RECENT DEALS for August 20

This Te Rapa bulk retail store sold at auction for $3,650,000 for a 7.09 per cent yield

Te Rapa bulk retail store

A 1440sq m bulk retail store covering only one third of a 4262sq m site with 66 carparks at 7 Maui St, Te Rapa, Hamilton has sold under the hammer at a Bayleys Total Property auction in Hamilton for $3,650,000 for a 7.09 per cent yield.. It was sold to an Auckland investor through Andrew Shaw and Jason Kong, Bayleys Waikato. PK Furniture has taken over balance of a previous eight-year lease to Fishing Camping Outdoors (which closed its NZ operations last year) until November 2019 with fixed rental increases of 3.5 per cent per annum and two eight-year rights of renewal.

Tauranga warehouse

A 4600sq m warehouse facility on a freehold 10,000sq m industrial site on the corner of Whakakake St and Poturi St, in Tauranga's Tauriko Business Park, has been sold by Simon Clark and Rob Schoeser of Colliers International for $7m, representing a yield of 6.5 per cent..

Hasting orchard picked

The 15.39 hectare Pernel Orchard sitting in three titles at 1412 Pakowhai Rd, Hastings, and encompassing extensive infrastructure, has been sold for $3,275,000 by Louise Wake of Colliers International.

Mission Bay medical centre

A281sq m former residence, converted to commercial use and most recently occupied by a medical centre, on an 809sq m Residential 6A site with eight on-site car parks at 307 Kepa Rd, Mission Bay, has been sold with vacant possession for $2.3m by Tony Chaudhary, Janak Darji and Amy Weng of Bayleys South Auckland.

Hamilton land parcel

A 6052sq m freehold, commercial land parcel at Lot 1 535-539 Te Rapa Rd, Hamilton has been sold for $2,175,000 by Alan Pracy of Colliers International.

Pukekohe heritage building

A 392sq m two-level heritage building dating back to the early 1900s on a 276sq m site at 3 West St in the centre of Pukekohe, with three tenancies comprising a Thai restaurant, a cafe and bakery plus a first floor 4-bedroom apartment, has sold after a Bayleys Total Property auction for $1.1m at a 6.5 per cent yield through Graeme Moore of Bayleys Pukekohe office.