RECENT DEALS for Saturday July 8
This Auckland CBD property at 16 Waterloo Quadrant, with its location indicated by a white boundary, sold for $11 million. Photo / Supplied
A 1779sq m freehold site at 16 Waterloo Quadrant, in the Auckland CBD, with a heritage building and a site height limit of 50m, has sold on the market for $11m in a deal was brokered by Brice Clark of Whillans Realty Group.
A 2594sq m commercial investment/retail site at 8 Croftfield Lane, Wairau Valley, has sold at auction for $5.6m. The deal was brokered by Ryan de Zwart, Matt Prentice and Shoneet Chand of Colliers International and represented a yield of 3.12 per cent.
A 2.07ha land/development site at 5 Mill Road, Helensville, has sold on the market for $2,350,000. The deal was brokered by Ryan de Zwart, Craig Smith and Matt Prentice of Colliers International.
Palmerston North warehouse
A recently refurbished 2440sq m warehouse and commercial building on a high profile 7454sq m corner site at 201-203 John F Kennedy Drive, Palmerston North, has sold at a Bayleys Total Property auction for $3,855,000 and a 6.4 per cent auction yield through Dave and Kate Looney, Bayleys Manawatu. Anchor tenant NZX listed Turners Auto has been in occupation for 19 years and renewed its lease in July last year for nine years.
Te Awamutu sales
A longstanding 132-unit storage complex leased to over 100 tenants on a 4732sq m industrial site at 61 Bruce Berquist Drive, Te Awamutu, sold for $2,520,000, representing a 7.62 per cent yield at a Bayleys Hamilton auction through Andrew Shaw. At the same auction, Shaw also sold 661sq m of modern buildings with three long-term tenants on a 1990sq m industrial site at 31 McKee St, Te Rapa, in Hamilton for $1,510,000 at a 6.02 per cent yield.
A 298sq m freehold commercial retail property at 42-44 Hurstmere Rd, Takapuna, has sold at auction for $3,125,000. The deal was brokered by Euan Stratton, Matt Prentice and Ellie Martin of Colliers International, representing a yield of 4.7 per cent.
Rotorua split tenancy
A 502sq m building split into two tenancies on a 3039sq m commercial site with 20 carparks at 20 Malfroy Rd, Westbrook, Rotorua, sold for $650,000 and a 9.23 per cent yield at a Bayleys Rotorua Total Property auction through Mark Slade and Brei Gudsell. It is occupied by an education facility and dance studio on two and three-year leases.
A multi-tenanted 273sq m commercial office/retail site at 101-109 Russell St, North Hastings, has sold by negotiation for $940,000. The deal was brokered by Danny Blair and Ian McLachlan of Colliers International, and represented a yield of 11.19 per cent. Blair also sold a vacant retail site at 630 Heretaunga St West, Hastings, by negotiation for $975,000.