An 8090sq m Christchurch industrial building on a 9101sq m site at 88 Mowbray St, Waltham, sold for $7.615 million at an 8.15 per cent yield through Stewart White and Nick O'Styke of Bayleys Canterbury. Originally built in the 1970s as Woolworths' distribution centre, 4872sq m is leased to Fletcher Building until 2020 with the balance occupied by Harvey Norman until 2022, with rights of renewal on both leases.
Link Drive retail unit
A 462sq m bulk retail unit at 18 Link Dr, Wairau Valley, sold with vacant possession for $1.4m at $3,030 per sq m through Trevor Duffin and Chris White of Bayleys North Shore Commercial. It comprises a 359sq m showroom and mezzanine area of 103sq m plus 12 parking spaces.
Avondale warehouse
A 432sq m warehouse building on a 599sq m site zoned Mixed Use at 7 Wingate St in the heart of Avondale Village sold for $972,000 at a 6.17 per cent yield through Tony Chaudhary of Bayleys South Auckland and Millie Liang of Bayleys Auckland. It has a new four-year lease to Spice World grocery store.
Johnsonville commercial
A 567sq m Wellington commercial building on a 272sq m site at 20 Johnsonville Rd, sold for $2,525,000 at a 7.96 per cent yield through Fraser Press and Jon Pottinger of Bayleys Wellington. Two longstanding tenants are on six-year leases from 2016.
