This student accommodation building in Willis St, Wellington, sold for over $28m. Photo / Supplied
Big Savills' Wellington sale
A large student accommodation property in central Wellington has been sold for $28.3m in a cross-border deal brokered by Savills.
The 280-bed apartment building at 222-232 Willis St was sold by global real estate investment and asset management firm Forum Partners to Hong Kong-based asset manager Value Partners Group.
The six-level building, with a floor area of 6065sq m, occupies a 2187sq m freehold site.
The deal was negotiated by Savills student accommodation director Conal Newland and Auckland managing director Tom McAlister.
The student accommodation is leased to Weltec, with a local café operator occupying a ground floor retail tenancy.
ANZ Centre $181m deal
The Colliers International's capital markets team has brokered the $181m sale of a 50 per cent share of Precinct Properties' ANZ Centre in Auckland CBD to a fund controlled by Invesco. The deal went unconditional this month after the Overseas Investment Office gave approval for the transaction.
Freemans Bay building
The 1404sq m, 1970s-era, two-level industrial and residential building at 25 Hargreaves St, Freemans Bay, has sold to an owner occupier for $6.55m at a 4.77 per cent yield through Alan Haydock of Bayleys Auckland's City & Fringe division. Located on a 1219sq m Mixed Use zoned, on the corner with Gudgeon St, the fully-occupied property has four leases, all with termination clauses, and resource consent for a six-level mixed use development incorporating the existing building.
Manurewa RSA premises
The RSA's premises in Manurewa for the past 50 years has sold vacant for $4m to an owner occupier for use as restaurant and bar through Ben Bayley, Karl Price, Dave Stanley and Tony Chaudhary, Bayleys South Auckland. Located at 6 Maich Rd, the property comprises an 1820sq m commercial building on a 3091 sq m site zoned Light Industry.
Takapuna fringe offices
A 727sq m site on the fringe of Takapuna's central business area with 110sq m office premises in a converted house at 3A Burns Ave, sold vacant for $2.9m through Damian Stephen, Alex Strever and Michael Nees, Bayleys North Shore Commercial
Whangarei central site
A 382sq m two-level retail and office building on a 144sq m central CBD site at 38 Bank St, Whangarei, sold with vacant possession for $1.15m through Jan Hutcheson and Neil Campbell, Bayleys Northland.
Paeroa L&P landmark
The 444sq m landmark L&P Building, with a replica 6m L&P bottle on a 2546sq m corner site, at 2 Seymour St, Paeroa, sold post auction for $650,000 through Jo Stewart and Brendon Bradleyof Bayleys Tauranga. The purchaser will occupy a vacant part of the building where the anchor tenant is L&P Cafe Bar and Brasserie.
Broadway investment
A 770sq m commercial building on an 819sq m freehold site at 5 Broadway, Newmarket, has sold for $6.75m, representing a yield of 4.4 per cent. The off-market deal was brokered by David Burley and Adam White of Colliers' Auckland investment sales team.
Eat My Lunch HQ
The Auckland CBD fringe headquarters of social enterprise Eat My Lunch has sold at auction for $4.35m, at a yield of 4.35 per cent. The auction of 5-7 Galatos St was brought forward after brokers Shoneet Chand and Jonathan Lynch of Colliers presented the vendor with a pre-auction offer. The property, signed to an eight-year lease with two rights of renewal, comprises a 660sq m building on a 706sq m freehold future development site.
Half Moon Bay block
A multi-tenanted retail block at 490 Pakuranga Rd, Half Moon Bay, has sold for $2.9m, representing a yield of 5.74 per cent. The deal was brokered by Gawan Bakshi and Matthew Barnes of Colliers' Auckland investment sales team.
Judea industrial
Colliers' Tauranga brokers Rich Davidson and Rob Schoeser have brokered the sale of 19-25 Montgomery Rd, Judea, for $2.85m, representing for a yield of 6.2 per cent. The 3778sq m industrial property has a net lettable area of about 2042sq m across three freehold titles.