RECENT DEALS for January 31st
The retail block at 507-509 Blockhouse Bay Rd has a United Video store and Westpac bank among its tenants.
Blockhouse Bay building
A 619 sq m fully leased retail investment building generating net annual income of $164,917 on a high profile corner location at 507-509 Blockhouse Bay Rd has been sold for $3.13 millionby Adam White, Oscar Kuang and Euan Stratton of Colliers International.
Hibiscus Coast land sale
A 2.433 hectare landholding over one title at 1 Hibiscus Coast Highway, Whangaparaoa, has been sold to a private investor for $7.29 million by Tim Lichtenstein and Jimmy O’Brien of Colliers International.
Brown’s Bay service station
A Caltex Service Station site at 731 Beach Rd, Browns Bay, was sold for $3.8 million following its marketing by Shoneet Chand, Matt Prentice and Jason Seymour of Colliers International. The sale to a family trust represents a yield of 5.21 per cent and comes with a 20 year lease generating net annual income of $198 000.
High profile Glenfield corner
A high profile corner 1109 sq m warehouse, office and showroom property with 26 on site car parks at 179B Archers Rd, Glenfield, has been sold to owner occupiers for $2.2 million by Euan Stratton and Matt Prentice of Colliers International.
East Tamaki industrial units
Two industrial units with a new four year lease to a panel beating business and totalling 1041 sq m on separate titles on a 1906 sq m site at 21 Stonedon Drive, East Tamaki, have been sold by Mark Pittaway and Tony Chaudhary for $1.7 million at a 6.7 per cent yield after being passed in at a Bayleys auction for $1,570,000.
Lovrich buys in Mangere
A modern industrial property with warehousing and 17 storage units at 10 Andrew Baxter Drive, Mangere, has been sold by Ash Vincent and Hamish West of Colliers International. The property with a net lettable area of 998 sq m was sold to Lovrich Investments for $1.4 million representing a yield of 7.8 per cent.
Augustus sale in Parnell
A four level 309 sq m office building at 8 Augustus Terrace, Parnell, on a 190 sq melevated site with unobstructed views of Auckland City and the harbour, was sold under the hammer for $1,342,000 through by James Chan and Matt Lee at a Bayleys’ Total Property auction. Designed and originally occupied by award winning architect Ken Crosson, the building produces gross holding income of $59,000 from short-term leases on Levels 1 and 3 with the 94 sq m Level 2 being vacant.