MARKET WATCH
AUCKLAND 5C, 331 Rosedale Rd, Albany A 221 sqm office space in Rosedale Office Park on the North Shore has been sold for $815,000 by Nick Recordon and Janet Marshall of Colliers International. The unit was purchased by a private owner. 9 Corinthian Dr, Albany A five level, 5,579sq m commercial and retail property has been fully subscribed in a syndication that raised $15.6 million in equity on behalf of Oyster Group. Marketed by Charlie Oscroft and Tim Lichtenstein of Colliers International. 23 Edwin St, Mt Eden A 245sq m office/showroom unit plus 7 car parks sold for $1,150,000 at 7.6 per cent yield. Two years remaining on 6-year lease. Sold by Clint Barber, Bayleys Auckland. 48 Buckland Rd, Mangere East A 154.5sqm purpose built childcare centre, licensed for 39 children, on a 698sqm residentially-zoned site sold for $1.32m at a 5.9 per cent yield to a buyer from mainland China. Leased to NZX listed Evolve Education Group for 15 years from December 2014. Sold by Toni Robertson, Tony Chaudhary, and James Chan, Bayleys. WELLINGTON 6D Broken Hill Rd, Elsdon, Porirua A high-stud manufacturing and distribution industrial premises built in 2010 for NCR sold for $2,040,000 at a 7.8 per cent yield. Comprising a 1,226sqvm warehouse, 193sq m of office, sealed secure yard of 1,072sq m and 358sq m container park on a 4,678sq m of land. NCR (NZ) has just renewed its lease for another 5 years from September 2015 this year. Sold by Andrew Smith of Bayleys Wellington. 221 Newlands Rd, Newlands A 344sq m industrial building with 201sq m workshop and 143sq m of upper level office space with 2 car parks and rear service lane access sold for $450,000. The property was vacant but had a net potential rental of $45,000pa. Sold by Fraser Press of Bayleys Wellington. Unit 10, 155 Gracefield Rd, Lwr Hutt A 277sq m warehouse/workshop with 60sq m yard sold with vacant possession for $200,000. Sold by Paul Cudby and Matt Gibbs of Bayleys Wellington. CHRISTCHURCH 6/75 Peterborough St A vacant office building was sold for $1.1 million by Colliers International’s Courtney Doig and Paul Vinning. 151 Roydvale Ave An office building was sold for $1.34 million by Courtney Doig of Colliers International.