RECENT DEALS for September 19th
The two buildings housing Mollies Boutique Hotel and Functions Centre in Herne Bay.
Mollies site sells for $9.5 million
Two buildings joined by a connecting hallway on a 2905 sq m site at 6 Tweed St, Herne Bay – one the 1360 sq m Mollies Boutique Hotel and Function Centre and the other a 239 sq m villa - have sold for $9.5 million through Alan Haydock of Bayleys Auckland. The property, which featured in Bayleys’ Total Property portfolio, sold with a lease over the larger building to an operator of the Mollies business at $283,000 a year plus GST.
Two Tauranga sales
A modern motel with 22 rooms at 850 Cameron Rd, Tauranga, has been sold by Grant White, Rob Schoeser and Simon Clark of Colliers International for $3.67 million representing a yield of 6 per cent.. Schoeser and Clark also sold a vacant 2.02 ha site at 59 Glenlyon Avenue, Tauranga, with 432 sq m of office and 827 sq m of warehouse space for $1.95 million.
Te Awamutu ex Post Office
Te Awamutu’s former Central Post Office building, refurbished five years ago for two retail tenants, has sold at a Bayleys Total Property auction sold for $1,050,000 through Mark Anderson of Bayleys Waikato. The 478 sq m building on a 1167 sq m corner site at 2 Sloane St, has 106 sq m of vacant rear space.
Papatoetoe veterinary clinic
A veterinary clinic located on a Main Residential zoned 872 sq m site at 93 East Tamaki Rd, Papatoetoe, went for $860,000 at a 5.6 per cent yield under the hammer at Bayleys’ Total Property auction. Leased for six years from April 2013, with three six-year rights of renewal, the property was sold by Paul Dixon of Bayleys Auckland and Tony Chaudhary of Bayleys South Auckland.
Office in Old South British
Unit 3A, a 228 sq m, vacant, office suite in the Old South British Building at 7 Shortland St, Auckland CBD, has been sold for $815,000 by Kris Ongley, Adam White and Jasmine Yao of Colliers International. The unit is located on the third floor of the well-known heritage building.