Recent Deals for Saturday February 23

This Napier Art Deco building in which ASB bank is anchor tenant sold for $2.65 million. Photo / Supplied

Napier Art Deco building

A landmark 1038sq m Art Deco building on a 794sq m CBD corner site at 100-106 Hastings St, Napier, has sold for $2.65m at a 6.94 per cent yield through Sam MacDonald of Bayleys Hawke's Bay. Earning $183,850 a year in net rent plus GST, the ASB Bank is anchor tenant on a six-year lease from March 2017 plus one six-year right of renewal with Opossum World occupying the balance of ground floor on four-year lease from March 2017 plus one 4-year right of renewal. The 225sq m first floor office is currently vacant.

Medical Mile sale

A medical investment property at 126A Remuera Rd, Auckland, has sold for $3.2mand a yield of 4.97 per cent. The 354sq m property is on a prime stretch of the 'Medical Mile', between Newmarket and Remuera Village. The off-market deal was brokered by Hamish Paterson, David Burley and Simon Child of ColliersInternational.

The Warehouse Hastings

A 6400sq m bulk retail building purpose built as The Warehouse Hastings in 2012,at 620 Karamu North Rd, has been sold for $19.76m at a 6.13 per cent yield by Bayleys agents Jim McKinlay and Mark Hourigan. There is a 15-year lease in place until March 2027.

Fyfe Kitchens Tamakibase

Fyfe Kitchens' base at 60 Allens Rd, East Tamaki, has sold for $4.75m, at a yield of 2.3 per cent, in a deal brokered by Colliers' Paul Higgins and Joshua Franklin.

North Harbour industrial

An industrial investment property with a recently renewed lease at 9A Parkhead Pl, North Harbour, has sold for $2.26m at a yield of 5.34 per cent in a deal brokered byMatt Prentice and Ryan de Zwart of Colliers.

Takapuna commercial site

An 1126sq m Mixed-Use commercial site at 19 & 21 Taharoto Rd, Takapuna, has sold vacant for $3.95m, at a land price of $3508 per sq m through Eddie Zhong ofBayleys and Bruce Jiao of Barfoot & Thompson.

Onehunga Mall property

A commercial property at 191 Onehunga Mall, has sold for $3.42m and a yield of 4.67 per cent on passing income. The off-market sale by negotiation was brokered by Colliers' Gawan Bakshi, Ned Gow and Adam White.

Two in same street

Bayleys Auckland industrial agents James Valintine, James Hill and Sunil Bhana have sold two properties in Edinburgh St, Onehunga. A 1256sq m warehouse-office building, at 21-23 Edinburgh St, sold for $2.55m and a 361sq m 1970s' warehouse, at 15 Edinburgh St, sold for $1.02m.