RECENT DEALS for Saturday, March 25
Auckland's 19th century Edinburgh Castle Hotel on Symonds St sold for $3.9m. Photo / Supplied
Edinburgh Castle sold
The 150-year-old recently refurbished Edinburgh Castle Hotel, one of Auckland's few remaining 19th century hotels, located on a 571sq m site on the corner of Symonds St and Newton Rd has sold for $3.9m, through Alan Haydock and Damien Bullick of Bayleys Auckland City & Fringe division. The two-storey building has a new 10-year lease to a hospitality and residential accommodation business and sold at a 5.9 per cent yield.
Hutt office and warehouse
A 2411sq m office and warehouse building on a freehold 4049sq m property at 71 Port Rd, Lower Hutt, has been sold for $2,830,000 by Tim Julian and Kieran Lennon of Colliers International.
Port Waikato Holiday Park
The Port Waikato Holiday Park has sold as freehold going concern for $2.5m to an iwi trust through Meredith Graham and Mike Peterson of Bayleys Auckland and Josh Smith of Bayleys Waikato. Extensive buildings and facilities on the 5.9375ha property include self-contained units, cabins, communal kitchen, lounge and bathroom facilities, 85 powered sites, 63 tent sites and a three-bedroom residential home.
Westgate retail units
Three 73.5sq m units in new retail development at 575 Don Buck Rd in Westgate, Auckland, have been sold individually at auction for a combined total price of $2,290,000 - representing yields of 5.25 to 5.26 per cent. The properties - on long-term leases to Sal's Pizza, a bakery and a barbershop - were marketed by Shoneet Chand, Euan Stratton and Deborah Dowling of Colliers International.
Kerikeri building auctioned
A 590sq m industrial building on a 6340sq m site at 185 Waipapa Rd, Kerikeri, sold at a Bayleys Total Property auction through Alan Broadbent of Bayleys Northland for $785,000 and a 6.75 per cent yield. The property has three short term leases all expiring in May 2017.
Tauranga industrial property
A multi-tenanted 1747sq m industrial property at 76 Koromiko St, Tauranga, marketed by Simon Clark and Rich Davidson of Colliers International, sold at auction for $2,160,000, representing a yield of 5.8 per cent.