RECENT DEALS for May 2nd
The live and work unit at 50 Stonedon Drive, East Tamaki.
Live and work in Stonedon
Nine 211 sq m live and work units in a recently completed building at 50 Stonedon Drive, East Tamaki have been sold by Mike Marinkovich of Bayleys South Auckland to separate purchasers at a total value of $5,147,500. Each unit has a 103 sq m warehouse, 108 sq m apartment and three car parks. Eight of the units sold vacant to a mix of investors and owner occupiers for $565,000 to $580,000 while another unit with a short term lease term sold for $580,000 at a 7.2 per cent yield. The last unit available for sale is also a tenanted investment opportunity leased at $41,600 per annum which Marinkovich says had a number of internal alterations and improvements undertaken and is well positioned for the views.
But wait … there’s more
Marinkovich was also involved in the sale of a neighbouring 310 sq m vacant industrial unit at 52 Stonedon Drive in conjunction with Bayleys South Auckland colleagues John Bolton and Anthony Barnao for $652,000. It comprises a 206 sq m warehouse, 48 sq m office, 56 sq m mezzanine plus eight car parks.
Mt Wellington warehouse/office
A quality constructed 4179 sqm office and warehouse at 20 Vestey Drive, Mt Wellington, has been sold for $8.75 million by Andrew Hooper and Hamish West of Colliers International. The freehold 6,898 sqm property leased to Forman Building Systems generates net annual rental income of $535,000.
Under the hammer in Tauranga
An office warehouse complex leased to a national tenant for six years 18 Marsh St, Tauranga, was sold at auction by Simon Clark and Duncan Woodhouse of Colliers International for $1.3 million representing a yield of 6.4 per cent.
Refurbished Onehunga building
Recently refurbished office and warehouse on 22 Patrick Street, Onehunga, has been sold for $1.95 million by Adam White and Hamish West of Colliers International. The 1971 sqm property, previously owned by a Trust, is occupied by Webbing & Tapes REM Ltd.