Recent Deals for Saturday March 31

12:00 PM Friday March 30, 2018 True Commercial’s Recent Deals

This 7877 sq m industrial building on a 1.363ha site at 20 Paisley Place, Mt Wellington, sold for $25,384,615. Photo / Supplied

Augusta buys in Mt Wellington 

A 7877 sq m industrial building on a 1.363ha site at 20 Paisley Place, Mt Wellington, was sold for $25,384,615 to Augusta Industrial Fund at a 6.5 per cent yield by Chris Bayley and Mike Houlker of Bayleys Auckland. Americold NZ Ltd has a lease expiring November 30, 2019; with primary producer logistics company Icepak to lease from December 1, 2019. 

Hamilton dealership

A 1270sq m car showroom and dealership on a 1966sq m site at 94 Tristram St, Hamilton, has sold to Foster Develop for $2.5m in a deal was brokered by Alan Pracy and Justin Oliver of Colliers International.

Cambridge Lakewood lease

A 36-unit motel in Block D within a new development of Lakewood Cambridge Shopping Centre has been leased to Haven Hospitality on a 35-year-term for $440,000 per annum net in a deal brokered by Pracy and Leon Johnson of Colliers. 

Mangere plant

A steel manufacturing plant comprising 2112sq m of warehousing and 220sq m of offices on a 3733sq m site at 4 Waokauri Pl, Mangere, was sold for $4m at a 6.35 per cent yield through Dave Stanley and Jamsheed Sidhwa of Bayleys South Auckland. The property’s longstanding owner-occupier has leased it back for six years.

Avondale character

A 1611 sq m two-level character building at 48 Rosebank Rd, Avondale, on an 1877sq m Town Centre zoned site with 32.5m height overlay was sold vacant for $3.3 m through Damien Bullick, Alan Haydock, Bayleys Auckland

Paraparaumu hostel 

A 870sq m character guest house, operating as a hostel on a 644sq m beachfront site at 3 Marine Parade, Paraparaumu Beach, has sold by tender for $817,000 in a deal brokered by Dean Anderson of Colliers. 

Rotorua motels

A 25-unit motel property on a 2548sq m freehold site with a floor area of 1560sq m at 1271 Ranolf St, Rotorua, has sold by negotiation to a private investor for $1.8m. Earning $146,000 net annually, the property features a thermally heated swimming pool plus two geothermal plunge pools and plenty of on-site parking. The deal was brokered by Mark Rendell and Mathew Gibbard of Colliers. 

Penrose industrial 

A 2792sq m industrial ex-distribution building on a freehold 4956sq m site with a large yard area at 3 Goodman Pl, Penrose, has been sold by private treaty to a private trust for $5,128,000 in a deal brokered Todd Kuzmich and Hamish West of Colliers.

Nelson Bridge St building

A 2741 sq m A-grade seismic-rated building on an 1452sq m site at 68-80 Bridge St, Nelson, leased to Noel Leeming and a gym on long-term leases, sold for $5.95m at a 7.07 per cent yield through Gill Ireland of Bayleys Nelson.