RECENT DEALS for April 26
The industrial and office property sold at 11 Vega Place, Rosedale.
Rosedale Vega industrial
A 1205sq m industrial building, with 66 per cent warehouse space along with office, reception, showroom and laboratory areas, on a freehold 2255sq m site at 11 Vega Place, Rosedale was sold to a private investor for $2,670,000. The stand-alone property with 17 car parks earns $180,000 per annum in rent, is leased until June 2017, and was sold through Derek Wallwork of Omega Commercial Ltd.
Lambie Drive 2-level building
A fully-leased 5255sq m two-level building with a mix of office and warehouse accommodation located on an underdeveloped 7218 sq m Business 5 zoned site with 92 car parks at 12 Lambie Drive, Manukau, has sold for $7 million at an 8.4 per cent yield through Alan Haydock, Bayleys Auckland.
Tauranga childcare centre
In a Bayleys Total Property auction in Tauranga, a 302sq m childcare centre comprising two converted residential dwellings at 251B Waihi Rd, Tauranga has sold for $960,000 at a 6.1 per cent yield through Graeme Coleman of Bayleys Tauranga. Best Start Educare Ltd (formerly Kidicorp) has exercised the first of two five-year rights of renewal on its lease of the property.
Hill Laboratories site
At a Bayleys’ auction in Hamilton, a 510sq m laboratory building constructed in 2010 on a 1500sq m corner industrial site with 14 onsite cark parks at 1 Clow Place in the suburb of Melville, sold for $1,830,000 at a 6.55 per cent yield through Mike Swanson of Bayleys Waikato. It is occupied by Hill Laboratories which exercised a four-year right of renewal in April 2014 with one further four-year right of renewal.
Mount warehouse and office
A 3080sq m warehouse and office facility over two titles at 66-68 Portside Drive, Mt Maunganui, has been sold by Rob Schoeser, Jimmy O’Brien and Simon Clarke of Colliers International for $4 million representing a yield of 6.7 per cent.
Fletcher Steel Hamilton
An 8300sq m site housing Fletcher Steel occupying a 3830sq m building area and with dual street access at 220 Ellis St Hamilton, has been sold for $3,550,000 by Mark Brunton and Alan Pracy of Colliers International.