RECENT DEALS for October 25th
Pakuranga Plaza Coundown
Pakuranga Plaza sale
Pakuranga Plaza shopping centre was sold by Bayleys on behalf of vendors Ross and Dallas Pendergrast of Ladstone Holdings for $96 million to Singapore-based Stanley Tan, CEO of Global Yellow Pages Ltd and Pang Yoke Min of Southeast Asian investment group GYP Properties.
A multi-use, split-risk investment property comprising a frontage 280 sq m building with four separate commercial tenancies and a 120 sq m building rented as a residential tenancy on an 1100 sq m site at 682 Whangaparaoa Rd was sold for $935,000 at an 8.1 per cent yield by Mustan Bagasra of Bayleys Orewa.
A 596 sq m warehouse with 252 sq m of office space on a 971 sq m freehold site earning $80,000 per annum at 31 Moa Street, Otahuhu was sold for $940,000 at an 8.51 per cent yield by Nik Vulinovich and Jeremy Barnett of CBRE. Barnett joined with colleague Ben Phibbs in selling for $810,000 another Otahuhu warehouse of 547 sq m with a 190 sq m office on a freehold 695 sq m site at 16 Marjorie Jayne Crescent.
A high profile 4703 sq m site with 1107 sq m of mixed and remodelled buildings and four short term tenants at 105 Old Taupo Rd on the main route through Rotorua’s industrial precinct was sold by Mark Slade and Mark Rendell of Bayleys Rotorua for $800,000 at a net passing yield of 8.3 per cent.
Frankton warehouse duo
A unit-titled office and warehouse at 5 Norton Rd, Frankton, Hamilton,with a total floor area of 400 sq m, was sold with vacant possession for $975,000 by Mark Anderson and Blair Hutcheson of Bayleys Hamilton. The property has 18 car parks and consent to add additional mezzanine offices. Anderson and Hutcheson also sold for $815,00 a second Frankton warehouse on a 1802 sq site at 141 Ellis Stwith high stud space,multiple roller door access, offices, reception, boardroom, storage areas, 10 car parks and a secure yard.