Recent Deals for Saturday October 6

7:43 PM Friday October 5, 2018 True Commercial’s Recent Deals

This Tauranga motel complex, at lower centre, sold for over $8 million. Photo / Supplied

Tauranga motel complex

A 2755sq m site with four road frontages and an 1160sq m 20-unit motel complex at 60 Harington St, Tauranga, was sold for $8.025 million with vacant possession by Brendon and Lynn Bradley of Bayleys Tauranga. The site’s City Centre zoning provides future redevelopment options up to a maximum building height of 49m.

Wiri transport premises

A modern 1280sq m truck workshop and office-showroom, on an 8887sq m site at 6 Tacoma Rd, Wiri, has been sold to another transport firm for $6.6m through Mike Marinkovich of Bayleys. The high-stud workshop has a 22m long service pit, full drive-through capability, eight roller doors and a 4473sq m metalled yard with wash-down facilities.

Highbrook investment property

A modern, multi-tenanted industrial investment property at 23-25 Highbrook Dr, East Tamaki, has sold at auction for $6.3m and a yield of 3.94 per cent. The property has three warehouse/office tenancies with a combined area of 2072sq m on a 3923sq m freehold site. Jolyon Thomson, Joshua Franklin and Greg Goldfinch of Colliers International took the property to market for the first time since its construction in 2004.

Archers Rd unit

A 1205 sq m industrial unit plus 13 car parks at 234 Archers Rd, Wairau Valley, has been sold with vacant possession for $2.95m by Ranjan Unka and Matt Mimmack of Bayleys. It has an 818sq m warehouse, with dual roller door access and 387sq m of office-showroom space.

Barry’s Pt buildings

Adjoining properties at 42 and 44 Barrys Pt Rd, Takapuna, have sold together at auction for a combined $2.77m. The two standalone mixed-use buildings stand on separate freehold titles, with a total land area of 1159sq m. The two-level commercial building at No 44 sold with vacant possession, while the neighbouring property (with retail and car park tenants) earns $54,522 net per annum. The deal was brokered by Ryan de Zwart, Matt Prentice and Shoneet Chand of Colliers.

Glen Eden retail and offices

A 928sq m two-level retail and office building with eight tenants on a 607sq m site opposite the train station at 202-208 West Coast Rd, Glen Eden, has sold for $3,815,000 at a 5.56 per cent yield through Tony Chaudhary and Janak Darji of Bayleys. A Town Centre zoning allows development up to 27m.

Takapuna corner clinic

An 828sq m freehold corner property at 25 Bracken Ave, Takapuna, has sold at auction for $2.7m. The property comprises a 110sq m character bungalow, converted for use as a medical clinic, along with a one-bedroom residential flat and parking for up to 23 vehicles. The clinic sold with vacant possession while the flat and car parks earn about $52,600 in holding income. The deal was brokered by Euan Stratton and Matt Prentice of Colliers.

Avondale industrial site

A 1978sq m undeveloped site zoned Heavy Industry in a high-profile road frontage position at 31 Pataki Rd, Avondale, has been sold vacant for $1.8m at $910 per sq m, through Mark Preston and Sunil Bhana of Bayleys.

Onehunga mall commercial

An add-value investment property at 134-136 Onehunga Mall, Onehunga, has sold at auction for $1.46m and a yield of 6.01 per cent. It has a 666sq m, two level mixed-use commercial building on a 412sq m corner site near the train station. It was sold by Colliers brokers Gawan Bakshi and Ned Gow.

Waikato blueberry business

An established blueberry business on 4.4967ha at 446 O’Regan Rd, Ngahinapouri, has been sold as a freehold going concern at auction for $1.95m by Josh Smith and Scott Macdonald of Bayleys. It includes a 3ha orchard plus processing packhouse; ice-cream and berry retail outlet; additional support buildings and a 204sq m house.

East Tamaki warehouse

A 267sq m freehold warehouse unit at 7C, 24 Harris Rd, East Tamaki, has sold for $600,000, at a yield of 5.43 per cent. The property was to have been auctioned on October 17, but the sale was brought forward following a pre-auction offer. The deal was brokered by Colliers’ Jolyon Thomson and Greg Watson.