Parklands Motor Lodge and its 2.78ha freehold site, at 25 Te Arahori St, Turangi, has been sold by negotiation for $4.1m in a deal brokered by Danny Blair of Colliers.
Browns Bay commercial unit
Unit G1 87-107 Clyde Rd, Browns Bay, comprising 1178sq m of fully leased commercial premises, plus 28 car parks and seven tenancies, has been sold for $5.7m at a 6.88 per cent yield, by Bayleys' Matt Gordon, Matt Mimmack and Cameron Melhuish.
Gisborne citrus orchard
An 11.07ha citrus orchard and homestead, at 297 Matawai Rd, Waerenga-a-hika, Gisborne, was sold prior to auction for $2.3m in a deal brokered by rural and lifestyle specialists David Egan and Alan Thorpe of Colliers.
Balmoral retail building
A 485sq m commercial building in the Balmoral retail strip on a 539sq m site at 654-656 Dominion Rd, Mt Eden, was sold for $1.85m at a 5.40 per cent yield through Bayleys' Alan Haydock, Phil Haydock and Millie Liang. It is fully leased to a karaoke bar and restaurant tenancy.
Christchurch Manchester St
A 1205sq m single-level, seismically strengthened commercial building on a 2243sq m site, at 348 Manchester St, Christchurch, has sold for $4.15m at a 6.57 per cent yield through Bayleys' Jeremy Speight, Blair Young and Mitchell Wallace.
Hastings modern retail
A 595sq m modern standalone building on a 950sq m site in central Hastings, at 322 Heretaunga St East, sold for $1,625,000 at a 7.08 per cent yield through Bayleys' Rollo Vavasour, Mike Houlker and Sunil Bhana. National tenant Dollar King has an eight-year lease from February.
Pandora Napier industrial
An industrial property encompassing 1792sq m of warehousing on a 5826sq m freehold site and having four income streams at 11 Severn St, Pandora, Napier, was sold by deadline private treaty for $2.2m at a yield of 6.68 per cent through Dan Walker of Colliers.
East Tamaki industrial
A 1244sq m industrial unit at 7A Arwen Pl, East Tamaki, Auckland, has been leased to a private import and distribution company for net annual rent of $180,000 in a four-year term in a deal negotiated by Joshua Franklin and Jolyon Thomson of Colliers.
