113.5 sq m single-level retail premises, with six car parks, on a 273sq m Mixed Use zoned corner site at 471 Mt Eden Rd, has sold for $2.1m through Bayleys' Tony Chaudhary, Amy Weng and Phil Haydock. Short term tenancy to a furniture store provides holding income.
Petone vacant industrial
An industrial property at 140 Hutt Rd, Petone, has sold with vacant possession for $2,475,000. The property comprises a 1020sq m warehouse, showroom and office on a 1160sq m freehold site with 10 car parks. The deal was brokered by Kieran Lennon of Colliers, with Gollins Commercial.
East Tamaki units
Two units, each with six car parks, in a recently refurbished six-unit office complex at 363 East Tamaki Rd, were sold by Roy Rudolph and John Bolton, Bayleys South Auckland for a total of $1,551,000. One with 242sq m unit sold for $786,000 (at a 7 per cent yield), with a new 10-year lease to an accountancy firm. The other, a 222 sq m ground floor unit, sold vacant for $765,000.
Hastings new development
A new 510sq m industrial development at 822 Omahu Rd, Hastings, leased to engineering supplies company SaecoWilson, was sold by negotiation for $1.46m, representing a yield of 6.5 per cent, in a deal brokered by Danny Blair of Colliers Hawke's Bay.
Wairau Valley bakery
A 133sq m retail unit at 65-71 Porana Rd, Wairau Valley, was sold at auction for $1,025,000 at a 5.36 per cent yield by Adam Curtis, Damian Stephen and Steven Liu of Bayleys.
Gisborne Te Karaka farm
A 38.8ha farm at 319 Whatatutu Rd, Te Karaka, sold at auction with vacant possession for $1.15m. It has 20ha of fertile cropping land; 18ha of grazing land; 3ha leased to a local nursery and a large shed complex. The property was marketed by David Egan and Alan Thorpe of Colliers' Gisborne.
