RECENT DEALS for Saturday January 20

4:45 PM Friday January 19, 2018 True Commercial’s Recent Deals

This Auckland warehouse, workshop and office complex – identified by a red border – in Eden Terrace sold for $6.8 million. Photo / Supplied

$6.8 m Eden Terrace sale

A commercial property at 1A Porters Avenue, Eden Terrace, has been sold with vacant possession for $6.8 million by JLL agents Jarred Hill, Nick Cape and Alex Wefers. Purchased by an owner-occupier following an extensive expressions of interest campaign, the 2760sq m warehouse with workshop and office sits on a 3371sq m site with a high profile to New North Rd.

Wiri heavy industrial

A 2703sq m well-maintained industrial building on a 4933sq m site zoned Heavy Industry, at 59 Ash Rd, Wiri, has for sold for $4,920,000 at a 5.63 per cent yield through Dave Stanley and Nelson Raines of Bayleys South Auckland. The property has four mostly long-term occupants.

East Tamaki building

Raines, with colleague Jamsheed Sidhwa of Bayleys South Auckland, also sold a 765sq m industrial building with five large roller doors on a half-share of a 3000sq m site, at 20 Kerwyn Ave, East Tamaki, for $2,360,000 representing a 4.87 per cent yield. The property has a five-year lease from February 2017 to fence and gate supplier Edgesmith with annual rent increases linked to the Consumer Price Index plus two per cent.

Remuera Rd retail

A 143sq m single-level retail building on a 258sq m site at 616-618 Remuera Rd, has sold for $1,575,000 at a 4.83 per cent yield through Andrew Wallace, Cameron Melhuish and Genevieve Thompson-Ford of Bayleys Auckland. Two tenants, a long-established women’s clothing retailer and a Bottle O liquor store, are on four-year leases.

Parnell office units 

Office units at 2A and 2B Augustus Tce, Parnell, have been sold by JLL agent Ben Jamieson, for a combined total of $1,530,000 – a yield of 5.6 per cent.

Former landmark convent

A 296sq m two-level landmark building on a prominent 1012sq m fringe CBD site at 53 Wood St, Papakura, has sold with vacant possession for $1,025,000 through Rod Grieve, Peter Migounoff and Piyush Kumar of Bayleys South Auckland. Originally constructed as a convent in the 1950s, it has most recently been home to a legal practice for over 30 years.

Cambridge commercial

A 268sq m commercial building on a 309sq m site at 20 Lake St, Cambridge, has sold for $905,000 at a 5.3 per cent yield. Marketed by Blair Hutcheson of Bayleys Waikato, following extensive landlord refurbishment, it was leased to Resene Paints for three years from July 2016, with two three-year rights of renewal.