RECENT DEALS for September 26th

5:00 AM Saturday September 26, 2015 Colin Taylor

This five storey Rotorua office building sold for $5 million

Rotorua site unseen sale

A five storey 3653 sq m office building on a 1711 sq m CBD site at 1144 Pukaki St, Rotorua, featured in Bayleys’ Total Property portfolio sold for $5 million at an 8.7 per cent yield through Brendon Bradley and Mark Rendell of Bayleys Bay of Plenty and Mark Hourigan, of Bayleys Wellington. Fully leased to seven predominantly government tenants it was bought ‘site unseen’ by an American who has purchased a number of high yielding regional properties through Bayleys.

Eden Terrace office building

A refurbished 571sq m two level office building at 75 France Street South, Eden Terrace, also featured in Total Property, sold for $1,848,000 at a 7 per cent yield through Cameron Melhuish and Andrew Wallace, Bayleys Auckland. German multinational Brentagg has exercised a final five-year right of renewal on its lease until May 2020.

Penrose industrial land

Also sold through Total Property was a 2704 sq m bare land industrial site at 24 Greenpark Drive, Penrose that was purchased with vacant possession for $1.5 million or $623 per sq m through James Valintine and James Hill of Bayleys Auckland.  

Waihi Beach holiday complex

A Coromandel offering in Total Property encompassing 7693 sq m of land at 127 Emerton Rd, Waihi Beach, has sold for $1.2 million through Brendon and Lynn Bradley of Bayleys Tauranga. A former motel property, it has been converted to a permanent residential and holiday home and caravan complex, with licence to occupy income streams.