RECENT DEALS for December 12th
This commercial property at 38 Lunn Ave, Mt Wellington sold for $4.2 million.
Mt Wellington sale and lease
A three-level 2145 sq m warehouse, office and showroom building with a 65 sq m balcony and basement car parking for 22 cars plus two rear standalone warehouse/office units of 395 sq m and 382 sq m each on a 1012 sq m site at 38 Lunn Ave, Mt Wellington, has sold with vacant possession for $4.2 million through James Hill of Bayleys Auckland; and Jamsheed Sidhwa and Luke Carran of Bayleys South Auckland. It purchased by a retail owner occupier from the Exhibit Group which is relocating to a 2057 sq m warehouse and office building with a 650 sq m yard and 30 car parks at 10 Rakino Way, Mt Wellington, on a six-year lease, with two three-year rights of renewal, negotiated by James Hill, Greg Hall and Sunil Bhana of Bayleys Auckland.
Big Christchurch corner sale
A 2.1 ha corner site on one of Christchurch’s busiest intersections at 455 Blenheim Rd, Sockburn, with 9335 sq m of fully leased, mainly retail and warehouse buildings has sold for $22,143,000 at 7.6 per cent yield through George Phillips of Bayleys Canterbury. Christchurch investor Hilton Smith purchased the property, featured in Bayleys’ Total Property portfolio, from philanthropists Grant and Marilyn Nelson with the net proceeds going to the beneficiaries of their charitable trust the Gama Foundation. The largest building on the site is a recently-expanded bulk retail store with a new eight year lease to Target Furniture.
Whenuapai development site
A flat 4.05 ha rural development site in the heart of new development land pegged to become a suburban township at 39 Brigham Creek Rd, Whenuapai has been sold for $7 million by Craig Smith, Sean Finnegan and Michael Bray of Colliers International.