Recent deals for Saturday April 7

4:25 PM Friday April 6, 2018 True Commercial’s Recent Deals

This industrial building in Hornby, Christchurch, sold for $8.35m. Photo / Supplied

Hornby industrial

A 3500sq m industrial building constructed in 2015 on a 7482sq m site at 24 Gallagher Drive, Hornby, Christchurch sold for $8.35m at a 6.08 per cent yield through Nick O’Styke of Bayleys Canterbury. Tenant Seed Force Ltd has over seven years to run on its10-year lease.

Tauranga warehouse

A 751sq m industrial warehouse with an 18-month lease on a 2748sq m site at 43 Poturi St, Tauriko, Tauranga, has sold prior to deadline private treaty closure 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.

Mt Wellington building

A 2049sq m industrial building on a 3283sq m site at 26 Vestey Dr, Mt Wellington, sold for $5.55m at a 5.54 per cent yield through Sunil Bhana, Mike Houlker of Bayleys Auckland and Ranjan Unka of Bayleys North Shore Commercial. Multi-national Estee Lauder, has been in occupation since 2000, and renewed its lease for six years in December 2013.

Albany supermarket

A 450sq m retail outlet at 21 Corinthian Dr, Albany, at the main entrance to Orchard Park Retail Hub, sold for $4.3m at a 6.04 per cent yield through David Han, Eddie Zhong, Terry Kim and Ranjan Unka of Bayleys North Shore Commercial. It is leased to an Asian supermarket trading as Yummy Mart for eight years from August 2017.

Victoria Quarter

A 247sq m corner-positioned, ground floor retail unit with two tenants at 20 Centre St, Auckland CBD, sold for $1.5m at a 6.66 per cent yield through James Chan, Oscar Kuang and Ben Wallace, Bayleys Auckland. It is occupied by international homeware company Zimba Designs and a Turkish eatery, both on three-year leases.

Greenlane lease

Auckland Knight Frank agent Sophie Dixon, has brokered the lease of Part Level 1, Office 2, 253 Great South Road, Greenlane – which includes three car parks — for $47,020.00 net. 

Mount and Papamoa leases

Myles Addington of Knight Frank Tauranga has brokered the lease of Units 9 and 10, 4 Aerodrome Rd, Mt Maunganui, for $103,000 per annum net. The new 1050sq m high-spec warehouse and office with an excellent yard and car parking was leased for 10 years. Addington also brokered the lease of (area)Unit 2 & 3, 43 Enterprise Dr, Papamoa, for $30,000pa.  

Christchurch office

Christchurch Knight Frank agent Hamish Haddow, sold 32A Birmingham Dr, Middleton, for $900,000, with vacant possession. The 306sq m level office building with 10 onsite car parks.