An off-the-plan commercial office at 102C Hobsonville Rd has sold off market for $2,848,000 by Corinthian Properties in a deal brokered by Sean Finnegan and Craig Smith of Colliers. This sale is part of a $23m development by Kea and includes a childcare centre, retail, cafes, commercial services and offices.
Albany development site
A 1969sq m freehold development site at 290 Oteha Valley Rd, Albany, has sold for $3.2m by negotiation. The deal was brokered by Kathy Ying of Whillans Group, a land rate of $1625 per sq m.
Millwater units
Two retail investments designated U11 and U13 at175 Millwater Parkway, Millwater, have sold at auction for $881,000 and a yield of 4.97 per cent; and $1,501,000 for a yield of 5.87 per cent; to private investors in deals brokered by Euan Stratton, Matt Prentice and Shoneet Chand of Colliers International.
Hill Rd Manurewa
A 5.1445ha mostly bare land site with an easy contour at 261 Hill Rd, Manurewa, sold with vacant possession for $7m at $136 per sq m through Peter Migounoff and Piyush Kumar of Bayleys South Auckland. It is zoned Mixed Housing Suburban-Future Urban under the new Unitary Plan.
New Lynn retail
Four freehold retail investments at Merchant Quarter, Totara Ave, New Lynn, have sold at auction for $900,000, $1,175,000, $618,000 and $500,000. Tenants include Pita Pit, Lumino, Spicy Hot Pot and Vita Source. Yields of 4.4 per cent and 4.7 per cent were achieved for Lumino and Pita Pit. Deals were brokered by Tony Allsop, Josh Coburn and Cherry Higginson of Colliers International.
