RECENT DEALS for July 4

11:14 AM Monday July 4, 2016 True Commercial

Ponsonby’s historic former Post Office building has been sold for $5 million.

Century old post office sells

In a sale brokered by Whillans Realty Group, a private investor based in Auckland has purchased the historic Ponsonby Post Office from a family trust for $5 million.

Whillans Realty Group commercial broker Henry Thompson says the post office, at the intersection of St Marys Rd and College Hill, was built in 1912. “If a single building can be said to symbolise Ponsonby, it is probably this one,” says Thompson.

He points out that the building was fully restored and seismically upgraded in 2004.

And now the century-old masonry baroque-style building has an A-grade Initial Evaluation Procedure (IEP) seismic rating.

Standing on a 408sq m freehold corner site, the building has a total lettable area of 538sq m.

The first floor is fully leased to the Skin Institute and at the time of the sale the ground floor was vacant.

“Interestingly, the tower was originally part funded by donations from Ponsonby residents, who wanted a clock tower rather than the original dome and cupola that once stood above the entrance,” says Thompson. “Accordingly a trust deed recognises this and to this day the Auckland City Council remains responsible for the winding of the clock on weekly basis.”

East Tamaki warehouse

A modern office/warehouse facility on a 6208sq m site at 15 Echelon Place, East Tamaki, has been sold with vacant possession for $8.5 million by Andrew Hooper and Greg Goldfinch of Colliers International.

Albany building in Orbit

A standalone unit titled office building at 4 Orbit Drive, Albany, has sold for $3,645,000 at a 7.15 per cent yield through Matt Mimmack, Bayleys North Shore Commercial. Comprising 794sq m of office space and 168sq m of warehousing, plus 21 car parks, it is fully occupied by four tenants, which have recently renewed their leases.

Apollo office with storage

A 185sq m office plus 56sq m of storage at D2, 63 Apollo Drive, Albany, has been sold with vacant possession for $795,000 by Nick Recordon of Colliers International.

East Tamaki warehouse

A 2048sq m office/warehouse facility at 20a Arwen Place, East Tamaki, has been sold for $2,771,000 by Paul Higgins and Jolyon Thomson of Colliers International.

Tokoroa trio building sale

A multi-tenanted property in Tokoroa has sold for $1,440,000 at an 8.1 per cent yield. Marketed by Andrew Shaw and Brendon Bradley and on a 3036sq m site at 3-9 Campbell Street, it comprises three well-maintained buildings occupied by retailers Corys Electrical and Mico Plumbing and a local automotive business.

Waimauku Hip Group premises

A 2.5946ha General Rural zoned site at 791 State Highway 16, Waimauku, with 1298sq m of commercial and industrial buildings sold for $2,030,000 at 6.1 per cent yield through Scott Kirk and Damien Bullick, Bayleys Auckland. Hip Group has exercised the first of two two-year rights of renewal of its lease.

Queenstown industrial site

A 3000sq m brownfield industrial site at Lot 3 Shotover Park, Queenstown, has sold for $2,385,000 by Mark Simpson, Alastair Wood Rory O’Donnell and Mary-Jo Hudson of Colliers International.

Refurbished Mt Eden unit

A 515sq m character office unit at 45C Normanby Road, Mt Eden, has sold for $2.6 million at a 7 per cent yield, through Stuart Bode and Mike Adams, Bayleys Auckland. Refurbished with 19 car parks, the property has a new six-year lease.