Recent Deals for Saturday June 8

10:40 AM Friday June 7, 2019 True Commercial’s Recent Deals

This two-storey commercial premises in Cambridge, sold at auction for $1.34 million. Photo / Supplied

Cambridge commercial

A 510sq m two-storey commercial premises occupied by an optometrist, dentist and beauty therapist on 328sq m site at 33 Duke St, Cambridge, sold at auction for $1.34m at a 5.93 per cent yield after marketing by David Cashmore and Rebecca Bruce, Bayleys Waikato.

East Coast station

The 1221ha sheep and cattle breeding Puriri Station in the farming district of Whangara, 43km north of Gisborne, has sold by tender for $11m through Tom Lane of Colliers Gisborne, representing a sale price of just under $10,500 “per effective hectare”.

Eden office and warehouse 

A 720sq m standalone office, with warehousing, eight carparks and a 4-bedroom penthouse apartment on 311sq m Mixed Use site at 14 Charlotte St, Eden Tce, was sold for $2.58m by James Were and Scott Kirk, Bayleys Auckland. 

Gisborne orchards

A rural Gisborne property with income from a mandarin orchard has sold at auction for $1.3m. The 7.145ha property at 944 Back Ormond Rd, Makauri, features a recently refurbished four-bedroom home, a large garage and a shed set among groves of Miho and Kwano mandarins. The sale was brokered David Egan and Alan Thorpe of Colliers Gisborne, who also sold by negotiation for $1,435,000 plus GST, a 5.416ha citrus orchard with a residence at 47 Bolitho Road, Waerenga-a-Hika, Gisborne.

Off-market Papamoa sale 

A 3167sq m vacant commercial landholding at 46 Ashley Place, Papamoa, was sold for $1,456,820 in an off-market sale brokered by Rich Davidson of Colliers Tauranga.

Wairau Valley retail

A 175sq m retail premises including 46sq m of covered terrace at 2/160 Wairau Rd, Wairau Valley, sold via negotiation by Matt Lee, Bayleys Auckland, for 1.83m at a 4.99 per cent yield - the lowest yield recorded in the complex since its original unit title sell-down in 2013.

Modern Taupo unit

A modern industrial unit with a long-term tenant at 40 Raywood Crescent, Taupō, has been sold by negotiation for $790,000, at a yield of 6.96 per cent, in a deal was transacted by Tom Lyons of Colliers International Taupō. Built in 2008, the property comprises a 456sq m workshop, mezzanine and office building on a 959sq m site.

Khyber Pass first floor

A 177sq m first floor office premises, plus seven carparks at L/375-389 Khyber Pass Rd, Newmarket, part of an 18-unit complex, has been sold at auction for $1.22m at a 5.49 per cent yield by Matt Lee, Matt Gordon and Quinn Ngo, of Bayleys Auckland.

Christchurch character

In a deal brokered by Courtney Doig of Colliers International, one of the last remaining ‘as-is, where-is’ character buildings in the Christchurch CBD has sold for $795,000. On the corner of High and St Asaph Sts, the building is in the heart of recently restored heritage properties. It occupies a total site area of 181sq m and consists of two floor plates each of 170sq m with a roof top terrace allowing for future flexibility dependant on end use.

Manukau corner site

A 408sq m industrial unit with 11 carparks on a corner site accommodating a cafe and fudge manufacturer at 3/39 Cavandish Dr, Manukau, was sold by negotiation for $1.21m at a 4.99 per cent yield by Rohit Khanna, Janak Darji and Tony Chaudhary, Bayleys South Auckland.

Industrial development block 

A 5.31ha block of industrial development land planted in a seasonal crop at 48 Dunstan Rd, Gisborne, has sold at auction for $1.05m through Philip Searle of Colliers Gisborne. Zoned Rural Industrial it allows subdivision down to 2ha and a wide variety of permitted uses.