Recent Deals for Monday April 30
This childcare and retail property at 1 Kawakawa Place, Westgate sold for $9,375,000. Photo / Supplied
Westgate childcare and retail
A recently completed 1858sq m childcare and retail property on a 3223sq m site with 40 car parks at 1 Kawakawa Place, Westgate, sold for $9,375,000 to a private limited partnership at a 6 per cent yield through Brian Caldwell of Bayleys North Shore Commercial. New Shoots Childcare Centre, licensed for 125 children, on a 15-year lease and Source Cafe, on a six-year lease, pay 90 per cent of the rental income with the vendor providing a nine-month rental underwrite on vacant retail space.
Airport Oaks $9.2m sale
A high-quality industrial building comprising of a 3290sq m clear span warehouse on a 5830sq m site at 51 Aintree Ave, Airport Oaks, with a 6-year lease to global tenant Husqvarna, has sold to a private investor for $9.2m representing a yield of 4.83 per cent. The deal was brokered by Andrew Hooper, Dwayne Warby and Hamish West of Colliers.
Morningside industrial units
Industrial warehouse properties at 34, 36 & 38 Ethel St, Morningside, have been sold by JLL agents Alex Wefers and Jarred Hill. They have 19 car parks and sit on a 1976sq m site. Floor sizes range from 501sq m to 603sq m, with a total floor area of 1621sq m. Following an expressions of interest campaign, the units sold to an add-value investor for $5.35m.
Tauranga Tauriko sites
Three freehold vacant pieces of land zoned bulky goods, totalling 8149sq m at 33, 35, and 37 Taurikura Drive, near Tauranga, have sold to a private investor for a total of $3,425,000 in a deal brokered by Rob Schoeser, Simon Clark and Mat Gibbard of Colliers International.
Ngauranga warehouse and offices
A 1038sq m high-stud warehouse and offices on a 5166sq m site at 23 Centennial Highway, Ngauranga, Wellington has sold for $6,128,700 at a 6.77 per cent yield through Fraser Press of Bayleys Wellington. It is occupied by two tenants including the Department of Internal Affairs, with an average nine-year lease term.
Mt Wellington buildings
Two standalone industrial buildings totalling 450sq m on separate titles of 1019sq m at 147 and 147a Marua Rd, Mt Wellington, have sold for $1.86m through Mike Adams and Phil Haydock of Bayleys Auckland. Previously occupied by a panel beating business, the property went with vacant possession.
Wairau Valley post-auction
A 692sq m building comprising five industrial units on one 1017sq m title at 17 Ashfield Rd, Wairau Valley, and fully leased to four tenants, sold post-auction for $1.7m at a 4.45 per cent yield through Trevor Duffin and Ranjan Unka, after being passed in for $1,535,000.
Fully occupied Otahuhu building
A recently refurbished 520sq m commercial building on a 1095sq m site at 35 Atkinson Ave, Otahuhu, and fully occupied by four tenants, was sold for $1.63m at a 6.13 per cent yield through Scott Kirk and James Were of Bayleys Auckland; and Tony Chaudhary of Bayleys South Auckland.