A 668sq m freehold, fully refurbished, two-storey office-warehouse with cafe at 164-174 Khyber Pass Rd, Grafton, in Auckland has been sold to a private investor for $4.8 million by Kris Ongley, Jono Lynch and Shoneet Chand of Colliers International. The sale price represented a yield of 5.4 per cent.
Devonport mixed use building
A 851sq m freehold, mixed use, three-level building at 30 Victoria Rd, Devonport, has been sold for $3.8 million to a private investor by Matt Prentice, Euan Stratton and Shoneet Chand of Colliers International. The sale price represented a yield of 4.7 per cent.
Mt Eden boarding house
A 1846sq m site at 59 View Rd, Mt Eden, with resource consent to subdivide into four residential sections and holding income from a boarding house, has sold for $4.4 million through Stuart Bode of Bayleys Auckland. The long-established boarding house, with 23 rooms including ensuite bathrooms and communal kitchens, is producing net annual rental income of about $220,000.
Oyster & Chop on Viaduct
A 350sq m leasehold unit with a 38sq m courtyard at 91-95 Customs St West, Viaduct Harbour, was sold for $2.4 million at 9.4 per cent yield, by Nigel McNeill of Bayleys Auckland. It is occupied by Oyster & Chop restaurant, with a lease until January 2017 with one six-year right of renewal.
Christchurch development site
JLL has sold a substantial Christchurch town house that is likely to rented out for holiday accommodation and situated on a development site at 2 Bangor St for $2,150,000. The 3736sq m property is beside the Avon River, bordered by parkland and three street frontages, creating a rare island. It was sold through a tender process by agent Chris Harding. The purchaser will look to develop the 450sq m house and outbuildings in the longer term. The property is zoned Central City Residential, Medium to High Density with a maximum building height of 11 metres.
