Recent Deals for Saturday March 3

10:46 AM Friday March 2, 2018 True Commercial’s Recent Deals

This large industrial building in Hornby Christchurch sold for $6.5 million. Photo / Supplied

Hornby industrial sale 

A 5237 sq m industrial building constructed in 2002 on a 9719 sq m site at 80 Shands Rd, Hornby, Christchurch has sold for $6.5 million at a 7.5 per cent yield through Stewart White, Chris Frank and Alex White of Bayleys CanterburyLessee national transport operator Move Logistics exercised a five-year right of renewal in January 2017. 

Polo House sells

Wellington Century 21 First Choice Realty owner Joe Lupi has sold Polo House, 8 Chaffers St, Wellington, for $4.5m. For many years Wellington property developer and philanthropist Mark Dunajtschik owned the landmark, which has now been bought by Wellington property investor Vlad Barbalich. Vacant since the 2016 earthquake, the sale price reflects the fact that the building requires re-strengthening, says Lupi.

Cromwell properties

Two vacant industrial sites of 4318sq m at 60 McNulty Rd and 1885sq m at 56 McNulty Rd, Cromwell, have sold by negotiation to a private investor for $1,152,000 and $660,000 in a deal was brokered by Mark Simpson and Rory O'Donnell of Colliers International Otago.

East Tamaki site 

A 4012sq m under developed corner industrial site with around 17 per cent site coverage at 39-41 Stonedon Dr, East Tamaki sold with vacant possession for $3.6m at a land value of $897 per sq m through Katie Wu, John Bolton and Roy Rudolph, Bayleys South Auckland. 

Dunedin former cool stores

Five industrial buildings, previously used as cool stores on a 14,661sq m site at 6, 13 & 17 Kitchener St, Dunedin, have been sold off market for $4,449,540. The deal was brokered by Dean Collins, Commercial and Industrial Sales Director of Colliers International Dunedin.

Foundry Rd Silverdale

Two industrial buildings totalling 1032 sq m on a 2002sq m site at 162 Foundry Rd, Silverdale, with two tenants, sold for $3.05m at a 4.92 per cent yield through Rosemary Wakeman and Matt Mimmack, Bayleys North Shore Commercial.

Heavy Industry in Glendene 

A 4892sq m corner site with a Heavy Industry zoning at 44 Bancroft Crescent, Glendene sold for $1.7m at $347.50 per sq m through Mike Adams, Bayleys Auckland and Dave Stanley, Bayleys South Auckland

East Tamaki unit

A 661sq m industrial unit, one of seven in a 1980s-built complex at 89 Springs Rd East Tamaki, sold for $1.531, 000, a 5.5 per cent yield through Katie Wu, John Bolton and Roy Rudolph, Bayleys South Auckland. It is leased to Fencerite Industries for three years from January 2017.