RECENT DEALS for Saturday, February 4
This industrial office and warehouse property at Tauriko, Tauranga sold for $14,524,000. Photo / Supplied
Tauriko Tauranga sale
A 2543sq m industrial office and warehouse premises spread across four titles and comprising a land area of 18,807sq m (1.8807ha) at 34, 42, 50 and 58 Taurikura Drive, Tauriko, Tauranga, has been sold to a syndicator by Duncan Woodhouse and Simon Clark of Colliers International for $14,524,000 - representing a yield of 5.49 per cent.
Hibiscus Coast retail units
A block of five new retail units (Unit 1, 4, 5, 6 &7) ranging in size from 98sq m to 361sq m at 651 Whangaparaoa Rd, Hibiscus Coast have been sold individually at auction byDeborah Dowling, Euan Stratton and Jessica Martin of Colliers International for a total price of $6,634,000 with yields for individual units ranging from 4.6 to 5.25 per cent.
Chinese buy in Panmure
A 1464sq m retail complex on a 2963sq m site in two titles at 141-157 Queens Rd, Panmure, has sold for $5.5 million at a 6.5 per cent yield to a buyer from China through Mark Pittaway, Bayleys Auckland and Harry Cheng, Bayleys Remuera. Four tenants, three in occupation for over 20 years, include ANZ Bank which has just renewed. The site is zoned Town Centre (27m height limit) and has 35 rear parking spaces.
Warkworth Grange sale
A 297sq m unit in the recently completed The Grange retail convenience centre on SH1 on the outskirts of Warkworth has sold for $1,365,000 at a 6.8 per cent yield. It was sold by Matt Lee, James Chan, Quinn Ngo and Paul Dixon, Bayleys Auckland with an eight-year lease and two four-year rights of renewal to Green Bay Fruit and Vegetables with annual rental increases to CPI.
Queenstown hotel site
A 5101sq m hotel development site on the corner of Glasgow and Thompson Streets, Queenstown, has been sold to a Singaporean hotel developer for $9.5 million by Mark Simpson & Barry Robertson of Colliers International.
Northcote office units
A 2494sq m site zoned Mixed Housing Urban at 218-224 Lake Rd, Northcote, with three residential dwellings converted to six office units totalling 896sq m and 32 parking spaces, sold for development for $4,450,000 through Tonia Robertson and Chris White of Bayleys North Shore Commercial. There is dual frontage to Ocean View Rd, with three remaining commercial tenancies generating holding income of $69,644 per annum net.
Great South Rd industrial
A 2500sq m industrial premise at 643 Great South Rd, Penrose, has been sold at auction by Ben Herlihy & Hamish West of Colliers International for $4,920,000 representing a yield of 4.65 per cent.
East Tamaki warehouse
A 4722sq m warehouse, plus 513sq m canopy, purpose built as a Coca-Cola Amatil (NZ) service centre in 2008 on a 7218sq m site at 26 Ross Reid Place, East Tamaki has sold for $10m at a 6.2 per cent yield through Laurie Burt, Michael Nees, Simon Aldridge and David Huang of Bayleys North Shore Commercial.
Lambie Drive building
A 360sq m office building at 17 Lambie Drive, Auckland has been sold for $1,360,000 by Matt Barnes, Jeremy Barnett and Peter Kermode of Colliers International.
New North Rd corner
A 1055sq m freehold corner site with Mixed Use zoning (and additional height overlay of 21m), at 140 New North Rd, Eden Terrace, with two adjoining converted warehouse buildings totalling 1815sq m, has sold for $4,010,000 at land value of $3,800 per sq m and a 4.1 per cent yield through Scott Kirk, James Were and Phil Haydock of Bayleys Auckland City & Fringe division.
New retail units
Two new retail units (75sq m & 85sq m) at A5 & B3, 301 Lincoln Rd, Henderson have been sold individually at auction for a total price of $1,963,000 by Shoneet Chand, Peter Kermode, Craig Smith & Melissa He of Colliers International. Yields for the individual units were 5 per cent and 5.3 per cent.
South British Building
A 30sq m retail unit on ground floor of the ex-South British Building at 3-13 Shortland St in Auckland's CBD sold for $1.4m and a 5 per cent yield to an offshore Chinese investor through James Chan and Matt Lee of Bayleys International. It is leased to Flight Centre for six years from May 2014.
Fraser Cove outlet
A modern 417sq m retail outlet on a 516sq m site in the Fraser Cove Shopping Centre, Tauranga, has sold for $1.7m at a 6.75 per cent yield through Brendon and Lynn Bradley, Bayleys Tauranga. It is leased to a franchisee of national retailer Toyworld for six years from October 2013, with fixed annual rental increases.