RECENT DEALS for Saturday June 10
Bunnings Warehouse Grey Lynn, identified by a red border, sold for $37,770,000. Photo / Supplied
Bunnings yield record
Following an international tender process, Bunnings Warehouse Grey Lynn sold for $37,770,000, achieving a record low yield for the Australasian company of 4.9 per cent. Having opened in early May, the 8872sq m building, bounded by Great North Rd, King and Dean Sts - was sold on a 12-year lease-back to Bunnings through Bruce Whillans and Henry Thompson of Whillans Realty Group.
A 2300sq m freehold industrial warehouse at 3 Stonehill Drive, Wiri, has sold at auction for $7,025,00 net. The deal was brokered by Paul Higgins and Paul Jarvie of Colliers International, and represented a yield of 4.86 per cent.
Art Deco quarter
The 660sq m two-level Forsyth Barr House, on a 485sq m site at 42 Tennyson St in Napier’s Art Deco quarter, has sold for $1,525,000 at a 5.1per cent yield through Sam MacDonald, Bayleys Hawkes Bay. The building has been refurbished to a high seismic standard with offices, retail and a 174sq m vacancy.
A 951sq m freehold retail property at 11 Silverdale St, Silverdale, has sold at auction for $3,575,000 net. The deal was brokered by Alan Pracy and Shoneet Chand of Colliers International.
College Hill villas
Neighbouring villas in College Hill, Freemans Bay, respectively housing a recruitment company and a Thai spa, have sold after a Bayleys Total Property auction to separate investors for a total value of $3.2m through James Were and Scott Kirk, Bayleys Auckland.
A 13080sq m commercial investment/office at 6-14 Parkinson Place, Hamilton, has sold on the market for $10,750,000 net. The deal was brokered by Alan Pracy and Mark Brunton of Colliers International with a referral from Tim Lichtenstein.
A 288sq m industrial unit at 9 Airborne Rd, Albany, leased to Freedom Flooring, sold for $850,000 at a 5.2 per cent yield through James Kidd and Ashton Geissler, Bayleys North Shore Commercial.
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, and represented a yield of 4.7 per cent.
A 1419sq m corner site at 336 Great South Road, Papakura, consented for a childcare centre, with an existing brick and tile dwelling, was sold for $1,450,000 through Tony Chaudhary, Amy Weng and Janak Darji, Bayleys South Auckland.