A large-scale Tegel-supply poultry farm on the outskirts of Rolleston, near Christchurch, has sold for $4.75m through Ruth Hodges of Colliers. The 8.1ha property at 437 Maddisons Rd has 5640sq m of shed space across five buildings, plus a 167sq m house and a 4ha block of land suitable for expansion or subdivision.
Mt Wellington industrial
A 531sq m road front warehouse/workshop on an 827sq m Light Industry zoned site at 224 Marua Rd, Mt Wellington, recorded the lowest yield at a recent Bayleys' Total Property auction in Auckland. It was sold by Jarrod Qin for $1.37m at 3.79 per cent yield on its lease to Ivan Motors of six-years from January 2016, with two six-year rights of renewal.
Clyde cherry orchard land
A 96ha bare landholding on Waikerikeri Valley Rd in Clyde, Central Otago, has been purchased by MyFarm Investments to establish a new cherry orchard for syndication. The $3.4m transaction was brokered by Richard O'Sullivan of Colliers in Christchurch.
Avondale mixed use buildings
Two separate buildings constructed in the mid-1960s totalling 604sq m on an under-utilised 1104sq m site at 9 St Jude St, Avondale; and zoned Business Mixed Use (with 21m height limit) sold at auction for $1.75m. Marketed by Layne Harwood and Kate Kirby, Bayleys Auckland, and comprising a mix of retail, office and warehouse space, the property sold fully leased at a 5.86 per cent yield.
New Plymouth retail property
A New Plymouth retail property, anchored by national tenant Freedom Furniture on a long-term lease, was sold by Benet Carroll of Colliers New Plymouth to a local investor for $2,673,050, representing a yield of 7.2 per cent. The 2006sq m property at 89-99 Molesworth St is on two titles with a building on each, giving a combined net lettable area of 1230sq m.
Bush Rd Albany painted unit
A 263 sq m recently painted road frontage industrial unit with six car parks at 156 Bush Rd, Albany, sold at auction vacant for $1.25m through Matt Mimmack and Rosemary Wakeman, Bayleys North Shore Commercial. It comprises a 141sq m high-stud warehouse and 122sq m of air-conditioned offices and showroom.
Christchurch seaside complex
Courtney Doig of Colliers has brokered the sale of an 'as is where is' a Christchurch seaside retail complex at 2 Brighton Mall, 16 Brighton Mall and 211 Marine Parade; having respective net lettable building areas of 433sq m, 349sq m and 504sq m. The value-add opportunity, on a prime corner position covering 1286sq m in three titles, went under the hammer for $1,105,000.
Tauranga commercial auctioned
A three-level 530sq m commercial and residential building on a 326sq m CBD site with a19m height limit at 132 Devonport Rd, Tauranga was sold by Lloyd Davidson at a Bayleys' Tauranga Total Property auction for $1.2m. It has a leaseback to the vendor for a year at $45,000 plus GST.
