RECENT DEALS for July 25th
This Albany building leased to Westpac sold for $15.15 million
Big bucks bank building
The 3424 sq m Westpac building on a 2907 sq m site at 51 Corinthian Drive, Albany, has been sold for $15.15 million by Jason Seymour, Andrew Reed and Shoneet Chand of Colliers International. The sale of the multi-level office building, 76 per cent leased to Westpac with net annual income of about $1.1 million, represents a yield of 7.26 per cent.
Avondale Bunnings centre
A 7981 sq m Bunnings Trade Centre on a 1.6 ha site at 494A Rosebank Rd, Avondale, has been sold for $7.58 million by Jason Seymour, John Green and Greg Goldfinch of Colliers International. The sale includes a new 10 year lease to Bunnings and represents a yield of 6.45 per cent.
Beach Rd site with potential
A 1211 sq m building on an 824 sq m potential development site at 79-83 Beach Rd in Auckland’s CBDhas sold for $5.6 million at a 3.9 per cent yield and a land value of $6124 per sq m through Phil Haydock and Alan Haydock of Bayleys Auckland. It is currently leased to Tourism Holdings until October this year with two three-year rights of renewal but with a 12-month demolition termination clause after the October 2018 right of renewal.
Mount and Tauranga sales
A1214 sq m commercial building on a 3060 sq m site at 36 Kereiti St, Mount Maunganui, leased to Spark Digital (formerly Gen-i) from April 2011 for seven years has sold for $2,450,000 at a 6.4 per cent yield through Brendon and Lynn Bradley, and Matthew Gibbard of Bayleys Tauranga. The Bradleys were also involved in the sale of a 351 sq m office building, refurbished in 2009, on a 536 sq m site at 78 Second Avenue, Tauranga, for $1,250,000 at a 7.03 per cent yield. It is leased to Cucumber Software for nine years from 2010.
Takanini industrial units
Three industrial units totalling 1603 sq m at 3 Heb Place, Takanini, with 1236 sq m of warehouse and 367 sq m of office space have sold for $2.2 million through Mike Marinkovich of Bayleys South Auckland. Unit 1 has a five year lease expiring in April 2020 producing $75,000 net per annum while Units 2 & 3 are vacant.
Viaduct Harbour level
Level 3 of 6 Viaduct Harbour Avenue, in Auckland’s CBD has been sold fully fitted and furnished to an owner occupier for $1.5 million by Stuart Bode of Bayleys Auckland. The leasehold premises with 367 sq m of premium office space and 38 sq m of decks comes with five basement car parks.
Sold in Airedale St CBD
A freehold, mixed use, two story building on a 230 sq m site at 38 Airedale St in Auckland city has been sold for $1.475 million by Adam White of Colliers International.