RECENT DEALS for Saturday July 13

7:01 PM Friday July 12, 2019 True Commercial’s Recent Deals

This Wairau Valley property leased to Tile Warehouse sold at auction for $4,325,000. Photo / Supplied

North Shore investment property

A high-profile Wairau Valley investment property on a renewed six-year lease to national brand Tile Warehouse has sold under the hammer at Colliers International’s North Shore auction room for $4,325,000, at a yield of 4.1 per cent. The property at 120 Wairau Rd comprises an 860sq m warehouse, showroom and office on a 1525sq m freehold site. It was jointly marketed by Janet Marshall and Euan Stratton of Colliers in conjunction with Alex Strever and Michael Nees of Bayleys.

Steel & Tube centre

Steel & Tube’s Hamilton distribution centre has sold to a local private investor for $17m at a 6 per cent yield. The property comprises 4700sq m of warehouse and office facilities on a 12,131sq m site. The deal was brokered by Alan Pracy and Mark Brunton of Colliers Hamilton.

Hamilton development site

A 3000sq m future development site in Hamilton’s CBD has sold with vacant possession for $3,588,000. The freehold property at 611 Victoria St, currently used for on grade parking, has resource consents in place for a hotel or apartment development. The sale by deadline private treaty was brokered by Pracy and Brunton of Colliers Hamilton.

Te Rapa subdivision lots 

Pracy also brokered the sale of two adjoining industrial subdivision lots at Te Rapa Gateway in Te Rapa, Hamilton, for $3,363,500. Lot 98 Chalmers Rd is a 5290sq m site while Lot 99 is a 4332sq m site with corner profile to Arthur Porter Drive. 

Otahuhu commercial premises

A 608sq m commercial premises zoned Terrace Housing and Apartment on 2064sq m spread over three-titles at 7 Piki Thompson Way, Otahuhu, sold for $1.7m with a 3.9 per cent yield by Dave Stanley, Ash Jogia and Tony Chaudhary, Bayleys South Auckland.

Remuera Rd building

A 475sq m mixed-use building, zoned Terrace Housing and Apartment, on a half share 1540sq m cross leased site at 631 Remuera Rd, Remuera, was sold at a mortgagee auction for $1.8m by Harry Cheng, Bayleys Remuera and Nicolas Ching, Bayleys Auckland. The property encompasses a 312sq m villa with six-bedrooms and parking, plus a 132sq m commercial area occupied by a Thai restaurant with a 10-year lease to June 2026 earning $67,826 per annum.

Auckland CBD office

A 140sq m Auckland CBD modern office premises with north-facing deck and car parking consented for residential use on Level 1/22 Drake St, was sold by negotiation for $1.4m by Matt Gordon and Cameron Melhuish, Bayleys Auckland.

Tamaki food grade facility

A food grade industrial facility at 1/30 Kerwyn Avenue, East Tamaki, Auckland, has sold for $2.5m at a yield of 6.62 per cent. The freehold investment property comprises 1582.7sq m of warehouse and office space, split into two tenancies, and an exclusive yard of approximately 2800sq m. The sale by deadline private treaty was brokered by Paul Higgins and Jolyon Thomson of Colliers Highbrook. 

Hamilton industrial lots

Two industrial lots with 3353sq m of combined warehousing and offices on a 6071sq m site with dual frontage at 36-40 Colombo St and 32-36 Ellis St, Hamilton, were sold for $3.6m by Rebecca Bruce and Jordan Metcalfe, Bayleys Waikato.

Nelson large-format retail

A large-format retail property on a long lease to Spotlight Nelson has sold for $8.6m, at a yield of 6.4 per cent. The property at 2 Hastings St, on the edge of Nelson’s CBD, comprises a 2508sq m building on a 6768sq m freehold site with low coverage of only 37 per cent. The sale was brokered by Colliers’ capital markets team and Nelson manager Geoff Faulkner.

Tauranga warehouse office

A 546sq m industrial premises with warehousing, office and 1000sq m yard plus carparking on 1561sq m site, was sold by auction with vacant possession at 18 Barberry Pl, Tauranga, for $1m after marketing by Myles Addington and James Ross, Bayleys Tauranga.

Mairangi Bay unit

A 550sq m freehold industrial unit at 14H Vega Place, Mairangi Bay, Auckland was sold to an owner-occupier with vacant possession for $1.85m in a negotiated sale brokered by Ryan de Zwart and Jimmy O’Brien of Colliers North Shore.

Grey Lynn retail duo

Two ground-floor retail units, built in 2004 with a total floor area of 46sq m at 68A and 68B Ponsonby Rd, Grey Lynn; plus four fully-leased basement carparks were sold at auction for $838,000 representing a 5.69 per cent yield, through Tony Chaudhary and Amy Weng, Bayleys South Auckland, and Phil Haydock, Bayleys Auckland.

Wiri yard and warehouse

A substantial industrial property at 55 Mclaughlins Rd, Wiri, Auckland, has sold for $10m at a yield of 5.13 per cent through Ash Vincent and Greg Goldfinch of Colliers’ Highbrook industrial team. The property comprises 22,355sq m of mostly yard-based land with 3252sq m of warehouse.

Paeroa retail premises

A 630sq m retail premises, redeveloped in 2013 at 131 Normanby Rd, Paeroa, on 774sq m corner site with dual street frontages and car parking at the rear; and occupied by a restaurant, bar and cafe, was sold at auction for $1.4m by Josh Smith and Daniel Keane, Bayleys Hamilton.

Queenstown Gems centre

A childcare centre on a 12-year lease to local Queenstown business Gems Educational Childcare was sold for $2,825,000, at a yield of 5.95 per cent through Mark Simpson, Rory O’Donnell and Alastair Wood of Colliers Queenstown. Purpose-built in 2012, it comprises a 366sq m building on a landscaped 2178sq m freehold site.

Royal Oak childcare

A 209sq m childcare centre with multiple street frontages on a 1012sq m corner site zoned Town Centre, and on two titles at 740 Manukau and 1 Turama Rds, Royal Oak, were sold by negotiation for $3.6m by Damien Bullick and James Chan, Bayleys Auckland.

Fashionable Hastings site

A multi-tenanted retail property anchored by national fashion chain Hallensteins, at 200 Heretaunga St West, Hastings, was sold for $2.8m at a yield of 8 per cent by Danny Blair of Colliers Hawke’s Bay. The property comprises an 844sq m building on a 1161sq m freehold corner site.

Tauranga industrial auctioned

A 578sq m Tauranga industrial premises with warehousing, office and a concrete yard on a 1099sq m site at 4 Hynds Rd, Tauranga, was sold at auction for $1.3m at a 4.69 per cent yield by Myles Addington, Bayleys Tauranga.

Tauranga freehold warehouse

A 1000sq m warehouse on a 2063sq m freehold industrial site at 136 Birch Avenue, Tauranga, has sold with vacant possession for $2,157,500 in a sale brokered by Rob Schoeser and Simon Clark of Colliers Tauranga.