RECENT DEALS for Saturday July 29
Leased to Tile Depot, Unit M at 40 Cavendish Drive, Manukau, sold for $2,250,000. Photo / Supplied
Manukau Tile Depot unit
Meir Alfassi of Harveys, Te Atatu, West Auckland, has sold Unit M, 40 Cavendish Drive, Manukau, for $2,250,000 representing a 5.5 per cent yield. The longstanding tenant, Tile Depot, has a six-year-lease on the unit-titled property of about 632sq m.
Albany office and warehouse
A 288sq m office and warehouse unit at 9 Airborne Rd, Albany, occupied by Freedom Flooring Ltd, sold for $850,000 at a 5.18 per cent yield through James Kidd and Ashton Geissler, Bayleys North Shore Commercial.
Mt Maunganui industrials
A 1520sq m industrial, office and warehouse property on 2310sq m of commercially zoned land, at 33 Newton St, Mt Maunganui, sold at auction for $2.6m representing a yield of 5.8 per cent, in a deal brokered by Simon Clark, Rob Shoeser and Duncan Woodhouse of Colliers International. Shoeser and Clark also sold a 4396sq m industrial land/development site at 24 Aerodrome Rd, Mt Maunganui, by Deadline Private Treaty for $2.5m.
Auckland Union St building
A fully leased Auckland CBD character apartment building, with three ground floor commercial tenants, at 7-9 Union St, has sold off-market for $9.5m and a 7.2 per cent yield in a deal brokered by Henry Thompson of Whillans Realty Group.
A 313.50sq m commercial office and 42.1sq m warehouse at 59 Apollo Drive, Rosedale, has sold by private treaty for $1,425,000 in a deal brokered by Nick Recordon of Colliers International.
High St character
A 434sq m two-level character building on a 240sq m site at 41 High St, Auckland CBD, has sold semi-vacant for $5.9m through Cameron Melhuish and Mike Adams from Bayleys Auckland City & Fringe division. The ground floor was previously occupied by a fashion store; while upstairs a lease to a tanning clinic with a final expiry in March 2018 is producing net annual rent of $61,219.
The 760sq m On the Beach Backpackers accommodation complex, on a 2152 sq m site at 46 Buffalo Beach Rd, Whitianga, has sold as a freehold going concern for $2m through Josh Smith, Bayleys Waikato and Belinda Sammons, Bayleys Coromandel.
Petone retail store
A retail store occupied by Kathmandu for the past 15 years, at 2 Jackson St, Petone, has sold for $4.1m at a 5.92 per cent yield, through Richard Faisandier, Bayleys Wellington.
East Tamaki work/live
Two-level work/live premises totalling 145sq m, plus three carparks, at 7 Torrens Rd, East Tamaki, has sold vacant for $650,000 through Mike Marinkovich, Bayleys South Auckland. The unit comprises ground floor showroom/office and low stud warehousing with an apartment above.
Tauranga car sales
A 445sq m commercial investment property leased to a large multi-branded car sales franchise, at 44 Fourth Ave, Tauranga, has sold at auction for $750,000. The deal was brokered by Simon Clark, Duncan Woodhouse and Rob Schoeser of Colliers International, representing a yield of 5.6 per cent on market rental.