Recent Deals for Tuesday September 25

3:50 PM Tuesday September 25, 2018 True Commercial’s Recent Deals

Four bulk retail buildings in the Hastings Park Mega Centre sold for $21 million. Photo / Supplied

Hastings Mega Centre

Four modern bulk retail buildings totalling 7557sq m on separate freehold titles in Hastings’ Park Mega Centre have sold for $21m at a 6.47 per cent yield through Sunil Bhana and Mike Houlker of Bayleys Auckland; Rollo Vavasour of Bayleys Hawkes Bay; and Mark Hourigan of Bayleys Wellington. Briscoes/Rebel Sports is the anchor tenant occupying a net lettable area of 3848sq m on a nine-year lease, the other occupants are The Clearance Shed, Pet Stock and Noel Leeming.

Papakura industrial

A 2.85ha vacant industrial site at 14-16 Parker St, Papakura, has sold for $5m to an owner-occupier in the construction industry at $175 per sq m through Shane Snijder and Peter Migounoff of Bayleys South Auckland.

Rosedale office warehouse

A 3715sq m warehouse and office property on a 3972sq m freehold site at 44 Arrenway Dr, Rosedale on the North Shore, has sold for $13,117,116, representing a yield of 5.88 per cent, in an off-market deal brokered by Matt Prentice and Shoneet Chand of Colliers International.

North Shore industrial

A 6813sq m industrial investment property at 13 William Pickering Dr, Rosedale, has sold for $11.4m, at a yield of 5.24 per cent. The off-market deal was brokered by Shoneet Chand, Matt Prentice and Josh Coburn of Colliers.

Hamilton development sites

Two neighbouring development sites at 1000 and 1006 Te Rapa Rd, Hamilton, close to The Base shopping mall, have been sold separately with vacant possession for a total of $2,911,618. Comprising 2528sq m of land and 620sq m of adjoining buildings, they were sold on behalf of different vendors to one purchaser, by Alex ten Hove and Mike Swanson of Bayleys Waikato.

Tauriko modern facility

A high-spec, modern industrial facility in Tauriko Business Estate has sold at auction for $5.4m, representing a yield of 4.85 per cent in a deal brokered by Simon Clark, Rob Schoeser and Doug Russell of Colliers. Built in 2016, the property at 47 Paerangi Place comprises a 2296sq m building with a 517sq m canopy on a 3988sq m freehold site.

Nelson service station

A 3826sq m property in Nelson with a 15-year ground lease to service station operator NPD has sold at auction for $2.03m, a yield of 5.8 per cent. Construction of the self-serve station at 76-82 St Vincent St is under way, with an estimated pump date of late November. The deal was brokered by Colliers’ Christchurch industrial broker Sam Staite and Nelson managing broker Geoff Faulkner.

Mt Eden fitness centre

An 855sq m health and fitness centre on a 1799sq m Mixed Use zoned site at 31 Rossmay Terrace, Mount Eden, sold for $2.9m at a 4.83 per cent yield through Alan Haydock and Damien Bullick of Bayleys’ Auckland City & Fringe team. The tenant has been in occupation since 1999 with 10 years to run on its current lease plus rights of renewal for a further 30 years.

Highgate Silverdale lots

Two adjoining fully serviced lots totalling 4593sq m in the Highgate Business Park, Silverdale, have been sold for $2.5m at $544m per sq m by Rosemary Wakeman, Bayleys North Shore.