RECENT DEALS for September 26
This office and warehouse complex in Penrose sold for $5.5 million.
Penrose office and warehouse
A 2085sq m office and warehouse facility on a freehold 4042sq m site at 55 Hugo Johnston Drive, Penrose has been sold for $5.5m by Andrew Hooper, Hamish West, Greg Goldfinch, Paul Higgins and Josh Coburn of Colliers International.
CBD retail outlet
A 64sq m retail outlet in the Mid-City retail complex at 239 Queen St, in Auckland’s CBD, has sold for $3.4m at a 4.3 per cent yield through James Chan and Quinn Ngo of Bayleys’ international division. It is leased to the Mid-City Health store on a four-year term from October 2015, with no right of renewal.
A 7061sq m commercial property at 50-52 Vaughan Rd, Rotorua, has been sold for $1,720,000 by Mark Rendell, Doug Russell and Grant Lloyd of Colliers International. The price represented a yield of 7.5 per cent.
Refurbished industrial auctioned
A fully refurbished 394sq m standalone industrial building on an 809sq m site at 3 Greenpark Rd, Penrose, with a new six-year lease, sold at auction for $1,410,000 at a 6.02 per cent yield through James Hill and James Valintine of Bayleys Auckland.
Pukekohe light industry site
Also selling at a Bayleys Counties auction was a 3670sq m site at 9 Austen Pl, zoned Light Industry, which went for $900,000 or $245 per sq m. Close to the Pukekohe Mega Centre, the property was marketed by Shane Snijder and Peter Migounoff.
Frankton Queenstown property
A 1120sq m freehold property with seven residential units at 9 Southberg Ave, Frankton, in Queenstown has been sold for $1,780,000 by Rory O’Donnell, Mark Simpson and Alastair Wood of Colliers International.
Albany vacant unit
A new 648sq m industrial unit at 59 Corinthian Drive in Albany has sold vacant for $1,770,000 through James Yu, Bayleys North Shore Commercial. It comprises a 464sq m warehouse, with a 40sq m canopy and 144sq m of offices, plus 10 car parks.
Two Mangere industrials
Two industrial units of 463 sq m and 343 sq m, at 185 Montgomerie Rd, Mangere, have been sold for $1,425,000 by Knight Frank south Auckland industrial sales and leasing agents Josh Franklin, David Arlidge and Rick Kermode.
A 779sq m office/warehouse facility on a freehold 1012sq m site at 8 Grayson Ave, Manukau, has been sold for $1,510,000 by Ash Vincent, Jolyon Thomson and Gawan Bakshi of Colliers International.
North Shore commercial
A 1884sq m two-level commercial building with 49 parking spaces and a location in the Epicentre Retail Park at 75 Porana Rd, Wairau Valley, has sold for $4,917,300 through Tonia Robertson, Bayleys North Shore Commercial. Producing net annual rental income of $317,300, the unit tilted building has a large bulk retail outlet and warehousing on the ground floor, which the Appliance Shed occupies on a lease expiring in 2017.The first floor has two office tenancies with 168sq m occupied and 243sq m vacant.
Newmarket character office
A 157 sq m single-level building containing character office space on an under-developed 711sq m land holding, with 17 carparks at 7 Sarawia St, Newmarket, has sold vacant for $3.1m through Cameron Melhuish, Scott Kirk, James Were, of Bayleys Auckland City & Fringe division. Its Terrace Housing and Apartment Buildings zoning under the unitary plan allows buildings up to six storeys (20.5 metres).
Site sale at Kopu
A 1.44ha industrial site at 71 Kopu Rd, near Thames and adjacent to SH 25 — with 2071sq m of workshops and warehouse facilities — was sold vacant for $1,825,000 by Josh Smith, Bayleys Hamilton. Previously used as a trucking yard, it was purchased by another owner-occupier.
Petone industrial trio
A 1.976 ha site, with frontage to Burnham St and Bouverie Street, Petone, with three industrial buildings totalling 8,030 sq m, has sold for $13,750,000 through James Higgie and Mark Hourigan, Bayleys Wellington.
Long-standing tenancies, which include two Fletcher Building subsidiaries, are currently earning total annual net rental income of $1,086,002 with final lease expiries 2019-2020.
Tauranga commercial building
A newly renovated commercial building on a freehold 883sq m site with 10 car parks at 14 Marsh St, Tauranga, has been sold by Simon Clark and Duncan Woodhouse of Colliers International for $1,880,000 representing a yield of 5.1 per cent. The property is leased to Ricoh on a new six year term
Papamoa vacant unit
A 520sq m commercial unit at 3/22 Gravatt St, Papamoa, has been sold with vacant possession for $1,450,000 by Duncan Woodhouse of Colliers International.
Botany retail premises
A 386sq m retail premises at Unit T, 451 Ti Rakau Drive, The Hub, Botany Downs, has been sold for $2,180,000 by Matthew Barnes & Jeremy Barnett from Colliers International. The sale price represented a yield of 6.5 per cent.
Auctioned in East Tamaki
A 605sq m building on a half share of 2000sq m cross-leased site at 4B Averton Place, East Tamaki, has been sold at auction for $1,121,000 by Jolyon Thomson & Todd Kuzmich of Colliers International. The property was sold vacant possession to an owner-occupier.