RECENT DEALS for August 9
The syndication of this building at 650 Great South Rd, Ellerslie, was over-subscribed.
Syndications raise $30.3m
Two syndications marketed by Brian Caldwell of Bayleys North Shore Commercial have recently raised a total of $30.3m in investors’ equity. A public syndication on behalf of Maat Group offering 386 share parcels of $50,000 share in the five-level Unisys office building at 650 Great South Rd, Ellerslie closed over-subscribed. Investors were offered an initial projected 9 per cent annual pre-tax return from the property which is leased by a variety of Crown tenants, Unisys and Fletcher Building. Caldwell also completed a private syndication raising equity of $11m with18 wholesale investors acquiring an Albany commercial property comprising two office buildings and a childcare centre by way of a limited partnership structure.
Wakefield St development site
Brice Clark of Whillans Realty Group has sold a 768sq m site at 57-59 Wakefield Street for $6.2m representing $8075 per sq m. The property has dual street frontage to Airedale St and Wakefield St with a 50 metre height limit and a maximum floor area ratio of 8:1. The property is occupied by a three-level commercial building but has been purchased for an apartment building development.
Tauranga office and warehouse
A 1000sq m office and warehouse facility on a freehold 1638 sqm site at 69 Poturi St in the Tauriko Business Park near Tauranga has been sold for $1,650,000 by Simon Clark and Rob Schoeser of Colliers International.
High Street retail unit
A 98sq m retail unit at 13 High St, Auckland Central, was sold vacant for $800,000 by John Stringer and Scott Whitten of Barfoot & Thompson Commercial.