Recent Deals for Saturday November 17

7:50 PM Friday November 16, 2018 True Commercial’s Recent Deals

In Northland, the Otaika Shopping Centre on State Highway 1 at Raumanga, sold for $3.81m. Photo / Supplied

Northland shopping centre

The Otaika Shopping Centre, Raumanga, on a 2799sq m site on SH1 at the southern entranceway to Whangarei, sold at a Bayleys Total Property auction for $3.81m at a 6.84 per cent yield through John Haselden and Neil Campbell, Bayleys Whangarei. The 1270 sq m fully leased convenience retail complex is occupied by eight tenancies with five on 10-year leases running until 2027-2028. 

CBD Sale St building

A premium 6317sq m office property at 34 Sale St, Auckland, has sold for $63m, representing a yield in the early 5 per cents. The off-market deal was brokered by Simon Child, Sam Gallaugher and Matt Lamb of Colliers International.

Kingsland office-warehouse

Two adjoining office-warehouses in Kingsland Tce, on 1952sq m of Mixed Use zoned land, have sold at a total value of $5.92m through Nigel McNeill and Kate Kirby of Bayleys Auckland’s investment team.

Greenlane commercial property

Gareth Fraser, Simon Child and Josh Coburn of Colliers have brokered the sale of 614 and 616 Gt South Rd, Greenlane, for $11.6m, or a 3.1 per cent yield on holding income. The 3867sq m commercial property has a net lettable area of about 2125sq m across two buildings.

Strata titled retail unit

A 1026sq m strata-titled retail unit with three tenancies at 1/2 Kitchener St, Auckland CBD, has sold for $3.5m, representing a yield of 6.4 per cent. The deal was brokered by Adam White, Simon Felton and Gawan Bakshi of Colliers’ investment sales team.

Taranaki fitness centre

A 2025sq m fitness centre in a CBD retail complex at 4 Egmont St, New Plymouth, sold for $3.8m at an 8.92 per cent yield through Mike Houlker and Sunil Bhana, Bayleys Auckland; and Iain Taylor and Alan Johnston, Bayleys Taranaki. It has been occupied by City Fitness since 2007.

Lower Hutt development site

A 4818sq m future development site at 1115 High St in Taita, Lower Hutt, has sold vacant for $1.95m, with quotes in place for the removal of 1170sq m of various structures. The deal was brokered by Tim Julian and Janette Lillas of Colliers.

Freemans Bay villa

A 127sq m character villa offering commercial and residential options on a 298sq m corner site with excellent on-site car parking at 70 College Hill, Freemans Bay, sold vacant for $1.45mthrough Andrew Wallace and Cameron Melhuish of Bayleys Auckland.

Hastings Twyford industrial

A 3742sq m Hastings industrial property with a sealed yard and a 1640sq m high-stud warehouse and office has sold for $1.8m, at a yield of 8.47 per cent. The sale of 1/1424C Omahu Rd, Twyford, was brokered by Rob Nankervis of Colliers Hawke’s Bay.

Three shops in Pakuranga

A fully leased single-level 421sq m building, comprising three shops with accommodation, on a 898sq m corner site at 60-62 Tiraumea Drive, Pakuranga, sold for $1,337,860 at a 6 per cent yield in a deal brokered by Tony Chaudhary, Janak Darji and Amy Weng, Bayleys South Auckland.