10:00 AM Monday May 9, 2016 Paul Charman

This four level building in Khyber Pass Rd, Grafton, sold for $10 million.

Upgraded ex-NZ Lotteries home for lease

A four-level commercial building on a 1,875 sq m Mixed Use zoned site at 117 Khyber Pass Road, Grafton has been sold vacant for $10 million through Paul Hain of Bayleys Auckland. Built in the late 1980s, it has three levels of office space totalling 2750sq m and basement car parking for 75 vehicles. Previously occupied by NZ Lotteries, the building has undergone a full shell upgrade including new carpets, suspended ceilings, lighting and a services reconfiguration. Hain says the building is ready for immediate occupation and has been purchased by an investor looking to lease it up.  

Albany industrial building

A 755sq m industrial building at 59 Corinthian Drive, Albany, has been sold prior to completion for $2,075,000 by Laurie Burt of Bayleys North Shore Commercial. Located in the Orchard Business Park, it has 505sq m of warehousing with a 50sq m canopy, 20sq m of offices plus 13 parking spaces.

Two lots sold in Tuakau

A 1.4302ha industrial site at 23A Carr St, Tuakau, has sold for $2.3 million through Shane Snijder, Peter Migounoff and Gordon Gibson of Bayleys South Auckland with the purchaser to complete the subdivision into two lots. The 9346sq m Lot 1, which has a 1960sq m packing shed with 65sq m canopy and leased for six years from February 2016, sold for $1.8 million at a 7.5 per cent yield. Lot 2 comprising 4951sq m of development land sold for $500,000.

Mt Eden upper level unit

A 743sq m upper-level unit with 38 car parks in the ASB building at 292-310 Dominion Rd has been sold for $1.9 million at an 8.3 per cent yield byTony Chaudhary of Bayleys South Auckland.Anchor tenant Valentines Restaurant occupies 523sq m on a lease until August 2018 with the balance leased by a chiropractor until January 2020 and Kip McGrath on a monthly lease.