Around the block

Appointed national director

Ryan Johnson has been appointed national director for Bayleys’ commercial and industrial sector. Johnson will work alongside teams in each region to ensure the brand is market leader. He previously spent the last 14 years as a senior executive spearheading CBRE’s Wellington business.

Lower Hutt retail

A 3,556 sq m bulk retail complex on a 3,846 sq m corner site at 31 Knights Rd, Lower Hutt has sold for $9.4 million at an 8.08 per cent yield through Grant Young and Mark Hourigan, Bayleys Wellington. It has a Weighted Average Lease Term of 4.9 years to national tenants Noel Leeming, Warehouse Stationery and Curtain Studio.

Invercargill commercial

A 1450sq m commercial property on a 2,024sq m freehold site at 41 Leet St, Invercargill, was sold by negotiation to private investors for $730,000. The deal was brokered by Mark Simpson and Rory O'Donnell of Colliers International Otago.

Napier corner site

A 1700sq m bulk retail building on a 4019 sq m corner site at 102-106 Taradale Road, Napier sold for $3.15m at a 6.98 per cent yield through Sam MacDonald and Gary Wise, Bayleys Hawkes Bay. It is occupied by national tenants Mico Plumbing and Bike Barn

Raumati South church

A 946sq m church on a 4749sq m large freehold site at 20 Jeep Rd, Raumati South by Private Treaty to Collie Properties for $975,000. The deal was brokered by Dean Anderson of Colliers International.

Tauranga site

A 1,060 sq m City Centre zoned site (49m height allowance) at 74 Grey St, Tauranga, with a 1290sq m retail and office building fully leased to four tenants sold for $2.4m at a 5.88 per cent yield through Brendon and Lynn Bradley, Bayleys Tauranga.

Wellington units

Two commercial units totalling 425sq m of 4A & 4B, 33 Kaiwharawhara Rd in Wellington have sold by negotiation for $940,000. The deal was brokered by Ben Taylor of Colliers International.