RECENT DEALS for April 18
This North Harbour office and warehouse property sold for $3.2 million.
North Harbour Airborne sale
A stand-alone 1277sq m office and warehouse property on a freehold 1603sq m site at 7 Airborne Rd, North Harbour, has been sold for $3.2 million to a private investor by Shoneet Chand and Matt Prentice of Colliers International. The property is earning $206,545 per annum net from two tenants.
Parnell office and showroom
A modern 143sq m mixed use office and showroom on a 314sq m freehold site at 14 Fox St, Parnell, has been sold with vacant possession to a private investor for $1.73 million by John Davies and Greg Goldfinch of Colliers International. The property includes four carparks and development options.
Hobsonville greenfield industrial
A 6425sq m greenfield industrial development site at 102 Hobsonville Rd, Hobsonville, has been sold for $2,730,000 to a developer by Jimmy O’Brien and Mike Ryan of Colliers International.
Hamilton shopping centre
The 9600sq m Hamilton Central Shopping Centre on 1.3337ha of CBD land has been sold by NZX-listed Stride Property Ltd for $13,425,000 at a 10.35 per cent yield through Jim McKinlay of Bayleys, and Mike Neale of Harcourts NAI. The centre was purpose-built in 1994 for anchor tenant K Mart, which has a 24-year lease over 6522sq m until July 2018, plus rights of renewal for a further 12 years. Other specialty tenancies occupy 1547sq m. K Mart has indicated a reconfiguration and repositioning of its tenancy would be required for it to renew its lease.
Christchurch Addington building
A 4121sq m high-quality office and warehouse building on a 9938sq m site at 48-52 Hazeldean Rd, Addington, has sold for $9 million at an 8 per cent yield through Ash Hira and Stuart Bode of Bayleys Auckland and Stewart White of Bayleys Canterbury. The building has three tenants, two of which are Fletcher Building businesses on leases running until 2019 and 2022. The third is a training organisation.
Pakuranga Canon Place
An 1892sq m industrial building on a 3518 sq m Business 5-zoned site at 8 Canon Place, Pakuranga, has sold for $2.1 million with vacant possession by Katie Wu and John Bolton, Bayleys South Auckland. It comprises 1364sq m of warehousing, 206sq m of office and a 322sq m mezzanine.