Recent Deals for Saturday December 8

6:33 PM Friday December 7, 2018 True Commercial’s Recent Deals

These ground floor units at 12-14 O'Connell St, Auckland City, sold for $5.2m. Photo / Supplied

Auckland City units

Units A, B and C totalling 359sq m on the ground floor of 12-14 O'Connell St, Auckland CBD, have sold for $5.2m at a 6.41 per cent yield through Nicolas Ching, Beterly Pan and James Chan of Bayleys’ international division. The units have six retail tenants with Proper Pizza occupying a third of the space on 10-year-lease from April 2018.

Albany town centre

A 3406sq m freehold development site at 4 Appian Way, in the centre of Albany town centre, has sold $5.38m. The landholding has approved resource consents for a mixed-use residential, retail and commercial development. The transaction was brokered by Colliers International’s capital markets team, and Cherry Higginson and Josh Coburn of site sales.

Whenuapai childcare

A purpose-built new childcare centre with an 18-year lease to established provider New Shoots has sold for $4.4m, representing a yield of 5.85 per cent. The sale of the 2200sq m freehold property at 1-9 Maramara Rd, Whenuapai, was brokered by Josh Coburn, Shoneet Chand and Caroline Cornish of Colliers.

Airport Oaks building

An 1040sq m industrial building, on a 1656sq m site zoned Light Industry, at 10 Rennie Dr, Airport Oaks, has sold with vacant possession for $2,475,000 through Bayleys industrial agents Nick Bayley, James Valintine and William Gubb.

New Lynn retail block

A fully leased retail block, at 3114-3120 GreatNorth Rd, New Lynn, Auckland, has sold at auction for $1.3m. The property comprises a 307sq m building with four tenants on a 486sq m freehold site with rear car parks. The deal was brokered by James Appleby, Josh Coburn and Gareth Fraser of Colliers.

Tauranga office-warehouse

A modern 848sq m building with high-stud warehousing and air-conditioned offices on a 1794sq m site, with 24 carparks at 2 Roxanne Pl, Poike, in Tauranga, was sold at auction for $1.65m at a 6.06 per cent yield by Bayleys’ Jo Stewart and Lloyd Davidson.

Mt Eden office unit

A modern 169sq m ground floor office unit with a high street front profile in Zone 23 complex at 23 Edwin St, Mt Eden, plus five onsite car parks sold vacant for $1.1m through James Were and Scott Kirk, Bayleys Auckland.

Building on Broadway

Elaine Tutty and Bruce Jiao of Barfoot & Thompson Commercial North Shore, have sold a five-level retail and office building at 131-151 Broadway, Newmarket, for $27.9m — at a yield of 6.45 per cent. The 4734.67sq m property — on a 2408sq m site with 87 car parks — is fully tenanted, returning $1,801,127.

Gisborne rural lifestyle

A 12.65ha rural lifestyle property at 70 Haisman Rd, Gisborne, has sold after auction for $1.3m. The property, is a three-bedroom home on a substantial landholding with six paddocks suitable for grazing, cropping or redevelopment. The sale was brokered by Alan Thorpe and David Egan of Colliers, Gisborne.