RECENT DEALS for June 6th
This building in Khyber Pass Rd sold for $7,450,000
Khyber Pass building
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.
Millwater retail units
Seven tenanted units in a new retail centre at 175 Millwater Parkway, Silverdale, Auckland, have been sold separately at auction to various investors through Euan Stratton, Matt Prentice and Shoneet Chand of Colliers International on behalf of Broadway Developments. The units achieved a combined price of $6,793,000 in the auction room, representing low yields of between 4.9 per cent and 6.2 per cent for individual units. The development is positioned in the heart of the rapidly-growing Millwater housing subdivision and is the only retail centre directly serving the 3500-plus homes being built in the subdivision.
Godley Green Bay sale
A 920 sq m retail building on a 2899 sq m site at 64 Godley Rd, Green Bay, with three tenancies anchored by a New World supermarket and earning $200,500 per annum has been sold by Chris Peterson of Barfoot and Thompson Commercial for $3.7 million representing a 5.4 per cent yield.
City backpacker sale
A five-level commercial building occupied by a backpackers' hostel and ground floor retail shops at 27-31 Victoria St East, Auckland, was sold off-market to an investor by Adam White and Oscar Kuang of Colliers International for $3.5 million representing an 8.32 per cent yield.
Manakau Indoor Sports venue
A 4775 sq m warehouse property leased to longstanding tenant Manukau Indoor Sports Limited, along with two smaller tenants, at 577 Great South Rd, Manukau, Auckland, has been sold at auction to an investor for $2,750,000, representing a 7.5 per cent yield, through Jimmy O'Brien, Ash Vincent and Peter Kermode of Colliers International.