RECENT DEALS for December 5th

5:00 AM Saturday December 5, 2015 Colin Taylor

The sale of this bulk retail property at 85 Cavendish Drive, Manukau, set an auction record for Colliers Internqtional.

Colliers’ record auction price


The $10-million sale of a large bulk retail property at 85 Cavendish Drive, Manukau, represents the highest dollar value auction ever achieved by Colliers International in New Zealand. The fully-occupied building on a prominent 1.1 ha site opposite the Manukau Supa Centa was marketed by Charlie Oscroft, Leroy Wolland and Gareth Fraser.


$15 million Albany block


A 12,340 sq m block of development land at 10 Don McKinnon Drive in the Albany Centre has been sold for $15 million at $1215.56 per sq m by Eddie Zhong, Michael Block and Damian Stephen of Bayleys North Shore Commercial. Located opposite the Westfield Shopping Centre and next to the Rose Garden apartment development, the site has a Business 11C (Residential focus) zoning which allows for convenience retail usages, age care facilities and high density residential development. Zhong says the local company that has purchased the property has also acquired an adjoining 4109 sq m site with resource consent for a Mixed Use development which will commence shortly.


East Tamaki showroom warehouse


An 1867 sq m showroom, warehouse and office unit on a prime road front site at 85A Springs Rd, East Tamaki, has sold for $3,205,000 at a 6.7 per cent yield through John Bolton and Roy Rudolph of Bayleys South Auckland.. It is occupied by Mico Bathroom, Plumbing & Hardware for six years from 2012 with four three-year rights of renewal.


Birkenhead childcare centre


A 634 sq m childcare centre at 71 Roseberry Ave, Birkenhead, has been sold by Peter Kermode, Shoneet Chand and Jimmy O’Brien of Colliers International for $2.55 million representing a yield of 5.3 per cent. The tenant, a listed company, recently signed a 15 year lease.