A 1087sq m commercial unit with an eight metre high-stud warehouse, showroom, office facilities and 12 car parks at 19G Orbit Drive, Mairangi Bay has sold to an owner/occupier by negotiation for $3.5m net. The deal was brokered by Matt Prentice and Mike Ryan of Colliers International.
St Lukes Food Market
A 104sq m unit in the Sainsbury retail centre in the St Lukes business park has sold, after a Total Property Auckland auction, for $715,000 at a 6.29 per cent yield through James Darji and Amy Weng, Bayleys South Auckland and Phil Haydock, Bayleys Auckland. It has a five-year lease from June 2017 to longstanding occupant St Lukes Food Market.
Rosedale industrial
A four-unit multi-tenanted 849sq m industrial property with six individual leases at 68 Paul Matthews Rd in Rosedale, has sold as one parcel at auction to a private family trust for $3,360,000 net, representing a yield of 5.19 per cent. The deal was brokered by Mike Ryan and Matt Prentice of Colliers International.
East Tamaki former food court
A vacant 558sq m unit, formerly a food court, in a retail complex at 8 Bishop Lenihan Place, East Tamaki, sold for $1.76m at $3154 per sq m through Quinn Ngo of Bayleys Auckland's international division.
Morrinsville Transport building
A 4442sq m industrial site with a 680sq m warehouse and office building at 51 Anderson St, Morrinsville, was sold vacant for $1.34m by Josh Smith, Bayleys Waikato at a Bayleys Total Property auction in Hamilton. It was previously occupied by Morrinsville Transport.
Hastings Russell Road offices
A 663sq m office building on a 6740sq m site at 14 Senamor Place, Hastings, sold for $1.6m at an 8.62 per cent yield through Rollo Vavasour, Bayleys Hawke's Bay. It is leased for six years to civil construction company Russell Roads.
Anzac Ave three-level
A 1097sq m three-storey office building with one parking space on a 356sq m site at 76 Anzac Ave, Auckland CBD, has sold for $5.3m through Tonia Robertson, Bayleys North Shore Commercial. It is partially tenanted, generating annual holding income of $60,000 net plus $96,000 gross.
Palmerston North site
A large industrial zoned site of 23,000sq m opposite Palmerston North Airport at 34 Setters Line, Kelvin Grove, has sold to a private investor for $3,050,000. The deal was brokered by Grant Lloyd, Phil Nevill and Doug Russell of Colliers International.
Howick refurbished commercial
A recently refurbished 443sq m commercial building on an 875sq m site zoned Town Centre (9m height limit) at 8-14 Moore St, Howick, with plenty of parking on under-utilised land at rear, sold for $2.94m at a 4.91 per cent yield through Janak Darji, Amy Weng and Tony Chaudhary, Bayleys South Auckland. Five retail tenants are on the ground floor with a hairdresser and office above.
Tauranga warehouse with offices
A 1794sq m site with an 848sq m industrial warehouse at 2 Roxanne Pl, Tauranga, has sold for $1.1m. The high-stud building has warehousing, air-conditioned offices, a substantial kitchen and sealed yard with 24 car parks. The deal was brokered by Richard Davidson, Rachel Emmerson and Duncan Woodhouse of Colliers.
Whitianga holiday park
The 1.4373ha Harbourside Holiday Park, adjacent to the harbour at 135 Albert St, Whitianga, sold as a freehold going concern at a Bayleys Total Property auction in Hamilton for $2.85m. Marketed by Josh Smith, Bayleys Waikato and Belinda Sammons, Bayleys Whitianga, it has a range of visitor accommodation and communal amenities plus a three-bedroom manager/owner dwelling and powered and unpowered camping sites.
Rotorua childcare centre
A 312sq m childcare centre developed in 2006 and licensed for 50 children on a 1012sq m corner site at 21 Sala St, Rotorua, sold at auction for $1,155,000 at a 6.8 per cent yield through Mark Slade and Brei Gudsell, Bayleys Rotorua. Evolve Group exercised the first of two six-year rights of renewal in March 2018.
