RECENT DEALS for Thursday, January 26
This Wiri office and warehouse complex sold for $3,480,000.
Wiri property auctioned
A 2103sq m office and warehouse facility on a freehold 4150sqm site at 67 Druces Rd, Wiri, has been sold at auction for $3,480,000 by Dwayne Warby, Hamish West Brad Johnston and Paul Higgins of Colliers International. The sale price represented a yield of 5.25 per cent.
Te Puke Mitre 10 sold
A new Mitre 10 store in Te Puke was sold prior to completion for $4.5m at a 5.5 per cent yield through Jim McKinlay and Lloyd Davidson of Bayleys Tauranga. The 2020sq m bulk retail outlet on a 3800sq m site on the corner of Oxford and Queen Streets with a 12-year lease was purchased by a Te Puke based investor.
Airport office and warehouse
A 1683sq m office and warehouse facility on a freehold 2462sq m site at 25 Rennie Drive, Auckland Airport has been sold at auction by Brad Johnston and Paul Jarvie of Colliers International for $3.4m - representing a yield of 5.44 per cent.
Tauranga corner buildings
A 1427sq m site on the corner of Fraser St and Fifteenth Avenue, Tauranga, with three modern standalone office buildings totalling 538sq m, sold at auction for $1,930,000 at a 6.2 per cent yield through Brendon and Lynn Bradley and Blair Cashmore of Bayleys. It is leased by Classic Builders Ltd until mid-2019.
The Texas Chicken restaurant’s 260 sqm unit at Unit 14, 301 Lincoln Rd, Henderson, has been sold at auction by Shoneet Chand, Matt Prentice, Sean Finnegan and Melissa He of Colliers International. at auction for $3,236,000 – representing a yield of 5.1 per cent.
Howick retail building
A 590sq m retail building with six well established tenants on an 875sq m site at 8-14 Moore St, Howick, was sold through Tony Chaudhary, Janak Darji and Amy Weng of Bayleys, South Auckland. after a Bayleys’ Total Property Auckland auction for $2.3m — representing a 4.3 per cent yield.
Coffee and tea retailer
Also sold post the Auckland Total Property auction for $910,000 was a 105sq m retail unit at 12 Amera Place, East Tamaki. Marketed by Katie Wu and John Bolton of Bayleys South Auckland, it sold at a 5.45 per cent yield, with a new six-year lease to a coffee and tea retailer which has occupied it for 11 years.
Tauranga industrial site
A freehold 2.9ha brownfields industrial site across two titles at 80 Hotuhotu St and 120 Whakakake St, Tauranga, was sold for $3,090,555 by Simon Clark and Rob Schoeser of Colliers International.