RECENT DEALS for February 21st
16-22, Omega Street, Albany.
$8.5 m Albany industrial
A 3231 sq m industrial building on a 5856 sq m site in two titles with 92 car parks at 16 –22 Omega St, Albany, has sold for $8.5 million at a 6.5 per cent yield to a private syndicate of investors through Matt Mimmack, Daryl Devereux and Brian Caldwell of Bayleys North Shore Commercial. The building, comprising 8.6 m to 10 m high, clearspan warehousing, air conditioned office and showroom space, has a new five year two month lease to Pacific Brands Workwear, recently acquired by giant Australian multinational Wesfarmers.
Tauranga’s Cherrywood sold
Cherrywood Shopping Centre with 17 retail and office tenants on Cherrywood Drive, Tauranga, has been sold by Duncan Woodhouse of Colliers International for $3,570,000 million at a yield of 7.1 per cent.
North Harbour’s Bar Africa
A 4320 sq m corner site, housing Bar Africa, at 1B William Pickering Drive, North Harbour, and generating net annual income of $154,000, has been sold for $2.43 million by Matt Prentice, Peter Herdson and Shoneet Chand from Colliers International.
East Tamaki warehouse
A 7524 sq m 1950s office and warehouse property with five gantry cranes at 17 Lorien Place, East Tamaki has been sold by Jolyon Thomson, Paul Higgins and Greg Goldfinch of Colliers International for $2.3 million representing a yield of 6.1 per cent.
Mount office block
A fully leased, six tenant office block near Mount Maunganui’s Bayfair Mall at 43 Girven Road has been sold by Simon Clark and Rob Schoeser of Colliers International for $1,567,500 representing a 7.96 per cent yield.