RECENT DEALS for September 5
Hamilton’s Centre Place South shopping at Ward St sold for $46.5 million
Shopping centre sale
Centre Place South shopping centre on a 12,280sq m site at Ward St, Hamilton, has been sold for $46.7m by Mark MacCauley, Hamish Doig and the Capital Markets team at Colliers International.
Brickworks sites sell
Nine rare commercial sites in the Brickworks development at Hobsonville Point have been purchased by investors for a total sales price of $8,788,000. Commercial specialist Isaac Tankard, of NAI Harcourts North Shore Commercial, says each of the nine properties are tenanted, with annual rents ranging from $32,713 to $59,707. The highest price reached was $2,510,000 for a property leased by a pharmacy and medical centre with yields ranging from 4.71 per cent to 5.21 per cent.
An 1988sq m site at 15 Nugent St, Grafton, with a 939sq m industrial building occupied by Autohaus NZ, on a 12-month lease, has sold for $6.7m at 2.42 per cent yield through Alan Haydock and Phil Haydock of Bayleys City & Fringe.
Red Shed at Gore
The Warehouse at 5-11 Irwell St, Gore, has been sold for $5,658,000 by Dean Collins and Gareth Fraser of Colliers International. The sale price represented a yield of 7.79 per cent.
Otahuhu industrial building
A 2607 sq m industrial building on a 4778 sq m site at 192 James Fletcher Drive, Otahuhu, with new six-year lease to an established tenant and two six-year rights of renewal, has sold for $4,361,500 at a 6.5 per cent yield through James Were and Scott Kirk, Bayleys Auckland.
Volkner Place, Albany
A 605sq m warehouse on a freehold 1542sq m site at 11 Volkner Pl, Albany, has been sold for $1,667,000 by Mike Ryan, Matt Prentice and Ryan de Zwart of Colliers International. The sale price represented a yield of 5.09 per cent.
A 959sq m freehold site (buildings not included) at 93 Selwyn St, Onehunga, has sold at Bayleys’ latest Total Property auction for $1.7m through Paul Dixon, Bayleys Auckland and Tony Chaudhary, Bayleys South Auckland. Leased to a childcare centre till February 2018, it is producing income of $12,000 per annum.
Warehouse and offices
Also selling for $1.7m at the auction was a 1469sq m two-level warehouse and office building on 1142sq m at 80 Delta Avenue, New Lynn. It is partially tenanted at $54,050 per annum, with the vendor occupying the balance. The sale was through Grant Miller, Laurie Bell and Mike Adams of Bayleys West Auckland division.