RECENT DEALS for April 2
This retail unit title at 346 Ponsonby Rd sold for $1,250,000.
Ponsonby retail unit title
David Palmer and Jane Tang of Barfoot & Thompson Commercial have sold a vacant 114sq m retail unit title with one car park at 346 Ponsonby Rd. The property was sold on behalf of a family trust, to an owner-occupier via deadline treaty, for $1,250,000.
Rakon HQ sold
NZX listed Rakon’s headquarters complex at 1A & 1B Pacific Rise, Mt Wellington, has sold for $6,780,357 at a 7 per cent yield through Sunil Bhana, Mike Houlker and James Hill of Bayleys Auckland. Rakon has leased it since 2005 and last July exercised the first of two five-year rights of renewal. The buildings, comprising 1454sq m of office and 732sq m of warehousing are on a prime 4435sq m site containing 74 car parks on the corner with Sylvia Park Rd, close to the motorway and the Sylvia Park shopping centre.
Mount Commercial building
A 832 sq m fully leased commercial building on a 645sq m site at 9 Prince Ave, Mt Maunganui, with on-site parking for nine cars has sold for $2.8 million at a 5.85 per cent yield through Brendon and Lynn Bradley of Bayleys Tauranga. There are three retail tenants on ground floor on two to three-year leases, with an upstairs office lease to an accountancy firm dating back to 1984.
Stonedon Drive industrial
A 4012sq m Business 5 site at 39-41 Stonedon Drive, East Tamaki with a 772sq m industrial building comprising 644sq m of warehousing and 128sq m of office sold with vacant possession for $2.5 million through Katie Wu and John Bolton of Bayleys South Auckland.