$1.8m sale

A furniture business has bought an Otahuhu industrial building at 34 Saleyards Rd for $1,810,000. The 4415sq m building is on a 6060sq m site and was sold vacant by Robert Platt, Kathryn Robinson and David Gubb, of Bayleys Auckland.

Sale yields 8.75pc

A Mt Wellington building leased to George Stock & Co sold for $1,070,200, showing an 8.75 per cent yield. The 807sqm, high-stud warehouse, showroom and office building occupies a 1703sq m site at 2 Apunga Pl, off Carbine Rd. Mike Houlker and David Gubb, of Bayleys Auckland, were the agents.

St Johns treaty

An industrial property in St Johns, Auckland, sold by private treaty for $780,000. The property, at 110-112 Felton Mathew Ave, has two industrial buildings of 2085sq m. Four tenants pay $119,063 annually. Hermann Trebitsch, of Barfoot & Thompson Commercial, sold the property.

Moving business

An older style warehouse building leased to Elite Furniture Movers until 2007 sold for $1,690,000, showing a 12 per cent yield. The property, at 34c Stoddard Rd in Mt Roskill, Auckland, has 3953sq m of warehousing. David Gubb, Steve Mason and Mark Pittaway of Bayleys sold it.

Island parcel

A bush-clad 4891sq m site at 21-29 Te Aroha Ave, on Waiheke Island, sold for $375,000. The five-lot parcel of land is 120m from Hekerua Bay. Anthony Barnao, of Barfoot & Thompson Commercial, was the agent.

AUT lets

Auckland University of Technology has sub-let 525sq m of office space from Oracle Corporation in the Oracle Tower in Auckland's CBD. AUT will pay $118,000 net rent annually. Andre Siergert, of Bayleys, negotiated the lease which runs until late 2007.

Classic occupant

Unit 5 at 94 Ellice Rd in the Wairau Valley on Auckland's North Shore sold for $103,500. The property returns $11,000 rent annually on a one-year lease to a classic car restorer. Denis Murray of Barfoot & Thompson Commercial sold it.

Westmark trust

Chancery shopping centre developer Westmark Group paid $1.2 million to a trust just before Christmas to get 507 Great South Rd in Otahuhu, Auckland. The 3750sq m site was the former VW motor vehicle assembly plant and is now being redeveloped as a shop and office site. Haig Robinson of L.J. Hooker Papatoetoe made the sale. Westmark was in a joint venture with Mark Lyon's Mission Corporation to build The Chancery shopping centre in Auckland's CBD.