Recent Deals for Saturday August 25.

5:56 PM Friday August 24, 2018 True Commercial’s Recent Deals

This property leased as a Z service station on Hibiscus Coast Highway, Silverdale, sold for $6,281,067. Photo / Supplied

Silverdale Z service station

A 2466sq m site on the Hibiscus Coast Highway, Silverdale, with a new 228sq m 24-hour fuel station-retail outlet and an initial 18-year lease to Z Energy, has sold for $6,281,067 at a 5 per cent yield through Bayleys’ Bill Lissington and Tony Chaudhary. Lissington says the vendor recently completed another Z Energy Service station on the former Palmers’ site at 4155 Great North Rd Glendene.

Two Auckland Airport sales

Colliers International has brokered the sale of 64 Richard Pearse Dr, Auckland Airport, for $8.5m. The property comprises a 3869sq m industrial warehouse and office facility on a 10,165sq m freehold site. The deal was brokered by Brad Johnston, Dwayne Warby and Paul Jarvie of the industrial team, with Dean Collins of the Dunedin office. Johnston and Jarvie with Matthew Barnes also sold 14 Amelia Earhart Ave, for $4.2m. This 3887sq m freehold property comprises a 1257sq m office building over two levels and 59 car parks.

Penrose warehouses

JLL agents Richard McNaught and Luke Nash have sold a 1731sq m industrial warehouse at 641 Great South Rd, Penrose, for $4.15m, at a yield of 5.1 per cent. They also sold a 154sqm vacant warehouse at 13C Bassant Rd, Penrose, for $631,000.

Tauranga Third Ave auction

A 348.8sq m workshop/warehouse at 116 Third Ave, Tauranga, has sold at auction through Lloyd Davidson of Bayleys Tauranga for $2m. The vacant unit sits on 1012sq m of flat rectangular-shaped, freehold, and Commercial-zoned land.

Napier South complex deal

Four adjoining properties at the corner of Faraday and Thackeray Sts, 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 and 15 Faraday Sts 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 Dan Walker of Colliers.

Te Awamutu bank building

A 505sq m seismically strengthened bank building on a 479sq m corner CBD site at 106 Alexandra St, Te Awamutu, sold at auction for $1.5m at a 6.25 per cent yield through Josh Smith and Blair Hutcheson of Bayleys Waikato. Westpac has been in occupation since 1999, now being on a six-year-term from August 2017.

Napier Onekawa industrial

A 960sq m building on 5014sq m of prime freehold industrial land at 60 Prebensen Dr, Napier, has been sold for $2,350,000 by Dan Walker of Colliers. 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.

Ngatea self-service Gull

A 1624 sq m site on St H 2 (SH2) at 44 Orchard Rd West, Ngatea, with a 96sq m canopy for a fully automated, self-service Gull fuel station, has sold at auction for $1.02m, at a 5.66 per cent yield, through Josh Smith of Bayleys Waikato. Gull NZ has a 10-year lease plus four five-year rights of renewal.

Eden Terrace standalone

A 337sq m standalone warehouse and office building on a 325sq m site at 19 Virginia Ave East, Eden Terrace, has sold with vacant possession for $1.35m through Andrew Wallace and Cameron Melhuish of Bayleys Auckland City & Fringe commercial division. It has a Mixed Use zoning with a 21m height overlay.

Vacant Rosebank property

A vacant industrial property at 390B Rosebank Rd has been sold by JLL agent Luke McGill and Richard McNaught for $1.15m. The property has a 353sq m warehouse and 153sq m of office.

Te Puke main street retail

A fully leased 616sq m retail building with three tenants on a 667sq m site with 20m of main street frontage at 27-31 Jellicoe St, Te Puke, sold at auction for $1,105,000 at a 7.6 per cent yield through Brendon, Lynn & Ryan Bradley of Bayleys Tauranga.