RECENT DEALS for Saturday, May 20
One of the tenants at 617 New North Rd, Morningside, is a popular cafe. Photo / Supplied
Morningside building duo
A property at 617 New North Rd, Morningside, has been sold by Alex Wefers and Jarred Hill of JLL for $2.5m, and a yield of 4.3 per cent. Zoned business local centre, the freehold site has a net lettable area of 505sq m, and has two tenants paying $108,398 per annum net. Eencompassing two different buildings and six carparks, the property is leased to a cafe and a workers’ union, and has two highly-visible street frontages to New North Rd and Western Springs Rd.
Hamilton investment and retail
A 2317sq m freehold investment/retail property at 4 Maui St, Hamilton, has sold on the market for $3,260,000. The deal was brokered by Alan Pracy and Justin Oliver, with a referral from Jolyon Thomson and Ben Cockram of Colliers International.
Mt Eden Zone 23 units
Three units in Zone 23 complex at 23 Edwin St, Mt Eden, comprising 670sq m of high-stud contemporary office accommodation plus 24 car parks, sold for $3.8m at a 6.75 per cent yield through Damien Bullick and Alan Haydock, of Bayleys Auckland City & Fringe. Two established tenants have renewed their leases for a further six years.
On Target in Wairau Valley
A 3265sq m freehold industrial site at 6 Target Court, Wairau Valley, has sold by private treaty for $3.2m plus GST representing a yield of 6.7 per cent. The deal was brokered by Nick Recordon, Matt Prentice and Jimmy O'Brien of Colliers International, Tauranga.
Tauranga high-stud industrial
A 1294sq m high-stud industrial building on a 2730sq m site at 36 Glenlyon Ave, Tauranga sold for $1.7m at a 6.5 per cent yield through Brendon and Lynn Bradley of Bayleys Tauranga. Anchor tenant Fletcher Building occupies the larger front 981sq m unit with a landscape business in the 313sq m unit at the rear.
Waikanae commercial property
A 917sq m commercial office/retail property 3 Omahi St, Waikanae, has sold on the market for $1,390,000. The deal was brokered by Dean Anderson of Colliers International, representing a yield of 6.98 per cent.
Flat Bush bare land
A bare land site of 1386sq m at 201 Murphys Rd, Flat Bush, has sold for $1,950,000 at $1407 per sq m through Dave Stanley of Bayleys South Auckland. Its Neighbourhood Centre zoning allows for three-level buildings, with retail on the ground floor and residential above.
Sold at auction in Takapuna
A 298sq m freehold retail property at 42-44 Hurstmere Rd, Takapuna, has sold at auction for $3,125,000 representing a yield of 4.7 per cent. The deal was brokered by Euan Stratton, Matt Prentice and Ellie Martin of Colliers International, Napier.
Napier’s Forsyth Barr House
The 660 per cent two-level Forsyth Barr House on a 485sq m site at 42 Tennyson St, in Napier’s Art Deco quarter, sold for $1,525,000 at a 5.1 per cent yield through Sam MacDonald, Bayleys Hawke’s Bay. The building has been refurbished to a high seismic standard with offices above ground floor retail and a 174sq m vacancy.