Recent Deals for Saturday January 27

3:08 PM Friday January 26, 2018 True Commercial’s Recent Deals

This retail and office building at 128 Broadway, Newmarket, sold for $8.3m. Photo / Supplied

Big Broadway sale

A 1436sq m building at 128 Broadway, Newmarket, with five levels of office space and three ground floor retail tenancies was sold for $8.3m by Owen Ding, James Chan and Andre Siegert of Bayleys Auckland; and Tonia Robertson of Bayleys North Shore Commercial.

Tauranga office

An 851sq m freehold commercial office investment at 115 Cameron Rd, Tauranga, has sold for $3.1m a yield of 5.1 per cent, in a deal brokered by Simon Clark and Duncan Woodhouse of Colliers International.

Herne Bay property

A property in Herne Bay has been sold by JLL agent Alex Wefers. With a 832sq m floor area on a 491sq m site, 204-208 Jervois Rd is home to hospitality and office tenants. Earning $318,000 net pa, the property sold for $6.3m, a yield of 5 per cent.

Napier trade deals

A 6886sq m freehold warehouse/showroom and a 3982sq m partly leased industrial site at 78 Taradale Rd, Napier, and Lot 1, 32 Severn St, Napier, have sold as trade deals for $3m and $686,000 respectively in deals brokered by Danny Blair of Colliers International.

Paihia retail investment

A 1139sq m retail investment property at 68 Marsden Rd and 9 Williams Rd, Paihia, with a net income of $701,000pa has sold by deadline private treaty through Colliers International’s Capital Markets and Site Sales teams. The property is a split-risk investment with 14 tenancies across two titles.

East Tamaki unit

An 819sq m industrial unit at 6C Lorien Place, East Tamaki, with exclusive use of a 900sq m concrete yard area, has sold for $2,215,000 through Mike Marinkovich of Bayleys South Auckland and James Hill, Bayleys Auckland. It has 760sq m of high-stud warehousing and 59sq m of office with holding income of $85,000pa.

Office/warehouse auctioned

A 930sq m industrial office/warehouse at 103A&B Harris Rd, East Tamaki, was sold by auction for $2,340,000 representing a yield of 5.72 per cent in a deal brokered by Jolyon Thompson and Jeremy Barnett of Colliers International

Cambridge commercial building

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