Recent Deals for Saturday September 15

2:45 PM Friday September 14, 2018 True Commercial’s Recent Deals

This office building at 109 Carlton Gore Rd, Newmarket, sold for $28 million. Photo / Supplied

$28m Newmarket sale

Colliers International has brokered the sale to a local private investor of a 4550sqm office building at 109 Carlton Gore Rd, Newmarket, for $28m. The off-market street deal was brokered by Gareth Fraser, David Burley and Simon Child.

Candy-making complex

A 3720sq m industrial complex on 1.8ha within the “Golden Triangle” at 75 Henry Rd, Taupiri, has sold with vacant possession at auction for $1.05m through Mike Swanson and Alex ten Hove, Bayleys Waikato. The ex dairy factory and candy-making premises includes around 1200sq m of pallet racked cool stores and a large rapid cooler.

Tauranga motels

A 2755sq m site at 60 Harington St, Tauranga, with four road frontages and a 1160sq m 20-unit motel complex and office building has sold for $8,025,000 with vacant possession, through Brendon and Lynn Bradley, of Bayleys. Zoning provides for building heights up to 49m

Takapuna office unit

A 110sq m office unit in a converted house on a 727sq m site at 3A Burns Ave, Takapuna, with four car parks, sold vacant for $2.9m through Damian Stephen, Alex Strever and Michael Nees, Bayleys North Shore Commercial.

Massey shops

Royal Heights Shopping Centre in Massey, has sold for $16,830,000, at a yield of 4.67 per cent. The 1.78ha property at the corner of 138-144 Royal Rd and 41 Widmore Dr comprises a Countdown supermarket, five retail blocks and car parking across two freehold sites with Neighbourhood Centre zoning. The deal was brokered by Gareth Fraser, Peter Herdson, Blair Peterken and Josh Coburn of Colliers.

Freemans Bay villas

Adjoining character villas fully leased to commercial tenants on 490 sq m of land in two titles at 37 & 39 Spring St, Freemans Bay, have sold for $3.6m at a 2.29 per cent yield through Alan Haydock, and Damien Bullick, of Bayleys. The site’s Mixed Use zoning allows for future development up to four storeys. 

Mt Albert childcare

A 1208sq m unit title childcare centre with 23 car parks at 10/55 Sainsbury Rd, Mt Albert, has sold for $3m, representing a yield of 7.53 per cent. The centre, on the first floor of a corner retail development built in 2010, is leased to NZX-listed Evolve Education Group, under its brand Lollipops Educare. The deal was brokered by Kris Ongley and Shoneet Chand of Colliers.

North Shore industrial

A fully leased industrial property at 11 Colway Pl, Wairau Valley, has sold at auction for $1.9m, at a yield of 5.37 per cent. The 1716sq m freehold property comprises a 803.2sq m standalone building split into three separate units. It was marketed for sale by Euan Stratton, Matt Prentice and Shoneet Chand of Colliers.

Flat Bush complex

A recently developed 491sq m retail convenience complex with five tenancy spaces on a 1463sq m corner site at 1 Arranmore Dr, Flat Bush, sold partially occupied for $2.55m through Ben Bayley and Tony Chaudhary, Bayleys South Auckland. A superette, cafe and Indian takeaway are earning $119,257 per annum with estimated total rent of up to $180,000 fully leased.