Recent Deals for Saturday May 12

4:57 PM Friday May 11, 2018 True Commercial’s Recent Deals

This refurbished former Auckland City warehouse building at 20 Drake St sold for $5,425,000. Photo / Supplied

City warehouse reanimated

A 461sq m immaculately refurbished and earthquake-strengthened former warehouse building on a 240sq m site at 20 Drake St, Auckland CBD, sold for $5,425,000 at a 4.2 per cent yield through Alan Haydock and Damien Bullick of Bayleys. Previously an apartment, it has a nine-year lease from January 2017 to animation production company Assembly Creative Ltd.

Henderson industrial

A 6495sq m industrial building on an 8712sq m site at 1-11 Aetna Pl, Henderson, sold for $9m through Bayleys agents Sunil Bhana, James Valintine, Mike Houlker and Matt Mimmack. It has 5095sq m of warehousing with an 8.9 to10.35m stud, roller doors, a 1120sq m canopy and 280sq m of office and amenities.

Parnell retail office

A prime tenanted investment comprising a multi-use office and retail space at 157-171 Parnell Rd has sold for $10.9m, and a yield of 5.39 per cent. The freehold property is split across two buildings with separate titles and is anchored by national brand tenants House of Travel and La Porchetta. The deal was brokered by David Burley, Peter Herdson and Paul Dyson of Colliers International.

Meat processing facility

A meat processing facility on a 1545sq m commercially-zoned freehold site, with a long-established tenant on a 10-year-lease, at 63 Enterprise Dr, Papamoa, has sold for $1,875,000 representing a yield of 6.4 per cent, in a deal brokered by Rob Schoeser and Simon Clark of Colliers, Tauranga.

Mt Maunganui sale

A 600sq m industrial warehouse with office/showroom space, parking and rear yard on a 1325sq m freehold site at 137 Newton St, Mount Maunganui, has sold for $1,775,000 in a deal brokered by Simon Clark and Duncan Woodhouse of Colliers.

Devonport character

A fully leased 443sq m character retail, residential and office building on a 371sq m Town Centre zoned site at 69-71 Victoria Rd, Devonport has sold for $2.1m at a 6.68 per cent yield through Adam Curtis and Adam Watton, of Bayleys. Originally built in the early 1900s and added to in the late 1980s, the building is fully leased to three tenants.

Airport Oaks unit

A 750sq m industrial unit on 1294sq m site with six car parks at 45 Rennie Drive, Airport Oaks, Mangere, sold vacant for $1.75m through Bayleys agents Alex McNeil, and Nick Bayley. It comprises 500sq m of medium stud warehousing and 250sq m of air-conditioned offices.

Christchurch Waterloo site

A 9987sq m industrial site with a tenant in the Waterloo Business Park, Islington, Christchurch, has sold for $2,197,140 to an investor, through Stewart White, Chris Frank and Alex White Bayleys Canterbury.

Warkworth building

A 343sq m industrial building on the corner of Glenmore Drive and Woodcocks Rd, Warkworth, has sold for $851,000 at 4.7 per cent yield to a private investor. The deal was brokered by Barry Masefield and Graeme Perigo of Barfoot and Thompson commercial.