RECENT DEALS for December 6th
37 Commercial Rd, Helensville - Countdown supermarket
A 2093 sq m retail and office building anchored by a Countdown supermarket on a 5623 sq m site at 37 Commercial Rd, Helensville, has sold for $5,350,000 at a 7.8 per cent yield through Bayleys Auckland retail specialist Ed Donald. Progressive Enterprises, which has occupied the bulk of the building since 2001, has undertaken a major refit of the supermarket and extended its lease by five years until December 2018 with further rights of renewal until 2036. A Harcourts office occupies 250 sq m of space. Donald says growth in Hellensville’s catchment population, with a further 1000 new homes scheduled for the area, has attracted new retailers to the town and reduced vacancies.
Hobson’s choice for Ruby
Adam White and Cam Ward of Colliers International have sold to Ruby City Limited a 1054 sq m retail strata unit title designated as 51F Hobson St in Auckland City for $2.1 million representing a yield of 13 per cent.
Pt Chevalier retail building
Cam Paterson and Dave Palmer of Barfoot and Thompson Commercial sold at auction a property at 1194 Great North Rd, Pt Chevalier, comprising two ground floor retail tenants including a Pita Pit, and a first floor 4 bedroom apartment, for $1,345,000 representing a yield of 5.48 per cent.
Greenlane Great South site
An 822 sq m site, zoned Residential 7A, at 242 Great South Road, Greenlane has sold for $2,207,000 or $2684 per sq m, through Scott Kirk and James Were of Bayleys Auckland and Summer Sun of Bayleys Sandringham. An 184 sq mbungalow leased to an osteopath for six months from September 2014, with no rights of renewal, is producing net annual rental income of $60,0000.
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.