By True Commercial
Airport Oaks industrial
A 5270sq m industrial building on a 7279sq m site at 2 Freight Place, Airport Oaks, on the corner with Richard Pearse Drive, sold for $9,735,000 at a 5.75 per cent yield through Mike Adams, Bayleys Auckland and Dave Stanley, Bayleys South Auckland. It was built in the early 2000s, and is occupied by logistics provider Online Distribution on a 10-year lease until October 31, 2024, with rights of renewal until October 2033.
Papamoa childcare centre
A 427sq m new childcare centre on 1486sq m of land at 2 Te Rito Way, Papamoa, has sold for $2,975,000 and a yield of 6.35 per cent in a deal brokered by Rob Schoeser, Simon Clark and Duncan Woodhouse of Colliers International.
Morningside freehold site
An 813sq m freehold site zoned Business Local Centre, with an 18m height limit, at 596 New North Rd, Morningside; along with a 295sq m warehouse and office building at the rear sold for $2,520,000 through James Were and Scott Kirk of Bayleys Auckland and City Fringe team. It has two short term leases providing holding income until July 2018 of $69,500.
Modern Wiri building
A modern 600sq m industrial building on a 3140sq m site zoned Light Industry at 20 Hobil Avenue, Wiri, was sold to an owner-occupier for $1,970,000 through Mike Marinkovich of Bayleys South Auckland.
A 830sq m commercial office with apartments upstairs at 558 Papamoa Beach Rd, Papamoa, has sold for $1,330,000 at a yield of 7.7 per cent in a deal brokered by Simon Clark and Grant White of Colliers International.
A 966sq m two-level 1970s' warehouse and showroom building on a 1424sq m site in three titles at 7, 9 & 11 Hopper St, Te Aro, Wellington has sold with vacant possession to an owner-occupier for $3,601,111 through Mark Walker and James Higgie, Bayleys Wellington. Two bare land titles have future residential development potential.
A 883sq m commercial office/showroom at 18 Marsh St, Tauranga, was sold by Simon Clark and Duncan Woodhouse of Colliers International for $1,750,000 representing a yield of 4.95 per cent.
St John's Bidfood lease
A 2930sq m commercial office at 64 Morrin Rd, St John's, Auckland, has been leased to Bidfood Ltd by Paul Jarvie and Andrew Hooper of Colliers International, for annual rent of $423,207.