Recent Deals for Saturday April 16

5:48 PM Monday April 16, 2018 True Commercial’s Recent Deals

This bulk retail property at 28 Catherine St, Henderson sold for $7.58 million. Photo / Supplied

Henderson bulk retail

A modern 242sq m bulk retail property constructed in 1991 on a 4497sq m site with a Metropolitan Centre zoning at 28 Catherine St, Henderson, sold for $7.58m at a 6.6 per cent yield through James Valintine, Sunil Bhana and Mike Houlker, Bayleys Auckland. The Appliance Shed and Warehouse Stationery have been in occupation since 2007 and both have recently renewed.

Tauranga warehouse

A 751sq m industrial warehouse with an 18 month lease on a 2748sq m site at 43 Poturi St, Tauriko, Tauranga, sold prior to deadline private treaty to an investor for $2,475,000, representing a yield of 5.5 per cent in deal was brokered by Simon Clark and Rob Schoeser of Colliers International, Tauranga. 

Manukau offices

A refurbished 1500sq m two-level office building on 2006sq m of land at 5 Ryan Place, Manukau, with 24 secure carparks sold for $2.6m through Damien Bullick and Alan Haydock of Bayleys Auckland at a 7.59 per cent yield. A new three-year lease has fixed 2.5 per cent annual rent increases.

Albany commercial unit

A 444sq m unit with 10 carparks at 49 Arrenway Dr, Albany sold with vacant possession for $1.55m through Laurie Burt and Ildy Mexiner, Bayleys North Shore Commercial. It comprises 224sq m of offices with 220sq m of warehousing.

Vietnamese restaurant

A 263sq m single-level commercial building on a high-profile under-developed 932sq m Town Centre zoned site with 16 car parks at 79 Atkinson Ave, Otahuhu, sold for $1.5m at a 3.01 per cent yield through Tony Chaudhary, Janak Darji and Amy Weng of Bayleys South Auckland. Originally constructed in the 1970s as an office building, it is occupied by a Vietnamese restaurant on a four-year lease until October 2018. 

Wellington carpark building

A standalone carpark building with 100 per cent of NBS seismic rating, on a prime 551sq m CBD site at 31-35 Boulcott St, Wellington, sold for $3.61m through James Higgie and Mark Hourigan of Bayleys Wellington. With an estimated potential net income of $240,000 per annum, the property comprises 95 car parks of which 57 are leased to Fairfax NZ with the balance vacant.