Recent deals for Wednesday November 22

4:55 PM Tuesday November 21, 2017 True Commercial’s Recent Deals

This large New Plymouth office complex, leased to Shell Todd Oil Services, sold for $9.1 million. Photo / Supplied

Taranaki Shell office

A 5096 sq m office complex comprising an eight-level tower and another three-level building on a 3069 sq m comer site at 167 Devon St, New Plymouth sold for $9.1m at a 9.97 per cent yield through Tony Chaudhary of Bayleys South Auckland, David Bayley of Bayleys Auckland, Alan Johnston of Bayleys Taranaki and Brendon Bradley of Bayleys Tauranga. Shell Todd Oil Services has been in occupation for over 30 years with its current 10-year lease running until July 2023. 

West Plaza sold again

The West Plaza Building, cnr Albert St and Fanshawe St, has sold for $45m, equivalent to $5307 per sq m, in a sale brokered by Bruce Whillans of Whillans Realty Group. This was the third sale of the property by Bruce Whillans. Designed by New Zealand architect, Neville Price in 1972, the building has an 8478sq m lettable area on 18 levels.

Bakers Harvest unit

An industrial unit at 75G Ellis Rd, Wairau Valley, has been sold for $1.7m by JLL agent Jaye Miller. It earns $86,400pa net rent and the tenant, Bakers Harvest, has been on site for 16 years. 

Rosebank industrial

An early 2000 industrial unit of 875sq m at 489 Rosebank Rd, Avondale, has been sold for $2.7m by Meir Alfassi of Harveys Commercial.

Rolleston Christchurch property

A 261sq m property at 7 Tennyson St, Rolleston, signed to a new 10-year lease to Restaurant Brands, has sold for $3,215,000 in a deal brokered by Courtney Doig and Charlie Oscroft of Colliers International. 

Dunedin office sold

A 1300sq m commercial office at 248 Cumberland St, Dunedin, on Levels 1 and 2, has sold for $2,825,000 representing a yield of 7.6 per cent in a deal was brokered by Dean Collins of Colliers International.

Merivale ‘as is’ motel

A 1517sq m commercial investment property comprising 12 motel units and a manager's unit at 49 Papanui Rd, Merivale, Christchurch, has been sold “as is” for $1.7m by Will Franks and Mark Macauley of Colliers International.

Wellesley St fully leased

A 1056sq m retail and office building at 119 Wellesley St, Auckland, fully leased to six tenants, has sold for $5.65m at a 5.32 per cent yield through Cameron Melhuish, Brendon Graves and Ben Wallace of Bayleys Auckland.

Sold to occupier

A 377sq m two-level office owned by a private investor at 9C William Pickering Dr, Albany, has been sold to occupier Zen Connections Ltd for $1,395,000 in a sale brokered by Janet Marshall and Kerry Cook of Colliers International.

New Lynn building

A 360 sq m fully leased building on a 607sq m corner site zoned Light Industry at 1 Crum Ave, New Lynn, has sold for $1,305,000 and a 3.5 per cent yield through Mike Adams and Simon Davies, Bayleys Auckland. The property houses a lunch bar and an automotive repair workshop. 

Trendy Oak Room premises

A 268sq m trendy retail premises at Unit 74, Drake St, Auckland Central, tenanted to The Oak Room restaurant has sold for $1.3m representing a yield of 7.8 per cent, in a deal was brokered by Adam White, Simon Felton, Gareth Fraser and Tony Allsop of Colliers International.

Mt Eden Rd villa

A 130sq m villa converted for commercial use at 54 Mt Eden Rd, has been sold vacant for $1.4m through Phil and Alan Haydock and Cameron Melhuish, Bayleys Auckland.

Grey Lynn ex-warehouse

A 245sq m high-stud converted warehouse with a half share of a 315sq m cross-lease section at 10 Monmouth St, Grey Lynn, was sold at auction for $1.45m through James Were and Scott Kirk of Bayleys Auckland.