RECENT DEALS for Tuesday, March 21

By Paul Charman

This office building at 2 Kalmia St, Ellerslie, sold at auction for $5.4 million. Photo / Supplied
This office building at 2 Kalmia St, Ellerslie, sold at auction for $5.4 million. Photo / Supplied

Ellerslie office building
A 1477sq m office on a 2032sq m site at 2 Kalmia St, Ellerslie, Auckland, marketed by Gareth Fraser, Greg Goldfinch and Simon Child of Colliers International, has sold at auction for $5.4m, representing a yield of 6.92 per cent.

Auctioned in Hamilton

A new 1426sq m two-level A-grade office building on an 825sq m Hamilton city site at 238 Anglesea St, Hamilton, has sold at a Bayleys Total Property auction for $4.7m at a 5.4 per cent yield, through Alex ten Hove and Mike Swanson of Bayleys Waikato. Located on the corner with Collingwood St, it is fully leased to three tenants on three to six-year leases with Mike Greer Homes on ground floor and The Public Trust above.

Airport Oaks industrial

A 2940sq m industrial property at 46 Andrew Baxter Drive, Airport Oaks, Auckland, has sold at auction for $3.9m, representing a yield of 5.07 per cent, following its marketing by Brad Johnston and Paul Jarvie of Colliers International.

Tauranga city commercial

At a Bayleys Total Property Tauranga auction, an 890sq m two-level commercial building on a 481sq m CBD site next to a large carpark at 56 Elizabeth St, was sold for $2,150,000 through Brendon and Lynn Bradley. Partly occupied by Subway, with the balance of the ground floor and upper level office space vacant, it has estimated potential net annual rental income of approximately $180,000 plus GST.

Ngongataha land site

A freehold 2.66ha industrial development land site at 422-430 Ngongotaha Rd, Rotorua, with a 1056sq m warehouse building has been sold with vacant possession for $2.4m by Mark Rendell of Colliers International.

Waikato Drycleaners tenant

Selling for $500,000 at a 6.4 per cent yield, after a Bayleys Total Property auction in Hamilton, was a 352sq m two-level building on a 607sq m corner site at 92 Kent St, Frankton. Marketed by Brendon and Lynn Bradley of Bayleys Tauranga and Mike Swanson of Bayleys Waikato, property has Waikato Drycleaners as a long established tenant on a three-year lease from September 2014, with two three-year rights of renewal.

- NZ Herald

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