A refurbished 1500sq m two-level office building on 2006sq m of land at 5 Ryan Place, Manukau, with 24 secure carparks sold for $2.6m through Damien Bullick and Alan Haydock of Bayleys Auckland at a 7.59 per cent yield. A new three-year lease has fixed 2.5 per cent annual rent increases.
Albany commercial unit
A 444sq m unit with 10 carparks at 49 Arrenway Dr, Albany sold with vacant possession for $1.55m through Laurie Burt and Ildy Mexiner, Bayleys North Shore Commercial. It comprises 224sq m of offices with 220sq m of warehousing.
Vietnamese restaurant
A 263sq m single-level commercial building on a high-profile under-developed 932sq m Town Centre zoned site with 16 car parks at 79 Atkinson Ave, Otahuhu, sold for $1.5m at a 3.01 per cent yield through Tony Chaudhary, Janak Darji and Amy Weng of Bayleys South Auckland. Originally constructed in the 1970s as an office building, it is occupied by a Vietnamese restaurant on a four-year lease until October 2018.
Wellington carpark building
A standalone carpark building with 100 per cent of NBS seismic rating, on a prime 551sq m CBD site at 31-35 Boulcott St, Wellington, sold for $3.61m through James Higgie and Mark Hourigan of Bayleys Wellington. With an estimated potential net income of $240,000 per annum, the property comprises 95 car parks of which 57 are leased to Fairfax NZ with the balance vacant.
