RECENT DEALS for November 7th

5:00 AM Saturday November 7, 2015 Colin Taylor

Fonterra’s current head office building at 9 Princes St, Auckland, has been sold for $45 million.

Fonterra head office sold

The 10,541 sq m, 12 storey office building currently leased by Fonterra as its head office building and occupying a 2505 sq m site at 9 Princes Street, in Auckland’s CBD, has been sold to a syndicate of investors for $45 million through Colin McKenna, Robert Platt and David Bayley of Bayleys Auckland. The building, completed in 1990, encompasses three levels of basement parking for 151 cars and a three level atrium. Platt says options are being considered to reposition the building in the market when Fonterra relocates to a new purpose built head office on Fanshawe Street in the Wynyard Quarter next year. 

Anzac Ave development site

A 938 sq m site currently used as a car park at 2-8 Anzac St, Auckland CBD, and allowing for development up to 50 metres in height, has been sold for $9.5 million by Adam White, John Davies and Jasmin Yao of Colliers International.

Northcote Lake Rd property

A 780 sq m Mixed Use zoned building, housing four commercial tenancies and an upper level two bedroom apartment, occupying a 1014 sq m site at 8 Lake Rd, Northcote, has been sold for $1,685,000 at a 5.6 per cent yield through Stephen Scott of Bayleys Auckland.

New Lynn neighbours

Adjacent sites with a building area of 3153 sq m at 34 A & B Portage Rd, New Lynn, have been sold by Dhiru Patel and Chris Upright of Colliers International for $2.4 million representing a yield of 7.8 per cent..

Hamilton medical mile building

A modern building at 35 Pembroke Street on Hamilton's medical mile between the hospital and CBD, leased long-term to a national radiology provider, has sold for $1,542,000 through Andrew Shaw of Bayleys Waikato. Shaw says the tenant has made a substantial capital outlay and modified the building for its specific requirements.