RECENT DEALS for July 11th
This two-level building in Railway St, Newmarket, sold for $6.7 million.
Railway St building
An extensively refurbished 1239 sq m two level commercial building at 8-14 Railway St, Newmarket with six tenancies on two-to-four year leases has sold for $6.7 million at a six per cent yield through Scott Kirk and James Were of Bayleys Auckland. Located on a 1823 sq m Mixed Use zoned site with 45 car parks within the Newmarket 196 plan change, the building has ground floor retail showroom and office space and character office accommodation above.
Adjacent to rail station
A 1031 sq m Mixed Use zoned site at 11A Cheshire St, Parnell, adjacent to the proposed Parnell railway station has sold for $3.4 million at $3297 per sq m through Bayleys’ Mark Pittaway, Colin McKenna, Harry Cheng and Wei Wei Elder. The property has resource consent for a six-level 36 apartment complex, with site works and piling partially completed.
Council buys hotel site
The Waikanae Hotel & Bottle Store’s 6485 sq m site at 34 Main Rd Waikanae has been sold to Wellington Regional Council for $2.6 million by Dean Anderson & Richard Findlay of Colliers International.
Penrose Greenpark industrial
Asignificantly refurbished1100 sq m showroom, warehouse and office building on a 1939 sq m site zoned Business 4 at 17 Greenpark, Penrose, and featured in Bayleys’ Total Property portfolio has sold for $2.5 million at a 6.4 per cent yield through James Hill and James Valintine. The owner will stay on as tenant for 16 months from settlement. The building comprises 499 sq m of ground floor showroom and office, 422 sq m of warehousing and 228 sq m of upstairs office plus 25 car parks.