RECENT DEALS for Saturday, February 25
A seven-cinema complex occupied by Rialto Cinemas in Newmarket, sold for $4.5m. Photo / Supplied
Newmarket cinema complex
A 1985sq m seven-cinema complex on the top of the Rialto shopping centre at 153-185 Broadway, Newmarket, occupied by Rialto Cinemas, has sold for $4.5m at a 9.1 per cent yield through Alan Haydock, and Damien Bullick of Bayleys Auckland City & Fringe team. Rialto renewed its lease for five years in 2015.
East Tamaki trade units
Twelve trade units at the Twenty2 Central development, Polaris Pl, East Tamaki, have sold for close to $7m through Josh Franklin, director, industrial sales & leasing at Knight Frank.
A 1740sq m office and warehouse facility on a freehold 4153sq m property at 202-220 Main Rd, Kumeu, has been sold by Jonathan Lynch and Craig Smith of Colliers International for $2.2m - representing a land and buildings rate of $530 per sq m.
North Harbour Apollo
A 444sq m commercial unit at B1 63 Apollo Drive, Rosedale, North Harbour, has sold with vacant possession for $1,850,000 by Nick Recordon and Janet Marshall of Colliers International.
Mt Wellington industrial
A recently refurbished 1174sq m industrial building on a 2100sq m Light Industry zoned site at 6 Dryden Place, Mt Wellington, with a lease back to Connexwire until June 2027, has sold for $3,325,000 at 5.5 per cent yield through James Valintine and Sunil Bhana, Bayleys Auckland.
Napier central hotel
A 2692sq m, 47 room hotel in central Napier, on a new 10-year-lease to a Quest serviced apartment franchise, has been sold by Colliers International brokers Ian McLachlan and Jack Elliott. The 908sq m freehold site at 176 Dickens St was sold by negotiation for $7.1m.
Albany Interplex park
A 339sq m industrial unit in the Interplex business park at 10 Canaveral Drive, Albany, and leased for four years from September 2015, has been sold through Matt Mimmack and Alex Strever of Bayleys North Shore Commercial for $1,250,000 representing an 4.8 per cent yield.
Adelphi Motel Taupo
Adelphi Motel, a 10-unit complex plus 4-bedroom home totalling 620sq m on a 2023sq m corner site, with further development potential at 39-41 Kaimanawa St, Taupo, has sold as a freehold going concern for $1,690,000 through Carlene Reid of Bayleys Taupo.