and put a leasing campaign together to attract potential tenants. The development has run to budget and we now have three very happy new tenants. Welcome to Baby Love, Sweeny Townsend and First Principals Architecture.
1 Dec 2020 Commercial PropertyWaikato
Outstanding WALT of 6.25yrs was the driving factor in this purchase for an existing client. The prominent site on Te Rapa Road gives tenants excellent profile and offices in this location are sought-after.
Purchase Yield 5%.
Nov 10 2020 Commercial PropertyBOP
A vacating tenant has provided the opportunity to convert this dated office into 2x very well located CBD industrial units. Leased prior to works commencing, we have pricing and have now commenced demolition. Building Consent is expected shortly to enable the contractors to complete the project. The new rental level at a reduced capitalisation rate has provided a good development margin to justify the works. We are keen to see this transformation progress over the next three months.
Nov 10 2020 Commercial PropertyBOP
We are at Building Consent phase of this major redevelopment to a Tauranga CBD property. The original façade is earthquake prone so we will be replacing it to a new lightweight and effective design complementing the bold architecture of 1 Devonport next door. We believe modern retail needs to be small format and high value goods, with that in mind we will shrink the existing ground floor tenancies providing more room at the back of the property to expand carparking for the fist floor offices. Construction is looking to commence early 2021 with completion in August.
Oct 15 2020 Commercial PropertyWaikato
We are very happy to see the scaffold coming down on this project, it has been a major external upgrade that will take this building well into the next 50 years. Kianga Ora have begun their fitout works and are aiming to relocate in early 2021 commencing their new 9 year lease. Focus on Property has undertaken all project management on this $2.5m upgrade, from lease conception, design approval, construction pricing, finance and tenant fitout coordination.
Oct 10 2020 Commercial PropertyWaikato
Focus on Property has been successful in obtaining a new lease to Sleep Tight Beds. This involved also negotiating a surrender of lease to the sitting tenant who had a complex history at the site. We are very happy with the outcome to be changing the use from industrial warehouse to retail showroom, this will involve a capital upgrade by the owner but a strong lift in rent and a long lease more than justifies the expense.
Oct 3 2020 Commercial PropertyWaikato
We have been successful in securing the property off-market from the developer. This multi-tenanted, 5 year WALT, low site coverage, recently refurbished and extended property was all that we were looking for and complement the owner’s existing portfolio. The London Street location is fantastic and road frontage profile is wide for entry/exit of the 25 onsite carparks. We are very much looking forward managing the property going forward.
Oct 1 2020 Commercial Property Hawkes Bay
After a long marketing campaign interrupted by Covid-19, Bayleys were able to successfully sell 215 Railway Road, Hastings to an overseas investor. Focus On Property was introduced to the purchaser during their Due Diligence period and subsequently gave the purchaser the confidence and to proceed with the sale. Being six storeys high, 2920sqm of floor area and with 28 current tenants, Focus On Property is excited and up for the challenge.
Jul 22 2020 Commercial PropertyBOP
This small block of industrial units in sought-after Cypress Street is well suited to our new client owners. The functional units are simple, versatile and can be steadily improved to increase the revenue over time. We are very pleased with the purchase price and now place it in the safe hands of the property management team for daily administration.
Purchase Price $1.6m. Yield 6%.
Jul 1 2020 Commercial PropertyWaikato
Construction underway. 850 Victoria Street is in for a much needed makeover with the anchor tenant, Kianga Ora re-signing on a new 9 year lease for the first floor. The base build involves installing a 3 level passenger lift, a new roof, new external aluminium joinery throughout and of course the entire office warm shell fitout for KO. Completion is expected December 2020. You will not miss these big Marra signs on Victoria Street.
Jun 30 2020 Commercial PropertyBOP
Focus On Property Hawke’s Bay was able to secure this A grade industrial property off market through Susan Davis at Property Brokers. Newton Street is the most sought after industrial location in Tauranga. After several weeks of Due Dilligence Focus was able to place the property with a new Focus Hawke’s Bay client.
Purchase Price $2,760,000 Yield 5.00%
Jun 20 2020 Commercial PropertyBOP
Leased - First Floor, 290 Cameron Road. We are very pleased to have the BOP District Health Board moving back into this first floor office. With a quick makeover of paint, carpet, lighting and aircon the DHB will be ready to move in on the 1st of August.
Jun 10 2020 Commercial PropertyBOP
Leased. This is the big one, 2,500m2 of prime Tauriko warehouse has been leased to our existing tenant HK Kitchens next door. We are thrilled to support the success of an existing tenant and help them expand into bigger space without having to move at all. HK Kitchens will take some time to fitout the new side and make it their own, we are looking forward to seeing the production increase.
Jun 1 2020 Commercial PropertyHawkes Bay
A recent purchase for an Auckland based couple is the ex diary factory in Williams Street Hastings. Now split between 11 Tenants, there is an exciting mix of food processing, industrial manufacturing, storage and office use based on 8000sqm of land. The Hawke's Bay industrial market is strong and this will be an excellent long term land hold.
1 May 2020 Commercial PropertyBOP
Construction Complete. 42 Second Avenue has come up incredibly well for our new tenant Omninet. The office is predominantly open plan with Director offices along one wall, it also includes a new mezzanine lunchroom and service bay for IT equipment. The carparking was a pivotal attraction to the site, allowing 9 onsite for Omninet.
April 1 2020 Commercial Property Hawkes Bay
A long standing investment for a Bay of Plenty family since 2001, the time is now right to hand over the management to the professionals. A large 1,400sqm office site over two floors with five tenants, this investment will keep our team busy with some long term upgrades planned.
March 18 2020 Commercial PropertyHawkes Bay
A current overseas based client has expanded their Hawke’s Bay portfolio with the recent purchase of 151-155 Emerson Street. With new 5 year leases to national tenants Barber Shop and Strandbags, this is a strategic purchase in middle to upper Emerson Street.
March 18 2020 Commercial Property Hawkes Bay
A new out of town investor has purchased the property at 19 Marine Parade and engaged the services of Focus on Property to manage their investment. Built in 2007 this is a 100% NBS three storey property with glass frontage and amazing views of Marine Parade.
January 30 2020 Commercial PropertyWaikato
This property is fringe Hamilton CBD but in very good company, with neighbours like Deloites, Southern Cross Hospital and the Hills Apartments we are confident in the growth of this location.
The new owners are from a farming background and are happily diversifying their investments into another industry sector.
The building is currently fully let to a long established charity and holds future redevelopment potential should there ever be a vacancy.
Purchase Yield : 7.6%
Dec 30 2019 Commercial PropertyBOP
Leased. This ex-showroom and industrial tenancy is set to be converted to a modern office for Omninet, a local IT service providing company with up to 20 staff. We are hugely excited to be completing this project and look forward to it taking shape over the next few months.
Dec 30 2019 Commercial PropertyBOP
Bookending the Te Puke Main Street, we have helped an existing client to purchase this high profile site for redevelopment. The existing building has a very poor earthquake rating and issues with the current lease agreements, we intend on substantially upgrading and re-pitching this corner site to quality offices.
We are confident in the growth of Te Puke as a Kiwifruit growing powerhouse and many businesses are needing to expand to keep up with the industry demands.
Purchase Price : $1,275,000
Oct 30 2019 Commercial PropertyBOP
Focus on Property have established a small group of Wholesale Investors to purchase this corner site at the top end of Devonport Road. Located diagonally opposite the new $100M Farmers mixed use development and in front of the recently refurbished BoP Regional Council building, we intend to scrub up this rough diamond to be a part of the new CBD growth. Encompassing 5 separate tenancies and 4 covered carparks there is rental growth to be obtained and through active property management we hope to see substantial capital gain.
Purchase Yield 3.92% (passing yield)
Oct 15 2019 Commercial PropertyBOP
Focus on Property has facilitated the purchase of 1 & 19 Devonport Road for an existing client. With a commanding CBD location and a bold design, 1 Devonport Road gets your attention. Anchored by a 10 year lease to a National tenant and adjacent to numerous development sites, this property is positioned well to benefit as the immediate landscape changes. It is a challenging retail environment but we a confident in the growth of the CBD and it’s revitalisation, we will be working hard to reposition and bring life to downtown Tauranga.
19 Devonport is known as the Davies Building and has been identified as earthquake prone, we intend to strengthen or demolish depending on the outcome of further Structural Engineering assessments.
Purchase Yield 4.36% (passing yield)
Oct 3 2019 Commercial Property Hawkes Bay
A new client to Focus On Property Hawke’s Bay settled on this property on the 8th August 2019. The Onekawa industry area is very tightly held and vacancy rates are at their lowest of all time.
After several months of due diligence, we have secured this property for $1,350,000 being a yield of 9.23%.
September 25 2019 Updates
Eight years after first starting at Focus on Property, David has made the step of purchasing Greg’s shareholding in the business and is very excited about this next phase of life. Having been submersed in commercial property all his life, he has now built up a reasonable personal investment portfolio and is confidently assisting others to do the same. Having taken the reigns of all day to day operations 3 years ago, David is now ready to have further influence on the future direction of Focus on Property to continue its ongoing success.
Greg is still as passionate as ever about the business and what we do for clients and therefore is not looking to retire any time soon, perhaps to just a spend a little more time on the boat would be nice. Greg is continuing on as a Director and will still be intricately involved in the strategic direction of Focus on Property for several years yet.
September 9 2019 Commercial PropertyWaikato
Purchased at Auction for $3.65M, this is the first commercial property for a couple seeking a robust investment in a central location. This building is split into four tenancies offering diversity of income and a great north-facing profile. Newton Street is pedigree investment stock and we look forward to managing this asset on behalf of the new owners. Purchase Yield 4.61%.
August 7 2019 Commercial PropertyBOP
An existing client has taken the next step buying their second commercial property within 2 years. We are seeing the major developments of Farmers, Latitude Apartments, the University of Waikato and 2 Devonport Road as catalysts for a CBD revitalisation. When these projects are complete we want to be right amongst them and be a part of a new CBD. Devonport Road will always be the Main Street and with wide profile, two tenancies and rear service lane access, this property is prime for any future redevelopment of its own.
Purchase Yield 6.35%.
Jul 12 2019 Commercial PropertyWaikato
A new Client to Focus on Property has purchased this property in the CBD of Hamilton. 103 Tristram is a corner site with fantastic profile to one of the main arterial routes into town. A split risk investment with 4 separate office tenants, 75% NBS and ample parking, we see this site having good long term growth.
With a 3 year WALT the property has strong security of income making it a very bankable investment.
Purchase Yield 6.1%
May 1 2019 Commercial PropertyWaikato
We now have final drawings lodged with Council to install a three level passenger lift in this existing building. The upgrade will provide an accessible pathway to the first and ground floor for everyone using the building, we will be targeting government tenants to come in beside the existing government tenant, Housing NZ.
The existing building.
April 1 2019 Commercial PropertyWaikato
We have assisted a new client to Focus on Property to purchase the building at 89 Church Road, Hamilton. This building has a large number of tenants all having shared use of common areas, the existing leases were very unusual in nature and we will be renegotiating many of the clauses and areas to bring them into line with industry practice.
The clients are very happy and we look forward to adding value as the area transforms to more bulk retail and higher quality end users.
Purchase Yield 5.75%
Feb 1 2019 Commercial PropertyBOP
We have been successful in securing the side by side units at 4 Keahi Rise for two separate Focus on Property clients. They were purchased on a unit titled basis but we were able to work with the developer to resurvey and create two freehold titles, instantly adding value prior to settlement. A good result for the owners who have safety of income with a 2 year vendor lease back as we search for incoming tenants.
Purchase Yield 5.7%
Nov 21 2018 Commercial Property
The Childcare Facility and Convenience Centre has now obtained the leasing threshold necessary to begin construction. Iline Construction have been awarded the contract and we are expecting completion in April 2019.
We are very excited to be underway on this project to bring the essential service sector needed to the Tauriko Business Estate.
There are still 3 retail tenancies available so please contact us for further information.
Jul 5 2018 Commercial PropertyWaikato
A family group has been successful in acquiring this property at the North end of Victoria Street, Hamilton. This is the fourth purchase for this family that Focus on Property has assisted in identifying and then creating the add value strategy to support their investment goals.
The Property is fully leased to Housing NZ, Advanced Training Centres (MOE Funded), Platform Plus (subsidiary of the Waikato Community Trust) and Hamilton Tenant Solutions Ltd.
The property is in three titles with two separate buildings. The tenancy fitouts are currently in a tired condition however, overtime the owners will re-invest to substantially upgrade this building to a modern and desirable place to be.
Building size: 2014m2
Carparks: 58
Purchase Price : $4.3M
Yield on Purchase: 8.7%
April 17 2018 Commercial PropertyBOP
We have been successful in securing the “Tauriko Convenience Center” on behalf of an existing client. Currently bare land, this property is fully consented for a childcare center and up to 7 small retail units. The owners will move straight into a marketing campaign to secure tenant interest and once the threshold obtained will commence construction of this quality designed precinct.
March 23 2018 Commercial PropertyBOP
Building consent has been issued for the property at 15 Wharf Street, Tauranga, where Focus on Property are managing a complete refurbishment of the top floor office and an upgrade to the exterior façade.
We are seeking tenant enquiries, so please contact us or your preferred real estate agent
March 2 2018 Commercial PropertyBOP
A Focus on Property client has purchased this 3700m² lot unconditionally for $475/m2. The lot is on an extremely high-profile roundabout, has great geotech with no building restrictions and is entirely flat.
We are working with real estate agents to secure the tenant who can best make use of this commanding location.
Once an Agreement to Lease is completed, Focus on Property will engage the consultant team to bring the project to life.
Feb 1 2018 Commercial PropertyBOP
The car park development in Durham Street, Tauranga, is now complete with many of our existing CBD tenants taking on long-term leases of the space.
We have project-managed this development from inception to completion and it has proven a very successful endeavour for the owners. Car park rates have risen by nearly 50% over the past year, which is unprecedented for Tauranga.
Jun 9 2017 Commercial PropertyWaikato
Focus on Property has proudly completed the Wholesale Investor Syndication of 6-14 Parkinson Place, Te Rapa, Hamilton.
The ownership structure is by way of a Limited Partnership and is forecast to provide an 8.25% pa pre-tax return paid monthly to the investors.
Wholesale Investors have contributed $6m of equity and bank funding a further $5.045m to enable a smooth settlement for the vendors. The property was acquired for $10.75m and now sits with the management team for the day-to-day operations and reporting to the investors.
March 31 2017 Commercial PropertyBOP
An existing client of Focus on Property has purchased 93 Durham Street in the heart of Tauranga’s CBD. This site is next to their first investment property and is a great addition to their portfolio. The original homestead is to be demolished to make way for a large retaining wall to allow split-level on grade car parking within the inner CBD. The site also encompasses the University of Waikato Tauranga CBD Campus Development.
It is expected to hold up to 30 car parks and we expect these to become very desirable as the development intensifies along Durham Street. The long-term development options are diverse, as holding incomes give investors ample time before deciding to build upwards.
March 23 2017 Commercial PropertyBOP
A long-term Focus on Property client has purchased the 4000m² lot at 2 Keahi Rise, The Lakes Tauranga. This property is elevated above Paerangi Place and holds commanding views back towards the Taurikura Drive roundabout.
The property has been purchased to seek tenant interest for a design build and long-term investment hold.
Feb 1 2017 Commercial PropertyWaikato
Focus on Property has obtained a conditional contract on the property at 6-14 Parkinson Place, Te Rapa, Hamilton.
The property is 100% tenanted by the Accident Compensation Corporation of New Zealand on a nine-year lease with five years to run. The property is located just north of The Base Shopping Centre and houses over 400 ACC staff in 4557m² of A grade office.
We intend to syndicate this property to a small group of wholesale commercial investors over the coming months.
Contact Focus on Property!