Recent Deals for Saturday February 24

5:06 PM Friday February 23, 2018 True Commercial’s Recent Deals

This bulk retail complex in Lower Hutt sold for $9.4 million. Photo / Supplied

Lower Hutt bulk retail sale

A 3556sq m bulk retail complex on a 3846sq m corner site at 31 Knights Rd, Lower Hutt, was sold for $9.4 million at an 8.08 per cent yield through Grant Young and Mark Hourigan of Bayleys Wellington. It has a Weighted Average Lease Term of 4.9 years to national tenants Noel Leeming, Warehouse Stationery and Curtain Studio.

Invercargill commercial

A 1450sq m commercial property on a 2024sq m freehold site at 41 Leet St, Invercargill, was sold by negotiation to private investors for $730,000 in a deal brokered by Mark Simpson and Rory O'Donnell of Colliers International Otago.

Napier corner site

A 1700sq m bulk retail building on a 4019sq m corner site at 102-106 Taradale Rd, Napier sold for $3.15m at a 6.98 per cent yield through Sam MacDonald and Gary Wise of Bayleys Hawkes Bay. It is occupied by national tenants Mico Plumbing and Bike Barn

Church at Raumati South

A 946sq m church on a 4749sq m large freehold site at 20 Jeep Rd, Raumati South, was sold by private treaty to Collie Properties for $975,000 in a deal was brokered by Dean Anderson of Colliers International.

Tauranga city site

A 1060 sq m City Centre zoned site, with a 49m height allowance at 74 Grey St, Tauranga, and occupied by a 1290sq m retail and office building that is fully leased to four tenants, sold for $2.4m at a 5.88 per cent yield through Brendon and Lynn Bradley of Bayleys Tauranga.

Two Wellington units

Two commercial units totalling 425sq m at 4A and 4B, 33 Kaiwharawhara Rd in Wellington have sold by negotiation for $940,000 in a deal brokered by Ben Taylor of Colliers International.