Recent Deals for Saturday August 18

3:11 PM Friday August 17, 2018 True Commercial’s Recent Deals

This two-level property at 41 Bute Rd, Browns Bay, sold for $6.9 million. Photo / Supplied

Browns Bay multi-tenanted

A two-level, multi-tenanted property at 41 Bute Rd, Browns Bay was sold by JLL’s Ian Hall and John Binning for $6.9m, reflecting a yield of 6 per cent. The property is in seven separate titles and includes a childcare centre licensed for 75 children.

Auckland Airport office

Colliers has brokered the sale of 14 Amelia Earhart Ave, Auckland Airport, for $4.2m. The 3887sq m freehold property comprises a 1257sq m office building over two levels and 59 car parks. The deal was brokered by Brad Johnston, Paul Jarvie and Matthew Barnes.

Hamilton medical suite

A 190sq m purpose-built suite of medical offices on a 954sq m site with 12 parking spaces at 100 Clarence St, Hamilton, was sold by auction with vacant possession for $946,500 through David Cashmore, Rebecca Bruce and Jason Kong, Bayleys Hamilton.

Parnell vacant standalone

A three level, 599sqm standalone property at 24 York St, Parnell, was sold for $4.1m by JLL agents Jason Armstrong and Ian Hall. The property, zoned Business Mixed Use was sold with vacant possession.

Richard Pearse Drive warehouse

A 3869sq m industrial warehouse and office facility on a 10,165sq m freehold site at 64 Richard Pearse Dr, Auckland Airport, has sold for $8.5m The deal was brokered by Brad Johnston, Dwayne Warby and Paul Jarvie of Colliers International’s Highbrook-based industrial team, with Dean Collins of Colliers Dunedin.

Rotorua Ngapuna auction

A 4721 sq m site on the corner of Te Ngae Rd (SH30) and Hamiora Place in Ngapuna Rotorua has sold at auction for $2.35m at a 7 per cent yield through Mark Slade and Brei Gudsell, Bayleys Rotorua. The main occupant is longstanding business Telfer Marine on a 10-year lease from October 2017 and the property also accommodates 19 storage units.

Lynfield childcare centre

JLL agents Kevin Reardon and Alex Wefers have sold a childcare centre at 210 White Swan Rd in Lynfield. The 1011sqm site is licensed for 54 children and sold for $2,325,000, reflecting a yield of 5.2per cent. 

Tauranga industrial

An industrial building comprising 348sq m of warehousing, 95sq m of offices and amenities and a 95sq m mezzanine on a 1012sq m site at 116 Third Ave, Tauranga was sold with vacant possession at auction for $2m through Lloyd Davidson and Laura Taylor, Bayleys Tauranga. It has most recently been used by an automotive business.

Mt Eden off-market

Tommy Zhang and Kevin Reardon of JLL have sold an investment and future development site at 101 Mt Eden Rd. The multi-tenanted building sits on a 1812sq m site and was sold through an off-market campaign for $5.6m, representing a 2.7 per cent yield.

Napier South foursome

Four adjoining properties at the corner of Faraday and Thackeray streets, Napier South, have sold in a complex, multi-vendor deal for a combined $2,649,000. A corner retail property and vacant site at 65 Thackeray St and 15 Faraday St sold for $1,450,000; a residential property at 59 Thackeray St sold for $599,000; and a residential property at 57 Thackeray St sold for $600,000. The off-market deals were brokered by Colliers’ Dan Walker.

Freemans Bay partly leased

A 244sq m partly leased building with two self-contained tenancies on a 312sq m Mixed Use zoned site at 87 College Hill, Freemans Bay, has sold for $2,025,000 through James Were and Scott Kirk, Bayleys Auckland. It has 113sq m of street-front office space earning $48,250 net per annum and a vacant rear 131sq m three-bedroom apartment or workspace. 

In Vinegar Lane on Pollen

Alex Wefers of JLL has sold a vacant property at 25 Pollen St, Grey Lynn. The 80sq m property within the Vinegar Lane Development sold for $1,175,000 well above the capital valuation.

Onekawa retail fringe

A 960sq m building on 5014sq m of prime freehold industrial land at 60 Prebensen Dr, Napier, has sold for $2,350,000. Located on the fringe of the Onekawa large-format retail precinct, the property’s low site coverage, high-profile location and imminent lease expiry offer good redevelopment potential. The deal was brokered by Dan Walker of Colliers.