Sold Leased

  • RECENT DEALS for August 8th

    RECENT DEALS for August 8th

    Mike Adams and Harry Cheng of Bayleys Auckland have sold two properties in Mt Eden on behalf of the one vendor for $3,940,000. A large two storey dwelling, used for commercial offices but to be converted back to residential use, on a 1122 sq mcorner site at 390 Mt Eden Rd sold for $2,510,000.Twodwellings converted for commercial use on a 688 sq m site zoned Residential 5 at 15 Mont Le Grand Rd, and with a two year lease in place to a charitable trust, sold for $1,430,000 at a 3.5 per cent yield, reflecting underlying land value.

    Date Aug 2015

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  • RECENT DEALS for August 1st

    RECENT DEALS for August 1st

    A 2651 sq m four level building comprising two upper office floors and ground level warehousing with 52 ground and basement car parks on a Mixed Use zoned 1541 sq m corner site at 26-32 Virginia Avenue East, Eden Terrace has sold for $7 million at an 8.94 per cent yield through Alan Haydock and James Were of Bayleys Auckland. A multinational facilities management company occupies the ground and top floors on a six year lease from December 2010 with rights of renewal while Mediaworks occupies the middle floor on a short term lease while its premises are being refurbished.

    Date Aug 2015

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  • RECENT DEALS for July 25th

    RECENT DEALS for July 25th

    The 3424 sq m Westpac building on a 2907 sq m site at 51 Corinthian Drive, Albany, has been sold for $15.15 million by Jason Seymour, Andrew Reed and Shoneet Chand of Colliers International. The sale of the multi-level office building, 76 per cent leased to Westpac with net annual income of about $1.1 million, represents a yield of 7.26 per cent.

    Date Jul 2015

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  • RECENT DEALS for July 18th

    RECENT DEALS for July 18th

    A large industrial complex comprising 7276 sq m of buildings on a 3.287 ha site at 12 Cape Hill Rd, Pukekohe, featured in Bayleys Greater Auckland portfolio, has sold for $5.3 million at a 9.1 per cent yield through Shane Snijder, Peter Migounoff and Graeme Moore of Bayleys South Auckland. The property has six well established tenants with an additional building planned for the expansion of one of these.

    Date Jul 2015

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  • RECENT DEALS for July 11th

    RECENT DEALS for July 11th

    Railway St building An extensively refurbished 1239 sq m two level commercial building at 8-14 Railway St, Newmarket with six tenancies on two-to-four year leases has sold for $6.7 million at a six per cent yield through Scott Kirk and James Were of Bayleys Auckland. Located on a 1823 sq m Mixed Use zoned site with 45 car parks within the Newmarket 196 plan change, the building has ground floor retail showroom and office space and character office accommodation above. Adjacent to rail station A 1031 sq m Mixed Use zoned site at 11A Cheshire St, Parnell, adjacent to the proposed Parnell railway station has sold for $3.4 million at $3297 per sq m through Bayleys’ Mark Pittaway, Colin McKenna, Harry Cheng and Wei Wei Elder. The property has resource consent for a six-level 36 apartment complex, with site works and piling partially completed.

    Date Jul 2015

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  • RECENT DEALS for July 4th

    RECENT DEALS for July 4th

    Queen St retail unit A 260 sq m prime retail unit at 99A Queen St in Auckland’s CBD has sold for $6,660,000 at a 6.07 per cent yield through Alan Haydock and Damien Bullick of Bayleys Auckland. The unit is leased to eyeware retailer Oakley South Pacific Pty for 10 years from 2008, with one five year right of renewal and annual rent reviews to the Comsumer Price Index (CPI) plus 1.5 per cent.

    Date Jul 2015

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  • RECENT DEALS for June 27th

    RECENT DEALS for June 27th

    JLL’s Wellington brokers John Persico and John McKenzie have sold the big Central Institute of Technology (CIT) Campus at 51 Somme Rd in Heretaunga, Upper Hutt, by deferred settlement after conducting an international marketing campaign on behalf of the Ministry of Education. While the sales price of the property encompassing 18.29 ha of freehold land and 28,000 sq m of buildings is confidential, the government valuation of the property was $12.3 million.

    Date Jun 2015

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  • RECENT DEALS for June 20th

    RECENT DEALS for June 20th

    A 5958 sq m commercial building on a 1.2376 ha site at 8 Tolich Place, Henderson, has been sold through Sunil Bhana, Mike Houlker, Mike Adams and James Appleby of Bayleys Auckland for $11.5 million, representing a 9.3 per cent yield on its current rental income. The property has 3197 sq m of office space along with warehouse and workshop facilities plus 173 car parks and a 10 year lease to a multinational screen production company expiring in February 2022.

    Date Jun 2015

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  • RECENT DEALS for June 13th

    RECENT DEALS for June 13th

    A 295 sq m retail outlet in The Foundation retail convenience centre in Oteha Valley Rd, Albany, sold at auction for $2 million at a 5.9 per cent yield after being marketed by Quinn Ngo and James Chan of Bayleys’ international division and Eddie Zhong of Bayleys North Shore Commercial. Featured in Bayleys Total Property portfolio, the space is occupied by the La Porchetta Italian restaurant on an eight year lease from July 2014 with one eight-year right of renewal and annual rent reviews to the Consumer Price Index.

    Date Jun 2015

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  • RECENT DEALS for June 6th

    RECENT DEALS for June 6th

    A1835 sq m office building on a 1490 sq m site with 53 car parks at 131 Khyber Pass Rd,Grafton and a new seven year lease to telecommunications company 2degrees was sold for $7,450,000 at an 8 per cent yield by Alan Haydock and Ben Wallace of Bayleys Auckland.

    Date Jun 2015

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  • RECENT DEALS for May 30th

    RECENT DEALS for May 30th

    Also featured in Bayleys Total Property, a fully leased 1083 sq m building on a 616 sq m site at 136 Karangahape Rd has sold for $3.2 million at a 6.4 per cent yield through Cameron Melhuish and Andrew Wallace of Bayleys Auckland. Rock Shop occupies 465 sq m of ground floor retail space, a long-standing office tenant leases 458 sq m above and 110 sq m of warehousing fronts Cross Street.

    Date May 2015

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  • RECENT DEALS for May 23rd

    RECENT DEALS for May 23rd

    Maat Property Group’s latest property syndication offering 210 parcels of 50,000 $1 shares in an office building at 5 Osterley Way in Manukau CBD has closed oversubscribed. Syndication sales agent, Brian Caldwell of Bayleys North Shore Commercial, says the building was purchased for $18.8 million and investors were offered an initial projected income return of 9.25 per cent per annum.

    Date May 2015

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  • RECENT DEALS for May 16th

    RECENT DEALS for May 16th

    A 3997 sq m renovated two level retail complex, converted from office/warehouse use on a 6075 sq m Business 5 zoned site at 295 Ti Rakau Drive, East Tamaki,has sold by tender for $5.4 million at a 10.2 per cent yield through Ranjan Unka of Bayleys North Shore Commercial, Katie Wu of Bayleys South Auckland and Dickie Nam of Bayleys international division. Featured in Bayleys Total Property portfolio it comprises 13 units with a mix of predominantly ethnic food and beverage and restaurant tenancies.

    Date May 2015

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  • RECENT DEALS for May 2nd

    RECENT DEALS for May 2nd

    Nine 211 sq m live and work units in a recently completed building at 50 Stonedon Drive, East Tamaki have been sold by Mike Marinkovich of Bayleys South Auckland to separate purchasers at a total value of $5,147,500

    Date May 2015

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  • RECENT DEALS for April 25th

    RECENT DEALS for April 25th

    A 1667 sq m development site in two titles at 85 Customs St, in Auckland’s CBD, has been sold for a confidential price in excess of $30 million to a purchaser from mainland China. The sale was negotiated by John Halstead and James Chan of Bayleys Auckland who say the buyer seeks to take advantage of a resource consent granted in 2010 and valid until 2017 which permits a high rise commercial and/or residential development with a gross floor area of up to 35,305 sq m plus just over 200 car parks. It comprises mostly undeveloped land leased to Wilson Parking plus the vacant Seatrans House, which can be demolished under the resource consent.

    Date Apr 2015

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  • RECENT DEALS for April 18th

    RECENT DEALS for April 18th

    A 656 sq m rectangular building with four separate titles on an 893 sq m freehold site at 4 Parity Place, Wairau Valley, has sold for $1.45 million through Euan Stratton Matt Prentice and Mike Ryan of Colliers International with the price representing a yield of 5.75 per cent.

    Date Apr 2015

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  • RECENT DEALS for April 11th

    RECENT DEALS for April 11th

    Bayleys Auckland and Dunedin offices have joined forces in the sale of Quest apartment hotel in Dunedin for $6.3 million to an investor from mainland China. The 42 apartment hotel with 26 car parks on a 1012 sq m site at 333 Cumberland St was sold with a 10 year lease in place from 2012 at a 9.2 per cent yield through Robin Hyndman of Bayleys Dunedin and Dickie Nam of Bayleys’ Auckland based international division. Nam says the purchaser was a wealthy businessman, with an engineering consultancy employing around 500 people in Beijing, making his first investment in New Zealand although he has indicated he intends to purchase more properties here.

    Date Apr 2015

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  • RECENT DEALS for April 4th

    RECENT DEALS for April 4th

    A 6110 sq m warehouse and office building on a 1.1432 ha site at 4 Carr Rd, Mt Roskill, has sold for $7.7 million at a 7.5 per cent yield through Mike Adams, James Appleby and William Coates of Bayleys East Auckland division. Adams says the property has a new five year lease to a multinational tenant and was sold to an investor with long term redevelopment plans.

    Date Apr 2015

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  • RECENT DEALS for March 28th

    RECENT DEALS for March 28th

    Bayleys Manukau has sold five lots of Business 5 zoned land with existing buildings in a nine-lot subdivision at 357 East Tamaki Road, East Tamaki at a total value of $6.4 million. The highest value transaction was of 4800 sq m Lot 8, bordered by open green space and parks with a north easterly aspect, which was sold by Roy Rudolph for $2,180,000. The 5477 sq m Lot 6, located in the centre of the site also with an existing building, sold to an owner occupier through John Bolton for $1,815,000. Three other lots in the 3.412 ha subdivision being undertaken Gaze Property Partnerships sold under the hammer through Bolton, Simon Andrews and Katie Wu to separate purchasers at a Bayleys Greater Auckland auction for a total value of $2,405,000.

    Date Mar 2015

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  • RECENT DEALS for March 14th

    RECENT DEALS for March 14th

    A 7028 sq m central Pukekohe corner site at 65-71 Edinburgh St featured in Bayleys Greater Auckland portfolio and containing a boutique shopping complex and the Saloon Saloon bar and restaurant has sold for $6.2 million through James Chan and Matt Lee of Bayleys Auckland; and Shane Snijder of Bayleys Pukekohe. The sale represented a 7.3 per cent yield and the property, comprising three buildings totalling 2843 sq m and 12 tenancies with 375 sq m of vacant space, was purchased by a development company which Chan says will look to add value to the underutilised site.

    Date Mar 2015

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