Around the Block
935 Dominion Rd
Barnes back at CBRE
CBRE has welcomed back Matthew Barnes as senior negotiator to its industrial and logistics services agency team, based in CBRE’s South Auckland office. Barnes comes from commercial banking at Westpac where he oversaw many key accounts in the property sector. He previously worked at CBRE in the office services team and will now focus on industrial sales and leasing in the Penrose and Onehunga area.
Dominion is Adam’s apple
A 4759 sq m corner property at 935 Dominion Rd, encompassing an entire block in Mt Roskill with three road frontages and three tenancies, has sold for $7 million at a yield of 5.7 per cent through Mike Adams, James Appleby and Will Coates of Bayleys West Auckland team. The tenancies encompass a Burger King restaurant with a lease until 2022 and United Video and Manhatten Lodge which occupy another older building. This is the third sale Adams has been involved in Dominion Rd, Mt Roskill this year with a total value of $16.22 million.
Footsteps in Tauranga
A 600 sq m four year old office building located on a 1559 sq m site in a business park opposite Tauranga Hospital was sold for $2 million at a 6.86 per cent yield at a Bayleys Total Property auction in Tauranga. Marketed by Lloyd Davidson & Mathew Gibbard, the premises at 150 Seventeenth Avenue is used as a support office for national childcare education provider Footsteps Education Ltd which has a new eight year lease from October 2014.
Warkworth storage facility
A purpose-built 527 sq m storage facility, developed in 2008 on a 1769 sq m site in Woodcocks Industrial Estate at 6 Morrison Drive, Warkworth has sold for $1,905,000 through Duncan Napier and Steve Orr of Bayleys Warkworth at a Bayleys Auckland Total Property auction. Comprising 57units from 13.5 sq m to 126 sq m the complex has been running at close to 100 per cent occupancy.
Balmoral post auction sale
A 944 sq m two level building on a 470 sq msite at 660 Dominion Rd, Balmoral has sold post Bayleys’ Total Property auction for $1,750,000 through Millie Liang. About 313 sq m on the ground floor, formerly occupied by a supermarket, is vacant with the balance of the building containing an upstairs restaurant and a takeaway downstairs.
Grey Lynn retail property
A retail property at 568 Great North Rd, Grey Lynn, has been sold in its first time on the market in 50 years by Deborah Dowling and Charlie Oscroft of Colliers International. The 286 sq m property, with two retail tenants, sold for $1.475 million representing a yield of 4.6 per cent.