Recent Deals for Saturday March 2

8:22 PM Friday March 1, 2019 True Commercial’s Recent Deals

This large bare land site at 80 Don McKinnon Drive, Albany, sold for $19.25m. Photo / Supplied

Big Albany bare land sale

A 15,969sq m bare land site, zoned Business-Metropolitan Centre, at 80 Don McKinnon Dr, Albany has been sold for $19.25m, at $1205 per sq m, by Bayleys’ Eddie Zhong and Mike Hotchin. The sloping site has an existing resource consent for 98 terraced houses.

Onehunga Mall commercial

A two-level commercial property at 191 Onehunga Mall,  has sold for $3.42m, at a yield of 4.67 per cent. The property has a total floor area of about 1500sq m on a 512sq m freehold site. The off-market sale by negotiation was brokered by Colliers International’s Gawan Bakshi, Ned Gow and Adam White.

Katikati standalone office

Colliers also brokered the sale of a standalone unit titled office building in the Bay of Plenty township of Katikati for $1.23m, representing a yield of 7.1 per cent. Units 1 and 2, at 13 Talisman Dr, have a combined lettable area of 412sq m, being fully leased to law and accountancy firms. The deal was brokered by Simon Clark and Grant White.

Hastings fitness centre

A 2725sq m fitness centre on the corner of Heretaunga St East and Hastings St North, Hastings, has sold with 15-year lease to national tenant, City Fitness NZ for $6.5m, at a 6.99 per cent yield through Bayleys agents, Mike Houlker and Sunil Bhana Auckland and Rollo Vavasour. The seismic rating is 96 per cent of New Building Standard.

Tauranga city fringe property

A city fringe industrial property at 140 Second Ave, Tauranga, has sold with vacant possession for $2.1m. It comprises an about 1000sq m workshop and office on a 1012sq m freehold site. The sale by private negotiation was brokered by Grant White, Simon Clark and Richard Davidson of Colliers.

Mt Eden mixed use building

A 716sq m 1980s’ warehouse, showroom and office building, with a two-bedroom apartment, on a 446sq m Mixed-Use zoned site, at 40 George St, Mt Eden, has been sold partly leased for $2.75m by James Were, Scott Kirk of Bayleys.

Coromandel landholding

A substantial 22.5ha landholding zoned for residential and lifestyle subdivision at 94 Hahei Beach Rd, in the popular Coromandel holiday spot of Hahei, has sold for $2.9m. The sale by tender was brokered by Colliers’ Roger Seavill.

Rotorua with ANZ tenant

A 1526 sq m retail and office building on a1589 sq m corner site, at 1251 Fenton St, Rotorua, has sold for $2,285,000 at an 8.84 per cent yield, through Mark Slade and Brei Gudsell, Bayleys Rotorua. The ANZ Bank occupies most of the building on a three-year lease, with a break clause.

Longburn industrial facility

A 5070sq m industrial facility on a 2.48ha site at 166 Works Rd, Longburn, Palmerston North, has sold for $1.2m, at a 15.5 per cent gross yield. The sale by negotiation was brokered by Janine Hodgson of Colliers.

East Tamaki warehouse

A 334sq m industrial unit at 108B Harris Rd, East Tāmaki, sold vacant for $1,175,000through Roy Rudolph, John Bolton and Katie Wu, Bayleys South Auckland. It has 283sq m of high-stud, clear-span warehousing, plus 51sq m of offices and amenities.