RECENT DEALS for November 8th
Ascot Office Park
Ascot Office Park unit
Derek Wallwork, managing director of Omega Commercial, sold for $2,785,000 Unit GD of 628.99 sq m with 18 car parks within the Ascot Office Park, 93-95 Ascot Avenue, Greenlane, to a purchaser intending to open a clinic.
Outsource IT Tower sells
Bruce Whillans, managing director of Ray White Commercial, has sold the Outsource IT Tower (previously known as Newcall House) at 44 Khyber Pass Rd for $23 million. The sale, seen as a strategic redevelopment opportunity, included 4693 sq m of land, 9318 sq m of office and retail space, and 221 car parks.
Big Orewa land deal
A combined total of 22 ha of land in Maire Rd, Orewa, with resource consent for 146 lots and Peak Rd, Kaukapakapa, consented for 51 lots, has been sold for $21.7 million for residential development by Stephen Scott, Bayleys Auckland.
Mt Wellington warehouse
Stuart Bode of Ray White Commercial has sold a 6600 sq m warehouse and office building at 3 Monahan Rd, Mt Wellington, for $8,850,000. The property sold for a 6.78 per cent initial yield and earns $600,000 per annum from a 13 year term lease to Turners & Growers Fresh Limited.
Tauranga medical centre
A medical centre at 1 Te Paeroa Rd, Bethlehem, Tauranga, with six to 10 year leases to various medical operators has been sold for about $7 million by Colliers International brokers Brad Johnston and Simon Clark representing a yield of 7.5 per cent.
Foursome leased to Mill
Four separate properties in the location Hamilton, Kapiti, Stoke and Havelock North, all leased to The Mill Retail Holdings Ltd until 2018 with two rights of renewals of six years, have been sold for $3.87 million. The sales by Alan Pracy, Dean Anderson, Geoff Faulkner and Danny Blair of Colliers International represented yields of between 5.92 per cent in Hamilton and 8.3 per cent in Stoke.
Mangawhai Hub retail
A1381 sq m retail building on 4824 sq m of land with 42 car parks and multiple tenancies in The Hub commercial complex at 6 Molesworth Drive, Mangawhai, sold for $2.9 million through Duncan Napier of Bayleys Warkworth,
Hamilton office building
A well located 959 sq m city fringe site with a 561 sq m office building and off street parking for 12 cars at 108 Rostrevor Street, Whitiora, Hamilton, was sold for $855,000 at a 9.6 per cent yield by Mark Anderson of Bayleys Hamilton. The property is split into four self-contained tenancies, three with new leases.