Recent Deals for Monday July 16
This industrial building at 9 Tawa Drive, Albany, sold for $5.38m. Photo / Supplied
Albany industrial sale
A 1458sq m industrial building on a 2457sq m corner site at 9 Tawa Dr, Albany, sold at auction for $5.38m at a 4.55 per cent yield through Matt Mimmack, Laurie Burt, Bayleys North Shore Commercial. Multinational tenant Xylem Water Solutions, in occupation since the building was constructed in 1994, has renewed for four years from April 1, 2018.
Glen Eden retail
Unit 6, 5 Oates Rd, Glen Eden, a 175sq m modern retail property in a corner position in a Town Centre zone, sold after auction for $1.36m at a 5.15 per cent yield through Tony Chaudhary, Janak Darji and Katie Wu of Bayleys South Auckland. TAB has been in occupation for over 10 years with a current six–year lease from October 2018.
Levin commercial building
A 1400sq m commercial building on 999sq m of land at 213 Oxford St, Levin, in the main road retail precinct, sold at auction for $1,634,000 at an 8.05 per cent yield through Stephen Lange and James Higgie of Bayleys Wellington. Two street front retail premises are occupied by BNZ, on 10-year lease until September 2021, and Postie Plus on three-year lease until March 2020, with small monthly tenancy at rear.
Mt Eden warehouse
A 504sq m light industrial warehouse and office space at 36 Rossmay Tce, Mt Eden, has sold at auction for $2.14m with vacant possession. The deal was brokered by Jonathan Lynch and Hamish Paterson of Colliers International, Investment Sales.
Dominion Rd property
A 568sq m investment property with a 133sq m solid brick and tile building and four onsite carparks at 176 Dominion Rd, Mt Eden, has sold post-auction to a private investor for $1,443,000 net. The deal was brokered by Jonathan Lynch, Gawan Bakshi and Ned Gow of Colliers International.
Rangiora corner complex
A 605sq m retail complex on a 1194sq m site with off-street parking on the corner of High St and Durham St in Rangiora, North Canterbury, sold at auction for $1.99m at a 6.15 per cent yield through Stewart and Alex White and Chris Frank of Bayleys Canterbury.