RECENT DEALS for May 4
A unit in this Albany office, warehouse and showroom complex sold for $2,170,000.
Albany business park unit
A 745sq m unit in a six-unit development in the Interplex Business Park at 19A Triton Drive, Albany sold at auction for $2,170,000 at a 5.99 per cent yield through Laurie Burt and Matt Mimmack, Bayleys North Shore Commercial. Featured in Bayleys’ Total Property portfolio it comprises ground-floor showroom or office plus mezzanine office, with high stud clearspan warehouse at the rear. It is tenanted by Allied Exteriors which has been in occupation since 2011.
Tauranga education campus
A new 2035 sq m education campus on a 4020sq m site at 180 Seventeenth Avenue, Tauranga has sold for $5,548,387 at a 7.75 per cent yield through Brendon and Lynn Bradley, Bayleys Tauranga. It was purpose built for Te Wananga O Aotearoa which commenced a nine-year lease in December, with two-yearly CPI rent reviews.
Roscommon Rd duo
Tony Chaudhary, of Bayleys South Auckland office, has sold two nearby vacant properties in Roscommon Rd, Clendon for just over $4 million. One was a 540sq m warehouse on a 2100 sq m Business 5 site at 429 Roscommon Road which sold for $2,025,000. The other was Unit A, 421 Roscommon Rd, a 1340sq m retail unit which sold for $1,995,000.
Papakura retail building
A 1579 sq m retail building with 20 car parks on a 2023 sq m site at 138-142 Great South Rd, Papakura has sold for $2,360,000 through Piyush Kumar and Peter Migounoff, Bayleys South Auckland. NZ Post occupies 498sq m on a nine-year lease from December 2010, 288sq m is leased to The Cooperative Bank for three years from October 2013 while 335sq m is vacant. Eleven upper-level apartments are proposed for the building.
Vacant in McColl Street
A 540 sqm freehold two-level mixed use property at 22 McColl St, Newmarket, has been sold with vacant possession to a private investor for $2,775,000 by Jonathon Lynch and Kris Ongley of Colliers International.
Silverdale office and warehouse
A 2804 sqm site with a 1387sq m office and warehouse at 14 Peters Way, Silverdale has been sold at auction to a private investor for $3,125,000 by Jimmy O'Brien, Mike Ryan and Matt Prentice of Colliers International. The sale price represented a yield of 5.76 per cent.