RECENT DEALS for Saturday August 26
This modern workshop, warehouse and adjoining offices property at 47 Alwill Drive, Cambridge, sold for $3.6m.
Cambridge factory sells
A 1775sq m modern high-stud workshop and warehouse with two levels of adjoining offices on a 4410sq m site at 47 Alwill Drive, Cambridge, sold for $3.6m at a 6.3 per cent yield through Blair Hutcheson, Bayleys Waikato. Constructed in 2015 it is leased until 2021 to a well-established manufacturing tenant.
A prime road front unit title on Te Pai Place, Henderson, has sold by auction for $1,260,000 representing a passing yield of 5.59 per cent. The 650sq m property is split into three separate areas with the upstairs office and rear warehouse sub-leased by head tenant Autostop Automotive Supplies, which has occupied the property for some 20 years. The deal was brokered by Euan Stratton, Matt Prentice and Dhiru Patel of Colliers International.
Wairau Valley industrial
A 2773sq m industrial building on a 3811sq m site at 18 Poland Rd, Wairau Valley, has been sold for $4,950,000 at a 5.85 per cent yield by Matt Mimmack and Ranjan Unka, Bayleys North Shore Commercial. Comprising 1801sq m of warehousing and production facilities plus two levels of offices totalling 972sq m, it has an eight-year lease to Fresco Shades NZ Ltd with rights of renewal.
A 755sq m commercial investment/office/retail building with a floor area of 1400sq m at 29-31 Queen St West, Levin, has sold for $955,000. The deal was brokered by Doug Russell, Phil Nevill and Grant Lloyd of Colliers International.
Office and warehouse
An industrial office/warehouse with 1150sq m building and a 2250sq m yard at 120 Hutt Park Rd, Lower Hutt, has been leased for $290,000 net. The deal was brokered by Kieran Lennon of Colliers International.
Mt Roskill auction sales
Two adjoining sites of 825sq m each and 1000sq m of industrial buildings at 58 & 60 Dornwell Rd, Mt Roskill, sold at auction with vacant possession for $2.8m through Mike Adams, Genevieve Thompson-Ford and Cameron Melhuish of Bayleys Auckland.
Mt Wellington unit
At the same auction, a 170sq m industrial unit built in the 1990s with three car parks at 132D Marua Rd, Mt Wellington, sold vacant for $675,000, through Greg Hall and James Valintine, Bayleys Auckland. It has 103sq m of high stud, clearspan warehousing with the balance ground floor office and amenities with a mezzanine level above.
Hutt fitness centre
A 643sq m building on a 1000sq m site at 423 High St, Lower Hutt, was sold at auction by Andrew Smith, Bayleys Wellington for $2.1m at a 6.8 per cent yield. It is occupied by a Jetts 24-hour fitness centre and a tyre/auto tenant.