Around the block
Harcourts Group Ltd have appointed Joan Penny as its national communications manager. With 15 years previous experience, mostly in in Europe, Penny has held senior roles across sales, marketing and communications.
A 1780sq m industrial building on a 2834sq m site with 28 car parks at 24 Vestey Dr, Mt Wellington, has sold for $5.15m at a 4.85 per cent yield through James Hill, Sunil Bhana and Mike Houlker, Bayleys Auckland. Jazz Print, in occupation since 1996, has taken a new sixyear lease from settlement with two per cent annual rental increases and two three-year rights of renewal.
A 385sq m second storey, open-plan office unit at 6/20 Lambie Dr, Manukau, has sold by negotiation for $1.32m with vacant possession. The deal was brokered by South Auckland Investment Sales brokers Matthew Barnes, Ryan Gibb and Alex Harper of Colliers International.
One of Auckland CBD’s smaller freehold standalone properties, a 132sq m building on 134sq m of land at 24 Centre St, has sold at auction for $1.55m at a 3.35 per cent yield through Cameron Melhuish and Andre Siegert, Bayleys Auckland. It is leased to hair salon Wolf & Wolf until February 2019 with two two-year rights of renewal. The property’s City Centre zoning allows commercial and/or residential development up to 16m with a permitted floor area ratio of 3sq m of building to one sq m of land.
A 1196sq m office and warehouse tenanted by long-standing Australasian company Vocus (New Zealand) Limited at 7A Parkhead Place, North Harbour, returning $196,000 pa, has been sold by private treaty to an investor for $3.3m net. This represents a 5.94 per cent yield. The deal was brokered by Matt Prentice and Euan Stratton of Colliers.
A three-year-old 367sq m industrial building on a 768sq m site at 24 Whiore Ave, Tauriko, Tauranga, has sold for $1.05m at a 5.03 per cent yield through Graeme Coleman, Bayleys Tauranga. It has two tenants on three-year leases.
A 736sq m single-storey office building constructed in 2008 on a 1640sq m site with 21 car parks at 19 Haven Rd in central Nelson sold for $2.95m at a 6.2 per cent yield through Paul Vining and Gill Ireland, Bayleys Nelson. It is leased to the Ministry of Education until April 2020, having one three-year right of renewal.