Around the block
Morningside units
Industrial warehouse properties at 34, 36 & 38 Ethel St, Morningside, have been sold by JLL agents Alex Wefers and Jarred Hill. They have 19 car parks and sit on a 1976sq m site. Floor sizes range from 501sq m to
603sq m, with a total floor area of
1621sq m. Following an expressions of interest campaign, the units sold to an add-value investor for $5.35 million.
Childcare and retail
A recently completed 1858sq m childcare and retail property on a
3223sq m site with 40 car parks at 1 Kawakawa Pl, Westgate sold for $9.375m to a private limited partnership at a 6.0 per cent yield through Brian Caldwell, Bayleys North Shore Commercial. New Shoots Childcare Centre, licensed for 125 children, on a
15-year lease and Source Cafe, on a six-year lease, provide 90 per cent of rental income with the vendor providing a nine-month rental underwrite on vacant retail space.
Vacant Tauriko sites
Three freehold vacant pieces of land zoned bulky goods, totalling 8149sq m at 33, 35, and 37 Taurikura Drive, near Tauranga, have sold to a private investor for a total of $3, 425,000. The deal was brokered by Rob Schoeser, Simon Clark and Mat Gibbard of Colliers International.
A 1038sq m high stud warehouse and offices on a 5166sq m site at 23 Centennial Highway, Ngauranga, has sold for $6,128,700 at a 6.77 per cent yield through Fraser Press, Bayleys Wellington. It is occupied by two tenants including the Department of Internal Affairs, with an average nine-year lease term.
A high-quality industrial building comprising of a 3290sq m clear span warehouse on a 5830sq m site at 51 Aintree Ave, Airport Oaks, with a 6-year lease to global tenant Husqvarna, has sold to a private investor for $9.2m representing a yield of 4.83 per cent. The deal was brokered by Andrew Hooper, Dwayne Warby and Hamish West of Colliers.
Mt Wellington buildings
Two standalone industrial buildings totalling 450sq m on separate titles totalling 1019sq m at 147 and 147a Marua Rd, Mt Wellington, have sold for $1.86m yield through Mike Adams and Phil Haydock, Bayleys Auckland. Previously occupied by a panel beating business, the property went with vacant possession.
Wairau Valley units
A 692sq m building comprising five industrial units on one 1017sq m title at 17 Ashfield Rd, Wairau Valley, sold for $1.7m at a 4.45 per cent yield post auction through Trevor Duffin and Ranjan Unka, after being passed in for $1.535m. It is fully leased to four tenants.
A recently refurbished 520sq m commercial building on a 1095sq m site at 35 Atkinson Ave, Otahuhu, fully occupied by four tenants, sold for $1.63m at a 6.13 per cent yield through Scott Kirk, James Were, Bayleys Auckland and Tony Chaudhary, Bayleys South Auckland.