RECENT DEALS for Saturday September 16
This land – indicated by a red border – at 197 Botany Rd, adjacent Pakuranga Golf Course, has been purchased for $21m by Metlifecare as the site of a new retirement village. Photo / Supplied
Metlifecare’s Botany buy
A 2.38ha land holding at 197 Botany Rd, formerly part of the Pakuranga golf course, has been sold for $21m at $882 per sq m to NZX listed Metlifcare Ltd by Dave Stanley of Bayleys South Auckland. A $140m retirement village is planned for the site, comprising around 160 independent living units and serviced apartments plus care facilities.
In a deal brokered by Mark Simpson and Rory O'Donnell of Colliers International, an 1827sq m freehold trade warehouse and showroom, leased to Ideal Electric at 5 Liddell St, Invercargill, has been sold by deadline private tender for $1,001,500 representing a yield of 7 per cent.
Glidepath Avondale lease
A 4878sq m industrial property at 17-19 Patiki Rd, Avondale, has been leased to Glidepath Limited for net annual rent of $620,000, by Dwayne Warby and Shoneet Chand of Colliers International.
A 6223sq m industrial warehouse at 395 Church St, Penrose, has been leased for a term of five years and three months through Andrew Hooper and Greg Goldfinch of Colliers International to Easy2C Ltd paying annual rent of $600,726 net.
Kaitaia BP station
A 1788sq m corner site at 176 Commerce St, Kaitaia, occupied by a BP Service Station plus a workshop, has sold for $1,284,100 at a 7 per cent yield through Bayleys agents Alan Haydock, Damien Bullick, and Tony Chaudhary. It has a 20-year lease to October 31, 2033, with two-yearly reviews.
Knight Frank deals
Craig Edwards of Knight Frank Christchurch has sold a new 470sq m warehouse with 180sqm office/showroom at 22 Sonter Rd, Wigram for $1,450,000 — representing a yield of 5.4 per cent. In Auckland, his colleague Josh Franklin leased a 250sq m warehouse unit at 14B Vernon St, Papakura, for $34,000 per annum.
Airport Oaks industrial
A 2873sq m industrial building on a 4854sq m site at 38 Richard Pearse Drive, Airport Oaks, has sold for $4,845,000 at a 7.26 per cent yield through Jamsheed Sidhwa, Luke Carran and Nelson Raines of Bayleys South Auckland. It has three tenancies with a remaining Weighted Average Lease Term of 3.71 years.
Albany retail unit
A 278sq m standalone retail unit in an elevated corner position at 52 Oteha Valley Rd, Albany, has sold vacant for $2.1m through Adam Curtis, Adam Watton and Eddie Zhong of Bayleys North Shore Commercial. It is part of a 13-unit retail complex completed in 2001.