Recent Deals for Thursday April 26

11:00 AM Friday April 27, 2018 True Commercial’s Recent Deals

This KFC restaurant property in Porirua sold for $2.75m. Photo / Supplied

Hot KFC in Porirua

At a hotly contested auction, a 230sq m KFC restaurant on a 1855sq m site, at 14 Hagley St, Porirua, and with a six-year lease to Restaurant Brands, from February 2017, plus a 12-year right of renewal, sold for $2.75m, representing a 4.91 per cent yield. The Total Property auction ran for close to 45 minutes, with the KFC attracting over 160 bids, before being sold by Mark Sherlock of Bayleys Wellington.

A year rent-free

Smales Farm CEO Paul Gunn is offering Kiwi start-up business the opportunity to work in the B:HIVE co-working building in Takapuna rent-free for 12 months. Smales Farm’s Race for Space competition is being pitched at entrepreneurs, start-ups and early stage small businesses to win the free office space, says Gunn. The prize will include furniture for all employees, internet connection and usage, management by the B:HIVE concierge team of all the day-to-day office management. “There’s also opportunity to make important business connections with other innovative tenants at our new building,” he says.

Tauriko corner site

A 3837sq m strategic corner site at 204 Taurikura Drive in Stage 2 of the Tauriko Business Estate has sold to a private investor for $2,155,000 in a deal was brokered by Rachel Emerson and Duncan Woodhouse of Colliers International. The lot has a fully compliant scheme plan yielding seven retail tenancies and one childcare facility totalling 1976sq m on the 3837sq m site.

Wairau industrial building

A 3093sq m industrial building on a 5885sq m industrial site at 63 View Rd, Wairau Valley, has sold vacant for $6.6m through Tonia Robertson and Laurie Burt of Bayleys North Shore. It has 2693sq m of warehousing and 400sq m of offices, plus 15 parking spaces.

Wairau dance studio

A 333sq m corner warehouse unit, converted to a dance studio at Unit 12, 75 Ellice Rd, Wairau Valley, has sold to a private investor for $1,071,000 in a deal was brokered by Mike Ryan and Sam Sherning of Colliers. Earning $60,000 per annum, with a new 3+3+3 year lease, the sale represents a 5.60 per cent yield.

Mt Eden industrial units

Phil and Alan Haydock of Bayleys Auckland City & Fringe team have sold two industrial units at 31 Normanby Rd, Mt Eden, on mixed use land adjoining Auckland Grammar — for a total value of $5,625,000. A 938sq m unit with 16 car parks sold for $3,475,000 above its asking price of $3.45m; and a neighbouring 489sq m unit with eight car parks sold for $2.15m, above its $2m asking price.

Frankton rental depot

In a deal brokered by Mark Simpson and Rory O’Donnell of Colliers, a high profile 759sq m site with a 145sq m residential building, leased as a rental car depot at 8-12 McBride St, Frankton, has sold at auction to a private investor for $1.81m representing a yield of 3.3 per cent.

Albany eight off plans

Eight new industrial units at 18 Corinthian Dr, Albany, have sold off the plans at their asking price to multiple investors and occupiers, for a total sum of $8,557,000, in deals brokered by Colliers’ agents Sam Sherning, Matt Prentice and Janet Marshall.

Health Board tenant

A high profile two-storey character building at 615 New North Rd, Kingsland, has sold for $4.25m, at a 5.2 per cent yield, in a deal brokered by Jonathan Lynch and Simon Child of Colliers. The property, which has a new three-year lease, has been occupied by Auckland District Health Board for over 25 years.