Some Recent Projects
Multi Tenant Split Risk - 126 Lake road
Acquisition
A multi-tenant mixed-use commercial investment on one the most prominent arterial road on the Devonport Peninsula, presented a compelling opportunity to secure a well-located asset with diversified income and significant value-add potential. The property was purchased on an attractive 7.4% yield, providing strong initial cash flow and a solid foundation for future income growth. A key component of the investment strategy was recognising the property's exceptional corner profile and prominent exposure to Lake Road. With an average daily traffic count (ADT) more than 20,000 vehicles per day, the site offers outstanding visibility for tenants and signage opportunities. The value-add strategy focused on: •Enhancing signage revenue through the property's premium corner position. •Improving the visibility and exposure available to tenants. •Strengthening tenant appeal through increased brand exposure. •Maximising the property's overall income-generating potential. •Continuing to optimise tenant mix and asset performance over time. This acquisition reflects our investment philosophy of identifying well-located commercial assets with strong underlying fundamentals, multiple income streams and clear opportunities to create additional value through active ownership and asset management.
High Yield + Development Opportunity
Acquisition
A multi-tenanted industrial freehold investment located in the Far North, the property comprises six industrial buildings providing approximately 1,100 sqm of warehouse and office accommodation on a substantial landholding of approximately 9,600 sqm. The asset offers significant industrial land value with future development and value-add potential through its attractive land-to-building ratio. Key investment features include: Fully leased multi-income asset with diversified cash flow from nine established industrial tenants. Business – Light Industry zoning with extensive flat yard areas. Located within an established industrial precinct with strong underlying land value. An attractive land-to-building proportion, providing scope for future development, expansion of existing improvements, additional yard infrastructure, or potential subdivision opportunities. Below-market rental levels across several tenancies, creating the opportunity for future rental growth and income enhancement. Established tenant profile providing resilient and diversified income streams. Since acquisition, additional tenants have been secured, increasing occupancy, strengthening income resilience, and enhancing the overall investment profile. This was not a passive acquisition opportunity. The property represented a high-risk investment requiring extensive due diligence to identify, understand, and mitigate a range of property, tenancy, compliance, and operational risks. Through detailed investigation and active asset management, these risks were addressed, allowing the asset to be repositioned and its underlying value more effectively realised. In essence, the property represents a land-rich, fully leased industrial investment with diversified income, strong tenant demand, and future upside through rental growth, active management initiatives, development, and potential subdivision opportunities.
Leasing & Value Add - Victoria road, Devonport
Delivered strategic asset and property management for a multi-tenant mixed-use property in Devonport, consisting of three office leases and one restaurant lease. Over a two-year period, improved tenant retention, secured long-term lease commitments, and enhanced cash flow certainty, resulting in significant value creation and increased security of the investment asset.
Leasing & Value Add - 335 Lake Road, Hauraki
With the recent downturn in the hospitality sector, Hauraki Social Club, a popular Devonport restaurant and bar, faced increasing pressure from occupancy costs and challenging trading conditions. Commercial Brokers was engaged to develop a solution that would ease the tenant’s financial burden while allowing the business to continue operating without disruption. Through a proactive leasing strategy, we identified and secured a complementary tenant to occupy part of the premises and contribute to the rental outgoings. This arrangement enabled Hauraki Social Club to maintain its presence and continue trading as usual, while improving the property's income security, reducing vacancy risk, and enhancing the overall value of the asset. Hauraki Social Club: Restaurant & Bar.
Alison Building - Multi tenant
Leasing Add Value
The Alison Building is one of Devonport's most beautifully presented and meticulously maintained character heritage commercial properties. Over recent years, Commercial Brokers has played an active role in enhancing the building's performance and tenancy profile, including successfully securing new tenants such as Mixt NZ Art + Design for the retail space and a quality office tenant. In addition, we have worked closely with owners to help reduce operating expenses, negotiate and complete multiple lease renewals, and ensure the property continues to attract and retain high-calibre tenants and adding value with its long-term value and performance.