RECENT DEALS for Saturday October 28
This two-level mixed-use building at 676 Whangaparaoa Rd, Stanmore Bay, sold for $830,000. Photo / Supplied
A 261sq m mixed-use two-level building at 676 Whangaparaoa Rd, Stanmore Bay, has sold for $830,000 through Mustan Bagasra and Dylan Turner, Bayleys Orewa. The ground floor copy centre tenant renewed in January for three years at $26,300 per annum net, while the three-bedroom apartment above with sea views has a rental appraisal of $27,000pa.
A 3965sq m high-profile site at the corner of Sandringham Rd and St Lukes Rds, occupied by Caltex service station and associated Fix store, has sold for $4.7m at a 4.49 per cent yield through Alan Haydock and Damien Bullick, Bayleys Auckland. There are more than 16 years left to run on a 20-year initial lease term.
A 3.55ha vacant freehold industrial development site at 101-103 Fred Taylor Drive, Westgate, has sold by Deadline Private Treaty for $10.5m. The deal, a joint one with JLL, was brokered by Colliers’ Sean Finnegan and Craig Smith. Zoned Light Industrial, the site provided a rare opportunity for owner occupiers, land bankers and developers to secure a large corner site adjacent to Westgate town centre and surrounding residential growth in the North West.
Mt Wellington units
Five freehold units on individual titles on a 2529sq m site at 46 Lunn Ave, Mt Wellington sold for $4.6m at a 5.07 per cent yield through Sunil Bhana and James Hill, Bayleys Auckland. Four industrial units ranging from 237 to 549sq m are leased to a furniture company until March next year and one 50sq m road front retail unit is occupied by a sushi business on a three-year lease from January 2017.
A two-level 471sq m commercial unit with two tenants at 5 Jack Conway Ave, Manukau, has sold for $1.92m at a 6.77 per cent yield through Rod Grieve and Maxine Bates, Bayleys South Auckland. Gordy's Bar & Gaming Lounge occupies the ground floor with Bartercard NZ above, both on eight-year leases.