RECENT DEALS for April 9
This industrial complex at 4 Titoki Place, Mount Manganui, sold for $6,318,000
Mt Maunganui industrial
A 6220sq m industrial complex on a 13,183sq m site at 4 Titoki Place, Bayfair, Mt Maunganui, has sold for $6,318,000 at a 6.7 per cent yield through Jim McKinlay and Lloyd Davidson, Bayleys Tauranga. It has been occupied since 1998 by Timpack, one of New Zealand’s largest wood based box, crate and pallet suppliers.
William Pickering Albany unit
A 212sq m mixed use (retail showroom/industrial) unit at 38B William Pickering Drive, Albany has been sold for $735,000 by Mike Ryan and Janet Marshall of Colliers International. The sale represented a yield of 5.44 per cent.
Investor nabs Khyber cafe
A 668sq m freehold, fully refurbished, two-storey office-warehouse with cafe at 164-174 Khyber Pass Rd, Grafton, in Auckland has been sold to a private investor for $4.8 million by Kris Ongley, Jono Lynch and Shoneet Chand of Colliers International. The sale price represented a yield of 5.4 per cent.
Devonport mixed use building
A 851sq m freehold, mixed use, three-level building at 30 Victoria Rd, Devonport, has been sold for $3.8 million to a private investor by Matt Prentice, Euan Stratton and Shoneet Chand of Colliers International. The sale price represented a yield of 4.7 per cent.
Mt Eden boarding house
A 1846sq m site at 59 View Rd, Mt Eden, with resource consent to subdivide into four residential sections and holding income from a boarding house, has sold for $4.4 million through Stuart Bode of Bayleys Auckland. The long-established boarding house, with 23 rooms including ensuite bathrooms and communal kitchens, is producing net annual rental income of about $220,000.
Oyster & Chop on Viaduct
A 350sq m leasehold unit with a 38sq m courtyard at 91-95 Customs St West, Viaduct Harbour, was sold for $2.4 million at 9.4 per cent yield, by Nigel McNeill of Bayleys Auckland. It is occupied by Oyster & Chop restaurant, with a lease until January 2017 with one six-year right of renewal.
Christchurch development site
JLL has sold a substantial Christchurch town house that is likely to rented out for holiday accommodation and situated on a development site at 2 Bangor St for $2,150,000. The 3736sq m property is beside the Avon River, bordered by parkland and three street frontages, creating a rare island. It was sold through a tender process by agent Chris Harding. The purchaser will look to develop the 450sq m house and outbuildings in the longer term. The property is zoned Central City Residential, Medium to High Density with a maximum building height of 11 metres.