Around the block

Tauriko warehouse

A 751sq m industrial warehouse on a 2748sq m site at 43 Poturi St, Tauriko, has sold prior to deadline private treaty to an investor for $2,475,000, representing a yield of 5.5 per cent with an 18 month lease. The deal was brokered by Simon Clark and Rob Schoeser of Colliers International, Tauranga.

Mt Wellington building

A 2049sq m industrial building on a 3283sq m site at 26 Vestey Dr, Mt Wellington, sold for $5.55 million at a 5.54 per cent yield through Sunil Bhana, Mike Houlker, Bayleys Auckland and Ranjan Unka, Bayleys North Shore Commercial. Multinational Estee Lauder, in occupation since 2000, renewed for six years in December 2013.

Albany supermarket

A 450sq m retail outlet at 21 Corinthian Dr, Albany, at the main entrance to Orchard Park Retail Hub, sold for $4.3m at a 6.04 per cent yield through David Han, Eddie Zhong, Terry Kim and Ranjan Unka, Bayleys North Shore Commercial. It is leased to an Asian supermarket trading as Yummy Mart for eight years from August 2017.

Victoria Quarter

A 247sq m corner positioned ground floor retail unit with two tenants at 20 Centre St, Auckland CBD, sold for $1.5m at a 6.66 per cent yield through James Chan, Oscar Kuang and Ben Wallace, Bayleys Auckland. It is occupied by international homeware company Zimba Designs and a Turkish eatery, both on three-year leases.

Hornby Industrial

A 3500 sq m industrial building constructed in 2015 on a 7482sq m site at 24 Gallagher Dr, Hornby, Christchurch sold for $8.35m at a 6.08 per cent yield through Nick O’Styke, Bayleys Canterbury. Seed Force Ltd has over seven years to run on a 10-year lease.

Greenlane lease

Auckland Knight Frank agent Sophie Dixon, has brokered the lease of Part Level 1, Office

2, 253 Great South Road, Greenlane — a

56sq m site with three car parks — for $47,020.00 net.

Western Bay leases

Myles Addington of Knight Frank Tauranga brokered the lease of Unit 9 & 10, 4 Aerodrome Road, Mt Maunganui, for $103,000 net. The new 1050sq m high-spec warehouse & office with excellent yard/car parking was leased for 10 years. Addington also brokered the lease of Unit 2 & 3, 43 Enterprise Dr, Papamoa (229sq m), for $30,000.

Christchurch sale

Christchurch Knight Frank agent Hamish Haddow, sold 32A Birmingham Dr, Middleton, for $900,000, with vacant possession. The 306sq m two-level office building with 10 onsite car parks.