Around the block
A year rent-free
Smales Farm CEO Paul Gunn is offering Kiwi start-up business the opportunity to work in the B:HIVE coworking building in Takapuna rent-free for 12 months. Smales Farm’s Race for Space competition is being pitched at entrepreneurs, start-ups and early stage small businesses to win the free office space, says Gunn. The prize will include furniture for all employees, internet connection and usage, management by the B:HIVE concierge team of all the day-to-day office management. “There’s also opportunity to make important business connections with other innovative tenants at our new building,” he says. Details are on the Smales Farm Website.
Tauriko Business Estate
A 3837sq m strategic corner at 204 Taurikura Dr in Stage 2 of the Tauriko Business Estate has sold to a private investor for $2,155,000. The lot has a fully compliant scheme plan yielding 7 retail tenancies and 1 childcare totalling 1976sq m on this 3837sq m site. The deal was brokered by Rachel Emerson and Duncan Woodhouse of Colliers International.
Wairau industrial
A 3093sq m industrial building on a 5885sq m industrial site at 63 View Rd, Wairau Valley, has sold vacant for $6.6m at $2133.30sq m land and buildings, through Tonia Robertson and Laurie Burt, Bayleys North Shore. It has
2693sq m of warehousing and
400sq m of offices, plus 15 parking spaces.
Warehouse unit
A 333sq m corner warehouse unit, converted to a dance studio at Unit 12, 75 Ellice Rd, Wairau Valley, has sold to a private investor for $1,071,000. Returning $60,000pa, with a brand new 3+3+3 year lease, this represents a 5.60 per cent yield. The deal was brokered by Mike Ryan and Sam Sherning of Colliers.
Eden sales record
Phil and Alan Haydock of Bayleys Auckland City & Fringe team have sold two industrial units at 31 Normanby Rd, Mt Eden, located on mixed use land beside Auckland Grammar — at a total value of $5,625,000: A 938sq m unit with 16 car parks sold for $3,475,000 — above its asking price of $3.45m, and an adjoining 489sq m unit with eight car parks sold for $2.15m, well above its $2m asking price.
Frankton rental depot
A high profile 759sq m site with a 145sq m residential building leased as a rental car depot at 8-12 McBride St, Frankton, has sold at auction to a private investor for $1.81m, representing a yield of 3.3 per cent. The deal was brokered by Mark Simpson and Rory O’Donnell of Colliers.
Auction record
At a hotly contested auction, a
230sq m KFC restaurant on a
1855sq m site, at 14 Hagley St, Porirua, has sold for $2.75m, a 4.91 per cent yield. The total property auction ran for close to 45 minutes, attracting over 160 bids. The property was sold by Mark Sherlock, Bayleys Wellington, with a six-year lease to Restaurant Brands, from February 2017, plus a
12-year right of renewal.
Units sold off plans
Eight new industrial units at 18 Corinthian Dr, Albany, have sold off the plans (at their asking price) to multiple investors and occupiers, for a total sum of $8,557,000. The deals were brokered by Sam Sherning, Matt Prentice and Janet Marshall of Colliers.
Health Board tenant
A high profile two-storey character building at 615 New North Rd, Kingsland, has sold for $4.25m, at a 5.2 per cent yield. The property has been occupied by Auckland District Health Board for over 25 years, which as a new 3 year lease. The deal was brokered by Jonathan Lynch and Simon Child of Colliers.
Vietnamese restaurant
A 263sq m single-level commercial building on a high profile under-developed 932sq m Town Centre-zoned site with 16 car parks at 79 Atkinson Avenue, Otahuhu, sold for $1.5m at a 3.01 per cent yield through Tony Chaudhary, Janak Darji and Amy Weng, Bayleys South Auckland. The tenant is a Vietnamese restaurant with a four-year lease until October 2018.