This Peachgrove Hamilton Countdown supermarket was one of those syndicated.
This Peachgrove Hamilton Countdown supermarket was one of those syndicated.
Syndications oversubscribed
Two separate Augusta Funds Management syndications marketed by Bayleys and encompassing properties occupied by Countdown have attracted over $36 million of investors' equity. One encompassed 503 proportional interests of $50,000 each in Countdown's South Island distribution centre located on a 7.1811 ha industrial site in Hornby, Christchurch. Theother comprised 220 $50,000 interests in a new Countdown supermarket in Hamilton with a 15 year lease to the grocery giant. Mike Houlker, head of Bayleys Investment Products division, says the offerings generated over 1500 inquiries and closed heavily oversubscribed within in a short space of time.
Devonport retail sale
A 408 sq m retail premises on a 574 sq m site at 14 Clarence St, Devonport has been sold by Deborah Dowling, Euan Stratton and Charlie Oscroft of Colliers International for $2 million representing a yield of 3.6 per cent.
Meir Alfassi of Harveys Elysium Realty Te Atatu has sold for $2,050,000, to a private investor, an 18 unit motel complex on a 2064 sq m site at 85 Ash St, Avondale, which is generating $130,000 per annum from a 30 year lease.
Herne Bay's Hellaby building
Herne Bay's historic R & W Hellaby building, built in the early 1900s on a 446 sq m site at 222-228 Jervois Rd on the corner with Albany Rd, has been sold for $3.9 million at a five percent yield through Nigel McNeill of Bayleys Auckland. The fully leased, refurbished 597 sq m two-level building is occupied by five commercial tenants on two to five year leases including the Tessuti luxury homeware and gift shop, the Melanie Roger art gallery and a cafe.
